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Report Date : |
05.01.2013 |
IDENTIFICATION DETAILS
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Name : |
M.D.C - PLASTIC INDUSTRIES LTD. |
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Registered Office : |
P.O. Box 380 (8701302) 14 Lisbon Street Industrial Zone Sderot 8714632 |
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Country : |
Israel |
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Date of Incorporation : |
20.10.1987 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers, exporters and marketers of Plastic irrigation systems and pipes for greenhouses and agricyultural areas, Plastic components for the medical industries. |
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No. of Employees : |
Over 20 (Approximately) |
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 (31.03.2011) |
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
Source
: CIA
MDC
INDUSTRIES LTD.
Correct
Name: M.D.C - PLASTIC INDUSTRIES
LTD.
Telephone
972 8 622 14 00
Fax
972 8 689 18 45
P.O. Box 380
(8701302)
14
Lisbon Street
Industrial Zone
SDEROT-8714632-ISRAEL
A private
limited company, incorporated as per file No. 51-123502-0 on the 20.10.1987.
Authorized
share capital NIS 10,000.00, divided into -
10,000 ordinary shares of NIS
1.00 each,
of which
7,552 shares amounting to NIS 7,552.00 were issued.
1. Menachem Galant,
2. Mrs. Zehava Galant, holding one single share.
1. Menachem Galant, General Manager,
2. Mrs. Zehava Galant.
Manufacturers,
exporters and marketers of:
1) Plastic
irrigation systems and pipes for greenhouses and agricyultural areas,
2) Plastic
components for the medical industries.
3) Plastic
components for PVC compound production
Subject is
also an OEM manufacturer.
Sales are to
local customers and for export (export rate was 60% in 2005).
Amongst
clients: TEVA PHARMACEUTICAL, NAAN DAN JAIN, ORIDION, JOHN DEERE WATER, ARAN
PACKAGING, ELGO, TAVLIT, NETAFIM, etc.
Some 50%
of purchases are imports.
Amongst suppliers:
KAFRIT INDUSTRIES, Y. D. POLYMERS, WILHELM ROSENSTEIN, ASHTROM GROUP, ASHLAD,
SORPOL, EL-MOR, etc.
(Note: Since officials did not cooperate with us, we were unable to confirm some
of the above mentioned details referring to names of suppliers.)
Operating
from rented premises, on an area of 2,000 sq. metres, in the Industrial Zone,
Sderot
(Note:
premises size was given to us in 2005, may have been changed).
Number of
employees not forthcoming, known to be over 20.
Financial
data not forthcoming.
Subject is an “Approved Enterprise” and as such entitled for State
support, grants and tax relief.
In July 2007 the Israeli Investment Centre (IIC) approved a NIS 2.8
million investment plan for the expansion of subject’s plant.
There are
24 charges for unlimited amounts, as well as 4 charges for the total amount of
NIS 1,800,000.00 registered on the company's assets, in favor of the State of
Israel, Bank Hapoalim Ltd., Bank of Jerusalem
Ltd., Israel Discount Bank Ltd., Mizrahi Tefahot Bank Ltd., The First International Bank
of Israel Ltd., Bank Otsar Hahayal Ltd., and companies (last 2 charges placed
June-October 2012).
2004 sales
claimed to be US$ 2,000,000, 60% were for export.
Later
sales figures not forthcoming.
M.D.C
MIVNEY TA'ASSIYA (SDEROT) LTD.
The First
International Bank of Israel Ltd., Ashdod Business Branch (No. 076), Account No. 069760.
Bank Hapoalim Ltd.,
Sderot Branch (No. 649), Sderot, account No. 444884.
Israel Discount Bank Ltd., Lev Ha’ir Beer Sheva Branch (No. 517) Beer Sheva,
account No. 27778.
A check
with the Central Banks’ database did not reveal any negative informaiton
regarding subject’s a/m accounts.
(Note: Bank accounts may have changed, we could not confirm that since officials did not cooperate with
us)
Nothing
unfavorable learned
So far subject's officials
refused to disclose any data. They asked us to send them an email with our request
– which we did – and they will consider our request.
In case they return to us with further data, we will
update you accordingly.
Subject
is ISO 9001:2008 and FDA certified.
The Society of Israel Plastic & Rubber Industry published data on
the sector for 2011: The sector’s turnover (both local and for export) reached
US$ 5,075 million, representing 15% increase from 2009 (after 4% decrease from
2008, affected by the global crisis).
Sales for export by the Plastic and Rubber
Industry also grew by 15% in 2011 up to US$ 2,798 million, after in 2010
exports returned to 2008 levels with a 18.5% rise from 2009, a year which the
sectors suffered badly from the global crisis.
Sales breakdown: 30% of the Plastic &
Rubber sector's sales are Household Products, 23% - Agriculture, 16% -
Packaging, 9% - Building sector, 9% Industry, 5% Furniture, 4% - Compounds
(rest is to other fields).
According to the Central Bureau of Statistics, import of Plastic and Rubber
raw material for the local industry in 2011 summed up to NIS 2,411.6 million,
30.4% increase from 2010, keeping the 2010 trend when it rose up 17.8% from
2009, then it decreased by 31% from 2008 (which reflected
the the global recession).
Investment in imported machinery and
equipment to the Plastic & Rubber industry climbed 25.6% from 2010 totaling
NIS 632.3 million in 2011. This is after in 2010 it rose by 8.1%, while level
of import in 2010 was just fractionally higher than 2009, far from record 2007
& 2008 years.
Notwithstanding the lack of updated data
from subject's officials, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.84 |
|
|
1 |
Rs.88.16 |
|
Euro |
1 |
Rs.71.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
|
-- |
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.