MIRA INFORM REPORT
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Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
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Name : |
TECHNO BAR LTD. |
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Registered Office : |
P.O. Box 5141,
Rishon Le-Zion (75150), 10 Lazarov Street, Industrial Zone, Rishon Le-Zion 75654 |
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Country : |
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Date of Incorporation : |
08.08.1973 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, traders
and marketers of stainless steel
products, industrial piping and metals to the industry |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
US$ 350,000. |
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Status : |
Moderate |
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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, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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 |
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.
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Source : CIA |
Company name & address
TECHNO BAR LTD.
(Also known as TECHNOBAR)
Telephone 972
3 961 23 33
Fax 972 3 961 92 43
P.O. Box 5141, Rishon Le-Zion (75150)
10 Lazarov Street
Industrial Zone
RISHON LE-ZION-75654-ISRAEL
A private limited company, incorporated as per file No. 51-065779-4 on the
08.08.1973, succeeding operation of a sole proprietorship, established in 1946.
In 1997 took over the business activities of its sister company SHLOMO
BARTAL & SONS LTD. (which turned into a real estate company).
Authorized share capital NIS 280.00, divided into -
2,799,000
ordinary shares (2,379,050 shares issued),
1,000 founder shares (issued), all of
NIS 0.0001 each,
of which shares amounting to NIS 238.005 were issued.
1.
Shlomo Bartal, 50%,
2.
Aharon Bartal, 50% of
founder shares and 25% of ordinary shares,
3.
Israel Bartal, 25% of
ordinary shares.
1.
Aharon Bartal, General
Manager, son of Shlomo Bartal,
2.
Shlomo Bartal.
Importers, traders and marketers of stainless steel products, industrial
piping and metals to the industry, including: plates, sheets, bars, pipes and tubes,
and accessories (fittings, flanges, valves and control valves, steam systems,
etc.).
All sales are to the local market.
Among customers: Ministry of Defense, AGAN CHEMICAL MANUFACTURERS, TNUVA,
STRAUSS GROUP/ ELITE, OSEM, DEAD SEA WORKS, THE ISRAEL ELECTRIC CORP.,
MAKTESHIM CHEMICALS WORKS, OIL REFNERIES, TEVA PHRAMACEUTICAL INDUSTRIES,
K.B.A. TOWNBUILDERS GROUP, INTEL, etc.
95% of purchases are imports.
Among local suppliers (which subject is a local distributor for): HABONIM
INDUSTRIAL VALVES, HAM-LET, MIDDLE EAST TUBE CO.
Among service suppliers: SAP ISRAEL.
Sole local representatives of:
JHONSON (KADANT), of USA (Fluid Handling)
AXAIR, of Switzerland.
Among foreign suppliers: MARCEGALI (Italy), etc.
Operating from the following premises:
1.
Offices and warehouses,
owned by the shareholders, on an area of 7,000 sq. meters, in 10 Lazarov
Street, Industrial Zone, Rishon Le-Zion.
2.
Owned warehouses, on an
area of 1,400 sq. meters, in Hebron Road, Sara Valley Industrial Zone, Beer
Sheva.
3.
A rented store, on an area
of 1,100 sq. meters in 41 Shlomo Bar Yoseph Street, Industrial Zone, Kiryat
Ata.
Had 100 employees as of the end of 2009 (same as in 2008). Current number
of employees not forthcoming.
Stock was valued at
NIS 50,000,000 at the beginning of 2009.
Other and later financial data not forthcoming.
There are 5 charges for unlimited amounts registered on company’s assets
(financial assets), in favor of the First International Bank of Israel Ltd. and
Bank Leumi Le'Israel Ltd. (last charge placed in November 2008).
2006 sales claimed to be circa NIS 140,000,000.
2007 sales claimed to be circa NIS 150,000,000.
2008 sales claimed to be circa NIS 140,000,000.
Later sale figures not forthcoming.
BARTAL SHLOMO & SONS LTD., owned by the
Bartal family, a real estate company.
TAHALICH-PROPERTIES & INVESTMENTS (1985)
LTD., a real estate company.
Bank Leumi Le’Israel Ltd., Rishon Le-Zion Business Branch (No. 671), Rishon
Le-Zion, account No. 91100/96 – main account.
A check with the Central Banks' database did not reveal any negative
information regarding subject’s a/m account.
Nothing unfavorable
learned.
Subject's General
Manager refused to provide any information without receiving the name of the
supplier on behalf of whom the inquiry is.
Subject is long
established family company, well known in its field. Among subject’s clients
are leading local industrial corporations.
Subject is ISO 9001:2000
certified.
According
to the Chairman of the Metal and Electricity sectors at the Manufacturers’
Association, sales of the various metal and electricity related industrial
sectors fell by 20% in 2009 (from 2008, when sales reached NIS 70 billion) due
to the significant slow-down in the local economy, affected by the global financial
and economic crisis.
The above
industries contracting trend was evident in 2008 after the long and significant
growth trend since 2004 (in 2007 the sectors’ overall
sales reached a climex of NIS 75.7 billion). The sectors have been witnessing a
gradual recovery that started in mid 2009, into 2010, paralell to the
improvement in the global markets.
According
to the Central Bureau of Statistics (CBS), import of metals raw
materials to the local industries in 2010 and 2011 1st quarter
showed an increasing trend, after a contraction in
CBS data reveals that gross domestic
investment in machinery and other equipment for the manufacturing industry
(both from import and domestic production) for 2010 rose by some 10% from 2009
(when it fell by 19% from 2008). Total gross domestic investment in machinery
and other equipment from import alone, rose by 12% (after falling in 2009 by
almost 24%).
Notwithstanding
the refusal to update financial data, considered good for trade engagements.
Maximum unsecured credit recommended US$ 350,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.34 |
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1 |
Rs.88.30 |
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Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.