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Report Date : |
21.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MOMO MARBLE & SONS (2003) LTD. |
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Registered Office : |
3 |
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Country : |
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Date of Incorporation : |
11.12.2003. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, processors and marketers of marble. |
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No. of Employees : |
8 |
RATING & COMMENTS
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MIRAs 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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
MOMO MARBLE & SONS (2003) LTD.
Telephone 972 3 544 14 16
Fax 972 3 604 33 53
3 Hataarucha Street
Tel Aviv Port
TEL
AVIV 6350903 ISRAEL
A private limited company, incorporated as
per file No. 51-347763-8 on the 11.12.2003.
Authorized share capital NIS 40,000.00,
divided into -
40,000
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00
were issued.
Subject is fully owned by Shimon (Momo)
Avital.
Shimon (Momo) Avital.
Importers, processors and marketers of
marble.
Among clientele: MASLAVI CONSTRUCTION CO., MALIBU,
B. YAIR, and more.
Operating from rented premises (office and
showroom), on an area of 150 sq. meters, in 3 Hataarucha Street, Tel Aviv Port,
Tel Aviv, and from a rented warehouse, on an area of 2,000 sq. meters
(increased from 1,500 in 2011), in Kiryat Shaul, Tel Aviv.
Having 8 employees
(same as in 2011).
Current stock is valued at NIS 1,000,000.
Other financial data not forthcoming.
There are 5 charges for unlimited amounts registered on the company's
assets (financial assets, equipment and a vehicle), in favor of Mizrahi Tefahot
Bank Ltd., The First International Bank of Israel Ltd. and a company (last
charge placed in May 2011).
2010 sales claimed to be NIS 6,000,000.
2011 sales claimed to be NIS 8,500,000.
MOMO MARBLE LTD., non-active.
The First International Bank of Israel Ltd.,
Top Dan Branch (No. 094), Tel Aviv.
Nothing unfavorable learned.
Shimon (Momo) Avital is a veteran in the
marble business. In the past he was a member of Kibbutz Yiftach, working in the
kibbutz's plant MARBLE KIBBUTZ YIFTAH. He left the Kibbutz in 1994, and
continued working in the marble field since.
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).
Housing prices over the last years kept rising due to the shortage in
supply of new apartments, much due to structural fault in the allocation of
plots in State hands. In view of avoiding a real estate bubble and allowing
cheaper housing prices, the Israeli Government initiated recent reforms
designed to drive prices down in one hand, and increase supply on the other.
Indeed, since mid 2011 there has been drop in prices in many areas. However
there has been uncertainty in the market: buyers have been waiting prices to
fall further while contractors await prices to pick-up again. Demand fell due
to the negative economic climate, and on the supply side the banks have been
shutting down credits to contractors.
The slow-down in apartments and houses sales may have negative effects
on suppliers to the housing and construction branches.
Nevertheless, there are also some positive indicators; the Contractors'
Association report in February 2012 on modest growth in deals and prices in
recent months.
Good for trade engagements.
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.54.87 |
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|
1 |
Rs.86.46 |
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Euro |
1 |
Rs.69.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
|
-- |
NB |
New Business |
-- |
This score serves as a reference to assess SCs 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.