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Report Date : |
22.02.2013 |
IDENTIFICATION DETAILS
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Name : |
SHAKED HAKESEM LTD. |
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Registered Office : |
P.O. Box 50434, Tel
Aviv (6150302) 4 Koifman Street, Sharbat House Tel Aviv 6801296 |
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Country : |
Israel |
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Financials (as on) : |
30.09.2012 (Consolidated) |
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Date of Incorporation : |
08.03.2007. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers of dried
foodstuff, mostly commodities, including cereals, dried fruits, nuts, rice,
legumes, sesame, coffee, spices, etc. |
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No. of Employees : |
Not Available |
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 : |
Slow |
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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
SHAKED HAKESEM LTD.
Telephone 972 3 519 55 55; 510 69 69
Fax 972 3 510 70 10
P.O. Box 50434, Tel
Aviv (6150302)
4 Koifman Street,
Sharbat House
TEL AVIV 6801296 ISRAEL
A private limited company, incorporated as
per file No. 51-395049-3 on the 08.03.2007.
Authorized share capital NIS 50,000.00
divided into -
50,000
ordinary shares of NIS 1.00 each,
fully issued.
Subject is fully owned by HAMAMA MEIR TRADE
(1996) LTD., a public limited company, whose shares are
traded on the Tel Aviv Stock Exchange, controlled by Eliyahu Hamama, 36.8%, Meir Hamama, 32.6% and Josef Hamama, 8.2%.
1.
Eliyahu (Eli) Hamama,
General Manager,
2.
Meir Hamama.
Eliyahu (Eli) Hamama
Importers of dried foodstuff, mostly commodities, including cereals, dried fruits, nuts,
rice, legumes, sesame, coffee, spices, etc.
All a/m good are sold to parent company
HAMAMA MEIR TRADE, which marketers these goods.
Subject was established for the sake of
obtaining import licenses, and import quotas, and besides the import and the
sale to parent company, subject has no other commercial activity.
Operating from
offices, owned by affiliated company, in 4 Koifman Street, Sharbat House, Tel
Aviv, which serves the HAMAMA Group.
Having no employees in subject.
Having 52 employees in HAMAMA MEIR
TRADE as of end of 2011.
Financial data is included in the
consolidated B/S of parent company, HAMAMA MEIR TRADE (1996) LTD., which shows:
NIS
(thousands)
31.12.2011 30.09.2012
ASSETS
Current assets:
Cash
and cash equivalents 543 547
Customers 149,001 150,323
Other debtors 1,822 2,673
Stock 138,753 157,022
290,119 310,565
Non-current assets:
Customers 1,989 2,140
Fixed assets, net 2,900 2,912
Other non-current assets 1,466 1,523
6,355 6,575
296,474 317,140
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LIABILITIES
Current liabilities 203,386 221,337
Non-current liabilities 17,466 9,461
Equity 75,622 86,342
296,474 317,140
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=======
HAMAMA MEIR TRADE current market value US$
17.1 million.
There are no charges registered on the company's assets.
HAMAMA
MEIR TRADE (1996) LTD.
Consolidated
Statement of Income
NIS
(thousands)
Year
ended 31.12
2009 2010 2011
Sales 390,442 388,652 444,410
Gross profit 27,528 27,686 40,821
Operating income 7,347 11,467 23,364
Pre-tax income
(loss) (143) 5,615 11,770
Net income (loss) (362) 4,267 8,923
======= ======= =======
Consolidated first 9 months of 2012 sales
were NIS 358,271,000 (8.1% increase comparing to the parallel period in 2011),
making a gross profit of
NIS 33,710,000, an operating income of NIS
22,116,000, and a net profit of
NIS 10,703,000.
Sales figures not forthcoming.
Bank data not forthcoming.
We did not find an active file on subject’s
name in the Tax Authorities’ Files.
Subject's owner and General Manager, Mr.
Gershon Burnstein, refused categorically to disclose any details.
We did not find anything detrimental on
subject or its owner.
Dealings, if any, are recommended on cash in
advance basis only.
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.54.48 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.72.23 |
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 |
|
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.