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Report Date : |
08.06.2012 |
IDENTIFICATION DETAILS
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Name : |
MOSHE MUSSAFI & SONS FOOD MARKETING LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
23.12.2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers
of foodstuffs, specializing in dried fruits and nuts of various sorts |
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No. of Employees : |
01 |
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 |
MOSHE MUSSAFI & SONS FOOD MARKETING LTD.
Telephone 972
3 682 74 24
Fax 972 3 683 20 65
82 Nahalat
Binyamin Street
TEL AVIV 6652505 ISRAEL
A private limited company, incorporated as per file No. 51-362254-8 on
the 23.12.2004.
Since inception, subject was practically dormant.
On 01.01.2009 subject took over all the business activities of MOSHE
MUSSAFI & SONS, a non-registered partnership, which was originally
established as a sole proprietary business in 1960, by Mr. Moshe Mussafi.
Authorized share
capital NIS 30,000.00, divided into –
30,000 ordinary shares of NIS
1.00 each,
of which 100
shares amounting to NIS 100.00 were issued.
1. Moshe Mussafi, 40%,
2.
Yosef (Yossi) Mussafi, 30%,
3.
Yuval Mussafi, 30%, latter 2 are both sons of
Moshe.
Moshe Mussafi.
Importers and marketers of foodstuffs, specializing in dried fruits and
nuts of various sorts.
Amongst clients: KATIF/ SHUFERSAL, BLUE SQUARE (both 2 largest local
supermarket chains), SHEKARCHI, HAMAMA MEIR TRADE, HANI SHAHROURI (Palestinian
Territories), private customers, etc.
Operating from key
money premises (office and store), on an area of 30 sq. meters, in 82 Nahalat
Binyamin Street, Tel Aviv, from another rented store (40 sq. meters) in 101
Nahalat Binyamin Street, Tel Aviv, and from warehouses (rented) in the cold
storage facilities of PRIGAL according to need.
Subject's 3 shareholders are the only ones employed (same as in previous
years).
Current stock is valued at NIS 7,000,000 (was valued at NIS 6,000,000 in
the beginning of 2011, similar to 2010 and 2009).
Subject's
shareholders also own a property on an area of 100 sq. meters in 13 Shenkar
Street, Petach Tikva (previously served subject).
There are 4 charges for unlimited amounts registered on the company's
assets (financial assets and fixed assets), in favor of Israel Discount Bank
Ltd. and The First International Bank of Israel Ltd. (last charge placed
September 2011).
2005 sales claimed to be NIS 65,000,000.
2006 sales claimed
to be NIS 70,000,000.
2007 sales claimed
to be NIS 90,000,000.
2008 sales claimed
to be NIS 90,000,000.
2009 sales claimed
to be NIS 90,000,000.
2010 sales claimed
to be NIS 90,000,000.
2011 sales claimed
to be NIS 92,000,000.
2012 sales pace
claimed to be as in 2011.
Israel Discount Bank Ltd., Kikar Hamoshavot Branch (No. 014), Tel
Aviv, account No. 266817.
The First International Bank of Israel Ltd., Tel Aviv Main Branch (No.
046), Tel Aviv, account No. 899682.
A check with the Central Banks’ database did not reveal any negative
information regarding subject’s a/m accounts.
Nothing unfavorable learned.
Subject is a long established family business and well known in its
field.
The local food and beverages market rolled a turnover of around US$ 48
billion in 2008.
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.
Import of food and beverages to Israel in 2011 summed up to US$ 2,358.2
million, rising by 18.7% from 2010, which comes after a by 15.5% increase in
2010 from 2009 (when import decreased by 9.4% comparing to 2008 due to the
slow-down in local economy).
The
Central Bureau of Statistics (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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UK Pound |
1 |
Rs.85.22 |
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Euro |
1 |
Rs.69.24 |
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 |
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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.