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Report Date : |
19.08.2013 |
IDENTIFICATION DETAILS
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Name : |
ELIYAHU HASSON LTD. |
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Registered Office : |
P.O. Box 3036, Petach Tikva 10 Imber Street Kiryat Arieh Industrial Zone Petach Tikva 4951144 |
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Country : |
Israel |
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Date of Incorporation : |
30.10.1994 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Local purchasing, importers and marketers of marble, granite stone and
natural stone, as well as marble processing equipment. |
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No. of Employees : |
12 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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. 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
ELIYAHU HASSON LTD.
Telephone 972
3 922 70 55; 922 02 11
Fax
972 3
922 36 39
P.O. Box 3036, Petach Tikva
10 Imber Street
Kiryat Arieh
Industrial Zone
PETACH
TIKVA 4951144 ISRAEL
A private limited company, incorporated as per
file No. 51-204159-1 on the 30.10.1994.
Subject’s founder, Mr. Eliyahu Hasson,
incorporated subject after withdrawing from a private family company named Ephraim S.A. Hasson (1989) Ltd., where
he was serving as a shareholder and director. This latter company was
established in 1989, itself continuing a private company originally established
in 1977 by the Late Ephraim Hasson, father of subject's present shareholder,
Eliyahu Hasson (both companies were voluntarily liquidated).
Authorized share capital NIS 25,200.00, divided
into
25,200
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00 were
issued.
1. Eliyahu Hasson, 99%,
2. Mrs. Edna Hasson, wife of Eliyahu, 1%.
Eliyahu (Eli) Hasson
Local purchasing, importers and marketers of
marble, granite stone and natural stone, as well as marble processing
equipment.
Subject claims to have many relatively small
clients.
Among clients: BIALIK MARBLE, MARBLE A. VINKLER,
BEIT ISRAEL MARBLE, etc.
50% of purchases are imported, the rest purchased
locally.
Among local suppliers: CEASAR STONE-SDOT YAM (a
main supplier).
Operating from premises (offices, showroom, storage
facilities), owned by the shareholders, on an area of 3,500 sq. meters (of
which 1,000 sq. meters built), in 10 Imber Street, Kiryat Arieh Industrial
Zone, Petach Tikva.
Having 12 employees.
Stock was valued at NIS 10,000,000 in mid 2009.
Current value not forthcoming.
Property owned by the shareholders in Kiryat Arieh Industrial Area (where subject is operating
from), is valued at US$ 3,000,000.
Other financial data unavailable.
There is 1 charge for
an unlimited amount, as well as 1 charge for the sum of NIS 3,000,000.00
registered on the company's assets (financial assets), in favor of Union Bank of
Israel Ltd. and Bank Hapoalim Ltd. (charges placed in 1994 and in 2009).
2006 sales claimed to be NIS 30,000,000.
2007 sales claimed to be NIS 34,000,000.
2008 sales claimed to be NIS 36,000,000.
The first 6 months 2009 sales claimed to be NIS
18,000,000.
Full 2009 and 2010 sales not forthcoming.
2011 sales claimed to be NIS 36,000,000.
2012 sales claimed to be NIS 36,000,000.
2013 first 6 months sales claimed to be NIS
21,000,000.
Bank Hapoalim Ltd.,
Belinson Branch (No. 522), Petach Tikva,
account No. 500054.
A check with the Central Banks’ database did not reveal negative information
on subject’s above mentioned account.
Nothing unfavorable learned.
Eliyahu Hasson is veteran in the marble field.
This is a long established third-generation family business.
There are some 250 importers of ceramics and granite porcelain operating in
Israel, and the branch is highly competitive. Import of tiles in 2011 fell by
3% from 2010, and remained steady in 2012. In terms of sq. meters – to 27,155
thousand sq. meters (2012).
In 2011 some 35% of imported ceramic and porcelain goods were from Turkey
(down from 37% in 2010), 30.7% from China (in constant rise in recent years),
on account of the traditional suppliers from Spain (17.7%) and Italy (15%).
From the Central Bureau of Statistics, investments in construction for
dwelling in 2012 reached NIS 56.1 billion (which comprises 62% of total
investment in construction), higher by 6% (in real terms) from 2011.
Investments in construction not for dwelling (public institutions, commerce,
industry, etc.) and other construction works (e.g. roads, offices, industrial,
institutional), summed up to NIS 37 billion in 2012, a 2.5% rise from 2011.
Investments in infrastructures comprise 18% of total investments in
construction.
Private consumption expenditure by households in
2012 on Housing and on Housing Equipment grew by 3% and fell by 2.7% from 2011,
respectively, in annual calculation (grew by 2.8% and 20%, respectively, in
2011 from 2010).
The building sector indicators show ambiguous signs in recent periods.
Volume of building starts for dwelling (which is an indicator for the trend in
the building sector) in 2012 indicated a 13% decrease from 2011, reaching close
to 40,000 new apartments, though building starts in the 4th quarter
marked a 40% rise from the previous quarter. The decline in 2012 came after a
growth trend in building starts in the previous couple of years (9% in 2011 and
7% rise in 2009).
Number of dwellings transactions rose by 19% in 2012 from 2011 (when it
fell by 18% from 2010), in total of 102,600 transactions (rise in both new and
second-hand apartments).
Good for trade
engagements.
Note: Since 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.61.82 |
|
|
1 |
Rs.96.57 |
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Euro |
1 |
Rs.82.45 |
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 |
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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 |
-- |
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.