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Report Date : |
07.02.2013 |
IDENTIFICATION DETAILS
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Name : |
SMITH TOOLS HUNTER LTD. |
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Formerly Known As : |
SMITH TOOLS LTD |
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Registered Office : |
4 Hacharoshet Street Industrial Zone Nesher 3688104 |
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Country : |
Israel |
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Date of Incorporation : |
23.07.1959 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of
mainly working hand tools for building and various industries, as well as
hardware products, gardening tools, key duplication machinery, locks, drills,
gardening tools, glues, ropes, chains and cable accessories, safes, tills and
more. |
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No. of Employees : |
20 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
SMITH
TOOLS LTD.
Correct
Name: SMITH TOOLS HUNTER LTD.
Telephone
972 4 841 21 82
Fax
972 4 840 52 78
4 Hacharoshet
Street
Industrial Zone
NESHER 3688104 ISRAEL
The business was originally incoporated as a private
limited company on the 23.07.1959 uder the name SMITH & SHAPIRA BROS. LTD.
Shareholders were members of the Smith and Shapira
families.
Following the withdrawl of the Shapira family from the
business the company was liquidated and business activities were taken over by
subject, a private limited company, incorporated as per file No. 51-123755-4 on
the 27.10.1987.
Originally registered uder the name SMITH TOOLS LTD.,
which changed to present name on the 06.11.2005.
Authorized share capital NIS 2,640.00, divided into -
2,640 ordinary shares of NIS
1.00 each,
of
which 100 shares amounting to NIS 100.00 were issued.
1.
Eitan Smith, 99%,
2.
Mrs. Amira Smith, wife of Eitan,
1%.
1.
Eitan Smith, General Manager,
2.
Mrs. Amira Smith,
3.
Ms. Ester Smith,
4.
Yoseph Smith.
Importers
and marketers of mainly working hand tools for building and various industries,
as well as hardware products, gardening tools, key duplication machinery,
locks, drills, gardening tools, glues, ropes, chains and cable accessories,
safes, tills and more.
Subject
sells to many building equipment stores, large chains, wood and iron
warehouses, tools storage rooms, contractors and more. Having some 1,000
clients.
Amongst
clientele: AZRIEL MARKETING, VINARSKY S. & CO., TECHNO SHARON, etc.
All
of subjects goods are imported.
Local
representatives of (among others):
HUNTER,
BELLE, both of China,
YAMA,
of Taiwan.
Operating
from owned premises, on an area of 2,000 sq. meters, in 4 Hacharoshet Street,
Industrial Zone, Nesher (to where they moved from 21 Mordehai Maklef Street,
Check Post, Haifa).
Having
20 employees.
Current
stock is valued at NIS 10,000,000.
Owend
property in 4 Hacharoshet Street, Industrial Zone, Nesher (where subject is
operating from) is highly valued.
There
are 10 charges for unlimited amounts registered on the company's assets
(financial assets and equipment), in favor of The First International Bank of Israel Ltd.
and a communications company (last charge placed in September 2012).
2010
sales claimed to be NIS 21,000,000.
2011
sales claimed to be NIS 24,000,000.
2012
sales claimed to be NIS 27,000,000.
The
First International Bank of Israel Ltd., Main Haifa Branch (No. 006), Haifa.
Nothing
unfavourable learned.
This
a very long established business.
Despite the current general weakness in
local markets (negatively affected by the global economy), 2011 ended with
significantly improved economic indicators compared to 2010 in terms of gross
domestic investment in machinery and other equipment for the manufacturing
industry (excl. ships & aircrafts).
From the Central Bureau of Statistics data
on gross import of investment goods reveals that the segment of import of
Tools, Equipment, Implements & Accessories rose in 2011 by 37% from 2010 to
US$ 2,248.5 million.
Total gross domestic investment in machinery
& equipment from import alone, rose in 2011 by 52% from 2010 (12% rise in
2010 after falling in 2009 by almost 23%).
Import of investment products - machinery
and equipment segment - for the local industry rose in 2012 by 2% from 2011,
reaching NIS 26,529.2 million (in $ currency terms, import fell by 5%).
Good for trade
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.08 |
|
|
1 |
Rs.83.11 |
|
Euro |
1 |
Rs.72.01 |
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 |
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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 |
|
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 |
|
<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.