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Report Date : |
04.07.2012 |
IDENTIFICATION DETAILS
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Name : |
CARPETS IN THE CENTRE B.S. LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
04.08.1994 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of
carpets and parquets |
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No. of Employees : |
70 |
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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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
CARPETS IN THE CENTRE B.S. LTD.
(Also known as: B.S. CARPETS IN THE CENTER)
Telephone 972
9 774 01 33
Fax 972
9 774 01 35
40 Hashchafim Street
RAANANA 4372422 ISRAEL
A private limited company, incorporated as per file No. 51-200893-9 on the
04.08.1994.
Authorized share capital NIS 250.00, divided into -
50 management shares
(30 shares issued),
200 ordinary shares (151
shares issued), all of NIS 1.00 each,
of which shares amounting to NIS 181.00 were issued.
1. Baruch Shkalim,
2. Mrs. Efrat Skalim, wife of
Baruch Shkalim, holding one single ordinary share.
Baruch Shkalim.
Importers and marketers of carpets and parquets.
Sales are carried out through points of sale inside retail chain stores
"Ace" (large DIY and consumer products chain) and "SHOMRAT
HAZOREA", having a total of 30 sale points.
Among other clients: SHUFERSAL (local largest supermarket chain).
All purchases are imports.
Sole local agents of:
·
JIACOMINI,
PELLAQA, both of Italy;
AW, OSTA, LANO, COMFORTEX, PRADO, MECTHREE, BERRY
FLOOR, all of Belgium.
Operating from an office at the residence of the Shkalim family (owned by
the shareholders), on an area of 100 sq. meters, in 40 Hashchafim Street (moved
from 27 Hashchafim Street), Lev Hapark, Raanana, and from a rented
warehouse, on an area of 1,500 sq. meters in Beit Berl, a locality near Kfar
Saba. Also operating from 30 points of sale nationwide, located within branches
of the local retail chains.
Having in all 70 employees (same as in 2008 and 2007)).
Financial data not forthcoming, however known of be of solid financial
backing.
There are no charges registered on the company's assets.
Annual sales claimed to be several millions of US$ (exact figures nor
disclosed).
Bank Hapoalim Ltd., Ra'anana Branch (No. 661), Ra'anana, account No. 60715.
A check with the Central Banks' database did not reveal negative
information on subject’s bank account.
Nothing unfavorable learned in the legal aspect.
However, it should be noted, that couple of significant customers of
subject encountered grave financially difficulties, therefore we estimate
subject has been hurt to some extent, though we are unable to access the
damage. The first customer is ACE MARKETING CHAINS - CONSUMER PRODUCTS LTD.,
which operates the DIY ACE chain in which subject has been operating points of
sale. ACE went into freezing procedures in early 2012 and in March 2012 was
sold to ELECTRA Group, a leading and financially solid group (which also
operates domestic electrical appliances retail chains), which continues to
operate the "Ace DIY" chain. The other client is KIKA ISRAEL, which
operated the local franchise of Austrian giant KIKA furniture store since early 2011and
collapsed few months ago due to liquidity problems.
Subject's General Manager, Mr. Baruch Shkalim, informed us that
"business is as usual".
Mr. Skalim refused as a matter of policy to disclose financial data.
Baruch Shkalim enjoys good reputation in the local market, considered
credible and good payment morality. He is only known to be of personal wealth.
The local floor covers market (carpets, rugs, wall-to-wall carpets,
parquets floor) is estimated well over at US$ 100 million per annum.
Notwithstanding the refusal to disclose
financial details
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.81 |
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UK Pound |
1 |
Rs.86.04 |
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Euro |
1 |
Rs.69.62 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.