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Report Date : |
13.07.2012 |
IDENTIFICATION DETAILS
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Name : |
SHESEK SUPPLYERS SERVICES FOR THE MOTHER INFANT AND CHILD LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
07.05.1986 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers,
handling baby products, children's clothes, footwear and toys |
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No. of Employees : |
35 employees |
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 : |
Good |
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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 |
|
Risk Category |
ECGC
Classification |
|
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 |
SHESEK SUPPLYERS SERVICES
FOR THE MOTHER INFANT AND CHILD LTD.
Telephone 972 3 577 51 11
Fax 972 3 578 44 90
P.O. Box 1007
1 Kineret Street
AirPort City
Compound
LOD AIRPORT 7010000 ISRAEL
A private limited company,
incorporated as per file No. 51-112050-3 on the 07.05.1986, taking over the
import activities of SHILAV DIRECT MARKETING FOR NEWBORN INFANTS LTD. (founded
in 1973 and incorporated in 1975).
Authorized share
capital NIS 25,800.00, divided into -
25,800
ordinary shares of NIS 1.00 each,
of which 14,739
shares amounting to NIS 14,739.00 were issued.
1. SHILAV GROUP LTD., 95%,
owned by Mr. Itzhak and Mrs. Shoshana Oren,
2. YARDENI – GELFAND TRUSTS
(2000) LTD., 5%., a trust company.
Until 2007 subject
shareholders included also holding and investment companies, besides the SHILAV
GROUP LTD (which held 61%). Several years ago SHILAV GROUP LTD. gained full
ownership.
1.
Itzhak (Itzik) Oren, Chairman,
2.
Mrs. Shoshana Oren.
Ms. Anat Levin.
Importers and
marketers, handling baby products, children's clothes, footwear and toys.
Subject is an
importing arm for the SHILAV Group, the leading babies, toddlers and children retail
chain in Israel, operating 49 retail stores countrywide (and 1 online store).
Some 97% of sales
are to the SHILAV chain, and only 3% to third parties.
Having no local
suppliers, all purchases are imported.
Sole local representatives of, among others:
· INGLESINA, of Italy,
BABY
BJORN, of Sweden,
PLAY,
of Spain
KLAIN,
of Germany
MAXICOSI,
of Holland.
Operating from
rented premises (offices, warehouses and logistic center), on an area of 7,000
sq. meters, in 1 Kineret Street, in the industrial and Business Park AirPort
City (in proximity to the Ben-Gurion International Airport).
SHILAV Group moved
to its current location in AirPort City by the end of 2009.
Having 35
employees in subject (same as in 2011, was 30 employees in mid 2009) and 700
employees serving the whole SHILAV Group (similar to 2011, had 650 employees in
mid 2009).
Financial data not
forthcoming, however known to be of good financial standing.
There are 5 charges
for unlimited amounts registered on the company's assets, in favor of Bank
Hapoalim Ltd., Israel Discount Bank Ltd. and Bank Leumi Le’Israel Ltd. (last
charge placed in January 2005).
SHILAV GROUP 2005
consolidated sales claimed to be US$ 80,000,000.
SHILAV GROUP 2006
consolidated sales claimed to be US$ 90,000,000.
SHILAV GROUP 2007
consolidated sales claimed to be US$ 95,000,000.
SHILAV GROUP 2008
consolidated sales claimed to be US$ 100,000,000.
SHILAV GROUP 2009
consolidated sales claimed to be US$ 100,000,000.
SHILAV GROUP 2010
consolidated sales claimed to be US$ 100,000,000.
SHILAV GROUP 2011
consolidated sales claimed to be US$ 100,000,000.
SHILAV GROUP LTD.,
a holding company.
Also part of the
SHILAV Group:
· SHILAV DIRECT MARKETING FOR NEWBORN INFANTS LTD., operating a retail chain stores for babies and children goods, toys, clothes, etc., under the name "Shilav", owned by subject's shareholders.
TINY
LOVE LTD., manufacturers and exporters of development toys for babies,
established in 1993, having 50 employees.
SHILAV
BABIES AND KIDS LTD., designers, manufacturers and marketers of toddlers (ages
0 to 4) apparel, established in 2000, having 7 employees.
SHILAV
USA, the Group's apparel (manufactured by the above) distribution firm in the
USA.
· Israel Discount Bank Ltd., Hakirya Branch (No. 034), Tel Aviv, account No. 507709.
Bank
Leumi Le’Israel Ltd., Alonim Business Branch (No. 654), Tel Aviv, account No.
732400/60.
Bank
Hapoalim Ltd., Hadar Yossef Branch (No. 610), Tel Aviv, account No.664468.
A check with the
Central Banks’ database did not reveal any negative information regarding
subject’s a/m accounts.
Nothing
unfavorable learned.
SHILAV retail
chain is by far the leading babies, toddlers and young children retail chain in
Israel, operating 49 retail stores countrywide.
In April 2012
SHILAV launched its online store.
During 2010
SHILAV's owners tried to sell SHILAV according to a value of NIS 175 million. Eventually
the sale did not take place. According to a report from July 2010 SHILAV's 2009
sales were NIS 218 million, with an EBITDA of NIS 21 million.
In July 2007 it
was reported that SHILAV will invest NIS 20 million in opening 5 concept stores
on areas of 1,000-1,500 sq. meters each. In July
In March 2010 it
was reported that SHILAV will open a flag store in Poleg Compound in Netanya,
with an investment of NIS 2 million.
According to a
report from February 2011, SHILAV's 2010 advertizing budget was US$ 3 million
(was US$ 2 million in 2009). Advertizing agency FOGEL OGILVI.
In May 2012 it was
reported that SHILAV is addressing the women still in the pregnancy phase, with
an investment of NIS 2 million.
According to
sources in the branch, the local market for baby and small children products is
in volume of circa NIS 1 billion annually.
Good for trade
engagements.
Note: Since the beginning of 2012 Israel Post
started using a new area code method of 7 digits (the old method of 5 digits
will still be valid till end of 2012).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.70 |
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UK Pound |
1 |
Rs.86.28 |
|
Euro |
1 |
Rs.68.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.