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Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
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Name : |
POLIVA LTD. |
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Registered Office : |
P.O. Box 672, Ramla (7210601),
1 Har Atzmon Street, Industrial Zone B, Ramla 7225201 |
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Country : |
Israel |
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Date of Incorporation : |
22.12.1988 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, importers and marketers of raw materials and substances for
bakeries |
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No. of Employees : |
175 employees (had some
150 employees in 2011, 140 in early 2010 and 150 employees in early 2009) |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
POLIVA LTD.
Telephone 972
8 921 30 22
Fax 972 8 922 52 11
P.O. Box 672, Ramla (7210601)
1 Har Atzmon Street
Industrial Zone B
RAMLA 7225201 ISRAEL
Originally established as a
sole proprietorship in 1983, under the style "POLIVA".
Converted into a private
limited company and registered as such as per file No. 51-134706-4 on the
22.12.1988.
On the 15.01.2003, P.A.P. FOOD INDUSTRIES LTD. and P.A.I.J. INVESTMENTS
LTD. were merged into subject.
Later, subject also assumed the activities of affiliated company AHARONI
M.A. BROTHERS FOOD AGENCIES LTD.
Authorized share capital NIS 50,000.00, divided into -
50,000
ordinary shares of NIS 1.00 each,
of which 34,974 shares amounting to NIS 34,974.00 were issued.
1. ILAN POLIVA LTD., 35%, owned by
Ilan Poliva,
2. AHARON POLIVA LTD., 35%, owned
by Aharon Poliva,
3. J.D.P. HOLDINGS LTD., circa
12.3%, owned by Jimmy Parselani,
4. S.
HAMAMA HOLDINGS INDUSTRY & HI-TECH LTD., 12%, part of HAMAMA MEIR Group,
controlled by Meir Hamama and Eli Hamama,
5. Yuval Bejerano, 5.7%.
1. Ilan Poliva, born 1954,
2. Aharon Poliva, born 1961,
brother of Ilan.
Traders, importers and marketers of raw materials and substances for
bakeries.
Also manufacturers and marketers of jams.
Subject also has minor sales for export.
Amongst clients are leading local food manufacturers: ZOGLOWEK, OSEM,
STRAUSS GROUP/ ELITE, HANAMAL, MILOUMOR, TETH BETH, ANGEL'S BAKERY, MANAMIM
FOOD INDUSTRIES, FILL TUNA INDUSTRIES, etc.
Amongst suppliers: STERN SHAVIT, MIGDANOT HABAIT, OSEM, STYBEL, etc.
Operating from owned premises (offices, warehouses and plant), on an area
of 32,000 sq. meters (on which 16,000 sq. meters are built), in 1 Har Atzmon
Street, Industrial Zone B, Ramla.
Having 175 employees (had some 150 employees in 2011, 140 in early 2010 and
150 employees in early 2009).
Current stock is valued at NIS 45,000,000 (was valued at NIS 45,000,000 in
end of 2010, similar to the end of 2009).
Owned property in 1 Har Atzmon Street, Industrial Zone B, Ramla (where
subject is operating from) is valued at US$ 13,000,000.
There are 29 charges for unlimited amounts registered on the company's
assets (financial, fixed and other assets), in favor of Bank Hapoalim Ltd.,
Bank Leumi Le’Israel Ltd., Bank Otsar Hahayal Ltd., Union Bank of Israel Ltd.
and leasing companies (latest charges were placed in 2011).
2005 sales claimed to be over NIS 120,000,000.
2006 sales claimed to be NIS 160,000,000 (2% were for export).
2007 sales claimed to be NIS 170,000,000 (2% were for export).
2008 sales claimed to be NIS 265,000,000 (2% were for export).
2009 sales claimed to be NIS 245,000,000 (2% were for export).
2010 sales claimed to be NIS 270,000,000 (1% for export).
2011 sales claimed to be NIS 370,000,000 (small portion was for export).
2012 sales claimed to be NIS 400,000,000 (small portion was for export).
The significant rise in sales since 2011 is attributed to the closure of a
rival local manufacturing plant TETH BETH.
AHRON POLIVA LTD., holding company.
ILAN POLIVA LTD., holding company.
Meir Hamama and Eli Hamama, owners of S. HAMAMA HOLDINGS INDUSTRY &
HI-TECH LTD., also control HAMAMA MEIR TRADE (1996) LTD., publicly traded on
the Tel Aviv Stock Exchange, traders, importers, exporters, marketers and
distributors in dried foodstuff. Current market value US$ 17.1 million.
Hamama Bros. control other companies as well in the food and real estate
fields.
Bank Leumi Le’Israel Ltd., Ayalon Business
Branch (No. 693), Lod, account No.
352000/64.
A check with the Central Banks' database did not
reveal anything detrimental on subject’s a/m account.
Bank Hapoalim Ltd., Central Business Center
Branch (No. 453), Ramat Gan.
Nothing unfavorable learned.
Subject is long established and enjoys good reputation.
Subject is one of the leading suppliers of margarine for the industry.
Subject is ISO 9001:2000 certified.
HAMAMA Group which is an investor in subject is a veteran well-known
foodstuff trading company.
In mid 2006, it was reported that UNITRONICS will install automated storing
system in subject's plant, in a project valued NIS 7 million.
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.
Good for trade engagements.
Note: Since the beginning of 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
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 |
|
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 |
|
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.