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Report Date : |
18.07.2012 |
IDENTIFICATION DETAILS
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Name : |
S.M. CASTLE FOOD INDUSTRY LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
02.03.2011 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
A filtered water filling plant. |
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No. of Employees : |
18 |
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) |
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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 |
S.M.
CASTLE FOOD INDUSTRY LTD.
Telephone 972 4 651 95 94
Fax 972 4 600 04 54
P.O. Box 1019, Mash'had (1696700)
5 Hayotzer Street
Ziporit Industrial Zone
NAZARETH ILIT 1789089
ISRAEL
A private limited company, incorporated as
per file No. 51-458455-6 on the 2.03.2011.
Subject's activities began in 2000 as a
department in sister company ALMASHADAWE TRADING AND MARKETING CO. LTD.
(established 1995), and following the recommendation of its CPA, decided to
separate the manufacturing activities from the marketing.
Authorized share capital NIS 10,000.00,
divided into -
10,000
ordinary shares of NIS 1.00 each,
fully issued.
1. Abd Al-Majeed Salah, 50%,
2. Hassan Salah, 50%.
1. Abd Al-Majeed Salah.
2. Hassan Salah.
A filtered water filling plant.
Also manufacturers of flavored syrups.
Among clientele: KING STORE chain
(affiliated company)
Operating from
premises, owned by shareholders, on an area of 10,000 sq. meters in 5 Hayotzer
Street, Ziporit Industrial Zone, Nazareth Ilit (Upper Nazareth).
Having 18
employees in subject.
There are over a
hundred employees in the ALMASHADAWE Group (including KING STORE).
Financial data not forthcoming.
There is 1 charge for an unlimited amount registered on the company's
assets (financial assets), in favor of Mercantile Discount Bank Ltd. (charge
placed in April 2012).
2011 sales claimed to be NIS 12,000,000.
ALMASHADAWE
TRADING AND MARKETING CO. LTD., sister company, importers, manufactures and marketers
of foodstuffs, e.g. canned goods, syrups, etc. Having 40 employees.
ALMASHADAWE KING STORE LTD., affiliated
company, operating a retail chain store of 6 stores.
Mercantile Discount Bank Ltd., Kfar Kana
Branch (No. 631), Kfar Kana.
Nothing unfavorable learned.
Subject's officials refused to disclose
financial data besides sales figures.
ALMASHADAWE
TRADING is known in their fields and considered strong.
The
Salah family has been involved in the foodstuffs area for years prior ro
establishing subject.
The local market for food & beverages grew by 11.4% from 2008 to
2011, summing up to NIS 35.15 billion, around 4.5% increase (in money terms) in
2011 from 2010.
According to the Industrialists' Association, 2008 revenues by the local
food industries reached NIS 56 billion, of which NIS 53 billion were to the
local market, the rest for export. In real terms, revenues fell by 1.5% from
2007. Some NIS 43 billion of sales came from sales of food products. Local food
industries marked a decrease in 2009 due to the slow-down in local economy and
global economic crisis, although decrease was relatively mild, mainly as the
economic climate ameliorated in the 2nd half of 2009.
According to Central Bureau of Statistics (CBS) data,
investments in machinery & equipment from import for the food industry in
2011 summed up to NIS 929.5 million, 47.7% rise from 2010 (after 15.4% increase
in 2010), while investments in machinery & equipment from import for the
beverage & tobacco industries rose by 2% to NIS 379.7 million (rose 9.7% in
2010).
CBS
data
shows that import of raw food products to Israel in 2011
summed up to US$ 2,062.6 million, 23% increase from 2010 (a similar growth
trend to 2010 from 2009, a year which witnessed a 20% decrease from 2008). Over
50% of import is from the EU.
According
to the CBS, the total household expenditure for private consumption in 2011 on
food, beverage and tobacco rose 3.7% from 2010, after 4% rise in 2010 from
2009, reflecting an improvement trend in the loacl market after the general
slow-down in economy in 2009.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
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|
1 |
Rs.86.30 |
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Euro |
1 |
Rs.67.73 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
-- |
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.