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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
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Name : |
BASIC COLORS LTD. |
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Formerly Known As : |
RAW AGENCY LTD. |
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Registered Office : |
8 Yehoshua Ben Nun Street Hod Hasharon 4523605 |
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Country : |
Israel |
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Date of Incorporation : |
10.03.1997. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of apparel (women's, men's and children's). |
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No. of Employees : |
Not Available |
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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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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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 |
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
BASIC COLORS LTD.
Telephone 972 9 744 40 84
Cellular 972 52 221 13 33
Fax 972 9 740 66 69
8 Yehoshua Ben Nun Street
HOD
HASHARON 4523605 ISRAEL
A private limited company, incorporated as
per file No. 51-245960-3 on the 10.03.1997.
Originally registered under the name MADNESS
LTD., which changed to RAW AGENCY LTD. on the 13.02.2006, which changed to the
present name on the 20.02.2011.
Authorized share capital NIS 32,700.00,
divided into -
32,700
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00
were issued.
Subject is fully owned by Uri Levi.
Uri Levi.
Importers and marketers of apparel (women's,
men's and children's).
Operating from premises in 8 Yehoshua Ben
Nun Street, Hod Hasharon.
Note: Based on another enquiry you sent
(Your 217294), premises also serve F – TARGET PRODUCTS LTD.
Number of employees not forthcoming.
Financial data not forthcoming.
There is 1 charge for an unlimited amount registered on the company's
assets (financial assets), in favor of Mizrahi Tefahot Bank Ltd. (charge placed
March 2011).
Sales figures not forthcoming.
According to our
(August 2009), Uri Levi holds 25% of TAXIN INVESTMENTS LTD. (additional 25% is held
by Ms. Doris Abekasis, the owner of F – TARGET PRODUCTS), a holding company
which fully owns MITOS INTERNATIONAL LTD.*, manufacturers, importers,
marketers, exporters and dealers in apparel (T-shirts, trousers, mainly for
kids and babies). MITOS held the exclusive concession for manufacturing and
marketing the following leading international brands: “Disney Princess”,
“Hannah Montana”, “Pooh”, “Bratz Babyz”, “Bratz Ponyz”, “X-small”, “TMNT”, etc.
COLAND
INTERNATIONAL INC., MITOS’s affiliated in Hong Kong.
According to our
files, Uri Levi served as General Manager of MITOS INTERNATIONAL.
* Note: so far we could not
contact MITOS - the telephone number we have
(+972-9-7695000) is disconnected, no other numbers are registered under
MITOS's name. Therefore, we could not confirm MITOS is actually active.
According to our:
Mizrahi Tefahot Bank Ltd., branch data not
forthcoming.
We did not find anything detrimental on
subject or its owner.
Subject's owner and General Manager, Mr. Uri
Levi, refused categorically to disclose any details.
According to reports from the end of 2012,
total revenues of the local fashion market are NIS 11 billion per annum.
The
local fashion market has been significantly influenced by the entrance of new international
fashion players to the already highly competitive local market (GAP, H&M in
2009/2010, Forever 21 in 2011).
Sources in the local fashion branch, in recent period the branch re-entered
slow-down and stagnation, and drop in revenues. There have been also few
collapses of veteran and big players in some niches, such as children's
apparel. The is explained by several
factors, including the present slow-down in local economy, and the fierce
competition where the entrance of the strong international chains are dragging
prices down but do not bring to expansion of the fashion market.
According to the Central Bureau of Statistics (CBS), import of
Clothing and Footwear in 2012 rose by 5.1% (in $ terms, marked 13.3% in NIS
currency terms), summing up to US$ 1,759 million. That data shows on the
continuing growing trend from the last couple of years – by 19% and by 13.4% in
2011 and 2010, respectively, in comparison to the previous year. Most import
comes from China. Main other countries of origin for textile goods are France,
Italy, Hong Kong and Turkey, Spain and the U.S.A.
From CBS preliminary National Accounts for
2012, it turns that in 2012 expenditure on private consumption grew by 2.8%
from 2011, after rising by 3.8% in 2011. Per-capita expenditure increased by
0.9% (1.9% rise in 2011).
Per capita expenditure for private consumption on non-durable goods
rose in 2012 by 1.4% per-capita (1.3% rise in 2011). This rise reflects
increases by 1.3% in expenditure on food,
beverage and tobacco and 4.5% expenditure
on clothing, footwear and personal effects.
Considering the refusal to disclose any
data, dealings are recommended on fully secured basis.
Note: Since the beginning of February 2013
Israel Post has started using a new area code method of 7 digits (the old
method of 5 digits is no longer valid).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.83.77 |
|
Euro |
1 |
Rs.71.33 |
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 |
|
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 |
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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 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.