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Report Date : |
26.02.2013 |
IDENTIFICATION DETAILS
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Name : |
DANI HAKIM INTERNATIONAL TRADING LTD. |
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Registered Office : |
34 Haprachim Street Kfar Yedidya 4294000 |
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Country : |
Israel |
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Date of Incorporation : |
18.02.2003 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Agents of factories and plants in the Far East, mostly in China, in the clothing sector. |
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No. of Employees : |
2 |
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 : |
-- |
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 |
|
Moderate |
B1 |
|
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
DANI HAKIM
GARMENTS AND TEXTILE
Correct Name: DANI HAKIM INTERNATIONAL TRADING LTD.
Telephone 972 9 832 08 09
Fax 972 77 704 10 14
34 Haprachim Street
KFAR
YEDIDYA 4294000 ISRAEL
A private limited company, incorporated as per file No. 51-338352-1 on
the 18.02.2003.
Authorized share capital NIS 10,000.00, divided into -
10,000 ordinary shares of NIS
1.00 each,
of which 100 shares
amounting to NIS 100.00 were issued.
Subject is fully
owned Dani Hakim.
Dani Hakim.
Agents of factories and plants in the Far East, mostly in China, in the
clothing sector.
Import is via subject's clientele, subject serves as a broker only.
Operating from an office at the private residence (rented) of Dani
Hakim, in 34 Haprachim Street, Kfar Yedidya Village (“Moshav Kfar Yedidya”,
where “moshav” is a local typical village or settlement, in particular a type
of cooperative agricultural community of individual farms), a locality near
Netanya
Having 2 employees (same as in previous years).
Financial data not forthcoming.
There is 1 charge for an unlimited amount registered on the company's
assets (vehicle), in favor of a leasing company PAMA FINANCE (charge placed in
September 2008).
Sales figures not forthcoming.
SOFTUB ISRAEL LTD., fully owned by Dani Hakim and his wife, importers
and marketers of jacuzzis.
Israel Discount
Bank Ltd., Shikun Bavli Branch (No. 127), Tel Aviv.
Nothing
unfavorable learned.
Subject's General
Manager, Dani Hakim, refused to disclose financial data.
Dani Hakim informed
us that he is a veteran in his line of business.
According to the Central Bureau of Statistics (CBS), import of
Clothing and Footwear in 2012 rose by 5.1% (in $ terms, marked 13.3% in NIS
currency terms), summing up to US$ 1,759 million. That data shows on the
continuing growing trend from the last couple of years – by 19% and by 13.4% in
2011 and 2010, respectively, in comparison to the previous year. Most import
comes from China. Main other countries of origin for textile goods are France,
Italy, Hong Kong and Turkey, Spain and the U.S.A.
The
local fashion market has been significantly influenced by the entrance of new international
fashion players to the already highly competitive local market (GAP, H&M in
2009/2010, Forever 21 in 2011).
Sources in the local fashion branch, in recent period the branch re-entered
stagnation, and drop in revenues. It is explained by several factors, including
the present slow-down in local economy, and the fierce competition where the
entrance of the strong international chains are dragging prices down but do not
bring to expansion of the fashion market.
From CBS preliminary National Accounts for
2012, it turns that in 2012 expenditure on private consumption grew by 2.8%
from 2011, after rising by 3.8% in 2011. Per-capita expenditure increased by
0.9% (1.9% rise in 2011).
Per capita expenditure for private consumption on non-durable goods
rose in 2012 by 1.4% per-capita (1.3% rise in 2011). This rise reflects
increases by 1.3% in expenditure on food, beverage
and tobacco and 4.5% expenditure on
clothing, footwear and personal effects.
Notwithstanding
the refusal to disclose financial details, considered good for trade
engagements.
Making no direct
import, credit figure seems irrelevant.
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.54.04 |
|
|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.71.41 |
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 |
|
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 |
|
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.