MIRA INFORM REPORT

 

 

Report Date :           

27.01.2012

 

IDENTIFICATION DETAILS

 

Name :

SIMPLE DESIGN

 

 

Registered Office :

27 Habanai Street, Industrial Zone, Holon 58857  

 

 

Country :

Israel

 

 

Year of Establishment :

2008

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importers and marketers of household goods and ornaments for home design.

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Small Concern

 

 

Payment Behaviour :

Unknown

 

 

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

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Israel

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address

 

SIMPLE DESIGN

Telephone 972 3 550 34 34

Fax                                     972 3 550 99 77

27 Habanai Street

Industrial Zone

HOLON     58857           ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A sole proprietorship, established in 2008.

 

Operating under Licensed Dealer No. 025357864.

 

The business is registered with the Tax Authorities’ Files under the name of "LAHAV RONEN".

 

 

OWNERSHIP

 

Ronen Lahav

 

 

GENERAL MANAGER

 

Ronen Lahav, born 1973.

 

 

BUSINESS

 

Importers and marketers of household goods and ornaments for home design.

 

Operating from premises in 27 Habanai Street, Industrial Zone, Holon.

 

Number of employees not forthcoming, believed to be few.

 

 

MEANS

 

Financial data not forthcoming.

 

 

SALES

 

Sales figures not forthcoming.

 

 

OTHER COMPANIES

 

AUTOLAHAV LTD., sister company, incorporated in 2001, operating in supply of vehicle spare parts. Operating from same premises as subject.

 

 

BANKERS

 

Bank data not forthcoming.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Subject’s official refused to disclose data besides general business activity.

 

From Central Bureau of Statistics data, import of Household Utensils in 2011 rose by 7.3% from 2010, summing up to US$ 589.4 million. This comes after in 2010 import rose by 15.8% from 2009 (2009 level was similar to 2008).

 

The local household products market is considered highly competitive after reaching market saturation. It includes household textile, tableware and kitchenware and utensils, bath accessories and ornaments &decorative items, ceramic and glass ware, etc. According to estimations, the local household products market volume reaches NIS 2.5 – 3 billons annually (of which circa NIS 1 billion for “home textile”), and includes retail, wholesale, institutional markets (Retail chains capture 30% of the market share, specialization stores 20%, while the institutional and workers unions sector has 50% share).

 

 

SUMMARY

 

Considering the refusal to disclose data, dealings are recommended on secured basis.

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.97

UK Pound

1

Rs.77.74

Euro

1

Rs.65.09

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.