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Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
20 Hamagshimim Street, Kiryat Matalon Industrial Zone, Petach Tikva 4934829 |
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Country : |
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Year of Establishment : |
1980 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturers, importers, marketers and exporters of bedding textile
and towels. |
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No. of Employees : |
08 |
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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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 |
ATLANTIC BEDDING MANUFACTURERS
(Also trading as:
"ATLANTIC")
Telephone 972 3 923 51 20
Fax 972 3 923 51 18
20 Hamagshimim
Street
Kiryat Matalon
Industrial Zone
PETACH TIKVA 4934829 ISRAEL
A sole
proprietorship, established in 1980.
Operating under Licensed Dealer No.
031277460.
The business is registered with the Tax
Authorities’ Files under the name of "LEVI GABI ATLANTIC YATZRANIM"
("Yatzranim” means “Manufacturers” in Hebrew).
Gabi Levi.
Gabi Levi.
Manufacturers, importers, marketers and exporters
of bedding textile and towels.
Some half of sales are to hotels and other vacation
resorts (e.g. hotels chains FATTAL HOTELS, RIMONIM, ATLAS HOTELS, PRIMA HOTELS,
AFRICA ISRAEL HOTELS), the other half is hospitals and old age homes,
wholesalers and retail chain stores. Also sells via e-Shopping websites.
10% of sales are export.
Operating from rented premises, on an area of 400
sq. meters, 20 Hamagshimim Street, Kiryat Matalon Industrial Zone, Petach
Tikva.
Having 8 employees
(same as in 2010).
Current stock is
valued at US$ 1,000,000. Subject's owner commented that the inventory level is
relatively high since he projects that in 2012 sales will keep rising
significantly.
Other financial
data not forthcoming.
2008 sales claimed
to be US$ 1,500,000, 15% of which were for export.
2009 sales claimed
to be US$ 1,500,000, 15% of which were for export.
2010 sales claimed
to be US$ 2,000,000, 10% of which were for export.
2011 sales claimed
to be US$ 2,500,000, 10% of which were for export.
ATLANTIC BEDDING MANUFACTURERS, a non-active partnership.
Israel Discount Bank Ltd., Ramat Gan Branch (No. 040), Ramat Gan,
account No. 457779.
A check with the Central Banks' database did not
reveal any negative information regarding subject's a/m account.
Nothing unfavorable learned.
Subject is a
veteran business.
From Central
Bureau of Statistics data, import of Household Utensils in 2011 rose by 7.3%
from 2010, summing up to US$ 589.4 million. This comes after in 2010 import
rose by 15.8% from 2009 (2009 level was similar to 2008).
The local
household products market is considered highly competitive after reaching
market saturation. It includes household textile, tableware and kitchenware and
utensils, bath accessories and ornaments &decorative items, ceramic and
glass ware, etc. According to estimations, the local household products market
volume reaches NIS 2.5 – 3 billons annually (of which circa NIS 1 billion for
“home textile”), and includes retail, wholesale, institutional markets (Retail
chains capture 30% of the market share, specialization stores 20%, while the
institutional and workers unions sector has 50% share).
According to Central Bureau
of Statistics (CBS), import of fabrics and yarns rose in 2010 by 16.6%, parallel to
the recovery in general in the local economy in 2010 (import fell in 2009 by
17.2% from 2008 due to the slow-down in economy). The trend continued in 2011, though in a much lower pace: import rose
2.1% comparing to 2010 to US$ 698.6 million. That reflects the current
market conditions which point on a certain
slow-down in the local economy since mid 2011, after a stronger first half of
2011.
Chinese production comprises the largest
portion of imported textile goods followed by France, Italy, Hong Kong and
Turkey. The increase in imports emanates from the exposure to foreign markets
policy by the State.
Good for trade
engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
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UK Pound |
1 |
Rs.86.46 |
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Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.