MIRA INFORM REPORT

 

 

Report Date :

28.12.2013

 

IDENTIFICATION DETAILS

 

Name :

MERTASH HAHADASH LTD.

 

 

Registered Office :

32 Kiryat Shaul Street Tel Aviv 6935013

 

 

Country :

Israel

 

 

Date of Incorporation :

25.03.2003

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers and marketers of marble.

 

 

No. of Employees :

06

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

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

company name and address

 

MERTASH HAHADASH LTD.

Telephone         972 3 648 03 53

Fax                   972 3 644 60 34

 

32 Kiryat Shaul Street

Tel Aviv 6935013 Israel

 

 

HISTORY & LEGAL FORMATION

 

A private limited company, incorporated as per file No. 51-339684-6 on the 25.03.2003.

 

 

SHARE CAPITAL

 

Authorized share capital NIS 100,000.00, divided into -

100,000 ordinary shares of NIS 1.00 each,

of which 3,000 shares amounting to NIS 3,000.00 were issued.

 

 

SHAREHOLDERS

 

1.         Mordo Solozin, 33.33%,

2.         Yoseph Solozin, 33.33%,

3.         Nadim Gambash, 33.33%.

 

 

SOLE DIRECTOR

 

Mordo Solozin.

 

 

JOINT GENERAL MANAGERS

 

1.         Mordo Solozin,

2.         Yoseph Solozin,

3.         Nadim Gambash.

 

 

BUSINESS

 

Importers and marketers of marble.

 

Operating from rented premises, on an area of over 3,000 sq. meters, in 32 Kiryat Shaul Street, Tel Aviv.

 

Having 6 employees, including shareholders (same as in last previous years).

 

 

MEANS

 

Financial data not forthcoming.

 

There are 2 charges for unlimited amounts registered on the company's assets (financial assets), in favor of Bank Leumi Le'Israel Ltd. and Israel Discount Bank Ltd. (charge placed in 2004 and in 2008).

 

 

REVENUES

 

2012 sales claimed to be NIS 15,000,000.

Projected 2013 sales are NIS 15,000,000.

 

 

BANKERS

 

Bank Leumi Le'Israel Ltd., Einstein Branch (No 833), Tel Aviv.

Israel Discount Bank Ltd., Neveh Avivim Branch (No. 118), Tel Aviv.

 

 

CHARACTER AND REPUTATION

 

Nothing unfavorable learned.

 

Subject's officials refused to disclose financial data, besides sales figures.

 

In early 2012, subject's co-General informed us that subject grew, increasing subject's premises from 2,500 sq. meters in mid to over 3,000 sq. meters.

 

 

SUMMARY

 

Good for trade engagements.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.06

UK Pound

1

Rs.102.03

Euro

1

Rs.85.27

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.