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Report Date : |
18.02.2013 |
IDENTIFICATION DETAILS
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Name : |
PACKO (I.L) LTD. |
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Registered Office : |
P.O. Box 1468 Mishmarot Industrial Compound Pardes Hana – Karkur 3711401 |
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Country : |
Israel |
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Date of Incorporation : |
07.04.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufactures and marketers of surface wrapping
machines. |
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No. of Employees : |
15 employees (Estimated) |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
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. 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.
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Source : CIA |
PACKO (I.L) LTD.
(Also
trading as: PACKO GROUP PACKING SOLUTIONS)
Telephone 972
4 622 21 20
Fax 972
4 622 21 21
P.O. Box 1468
Mishmarot Industrial Compound
PARDES HANA – KARKUR 3711401 ISRAEL
A private limited company, incorporated as per
file No. 51-367595-9 on the 07.04.2005.
Subject was established to take over the activities
of PACKO TECNOLOGIES LTD., incorporated in 1997, due to taxation reasons.
Authorized share capital NIS 100,000.00, divided
into -
100,000 ordinary shares of NIS 1.00
each,
of which 100 shares amounting to NIS 100.00 were
issued.
Subject is fully owned by Eli Shani.
Eli Shani.
Manufactures and marketers of surface wrapping
machines.
Also importers and marketers of packaging machines,
and various packaging accessories such as adhesive tapes, tie machines, shrink
machines, packaging materials, etc.
Among clientele: TNUVA, SANO BRUNOS ENTERPRISES,
TAMBOUR, STRAUSS GROUP, and more.
Most purchase is from import.
Sole local representative of (among others):
MEGA-PLAST, of Greece,
O.M.S., MANULI, PLASTO TECHNICA, all of Italy.
Customs agent: AVI-RAM CARGO.
Operating from rented premises, on an area of
1,500 sq. meters, in Mishmarot Industrial Compound, Pardes Hana –
Karkur.
Current number of employees not forthcoming,
estimated to be around 15 employees, though in some places it is mentions that
subject has arounf 20 employees (had 14 employees at of the beginning of 2011,
same as in the end of 2009).
Current stock was valued at NIS 2,500,000 in the
end of 2011 (was valued
NIS 2,500,000 in the beginning of 2011 and NIS
Other/ later financial data not forthcoming.
There are 2 charges for unlimited amounts
registered on the company's vehicles, in favor of leasing companies, as well as
2 charges amounting to
NIS 330,000.00 registered on the company's assets, in favor of Bank Hapoalim
Ltd. (last charge placed December 2009).
2007 sales claimed to be NIS 8,000,000.
2008 sales claimed to be NIS 10,000,000.
2009 sales claimed to be NIS 14,000,000.
2010 sales claimed to be NIS 17,500,000.
2011 sales claimed to be NIS 21,000,000.
Later sales figures not forthcoming.
PACKO TECHNOLOGIES LTD., sister company,
non-active.
Bank Hapoalim Ltd., Netanya Industry Branch
(No. 598), Netanya, account
No. 77766.
A check with the Central Banks' database did not
reveal any negative information regarding subject's a/m account.
Nothing unfavorable learned.
Despite our efforts, we were unable to reach
subject's General Manager, as he is very busy. We left messages, and in case he
returns with any significant new data, we shall update you accordingly.
Subject may be good for trade engagements and certain credits, however
the fact we have been unable to receive any updates on the company since end of
2011 we prefer to remain cautious and not recommend on credits at this point..
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.99 |
|
|
1 |
Rs.83.72 |
|
Euro |
1 |
Rs.72.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.