MIRA INFORM REPORT
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Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
KORIM PUBLISHING HOUSE (1995) LTD. |
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Formerly Known As : |
DANNY BOOKS MARKETING (1995) LTD |
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Registered Office : |
P.O. Box 163, Kiryat Gat (82101), 35 Haashlagan Street, Industrial Zone, Kiryat Gat 82021 |
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Country : |
Israel |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
14.11.1995 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Books publishing
house, printers and marketers of books of all sorts |
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No. of Employees
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20 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Israel |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
KORIM PUBLISHING HOUSE (1995) LTD.
Telephone 972 8
681 85 55
Fax 972 8 681 88 77
P.O. Box 163, Kiryat Gat (82101)
35 Haashlagan Street
Industrial Zone
KIRYAT GAT 82021 -ISRAEL
A private limited company, incorporated as per file No. 51-222679-6 on the 14.11.1995, continuing activities in the publishing area several years earlier.
Originally registered under the name DANNY BOOKS MARKETING (1995) LTD., which changed to the present name on the 07.08.2000.
Authorized share
capital NIS 23,800.00, divided into -
23,800 ordinary shares of NIS
1.00 each,
of which 100
shares amounting to NIS 100.00 were issued.
1. Avner Fahima, 99%,
2. Mrs. Nurit Fahima, wife of Avner, 1%.
Avner Fahima, born
1960.
Books publishing
house, printers and marketers of books of all sorts.
Publishing some
100 titles per annum, books and albums for adults, children and youth.
Clients are
publishers and book stores, including local leading books chains ZOMET SFARIM,
STEIMATZKY, as well as other retail chains such as KFAR HASHAASHUIM, KRAVITZ,
MEGA BOOL, etc.
Most purchasing is
from import.
Operating from
owned premises (offices, printing mill and warehouses), on an area of 800 sq.
meters, in 35 Haashlagan Street, Industrial Zone, Kiryat Gat.
Having 20
employees (similar to the previous years).
Current stock
claimed to be of NIS 6,000,000.
B/S shows:
NIS
31.12.2009 31.12.2010
ASSETS
Current assets
Cash and cash equivalents 388,218 574,456
Marketable securities 400,276 737,021
Checks for collection 324,695 505,842
Customers 2,953,301 3,369,388
Other assets 42,400 70,820
Inventory 2,200,550 2,817,230
6,309,440 8,074,757
Fixed assets 3,632,465 3,954,564
9,941,905 12,029,321
========= ==========
LIABILITIES
Current
liabilities
Loans 317,358 1,098,436
Checks for redemption 2,248,690 2,751,657
Suppliers and service providers 761,361 1,069,021
Other current liabilities 936,402 457,426
4,263,811 5,376,540
Long term liabilities 682,107 829,947
Provisions 14,957 90,873
Equity 4,981,030 5,731,961
9,941,905 12,029,321
========= ==========
Owned property in 35
Haashlegan Street, Industrial Zone, Kiryat Gat is valued at NIS 3,000,000.
There are 6
charges for unlimited amounts registered on the company's assets (financial
assets, fixed assets and vehicles), in favor of Mizrahi Tefahot Bank Ltd., Bank
Hapoalim Ltd. and a leasing company (last charge placed March 2011).
2008 sales claimed
to be NIS 10,000,000.
Statement of Income:
NIS
For
the Year ended 31.12:
2009 2010
Sales 9,802,375 12,247,132
Gross profit 5,097,859 6,159,092
Operating income 2,014,781 2,254,361
Profit before income taxes 2,011,716 2,194,545
Net profit 1,450,739 1,568,784
========= =========
2011 sales claimed
to be NIS 15,000,000.
Mizrahi Tefahot
Bank Ltd., Kiryat Gat Branch (No. 433), Kiryat Gat, account No. 575,800.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
Nothing
unfavorable learned.
Subject and is a veteran
business, and Mr. Avner Fahima is veteran and known in its field.
According to surveys from 2009 in the
branch, 6,000 new titles are printed in Israel each year, in over 10 million
copies, of which two thirds are translated. This puts the Israeli reader at the
top of the world ranking in purchasing books.
The local annual books market is valued at
NIS 1.2 billion in 2011, some 30,000 titles (of which some half teaching and
religious/ holy books). Most sales reach the books chains (such as subject).
There are over 450 bookstores in Israel, over half of which belong to the large
chains.
Sales in 2009 by
the local printing and publishing industries summed up to around NIS 10
billion. The sector performance took a negative trend in 2008 as part of the
general economic slow-down in local and global markets. In addition, the branch
has been hurt by the significant rise of paper raw material in early 2010.
Investments in
machinery and equipment from import for the printing and publishing industries
in 2010 rose by 15%, summing up to NIS 248.6 million, after in 2009 it fell by
14% from 2008 (and after a rise by 5.5% in 2008 from 2007).
There are over
21,000 employees serving in the local printing industry, employed in some 1,050
printing houses, 960 of which considered small.
Good for trade
engagements.
Maximum unsecured
credit recommended US$ 100,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.25 |
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UK Pound |
1 |
Rs.76.75 |
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Euro |
1 |
Rs.65.16 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with full
security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.