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Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
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Name : |
SEAFOOD GOURMET LTD |
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Formerly Known As : |
KING FISH LTD |
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Registered Office : |
6 Tzamarot Street Herzliya 4642406 |
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Country : |
Israel |
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Date of Incorporation : |
18.10.2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
-- |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 |
|
Risk Category |
ECGC
Classification |
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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.
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Source : CIA |
SEAFOOD GOURMET LTD
Telephone 972
50 244 44 44
Fax 972
9 956 64 44
6 Tzamarot Street
HERZLIYA 4642406 ISRAEL
A private limited company, incorporated as per
file No. 51-359772-4 on the 18.10.2004.
Originally registered under the name KING FISH
LTD., which changed to the present name on the 14.09.2009.
Authorized share capital NIS 40,000.00, divided
into -
40,000
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00 were
issued.
Subject is fully owned by David Litvak.
David (Dudi) Litvak.
At this stage, full line of activity is not
clear, including if subject imports/ markets goods.
From our short conversation with subject's owner
and manager, Mr. Dudi Litvak, he informed us that subject is operating of a restaurant
in Tel Aviv (it could be the fish restaurant called “Mul Yam”, but we are not
sure – see more below). Mr. Litvak did not wish to add details for the time
being (see below).
At this stage, the known address –mailing
address- of subject is at 6 Tzamarot Street, Herzliya. This is a residential
building address in a prestigious area in Herzliya. It is also subject's
registered address in the Registrar of Companies and Tax Authorities.
The telephone number you provided
(972-3-5469930) belongs to Mul Yam Restaurant, operating from the Old Port of
Tel Aviv.
Number of employees not forthcoming.
Financial data not forthcoming.
There is 1 charge for an unlimited amount
registered on the company's assets (financial assets), in favor of Bank Hapoalim Ltd. (charge placed October 2010).
Revenues figures not forthcoming.
Mr. David Litvak has been known to be involved
in other companies in the past and may be presently, usually as a partner.
Bank Hapoalim Ltd., branch data unavailable.
Subject may be working with other banks, but at
this stage we do not have further details.
Nothing unfavorable learned.
At this stage, there are several focal points
which are not clear to us. As noted above, we still do not know subject's exact
line of activity, if it is only operating a restaurant, and which one.
Indications are that it concerns 'Mul Yam Restaurant', a most prestigious
fish/seafood restaurant, one of Israel's finest. From our, this restaurant has
been known to be owned by Shalom Maharovsky and part of a group of companies of
Mr. Maharovsky, engaged in import and marketing of fish, seafood and wines.
Hence, there is a certain contradiction. When we
call the number you gave, we reach 'Mul Yam'. A secretary we spoke with several
times already, said we need to speak with Shalom Maharovsky on subject and the
restaurant, which are part of Maharovsky Group (mainly MAADANY YAM (SEAFOOD)
ATLANTIC LTD., a private limited company, owned by Maharovsky).
In the Telephone Directory, we found a telephone
(972-3-5469970) under subject's name. We called and a guy answered, approving
we reached subject (and Mul Yam Restaurant), but we need to speak with Mr.
Maharovsky.
So far we could not reach Mr. Maharovsky, and
were informed he is sick, so –if still relevant- we should try to reach him
early next week.
The address you gave, in 6 Bertonov Street, Tel
Aviv, is the private residence address of Shalom Maharovsky.
As noted, Mr. Dudi Litvak refused to add data at
this point, and asked us for a fax with our questions. We sent the fax and
await his reply. In case we receive answers and clarifications from him, we
shall update you accordingly. If not, we will also try to reach Mr. Maharovsky
next week.
David (Dudi) Litvak is a known figure in the local business community.
In his past he acted in senior public positions, including the Director General
of the Israeli Ministry of Tourism, General Manager of The Israel Export
Institute (owned by the Israeli government and Israel Industrialists'
Association), and Commercial Attache for North America. He also headed business
corporation was the chairman of KFAR HASHA'ASHUIM, a large franchise chain of
toys, managed a real estate corporation, and more.
From the figures and –if indeed running the 'Mul Yam Restaurant',
subject appears to be good for trade engagements. Yet, due to the
confusion discussed above and lacking certain basic information, at this stage
we are unable to recommend on credit.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.63 |
|
UK Pound |
1 |
Rs.87.50 |
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Euro |
1 |
Rs.71.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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 |
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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 |
|
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 |
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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.