MIRA INFORM REPORT

 

 

Report Date :           

09.03.2012

 

IDENTIFICATION DETAILS

 

Name :

DINCO LTD.

 

 

Registered Office :

22 Keren Hayesod Street, Industrial Zone, Tirat Carmel 39026

 

 

Country :

Israel

 

 

Date of Incorporation :

09.12.1968

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers, marketers, installers and service providers of X-Ray, scientific and other medical imaging equipment, especially in the NDT sector, as well as for industrial uses

 

 

No. of Employees :

28

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 150,000.

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Israel

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name & address

 

DINCO LTD.

Telephone  972 4 813 15 15

Fax           972 4 813 15 16

22 Keren Hayesod Street

Industrial Zone

TIRAT CARMEL-39026-ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-050826-0 on the 09.12.1968.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 2.00, divided into -

                20,000 ordinary shares of NIS 0.0001 each,

of which 2,100 shares amounting to NIS 0.21 were issued.

 

(Note: The currency in share capital was originally in Old Israeli Shekel whose nominal value was 1 thousandth of the current New Israeli Shekel (NIS), converted in 1986).

 

 

SHAREHOLDERS

 

1.    Yair Zeiger, 50%,

2.    Mrs. Sara Zeiger, wife of Yair, 50%.

 

 

DIRECTORS

 

1.    Yair Zeiger, General Manager,

2.    Zeev Zeiger (son of Yair Zeiger).

 

 

BUSINESS

 

Importers, marketers, installers and service providers of X-Ray, scientific and other medical imaging equipment, especially in the NDT sector, as well as for industrial uses.

 

Sales are to medical centers, hospitals, HMOs, private medical imaging centers, universities, companies, etc.

Among clientele: CLALIT HEALTH SERVICES, MACCABI HEALTH SERVICES, Israel Defense Force, RAFAEL ADVANCED DEFENSE SYSTEMS, STRAUSS, HADASSA HOSPITAL, SCHNEIDER CHILDREN'S MEDICAL CENTER, Israel Police, MAZOR LACHAI VETERINARY HOSPITAL, SOROKA MEDICAL CENTER, and many more.

                                                                                                                               

Local sole representative of:

SHIMADZU, FUJIFILM (medical equipment), both of Japan,

METTLER TOLEDO, of USA,

DEKOM, of Germany.

 

Operating from owned premises, on a built area of 4,000 sq. meters (a 5 story building)), in 22 Keren Hayesod Street, Industrial Zone, Tirat Carmel.

 

Having 28 employees (same as in 2011).

 

 

MEANS

 

Current stock valued at US$ 1,700,000 (was valued at US$ 1,500,000 in 2011).

 

Owned property (5 floors in 22 Keren Hayesod Street, Tirat Hacarmel), where subject is operating from, is valued at US$ 4,000,000.

 

There are 5 charges for unlimited amounts, as well as 4 charges for the total sum of NIS 417,776.00 registered on the company’s assets (financial assets, vehicles and a medical system), in favor of Bank Leumi Le'Israel Ltd. and its leasing company (last 4 charges placed November – December 2011).

 

 

sales

 

2007 sales claimed to be US$ 8,000,000.

2008 sales claimed to be US$ 8,000,000.

2009 sales claimed to be US$ 8,000,000.

2010 sales claimed to be US$ 8,000,000.

2011 sales claimed to be US$ 8,000,000.

 

 

OTHER COMPANIES

 

D.N.R. IMAGING SYSTEMS LTD., non active, Yair Zeiger holds 27% of company; updated data not forthcoming).

 

BANKERS

 

Bank Leumi Le'Israel Ltd., Main Haifa Branch (No. 876), Haifa, account No. 71300/70.

 

A check with the Central Banks' database did not reveal any negative information regarding subject's a/m account.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Subject is a long established company, well known in its field.

 

Israel is considered one of the leading countries in the world in terms of investment in the Life Science and Biotechnology industry. In 2008 Israel was ranked 4th in investments in Biotechnology/GDP, while being among the leaders in the areas of investments and patents in Medical Device and Bio-Pharma fields.

 

During 2008 total of US$ 87 million were given to local Life Science firms by the Chief Scientist Office.

 

Local consumption market for medical and aesthetic electronic equipment and instrumentation was estimated at over US$ 1 billion (sales by local manufacturers and from import), based on the Ministry of Industry & Trade research in 2009.

 

There are some 160 local companies operating in the medical equipment field. According to the Ministry of Industry & Trade survey in 2008.

 

 

SUMMARY

 

Good for trade engagements.

Maximum unsecure credit recommended US$ 150,000.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.57

UK Pound

1

Rs.79.57

Euro

1

Rs.66.50

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.