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Report Date : |
29.01.2013 |
IDENTIFICATION DETAILS
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Name : |
A.R.I. FLOW CONTROL
ACCESSORIES LTD. |
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Formerly Known As : |
A.R.I. FLOW CONTROL ACCESSORIES AGRICULTURAL COOPERATIVE SOCIETY LTD. |
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Registered Office : |
Mobile Post Ramat Hagolan Kfar Charuv 1293200 |
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Country : |
Israel |
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Date of Incorporation : |
19.06.1973 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Developers, manufacturers,
exporters and marketers of plastic and metals made flow control accessories,
for water system protection from transient pressures and entrapped air in
pipelines. |
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No. of Employees : |
175 |
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
A.R.I. FLOW CONTROL ACCESSORIES
LTD.
Telephone972 4 676 18 00
Fax 972 4 676 34 02
Mobile Post Ramat Hagolan
KFAR CHARUV 1293200 ISRAEL
Originally established as a
limited partnership, registered as per file
No. 55-000221-6 on the 19.06.1973.
Convereted
into an agricultural cooperative socielty in early 2000s and operated as such
for couple of years, under the name A.R.I. FLOW CONTROL ACCESSORIES
AGRICULTURAL COOPERATIVE SOCIETY LTD.
(File No. 57-003805-9).
Re-converted into
a private limited company and registered as such as per file No. 51-376835-8 on
the 28.12.2005.
Authorized share capital
NIS 100,000.00, divided into -
100,000 ordinary shares of
NIS 1.00 each,
of which 100 shares amounting to NIS 100.00 were issued.
Subject
is fully owned by KFAR CHARUV HOLDINGS ACS LTD., fully owned by Kibbutz Kfar
Charuv,
a cooperative society, operating an agricultural communal settlement.
1. Yigal Shacham, Chairman,
2. Ariel Sagi,
General Manager,
3. Yossi Weiss,
4. Yoram Erlich,
5. Steven Rosen,
6. Sergio Fishlin,
7. Ms. Vera Keinan.
Developers,
manufacturers, exporters and marketers of plastic and metals made flow control
accessories, for water system protection from transient pressures and entrapped
air in pipelines.
Subject’s
products are designed for various applications in water supply (municipal and
domestic), sewage, industry, agriculture and landscaping.
Over
85% of sales are for export.
Among
local customers: MEKOROT WATER CO., ISRAEL MENDELSON TECHNICAL &
ENGINEERING SUPPLIES KMN, NETAFIM, BERMAD, etc.
60%
of raw material purchasing is from import.
Operating
from premises (offices and plant), on an area of 20,000 sq. metres, in Kibbutz
Kfar Charuv (premises are owned by the Kibbutz), situated in the south of Ramat
Hagolan, near the Sea of Galillee. Also operating from a marketing office in 17
Hashikma Street, Azor.
Having
175 employees (same as in 2012, had 165 employees in end of 2011, 140 employees
in the end of 2009, 130 in 2009 1st half).
Total B/S (total assets) as of
30.09.2009 was NIS 113,000,000 (was
NIS
Equity
as of 30.09.2009 was NIS 77,000,000 (was NIS
Later
B/S data was not given, however we were tod that current equity comprises over
60% of total B/S.
Current
inventory is valued at NIS 33,000,000 (was valued at NIS 30,000,000 in mid
2011, similar to the end of 2009).
There are 7 charges for unlimited amounts registered on the company’s
assets (financial and fixed assets), in favor of Bank Leumi Le’Israel Ltd. and
a leasing company MISHKEI LEASING (last charge placed in December 2008).
2006
slaes claimed to be NIS 100,000,000, of which 90% were for export.
2007
slaes claimed to be NIS 111,000,000, of which 90% were for export.
2008
slaes claimed to be NIS 130,000,000, of which 90% were for export.
We
were informed that subject ended 2008 with “a nice profit”.
2009
slaes claimed to be NIS 109,000,000, of which 85% were for export.
2010
slaes claimed to be NIS 120,000,000, of which 87% were for export.
2011
slaes claimed to be NIS 116,000,000, of which 87% were for export.
First
9 months of 2012 sales claimed to be NIS 95,000,000, of which 87% for export.
A.R.I.
USA INC., 100%, USA, marketing arm.
AIRVALVE
FLOW CONTROL GMBH (A.R.I. GERMANY), 33%, Germany, marketing company.
Bank Leumi Le’Israel Ltd.,
Haamakim Business Barnch (No. 745), Afula, account
No. 62400/82.
A check with the Central Banks' database did not reveal anything
detrimental on subject’s a/m account.
Nothing
unfavorable learned.
Subject
is ISO 9001:2000 and ISO 14001:2004 certified, as well as meeting other
international standards.
Kibbutz
Kfar Charuv was established in 1973. There are some 110 members and a total
population of 350.
The
Kibbutz is engaged in farming activities, including cultivating agricultural
land (fruit plantations, avocado, almonds, etc) and breed livestock.
They
Kibbutz also operates in torism tourist resorts (partners in “Hamat Gader” and
owners of “Mitspe Lashalom” village).
Export by the
local water-related industries is valued at US$ 900 million per annum and
increasing, with new companies and startups in this field join the trend of the
growing demand for drinking water. Israel has tiny part in the global market,
which is valued at US$ 450 billion (in 2011, furcated to grow by 10% by 2014).
However, Israel is considered as pioneer in the field and in its reputation for
water management capabilities.
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.53.89 |
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|
1 |
Rs.84.92 |
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Euro |
1 |
Rs.72.51 |
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 |
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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.