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Report Date : |
28.01.2013 |
IDENTIFICATION DETAILS
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Name : |
TIBULIM RAM LTD. |
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Registered Office : |
Mobile Post Kfar Hamaccabi Ramat Yohanan 3003500 |
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Country : |
Israel |
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Date of Incorporation : |
26.01.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Growers, processors,
manufacturers, importers, exporters and marketers spices, seasoning mix, herbal
infusions, natural and health products, as well as food additives for
industry. |
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No. of Employees : |
30 |
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) |
|
Israel |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
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
TIBULIM RAM LTD.
Telephone 972 4 845 91 35
Fax 972
4 845 91 44
Mobile Post Kfar Hamaccabi
RAMAT YOHANAN 3003500
ISRAEL
A private limited company, incorporated as
per file No. 51-364471-6 on the 26.01.2005.
Subject was established in view of continuing
the business activities of TIBULIM LTD., originally founded some 50 years
earlier (incorporated 1990) in Moshav Beit Lehem HaGlilit,
after the joining of Kibbutz Ramat Yohanan.
Authorized share capital NIS 10,000.00, divided into -
10,000
ordinary shares of NIS 1.00 each,
fully issued.
1.
Kibbutz Ramat Yohanan (through RAMAT YOHANAN
INDUSTRY & AGRICULTURE DEVELOPMENT - ACS LTD.), 51%, a cooperative society,
operating a communal agricultural settlement,
2.
Ilan Zitershpiler, 49%.
1. Ilan Zitershpiler,
2. Ehud Peled,
3. Ido Rodoy,
4. Yohanan Karu,
5. Haim Lilos.
Oz Elnir
Growers, processors, manufacturers, importers, exporters and marketers spices,
seasoning mix, herbal infusions, natural and health products, as well as food
additives for industry.
Some sales are for export (were 15% in 2009, mainly to Germany, current
export rate not forthcoming).
Products are sold as raw materials for the food industries and as finished
products to wholesalers and institutional markets in Israel and abroad.
Among local clients are leading food industries, e.g. TNUVA, OSEM, STRAUSS
GROUP.
Sole local representatives and distributors of SYMRISE, of Germany.
Among service suppliers: FOODBIZ, MAXSOFT.
Operating from premises (offices, land and plant), on an area of 3,000 sq.
meters, in Kibbutz Ramat Yohanan (land is owned by the Kibbutz), as well as
growing land in Yezreel Valley.
Having 30 employees (similar to 2011 and
2010, had some 20 employees in 2008/9).
Financial data not forthcoming.
There are 6
charges for unlimited amounts, as well as 2 charges for total sum of NIS
206,000.00 registered on the company's assets (financial assets and a vehicle),
in favor of Israel Discount Bank Ltd., Bank Leumi Le’Israel Ltd. and a leasing
company (last 3 charges placed in between 2008 to November 2012 are on vehicles
and machinery, prior charge was in 2006).
Latest sales figures not forthcoming. According to our sources, 2008 sales
were circa NIS 8,000,000.
PILPEL - FOOD
INDUSTRIES DEVELOPMENT LTD., 100%, a subsidiary, dealing in raw materials for
the food industries.
Kibbutz Ramat
Yohanan also controls:
PALRAM INDUSTRIES
(1990) LTD., 73.3%, a publicly traded company (Tel Aviv Stock Exchange),
manufacturers, exporters and marketers of thermo-plastic rigid sheets and
technical components of PC, PVC and other polymers for construction, industry,
advertising, DIY and agriculture sectors. Total B/S (30.09.2012) NIS 1,097
million, 2011sales were NIS 1,107 million. Current market value US$ 80 million.
Main
subsidiaries:
PALTOUGH
INDUSTRIES (1998) LTD., 75% (and 25% are held by BAYER concern of Germany),
manufacturers and marketers of polycarbonate & acrylic plastic boards,
holding 100% of:
PALTOUGH
INDUSTRIES (1998) LTD., 75% (and 25% are held by BAYER concern of Germany),
manufacturers and marketers of polycarbonate & acrylic plastic boards, holding
100% of: PALRAM GERMANY GMBH, Germany,
PALRAM SHANGHAI
LTD., SHANGHAI HUILI TUVGAL LTD. (25%), China, PALRAM
POLYCARB LTD. (UK) and PALRAM 2000 INC. (USA).
PALRAM APPLICATIONS (1995) LTD., manufactures, exporters, marketers of finished and complementary
products based on P.V.C and thermo-plastic goods.
PALRAM P.V.C. LTD., manufactures, exporters and marketers of P.V.C.
thermo-plastic rigid sheets., holds 100% of PALMAR (PALRAM MARKETING) LTD., U.K., marketing company, PALRAM DPL LTD., U.K., operating a plant in the U.K in
the PVC line, PALRAM PANELS INC., USA, operating a plant in the U.K in the PVC
line.
And many other
local and foreign subsidiaries.
GADASH RE'EM, an
agricultural partnership of Kibbutz Ramat Yahanan with
Kibbutz Usha and Kibbutz Kfar Hamaccabi, cultivating 9,700 sq. meters of
field crops and arable crops.
TRACTORAM, 100%, importers and marketers of agricultural machinery.
Bank Leumi Le'Israel Ltd., Haifa Main Branch
(No. 876), Haifa.
Nothing unfavorable learned.
Mr. Oz Elnir,
General Manager, refused to disclose financial data, as well as other business
data on the company.
Subject is ISO 9001:2000 certified.
Kibbutz Ramat Yohanan was founded in 1931. It has some 350 members, out of
population of 800. The kibbutz also cultivates a large area of agricultural
land, including fruit orchards and plantations, field crops, operates dairy
farming, poultry etc.
PALRAM Group is well-known and veteran manufacturer of thermoplastic
sheets, considered among the world’s 5 leading manufacturers of polycarbonate
plastic boards.
In August 2009 subject started a joint venture of store in store with MEGA
RETAIL.
The spices growing branch is considered the
highest growing agricultural export branch in Israel in recent years. Exports
of grown spices reached €73 million in 2006. The volume of demand in the local
market for grown spices was expected to reach NIS 40 million in 2006.
There is some 30,000 spices plants grown in Israel
on total area of 50,000 sq. meters, according to the Plants Council.
Notwithstanding the refusal to disclose financial
data, considered good for trade engagements.
Note: Since the beginning of 2012 Israel Post started
using a new area code method of 7 digits (the old method of 5 digits will still
be valid till end of January 2013).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.85 |
|
|
1 |
Rs.85.25 |
|
Euro |
1 |
Rs.71.72 |
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 |
|
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.