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Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
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Name : |
C. NOAM FOOD MARKETING AGENCIES LTD. |
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Registered Office : |
D.N. Evtach Bnei Darom 79250 |
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Country : |
Israel |
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Date of Incorporation : |
29.11.1988 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of foodstuff (various kinds, including canned food and pickles, sardines, vinegar, rice, sauces,). |
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No. of Employees : |
5 |
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 : |
-- |
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
C.
NOAM FOOD MARKETING AGENCIES LTD.
(also known in brand name "STAR
FOOD")
Telephone 972
8 856 44 47
Fax 972
8 856 80 51
E-mail: noam@starfood.co.il
D.N. Evtach
BNEI DAROM
79250 ISRAEL
A private limited company, incorporated as
per file No. 51-133838-6 on the 29.11.1988.
Authorized share capital NIS 100,000.00
divided into -
10,000
ordinary shares of NIS 10.00 each,
of which 200 shares amounting to NIS
2,000.00 were issued.
Subject is fully owned by Noam Cohen.
Noam Cohen.
Importers and marketers of foodstuff (various
kinds, including canned food and pickles, sardines, vinegar, rice, sauces,).
Subject sells part of the products under
brand name "Star Food".
Among clients are supermarket chains, e.g.
HATZI HINAM, SUPER DOSH, etc.
Sole local representatives of (among
others):
PICRIC, of India
OISHII, SOY VAY, both of the USA
LA JIRA, of Spain
NOVA, of Italy
Operating from rented premises (offices,
warehouse), on an area of 1,000 sq. meters, in Bnei Darom Village (“Moshav Bnei
Darom”, where “moshav” is a local typical agricultural village). Also operating
from another office at the private residence of the shareholder/ General
Manager, Mr. Noam Cohen, in 32 Givat Hatachmoshet Street, Holon (the address
you provided), which is also the company's registered address.
Having 5 employees (same as in 2010 and
2011).
Current stock is valued at NIS 2,000,000.
Other financial data not forthcoming.
There are 2 charges for unlimited amounts registered on the company's assets
(financial assets - bank deposits), in favor of Bank Hapoalim Ltd. Charges
placed in 2005 and in May 2012.
2011 sales claimed to be NIS 20,000,000.
Sales for the first 9 months of 2012 claimed
to be NIS 15,000,000.
STAR FOOD PREMIUM LTD., non-active.
Bank Hapoalim Ltd., Azor Branch (No. 643),
Azor, account No. 293159.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
Nothing unfavorable learned.
Subject is a veteran business.
The local market for food & beverages grew by 11.4% from 2008 to
2011, summing up to NIS 35.15 billion, around 4.5% increase (in money terms) in
2011 from 2010.
According
to Central Bureau of Statistics (CBS), import of food and
beverages to Israel in 2012 summed up to NIS 6,898 million, rising by 13.8%
from 2011 (a 5.5% rise in $ terms), continuing the upward growth trend from
2011 and 2010.
According
to the CBS, the total household expenditure for private consumption in 2011 on
food, beverage and tobacco rose 3.7% from 2010, after 4% rise in 2010 from
2009, reflecting an improvement trend in the loacl market after the general
slow-down in economy in 2009.
Good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.82 |
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|
1 |
Rs.87.99 |
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Euro |
1 |
Rs.72.83 |
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 |
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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.