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Report Date : |
06.11.2012 |
IDENTIFICATION DETAILS
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Name : |
Y. SOLOMON HAVAYA SHEBAKLI LTD. |
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Registered Office : |
Farm # 135 Ben Zakai 7921000 |
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Country : |
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Date of Incorporation : |
28.10.1998 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of household products. |
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No. of Employees : |
Not Available |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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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 |
ISRAEL - ECONOMIC OVERVIEW
Israel has a technologically advanced
market economy. It depends on imports of crude oil, grains, raw materials, and
military equipment. Cut diamonds, high-technology equipment, and agricultural
products (fruits and vegetables) are the leading exports. Israel usually posts
sizable trade deficits, which are covered by tourism and other service exports,
as well as significant foreign investment inflows. The global financial crisis
of 2008-09 spurred a brief recession in Israel, but the country entered the
crisis with solid fundamentals - following years of prudent fiscal policy and a
resilient banking sector. The economy has recovered better than most advanced,
comparably sized economies. In 2010, Israel formally acceded to the OECD.
Natural gasfields discovered off Israel's coast during the past two years have
brightened Israel's energy security outlook. The Leviathan field was one of the
world's largest offshore natural gas finds this past decade. In mid-2011,
public protests arose around income inequality and rising housing and commodity
prices. The government formed committees to address some of the grievances but
has maintained that it will not engage in deficit spending to satisfy populist
demands.
Source : CIA
Y. SOLOMON HAVAYA SHEBAKLI LTD.
Telephone 972 8 933 19 99; 933
22 21
Fax 972 8 933 21 11
Farm # 135
BEN ZAKAI 7921000 ISRAEL
A private limited
company, incorporated as per file No. 51-269326-8 on the 28.10.1998, continuing
activities which originally began in 1976.
Note: The Hebrew
term “Havaya Shebakli” in subject’s style is translated into “Experience in the
Utensil”.
Authorized share
capital NIS 37,500.00, divided into –
37,500 ordinary shares of NIS
1.00 each,
Of which 100 shared
amounting to NIS 100.00 were issued.
1. Itzhak Solomon, 50%,
2. Ms. Anat Solomon, 50%.
Itzhak Solomon.
Importers and
marketers of household products.
We assume that
subject's activities are intertwined with those of sister company Y. SOLOMON
LTD.
Sales are to
retail stores, as well as to private costumers.
Sales are also via
e commerce.
Among clientele:
MAX STOCK, STOP PETACH TIKVA, HOME STYLE, ZOL SHOP, EIZE YOFI, SUPER STOCK (all
are retail household stores), and more.
Operating from
premises (office and logistics center), on an area of 5,000 sq. meters, in farm
#
Number of
employees not forthcoming.
Financial data not
forthcoming.
There are 20
charges for unlimited amounts, as well as 2 charges for the total sum of NIS
641,000.00 registered on the company’s assets (financial assets, fixed assets
and vehicles), in favor of Bank Hapoalim Ltd., Mizrahi Tefahot Bank Ltd. and a
leasing company. Last 13 charges placed since 2007 were on vehicles/machinery
(last 2 charges placed March 2012).
Sales figures not forthcoming
Y. SOLOMON LTD.,
sister company, marketers of household products. Company does not import goods.
Bank Hapoalim Ltd.,
branch data not forthcoming.
Nothing
unfavorable learned.
Despite our efforts, we were unable to speak with subject's officials,
as they were always unavailable. We left messages which so far remain
unanswered. In our previous attempts to receive
data officials refused to disclose any data.
Subject is a
veteran business.
According
to the Central Bureau of Statistics (CBS), 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).
Considering
the fact we were unable to get data from subject's officials, dealings are
recommended on secure 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.08 |
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1 |
Rs.86.68 |
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Euro |
1 |
Rs.69.36 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.