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Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
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Name : |
SEGEV FOOD EXPORT IMPORT COMPANY LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
14.07.1987. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, exporters,
wholesaler of food products, mainly preserves, pickles, jellies and jams, as
well as raw materials to beverage industry (concentrates). |
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No. of Employees : |
4 |
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 : |
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 – March 31st,
2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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. 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.
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Source : CIA |
SEGEV FOOD EXPORT IMPORT COMPANY LTD.
Telephone 972 3 604 15 91; 605 07 73
Fax 972 3 605 07 59
Email: rami@segevfood.com
54 Yehoshua Ben Nun Street
TEL AVIV 4203502
ISRAEL
A private limited company, incorporated as per file No. 51-121089-0 on
the 14.07.1987.
Authorized share capital NIS 2,640.00, divided into –
2,635
ordinary shares (100 shares issued),
5
management shares (1 share issued), all of NIS 1.00 each,
of which shares amounting to NIS 101.00 were issued.
1. Ran
Bishmi, 50% of ordinary shares,
2. Ram
Satati, 50% of ordinary shares and 1 single management share.
Ram (Rami) Satati,
born 1962.
Importers,
exporters, wholesaler of food products, mainly preserves, pickles, jellies and
jams, as well as raw materials to beverage industry (concentrates).
Sales are from
stocks, based on orders.
20% of sales are
for export.
Among local clients:
GAN SHMUEL FOODS, GANIR, PRIGAT, ZANLAKOL, TIV TA'AM, etc.
Among local
suppliers: PRI HAGALIL, GAN SHMUEL FOODS, BEIT HASHITA, GANIR, NETO, MILOZ,
ZANLAKOL, etc.
Operating from
office premises, owned by Rami Satati, on an area of 65 sq. meters, in 54
Yehoshua Ben-Nun Street, Tel Aviv.
Having 4 employees
in subject and in sister company ADVANCED FOOD INGREDIENTS.
Holding no stocks,
work is based on orders.
Financial data not
forthcoming.
There are no charges
registered on the company’s assets.
2004 sales were NIS 39,947,000, of which 20% were for export.
2005 sales were NIS 46,749,000, of which 20% were for export.
2006 sales claimed to be NIS 76,000,000, over 20% of which were for export.
2007 sales claimed to be NIS 37,000,000, over 20% of which were for export.
2008 sales claimed to be NIS 40,000,000, 20% of which were for export.
Note: We were
informed that 2006 was a record year due to a large project subject was
involved in.
Later sales data
not forthcoming.
ADVANCED FOOD
INGREDIENTS LTD., equally owned by Ram Satati, Ran Bishmi and Dani Shakuri,
importers and international traders in advanced raw materials for the food
industry (citrus salts, starches, etc.).
Bank Leumi Le'Israel Ltd., Gordon Branch (No. 804), Tel Aviv, account
No. 224500/12.
The First International Bank of Israel Ltd., Tel Aviv Main Branch (No.
064),
Tel Aviv, account No. 614408.
A check with the
Central Banks’ database did not reveal any negative information on subject’s
a/m bank accounts.
Nothing
unfavorable learned.
Subject's General
Manager is currently abroad. He asked us to send him our request and he will
address it. Upon receiving further information we shall update you accordingly.
After several years of
constant growth, the consumer products market, which includes food, beverages
and household and personal care goods, ended 2012 with fixation and even
decrease in sales, according to Nilsen Market Research. The decrease intensified
over the last quarter of 2012, but was compensated by prices rise. In money
terms, the market grew by mere 0.7%, lest than the population growth rate (2%
per annum), reflecting the slow-down trend in the local economy which started
in 2011 2nd half. Sales in the bar-coded consumer market reached NIS
40.4 billion. Sales of food in 2012 grew by 1.1%, reaching NIS 29.8 billion,
while in the beverage market sales fell by 2% to NIS 5.1 billion. Volume of personal care goods rose by 3% to NIS 3
billion, while sale of household increased by
1.5% to NIS 2.7 billion.
Sales for exports by the food & beverages industries remained stagnant
in 2012, with sales reaching US$ 952.3 million (after in 2011 export rose by
16.6%).
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.
The
Central Bureau of Statistics data shows that import of raw food
products to Israel in 2012 summed up to NIS 9,135.6 million, 2.7% decrease from
2011 (marked a 9.8% decrease in $ terms). This represents a reverse trend from
the previous couple of years, when it rose in both years in around 20%.
Over 50% of import is from the EU.
From the CBS National Accounts for 2012, it
turns that expenditure by local households on private consumption grew by 2.7%
from 2011, after rising by 3.8% in 2011. Expenditure on food, beverage & tobacco increased by 3.4% (after 4% rise in
2011).
Per capita expenditure for private consumption on non-durable goods
rose in 2012 by 1.4% per-capita (1.3% rise in 2011). This rise reflects
increases by 1.3% in expenditure on food,
beverage & tobacco and 4.5% expenditure
on clothing, footwear and personal effects.
Notwithstanding
the lack of updated data from subject's officials so far, considered good for
trade engagements.
Note: Since February 2013 Israel Post has
started using a new area code method of 7 digits (the old method of 5 digits is
no longer valid).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian
Rupees |
|
US Dollar |
1 |
Rs.60.58 |
|
UK Pound |
1 |
Rs.92.91 |
|
Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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 |
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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.