MIRA INFORM REPORT

 

 

Report Date :

04.05.2012

 

IDENTIFICATION DETAILS

 

Name :

S. EISENBERG IMPORT & MARKETING MARBLE (1995) LTD.

 

 

Registered Office :

100 Halutzey Hataasiya Street Haifa Bay Haifa     2620101           

 

 

Country :

Israel

 

 

Date of Incorporation :

06.07.1995.

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers, traders and marketers of stone and marble.

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Unknown

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)

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 and address

                                                                                                  

S. EISENBERG IMPORT & MARKETING MARBLE (1995) LTD.

Telephone    972 4 841 74 14

Fax              972 4 842 22 21

100 Halutzey Hataasiya Street

Haifa Bay

HAIFA          2620101           ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-217336-0 on the 06.07.1995.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 27,100.00, divided into -

                 27,100 ordinary shares of NIS 1.00 each,

of which 100 shares amounting to NIS 100.00 were issued.

 

 

SHAREHOLDERS

 

Subject is fully owned by Shimon Eisenberg.

 

 

SOLE DIRECTOR & GENERAL MANAGER

 

Shimon Eisenberg.

 

 

BUSINESS

 

Importers, traders and marketers of stone and marble.

 

Operating from premises in 100 Halutzey Hataasiya Street, Haifa Bay Industrial Zone, Haifa.

 

Number of employees not forthcoming.

 

 

MEANS

 

Financial data not forthcoming.

 

There are 2 charges for unlimited amounts registered on the company's assets (financial assets), in favor of Bank Leumi Le'Israel Ltd. and Mizrahi Tefahot Bank Ltd. (last charge placed June 2000).

 

 

REVENUES

 

Sales figures not forthcoming.

 

 

BANKERS

 

Bank data not forthcoming.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Despite our efforts, we were unable to speak with subject's General Manager, as he was always unavailable. We left messages which so far remain unanswered.

 

There are some 250 importers of ceramics and granite porcelain operating in Israel, and the branch is highly competitive. Import of tiles in 2011 fell by 3% (in terms of sq. meters – to 27,130 thousand sq. meters) from 2010.

In 2011 some 35% of imported ceramic and porcelain goods were from Turkey (down from 37% in 2010), 30.7% from China (in constant rise in recent years), on account of the traditional suppliers from Spain (17.7%) and Italy (15%).

 

In general, indicators in 2011 of the building sector –similar to the trend of the local economy- were positive, continuing the improvement from 2010 after the slow-down in 2009. Investment in the local building branch rose by 5.9% in 2010 and by 9.2% in 2011. Investment in construction for dwelling rose by 13.4% in 2011(divided into rise of 13.1% by private building and 17.8% by public building), after rising of 12.7% in 2010 and 8.3% in 2009. Investment in construction not for dwelling and other construction works (e.g. roads, offices, industrial, institutions) grew by 4.4% in 2011(after 11% rise in 2010).

Consumption expenditure by households in 2011 on Housing and on Housing Equipment grew by 2.8% and by 20%, respectively, in annual calculation (grew by 2.5% and 7.5%, respectively, in 2010 from 2009).

 

Volume of building starts for dwelling in 2011 marked 9% increase from 2010, reaching 43,650 new apartments (after 7% rise from 2009), although in the last quarter of 2011 there was a decrease comparing to 2010, after 4 consecutive quarters of growth. The rise in building starts was thanks to the Government marketing efforts, however the upwards trend cooled down in 2011 2nd half, which generally characterized the stagnation and even retreat in the local real estate market, with a significant decrease the number of real estate transactions (number of dwellings transactions fell 17% in 2011 from 2010).

 

 

SUMMARY

 

Considering the lack of data from subject's General Manager, dealings are recommended on secured basis.

 

Note: Since the beginning of 2012 Israel Post started using a new area code method of 7 digits (the old method of 5 digits will still be valid till end of 2012).

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.23

UK Pound

1

Rs.86.14

Euro

1

Rs.69.98

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

 

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.