MIRA INFORM REPORT

 

 

Report Date :

12.09.2012

 

IDENTIFICATION DETAILS

 

Name :

ORGANIC AGE LTD.

 

 

 

 

Registered Office :

P.O. Box 2216 11 Yochanan Hasandlar Street Industrial Zone Kfar Saba 4442611          

 

 

 

 

Country :

Israel

 

 

 

 

Date of Incorporation :

21.09.2010.

 

 

 

 

Legal Form :

Private Limited Company

 

 

 

 

Line of Business :

Imports and marketers organic products, including oils, natural healthcare products, etc.

 

 

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate

Payment Behaviour :

Unknown

Litigation :

--

 

 

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

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

Company name and address      

 

ORGANIC AGE LTD.

Telephone  972 9 774 87 54

Fax           972 9 774 87 54

P.O. Box 2216

11 Yochanan Hasandlar Street

Industrial Zone

KFAR SABA     4442611         ISRAEL

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-450028-9 on the 21.09.2010.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 100,000.00, divided into -100,000 ordinary shares of NIS 1.00 each,

of which 100 shares amounting to NIS 100.00 were issued.

 

 

SHAREHOLDERS

 

Subject is fully owned by Aviv Falach.

 

 

SOLE DIRECTOR

 

Aviv Falach.

 

 

JOINT GENERAL MANAGERS

 

1.    Aviv Falach,

2.    Uri Falach.

 

 

BUSINESS

 

According to our, imports and marketers organic products, including oils, natural healthcare products, etc.

Exact line of business not forthcoming.

 

Operating from premises in 11 Yochanan Hasandlar Street, Industrial Zone, Kfar Saba.

 

Number of employees not forthcoming.

 

 

MEANS

 

Financial data not forthcoming.

 

There are 3 charges for unlimited amounts registered on the company's assets (vehicles), in favor of a leasing company (last 2 charges placed August 2012).

 

 

REVENUES

 

Sales figures not forthcoming.

 

 

OTHER COMPANIES

 

According to our records, Mr. Uri Falach owns (99%, his wife Gila holds the other 1%) JASMIN COSMO TEVA LTD., established 1999, importers and distributors of aromatic oils, medical herbs and natural healthcare products. Operating from same address as subject. We do not know whether JASMIN is active commercially.

 

 

BANKERS

 

Bank data not forthcoming.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

So far subject's co--General Manager, Nr. Uri Falach, refused to disclose any data. He asked us to send them a fax with our request, which we did, and he will consider it. In case he returns with further data, we will update you accordingly.

 

The local market volume for organic food is estimated at NIS 300 million per year (steady over the last few years). This market has been developing in recent years with expectations to be growing, however in practice, also due to the economic situation (which harms mainly the market for products which are considered luxuries), it does not reach a mere 1% of total foodstuffs sales in Israel.

Most purchasing by consumer is in the large marketing chains (around 50%), while some 28% is from nature stores.

 

 

SUMMARY

 

Dealings are recommended on secured 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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.52

UK Pound

1

Rs.88.85

Euro

1

Rs.70.85

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<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 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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.