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Report Date : |
05.07.2013 |
IDENTIFICATION DETAILS
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Name : |
RACHAMIM REUVEN TEXTILE LTD. |
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Formerly Known as: |
RACHAMIM TEXTILE. |
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Registered Office : |
15 Raanan
Street, Tel Aviv 6509616 |
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Country : |
Israel |
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Year of Establishments: |
1980 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and distributors of home textile products (towels, blankets,
bed ware, table ware) |
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No. of Employees : |
05 employees |
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 : |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Israel |
A2 |
A2 |
|
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. Its major imports
include crude oil, grains, raw materials, and military equipment. Cut diamonds,
high-technology equipment, and pharmaceuticals are among 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. Israel's economy also has weathered the Arab Spring
because strong trade ties outside the Middle East have insulated the economy
from spillover effects. 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, and production from the Tama field is expected to meet all of
Israel's natural gas demand beginning mid-2013. 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 |
RACHAMIM REUVEN
TEXTILE LTD.
Telephone 972 3 682 47 05
Fax 972
3 681 25 38
15 Raanan Street
TEL AVIV 6509616 ISRAEL
Originally established as a non-registered business in 1980, under the
name RACHAMIM TEXTILE.
Converted into a private limited company and registered as such as per
file No. 51-233884-9 on the 18.06.1996.
Authorized share capital NIS 11,600.00, divided into:-
11,600
ordinary shares, all of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00 were issued.
1. Reuven
Rachamim, 90%,
2. Mrs.
Ruth Rachamim, 10%.
Reuven Rachamim.
Importers and distributors home textile products (towels, blankets, bed
ware, table ware).
Sole local
representatives of:
RASILAN, of Spain
Operating from premises (an office and 2 shops), owned by shareholders,
on a total area of 100 sq. meters, in 15 Raanan Street, Tel Aviv.
Having 5 employees.
Current stock is valued at NIS 1,000,000.
Property owned by shareholders in 15 Raanan Street, Tel Aviv is valued
at
NIS 3,000,000.
There are no charges registered on the company’s assets.
2011 sales claimed to be NIS 4,500,000.
2012 sales claimed to be NIS 4,000,000.
We are informed that 2013 sales' pace is similar to those of 2012.
Bank Leumi Le'Israel Ltd., Florentine Branch (No. 805), Tel Aviv.
According to our, subject is suing the Arab Israel Bank
Ltd.
and 2 individuals at the Tel Aviv Magistrate Court for the sum of NIS 76,874
(case No. 48620-07-10). No further data is found on the matter which is still
pending.
Nothing unfavorable learned.
Subject is a veteran business.
From the Central
Bureau of Statistics (CBS) National Accounts for 2012, it turns that in
2012 expenditure by local households on private consumption grew by 2.7% from
2011, after rising by 3.8% in 2011. Expenditure on durable goods decreased by
4% (after 10.5% rise in 2011 and 12% rise in 2010), although a breakdown shows
that expenditure on furniture rose by 3%.
CBS preliminary National Accounts for 2012
reveals that per-capita expenditure on durable goods decreased by 4.2% (after
8.5% rise in 2011 and 10.1% rise in 2010). A breakdown of the expenditure
reveals a 3% fall in purchases of household equipment (domestic electrical
appliances), 9.1% decrease in purchase of vehicles for private use, and an
increase by 1.9% in purchase of furniture.
According
to CBS,
import of consumer goods in 2012 marked a 1.9% increase continuing the rise of
9.8% in 2011. Most of the rise was in durable goods (by 9.6%), which comprising
some 40% of the import volume, while import in durable goods decrease by 7.3%
from 2011.
Import of
Household Utensils in 2012 rose merely by 2% from 2011, summing up to NIS 2,484
million (although in $ terms import fell by 6%). In 2011 import rose by around
3% from 2010.
The local household
products market is considered highly competitive after reaching market
saturation. It includes household textile, tableware and kitchenware and
utensils, bath accessories and ornaments &decorative items, ceramic and
glass ware. According to estimations, the local household products market
volume reaches NIS 2.5 – 3 billons annually (of which circa NIS 1 billion for
“home textile”), and includes retail, wholesale, institutional markets (Retail
chains capture 30% of the market share, specialization stores 20%, while the
institutional and workers unions sector has 50% share).
Good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.09 |
|
UK Pound |
1 |
Rs.91.58 |
|
Euro |
1 |
Rs.78.08 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
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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 |
|
<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.