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Report Date : |
03.08.2013 |
IDENTIFICATION DETAILS
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Name : |
MIAL IMPEX 1986 LTD. |
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Registered Office : |
25 Lazarov Street
New Industrial Zone Rishon Le-Zion 7565431 |
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Country : |
Israel |
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Year of Incorporation : |
1976. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, exporters
and marketers of dried fruits, legumes and pulses. |
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No. of Employees : |
22 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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. Its
major imports include crude oil, grains, raw materials, and military equipment.
Cut diamonds, high-technology equipment, and pharmaceuticals are among 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. Israel's economy also has weathered the
Arab Spring because strong trade ties outside the Middle East have insulated
the economy from spillover effects. 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, and production from the Tama field is expected to
meet all of Israel''s natural gas demand beginning mid-2013. 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
MIAL IMPEX LTD
Correct Name: MIAL IMPEX 1986
LTD.
Telephone 972
3 941 60 10
Fax 972
3 941 60 20
25
Lazarov Street
New
Industrial Zone
RISHON LE-ZION 7565431 ISRAEL
Originally incorporated as a private limited company under the name of MIAL
LTD., in 1976.
Following changes in the nature of business,
activities were taken over by subject, which incorporated as a private limited
company as per file
No. 51-115017-9 on the 11.11.1986.
Authorized share
capital NIS 82,640.00, divided into -
82,640 ordinary
shares of NIS 1.00 each,
of which 42,700 shares amounting to NIS 42,700.00 were issued.
1. Haim Levy, 33.33%,
2. Shmuel Levy, 33.33%,
3. Joseph Karako –Yagil, 33.33%.
According to the Registrar of Companies subject itself holds 23% of the shares,
equally divided between a/m shareholders.
Haim Levy.
Importers, exporters and marketers of dried fruits, legumes and pulses.
30% of sales are exports.
Among clientele: SAMARA FOOD MARKETING, many wholesalers.
70% of purchase is import
Amongst local suppliers: NETA AGRICULTURAL SOCIETY, SASSON & CO., etc.
Operating from premises (offices and a warehouse), on an area of 1,000 sq.
meters, owned by the shareholders, in 25 Lazarov Street, New Industrial Zone,
Rishon-Le-Zion and from a rented retail store, on an area of 100 sq. meters, in
19, Hachalutzim Street, Tel Aviv.
Having 22 employees (same as in the end of 2011).
Current stock is valued at NIS 20,000,000, similar to the end of 2011.
Property in Rishon Le-Zion where subject is operating from (owned by the
shareholders) is valued at US$ 3,000,000.
There are 15 charges
for unlimited amounts and 4 charges for the total sum of NIS 777,080.00 registered on the company's
assets (financial assets, equipment and vehicles), in favor of The State of
Israel, Bank Leumi Le'Israel Ltd., Israel Discount Bank Ltd., Bank Hapoalim Ltd.
and leasing companies (last 2 charge placed December
2012 on vehicles).
2009 sales claimed to be NIS 90,000,000, 30% for export.
2010 sales claimed to be NIS 90,000,000, 30% for export.
2011 sales claimed to be NIS 90,000,000, 30% for export.
2012 sales claimed to be NIS 90,000,000, 30% for export.
Bank Leumi Le'Israel Ltd., Allenby Business Branch (No. 802), Tel
Aviv, account No. 653500/87.
Bank Hapoalim Ltd., Ha'aliya Branch (No. 503), Tel Aviv, account No.
174017.
Israel Discount
Bank Ltd., Tel Aviv Main Branch (No. 010), Tel Aviv,
account
No. 186619.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m accounts.
Nothing unfavorable learned.
Subject is a long established business.
In the past suppliers reported favorably on subject's payment morality.
After several years of
constant growth, the consumer products market, which includes food, beverages
and household and personal care goods, ended 2012 with fixation and even
decrease in sales, according to Nilsen Market Research. The decrease intensified over
the last quarter of 2012, but was compensated by prices rise. In money terms,
the market grew by mere 0.7%, lest than the population growth rate (2% per
annum), reflecting the slow-down trend in the local economy which started in
2011 2nd half. Sales in the bar-coded consumer market reached NIS
40.4 billion. Sales of food in 2012 grew by 1.1%, reaching NIS 29.8 billion,
while in the beverage market sales fell by 2% to NIS 5.1 billion. Volume of personal care goods rose by 3% to NIS 3
billion, while sale of household increased by
1.5% to NIS 2.7 billion.
According
to Central Bureau of Statistics (CBS), import of food and
beverages to Israel in 2012 summed up to NIS 6,898 million, rising by 13.8%
from 2011 (a 5.5% rise in $ terms), continuing the upward growth trend from
2011 and 2010.
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.
Good for trade engagements.
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.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.