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Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
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Name : |
BUNNY BEE DESIGN AND MANUFACTURING LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
16.12.2002 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of baby and children products (home textile, bedroom accessories, strollers, etc.) and bedroom furniture. |
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No. of Employees : |
18 |
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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 – 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
BUNNY BEE DESIGN AND MANUFACTURING LTD.
Telephone 972
9 741 11 23/ 4
Fax 972
9 741 11 25
8
Ein Hai Street
KFAR MALAL
4592000 ISRAEL
A private limited company, incorporated as per
file No. 51-333833-5 on the 16.12.2002.
Subject assumed the activities of BUNNY -
BEE LTD., established in January 1988 and in August 1991 was struck-off from
the Registrar of Companies’ files. According to the Registrar of Companies,
BUNNY - BEE LTD. was owned by Tamarkin family, however we were informed in July
2002 that Mr. Frank Henley (subject's shareholder, relative of Tamarkin family)
practically controls the “Bunny Bee” brand and operate via a family company
KARNIT CREATION DESIGN OF DECORATIVE PROD
Authorized share capital NIS 50,000.00,
divided into -
50,000
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00
were issued.
1. Frank Henley, 50%,
2. Mrs. Mina Henley, 50%, wife of Frank.
1. Frank Henley,
2. Mrs. Mina Henley.
Importers and marketers of baby and children
products (home textile, bedroom accessories, strollers, etc.) and bedroom
furniture.
Also operating a retail store.
All purchase is from import. All imported
goods are sold via subject’s retail store, to private customers (only retail
basis).
Among foreign imported brands: BABY JOGGER,
BABY BJORN, BLOOM, GITTABAGS, BUGABO, ABC DESIGN, STOKKE, and more.
Operating from premises (offices, retail
store and showroom), owned by shareholders on a plot of 9,000 sq. meters, of
which 2,000 sq. meters serve subject, in 8 Ein Hai Street, Kfar Malal (a
locality part of Hod Hasharon).
Having 18 employees, as of mid 2011 (current
number unavailable, believed to be similar).
Stock was valued at NIS 700,000 in mid 2011.
Property (9,000 sq. meters) owned by
shareholders in 8 Ein Hai Street, Kfar Malal is valued at US$ 2,500,000.
Later and other financial data not
forthcoming.
There is 1 charge for an unlimited amount, as well as 1 charge for the
sum of NIS 163,600.00 registered on the
company's assets (vehicles), in favor of Bank Leumi Le'Israel Ltd. (last charge
placed in June 2010).
2008 sales claimed to be NIS 6,000,000.
2009 sales claimed to be NIS 7,000,000.
2010 sales claimed to be NIS 8,000,000.
Later sales figures not forthcoming.
Bank Leumi Le'Israel Ltd., Hod Hasharon Branch
(No. 943), Hod Hasharon, account No. 140200/01.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
Nothing unfavorable learned (we traced
couple of claims subject was involved in but appear to be insignificant).
Despite our efforts, so far we were unable
to speak with subject's general managers, as they were always too busy to take
our calls. We shall try to reach them later and update you accordingly.
The activities of the “Bunny Bee” brand are
veteran and known for its quality. In the past, they also used to manufacture
goods.
According to
sources in the branch, the local market for baby and small children products is
in volume of circa NIS 600 million annually.
Notwithstanding
the lack of details from subject's officials so far, considered good for trade engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.33 |
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1 |
Rs.84.30 |
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Euro |
1 |
Rs.67.45 |
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.