MIRA INFORM REPORT

 

 

Report Date :           

14.03.2012

 

IDENTIFICATION DETAILS

 

Name :

CINISRA LTD.

 

 

Registered Office :

P.O. Box 3005, Hod Hasharon (45130), Farm No. 5, Adanim 45925

 

 

Country :

Israel

 

 

Date of Incorporation :

07.06.2000

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers of natural and organic food products

 

 

No. of Employees :

3 employees

33 employees serving the Group (subject and L.I.V.)

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

US$ 40,000.

Status :

Small Company 

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 

 

CINISRA LTD.

Telephone  972 9 740 07 39

Fax           972 9 740 38 32

P.O. Box 3005, Hod Hasharon (45130)

Farm No. 5

ADANIM    45925             ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-296373-7 on the 07.06.2000.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 39,100.00, divided into -

                39,100 ordinary shares of NIS 1.00 each,

of which 360 shares amounting to NIS 360.00 were issued.

 

 

SHAREHOLDERS

 

1.    Eliyahu (Eli) Lavid, 50%,

2.    Ofer Sharabi, 50%.

 

Eli Lavid informed us the he acquired the shares of Ofer Sharabi, and by April 2012, after completing the final payment, he will hold 100% of subject. Mr. Ofer Sharabi is not active in subject any longer.

 

 

DIRECTORS

 

1.    Eliyahu (Eli) Lavid, General Manager,

2.    Ofer Sharabi.

 

 

BUSINESS

 

Importers of natural and organic food products.

 

All import is transferred to sister company L.I.V. (LIVE MORE IN NATURE) LTD. which markets the products

 

Goods are sold to nature stores in Israel.

Among clientele: EDEN TEVA, CASTEL (both are large organic food chain stores), and many more.

 

Sole local representatives of (among others):

ISSOLA, of Italy,

KADAM, of India.

 

Operating from rented premises, on an area of 700 sq. meters, in Farm No. 5, Adanim village (or “Moshav Adanim” in Hebrew), a locality near the town of Hod Hasharon. Premises serve also sister company L.I.V.

 

Subject's General Manager informed us that they intend to move to larger premises in the very near future.

 

Having 3 employees. Having 33 employees serving the Group (subject and L.I.V.).

 

 

MEANS

 

Subject holds no stock, all goods are transferred to L.I.V.

Financial data not forthcoming.

 

There are no charges registered on the company's assets.

 

 

sales

 

Sales figures not forthcoming.

 

 

OTHER COMPANIES

 

L.I.V. (LIVE MORE IN NATURE) LTD., established 1987, owned by Eliyahu Lavid and Ziv Lavid, traders and marketers of natural and organic food products, including subject’s.

 

 

BANKERS

 

The First International Bank of Israel Ltd., Ramat Aviv Branch (No. 082), Tel Aviv.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Subject's General Manager, Mr. Eli Lavid, refused to disclose financial data.

 

Eli Lavid informed us that recently a deal was signed in which 55% of L.I.V.'s shares will be sold to the owners of LEIMAN SCHLUSSEL LTD. (importers, marketers and distributors of foodstuffs, including chocolate, sweets, confectionary, cakes, coffee, etc.), among the leading in their field in the local market, marketing leading international premium brands. The remaining 45% will be held by Eli Lavid's son Lior Lavid.

 

The local market volume for organic food is estimated at NIS 300 million per year (steady over the last few years). This market has been developing in recent years with expectations to be growing, however in practice, also due to the economic situation (which harms mainly the market for products which are considered luxuries), it does not reach a mere 1% of total foodstuffs sales in Israel.

 

Most purchasing by consumer is in the large marketing chains (around 50%), while some 28% is from nature stores.

 

 

SUMMARY

 

Notwithstanding the refusal to disclose financial data, considered good for trade engagements.

Maximum unsecured credit recommended US$ 40,000.

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.85

UK Pound

1

Rs.77.97

Euro

1

Rs.65.62

 

 

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.