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Report Date : |
15.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SASATECH AGRICULTURAL COOPERATIVE SOCIETY LTD. |
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Formerly Known As : |
SASA TECH. |
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Registered Office : |
M.P. Marom Hagalil Sasa 1387000 |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
03.11.1980 |
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Legal Form : |
Limited Partnership |
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Line of Business : |
Manufacturers, exporters and marketers of chemicals, cosmetics and detergents (mainly sprays) for household & janitorial, automotive fields, as well as the industrial and institutional fields. |
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No. of Employees : |
75 |
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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
SASA TECH (
Correct Name: SASATECH AGRICULTURAL COOPERATIVE SOCIETY LTD.
(Also
known in short: SASATECH ACS LTD.)
Telephone 972 4 698 77 20
Fax
972 4 698 78 71
E-mail:
sasatech@sasatech.co.il
M.P.
Marom Hagalil
SASA 1387000
Originally
established as a limited partnership registered as per file
No. 55-000526-8 on the 3.11.1980 under the style SASA TECH.
During 2001, all activities were transferred
to a newly established Agricultural Cooperative Society (ACS), registered as
per file No. 57-003692-1 on the 29.03.2000.
Consequently SASA TECH became a holding
company.
Subject is fully
owned by Kibbutz Sasa, a cooperative society operating a communal agricultural
settlement.
(As Of End Of 2009 –
Later Data Not Forthcoming)
1. Yoram
Dar, Chairman,
2. Rami
Ziv, General Manager,
3. Giora
Yanai,
4. Raul
Cohen,
5. Ms.
Rachel Wizel,
6. Ron
Cohen,
7. Ms.
Michal Zoran,
8. Amos
Eshed.
Manufacturers, exporters and marketers of
chemicals, cosmetics and detergents (mainly sprays) for household &
janitorial, automotive fields, as well as the industrial and institutional
fields.
Subject's private label products are under
the brand names "Pro" for the institutional sector, "Home
Care" and "Magic" for private market and "Maxol" for
cars.
Subject serves as a manufacturer for leading
detergent and chemical manufacturers, amongst them HOGLA KIMBERLY, rekkit benkiser, etc.
20% of sales are export, mainly to Europe
and
Among local clientele: UNILEVER ISRAEL HOME
AND PERSONAL CARE, ZOHAR COSMETICS, RAMI LEVY SHIVUK HASHIKMA, A.B.A. VICTORY,
ACE MARKETING CHAINS CONSUMER PROD
Sole local representatives of: SWD RHEINOL,
of
Operating from offices in Kibbutz Sasa and
from a rented plant, on an area of 14,500 sq. meters, in the Dalton Industrial
Zone, Marom Hagalil.
Registered address is in Kibbutz Sasa, a locality
in the North of Israel, in the
Note: "Kibbutz" is a typical local cooperative agricultural
settlement/ village.
Having 75 employees as of the end of 2010
(had 70 employees in mid 2009).
B/S shows (last
obtainable):
31.12.2007 31.12.2008
ASSETS
Current assets
Cash and cash equivalents 2,783 2,143
Marketable securities 744 3,110
Customers 22,391 25,724
Other debtors 978 380
Stock 8,551 8,625
35,447 39,982
Fixed assets (net) 4,192 4,578
39,639 44,560
====== ======
LIABILITIES
Current
liabilities 20,101 20,758
Long term liabilities 218 190
Equity 19,320 23,612
39,639 44,560
====== ======
Stock was valued at
Equipment was
valued at
In October 2000,
it was reported that subject completed the erection of its plant in
In February 2009 it was reported that
subject purchased an additional 8,000 sq. meters adjacent to its plant (on
which 4,500 sq. meters to be built) for
Subject is an “Approved Enterprise” and as such enjoys
tax benefits and State incentives.
In November 1999, the Israeli Investment Center (IIC) approved US$ 2.8 million investment plan for the
expansion subject’s plant. In August 2006 IIC approved an additional
grant for the expansion of subject's plant.
2008 sales claimed to be
2009 sales claimed to be
2010 sales claimed to be
Later sales data not forthcoming.
Kibbutz Sasa also
owns:
PLASAN
SASA LTD., manufacturers, exporters and marketers of armor for aircrafts, ships,
land vehicles, persons, etc. owning several subsidiaries. Established in 1983,
2010 sales US$ 850 million, 95% for export. Owns several subsidiaries.
PLASAN - KIBBUTZ
SASA LP, non-active.
Bank Otzar Hahayal
Ltd., Haifa Bay Branch (No. 362),
No. 333770.
A check with the Central Banks’ database did
not reveal any negative information regarding subject’s a/m account.
Bank Leumi Le'Israel Ltd., Kiryat Shmona
Branch (No. 976), Kiryat Shmona.
Nothing
unfavorable learnt.
Despite our efforts, we were unable to speak with subject's officials, as
they were always unavailable. We sent an e mail and left messages which so far
remain unanswered.
Subject is
considered to be among the largest in the local industry and enjoys good
reputation.
Subject is ISO
9001:2000 certified.
Kibbutz Sasa was
established in 1949. There are some 210 members.
Kibbutz Sasa also
cultivates a large area of agricultural land, including fruit plantation,
operate dairy farming, poultry etc.
In August 2007 it
was reported that rekkit benkiser
will produce "Kalia" washing detergent in subject's plant instead of
in
In January 2010 it was reported that subject
is establishing a plant for manufacturing pollution reduction products for
trucks and buses, investing
In March 2011 it
was reported that subject intended to acquire 50% of ZOHAR DALIA CAA LTD.
(owned 50% by kibbutz Dalia and 50% by publicly traded EMILIA DEVELOPMENT
(O.F.G) LTD.), developers, manufacturers, marketers and exporters of detergents
intermediates, soaps and cleaning products, for
In April 2011 the
Anti-Trust Authority approved the merger, however so far the acquisition did
not take place.
The local cleaning and detergents market is estimated at
Notwithstanding
the lack of updated data from subject's officials, considered good for trade
engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.79 |
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1 |
Rs.86.37 |
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Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.