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Report Date : |
09.06.2012 |
IDENTIFICATION DETAILS
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Name : |
A.S. SAPIR TEXTILE MARKETING LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
16.12.2002 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of apparel for men and youth |
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No. of Employees : |
Not
Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 |
A.S.
SAPIR TEXTILE MARKETING LTD.
Telephone 972
3 681 84 66
Fax 972
3 681 24 28
9
Marcolet Street
TEL AVIV 6609709 ISRAEL
A private limited company, incorporated as
per file No. 51-333903-6 on the 16.12.2002.
Authorized share capital NIS 50,000.00, divided into: -
50,000
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00
were issued.
Subject is fully owned by Michael Peretz.
Michael Peretz.
Importers and marketers of apparel for men and youth.
Operating from premises in 9 Marcolet
Street, Tel Aviv.
Number of employees not forthcoming.
Financial data not forthcoming.
There are 2 charges for unlimited amounts registered on the company's
assets (first charge placed in 2003, 2nd charge placed February 2012, both on
financial assets), in favor of Bank Hapoalim Ltd.
Sales figures not forthcoming.
Bank Hapoalim Ltd., branch data not forthcoming.
Nothing unfavorable learned.
Subject's owner and General Manager, Michael
Peretz, refused to provide any information without receiving the name of the
supplier on behalf of whom the inquiry is.
According to our, Michael Peretz holds 50%
in AVIHAD AND ELHAD TEXTILE MANUFACTURER LTD. (incorporated in 1996, continuing
business activities which began in 1992 and was known as "Sancho
Fashion"), manufacturers and marketers of ladies' and men's trousers and blouses
(may be inactive).
According to reports from the beginning of
2012, total sales of the local fashion market are NIS 10 billion per annum.
Based on surveys, around 50% and more is women's fashion.
Moreover, 40% of fashion stores in Israel belong to fashion chains, the rest
being private shops.
According to the Central Bureau of Statistics (CBS), import of
Clothing and Footwear in 2011 kept the rising trend from 2010: import rose by
close to 19%, after rising 13.4% in 2010 from 2009, summing up to US$ 1,707.3 million
(in 2009 the local market experienced a slow-down). Most import comes from
China. Main other countries of origin for textile goods are France, Italy, Hong
Kong and Turkey, Spain and the U.S.A.
Despite the fears due
to the slow-down trend in the local economy, mainly since mid 2011, sales by
the local fashion –clothing and footwear- branch in 2011 witnessed a growth.
The income of fashion chains (which covers 1,350 shops, the major chunk of
fashion sales in Israel) summed up to NIS 4.52 billion, representing a 5.7%
rise from 2010 in money terms. Sales during the year characterized in ups and
downs, though eventually they came higher than 2010, a year which was better
than 2009, when the branch suffered from slow-down (coupled with the general
local economic environment) and overall sales indicators were negative. 2010 sales were only marginally positive. Sales have
been also influenced by the entrnce of new international fashion players
to the already highly competitive local market (GAP, H&M in 2009/2010,
Forever 21 in 2011).
According to sources in the local fashion branch, in recent months the
branch entered
again a freezing mode. It may be explained by several factors, including the
present slow-down in local economy, the fierce competition and more.
According
to the Central Bureau of Statistics (CBS), private consumption expenditure by
Israeli households in 2011 in clothing, footwear and personal effects rose by
mere 1.3% from 2010, after a 9.5% increase from 2009.
Considering the refusal to disclose data,
dealings are recommended on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.36 |
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UK Pound |
1 |
Rs.85.64 |
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Euro |
1 |
Rs.69.21 |
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.