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Report Date : |
04.01.2013 |
IDENTIFICATION DETAILS
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Name : |
BUCHMAN FEDER PACKAGING LTD. |
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Formerly Known As : |
B.F. IMPORT AND GENERAL TRADE LTD. |
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Registered Office : |
Bnei Brit Ave. Hanamal Junction Ashdod 77534 |
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Country : |
Israel |
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Date of Incorporation : |
05.12.1988 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of packaging materials (various kinds of sacks), and allied products. |
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No. of Employees : |
25 |
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) |
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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.
Source : CIA
BUCHMAN FEDER PACKAGING
LTD.
Telephone 972 3 518 03 35
Fax 972
3 681 65 81
Bnei Brit Ave.
Hanamal Junction
ASHDOD 77534 ISRAEL
A private limited
company incorporated as per file No. 51-134002-8 on the 05.12.1988, continuing
activities which began in 1926 by BUCHMAN ITZHAK & SONS LTD., which later
merged with TECHNO HUT LTD.
Originally registered under the name of B.F. YARN IMPORT AND TRADING LTD., which changed to F.L.B. YARN IMPORT AND TRADING LTD. on the 21.2.1992, which changed to B.F. IMPORT AND GENERAL TRADE LTD. on
the 01.02.1998, which changed to the present name on the 23.07.2007.
Authorized share
capital NIS 10,000.00, divided into -
10,000 ordinary shares of NIS
1.00 each,
of which 300 shares
amounting to NIS 300.00 were issued.
1. Ms. Tova Feder, 50%
2. Idan Hemi, 50%.
1. Idan Hemi, General Manager,
2. Yehezkel Feder.
Importers and marketers
of packaging materials (various kinds of sacks), and allied products.
Having some 1,000
clients.
Among clients:
SUGAT, DEAD SEA WORKS, HAIFA CHEMICALS, ISRAEL CHEMICALS, HAZERA, HAMAMA, etc.
Operating
from premises, owned by shareholders, on an area of 2,000 sq. meters, in Bnei
Brit Ave., Hanamal Junction, Ashdod (to where subject moved from 6 Abarbanel
Street, Tel Aviv in 2010).
Having 25
employees.
Current stock is
valued at several NIS millions.
Financial data not
forthcoming.
There are 10 charges for unlimited amounts
registered on the company's assets (financial assets, fixed assets and
vehicles), in favor of Bank Leumi Le'Israel Ltd., Bank Hapoalim Ltd., and
leasing companies (last 2 charges placed July 2012).
2010 sales claimed
to be NIS 30,000,000.
2011 sales claimed
to be NIS 31,000,000.
2012 sales claimed
to be NIS 33,000,000.
Affiliated
companies:
FEDER LTD.,
ITZHAK BUCHMAN
& SONS LTD.
Bank Leumi
Le'Israel Ltd., Hahashmona'im Business Branch (No. 817), Tel Aviv, account No.
423300/78.
A check with the
Central Banks’ database did not reveal any negative information regarding
subject’s a/m account.
Nothing
unfavorable learned.
Subject's activities are long established.
Subject is ISO 9001:2000 certified.
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. The growth trend continued into 2012 first 2 month, with a
4% increase from 2011.
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%).
Good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.42 |
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|
1 |
Rs.88.29 |
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Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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.