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Report Date : |
15.03.2012 |
IDENTIFICATION DETAILS
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Name : |
B.T.Y ELECTRONICS LTD. |
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Registered Office : |
6 Halahav Street, Industrial Zone, Holon 5885710 |
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Country : |
Israel |
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Date of Incorporation : |
10.06.2010. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of Home Entertainment
Systems, Audio Equipment, Dvds, Lcds, and Other Electrical |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
B.T.Y ELECTRONICS
LTD.
Telephone 972 3 550 91 62
Fax 972 3 550 91 61
6 Halahav Street
Industrial Zone
HOLON 5885710-ISRAEL
A private limited
company, incorporated as per file No. 51-428125-2 on the 10.06.2010.
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 102.00 were
issued.
Subject is fully
owned by Yossef (Yossi) Boaron.
1. Yossef (Yossi) Boaron, General Manager,
2. Ms. Esti Boaron.
Importers and marketers of home entertainment
systems, audio equipment, DVDs, LCDs, and other electrical and electronic appliances.
Operating from premises, in 6 Halahav Street, Industrial
Zone, Holon.
Number of employees
not forthcoming.
Financial data not
forthcoming.
There are 3 charges for unlimited amounts, as well as 3 charges for the
total sum of NIS 21,000.00 registered on the company's assets (financial
assets), in favor of The First International Bank of Israel Ltd. and Bank
Hapoalim Ltd. ((charges placed during 2009 and 2010).
Sales figures not
forthcoming.
According to our,
as of the beginning of 2009, Yossi Boaron held 50% in a private company called TAMOZ
- ELECTRIC APPLIANCES MARKETING
(S.Y.S) LTD., incorporated in 1999, a small company dealing in small electrical
appliances, providing repair services thereof. It is not confirmed that Mr.
Boaron still holds shares in this company to-date.
Bank Hapoalim Ltd., Sheshet Hayamim Branch (No. 758), Holon, account No.
555822.
A check with the Central Banks' database did not
reveal any negative information regarding subject's a/m account.
The First
International Bank of Israel Ltd., branch data unavailable.
We traced several
consumers' complaints on subject (also calling to avoid buying from them due to
problems in support and after-sales service).
Apart of the
above, we did not trace anything detrimental on subject.
Subject's owner and General Manager, Mr. Yossi Boaron, refused to disclose any data, besides general line of business.
Subject's goods
are sold also via e-shopping sites (Walla, Electra Computers. Allsale,
nanashops).
Subject deals in
"parallel import" of consumers' electrical goods, as it sells –based
on publications- goods by SAMSUNG, LG and PIONEER for instance (while it is not
the local official representative or dealer for such).
The
whole electrical domestic appliances and air-conditiners (excl. computers
and cellular phones & accessories) local
market is estimated at NIS 7 - 7.5 billion per year (up from NIS 6.5 billion in 2007-2008, much due to the increase
in consumption of Plasma and LCD TVs). Goods are sold in some 1,800 point of
sales, dominated (estimated 60%) by the large chains (which are also
importers).
According to Central Bureau of Statistics (CBS) data, import
of Furniture and Domestic Electrical Equipment grew in 2011 by 16.1% from 2010,
summing up to NIS 8,975 million. This is after 9.4% rise in 2010 from 2009
(when it withdrew by 2.7% from 2008 due to the slow-down in the local market).
However, it should
be noted that based on CBS data in 2011 2nd half the local market
has entered slow-down mainly due to macro economic reasons (connected with the
global economic impact) and indications are that the market will continue
facing slow-down in coming period.
Private consumption expenditure per capita
grew in total by 1.7%, after rising 3.3% in 2010 and decrease of 0.3% in 2009.
Per capita purchase of Durable Goods grew by 5.8% (11.3% in 2010 and 9.8%
decrease in 2009). Breakdown of durable goods purchasing shows that purchase of
domestic electrical appliances rose by 17.8%, while purchase of furniture and
equipment for the household dropped by 5.3% per capita.
Rate of import and
sales of DVDs and TV sets (Plasma and LCD TVs)
has been rising constantly during the last years.
Considering the refusal to disclose data,
dealings are recommended on a cash-in-advance basis only.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.90 |
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|
1 |
Rs.78.14 |
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Euro |
1 |
Rs.65.08 |
RATING EXPLANATIONS
|
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 |
-- |
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.