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Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
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Name : |
APOLLO TOOLS LTD. |
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Registered Office : |
2 Hayasmin
Street, Industrial Park Ariel
West, ARIEL |
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Country : |
Israel |
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Date of Incorporation : |
24.01.1995 |
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Com. Reg. No.: |
51-209785-8 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of working & building tools and
accessories. |
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No. of Employees : |
14 |
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 |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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
APOLLO TOOLS LTD.
Telephone 972 3 933 83 29
Fax 972
3 908 80 31
Physical Address
2 Hayasmin Street
Industrial Park Ariel West
ARIEL
Mailing Address
P.O. Box 18
RA'ANANA 4310001 ISRAEL
A private limited
company, incorporated as per file No. 51-209785-8 on the 24.01.1995.
Authorized share
capital of NIS 27,100.00, divided into:
27,100 ordinary
shares of NIS 1.00 each, of which 100 shares amounting to NIS 100.00 were
issued.
1. Zion David Hai, 99%,
2. Mrs. Miriam David Hai, 1%.
Zion David Hai
Importers and marketers
of working & building tools and accessories, as well as gardening tools,
safety & protection accessories. Sales are under the imported international
brands and own label "Magnum".
Also importers and
marketers of inputs for the building sector and building finishing products,
including ceramics, faucets & sanitary ware, parquet flooring, electricity
installation, hardware and lock, ropes, sealing products, paints, etc.
Sales are to
traders and retail stores.
Sole local
importers and representatives of (among others):
FUJI POWER TOOLS
(tools), of Japan
KANGAROO (tools),
of Australia
FIRST TOOLS IND.
(SMIPO), of Taiwan
SOGUTSEN SERAMIK
(ceramics), ELKAY (adhesives), FLOORPAN (parquets), SERANOVA, all of Turkey.
Operating from
rented premises, on an area of 1,500 sq. meters, in 2 Hayasmin Street, Industrial Park Ariel West, Ariel (to where subject moved from Meshek No. 73,
Mazor Village, 3 months ago).
Having 14
employees (had 12 employees in mid 2012, same as in 2011).
Financial data not
forthcoming.
There are 15
charges for unlimited amounts registered on the company's assets (financial
assets and vehicles), in favor of The First International Bank of Israel Ltd., Bank Leumi Le'Israel Ltd. and its leasing companies (last 2 charges
placed December 2011-February 2012).
Sales figures not
forthcoming.
The First
International Bank of Israel Ltd., Kiryat Hamelacha Branch (No. 055), Tel
Aviv – main account.
Also working with
Bank Leumi Le'Israel Ltd., Yehud Branch (No. 832), Yehud, account No. 10900/75.
A check with the
Central Banks' database did not reveal anything detrimental on subject’s a/m
account.
Nothing
unfavorable learned.
Subject's General
Manager refused to disclose financial data.
Central Bureau of Statistics data reveals
that investments by the local manufacturing industries -both from import and
domestic production- in machinery & equipment (M&E) in 2012 fell by 1%,
which comes after 41% rise in 2011. The investments originating from import,
which comprised 70% of overall investment in M&E, fell 3.8% (after 69% rise
in 2011), while investment originating from local production – rose by 6.2% in
2012 (fell b5 3% in 2011).
Gross
Domestic Capital Formation (investment) in machinery & other equipment in 2012 reached (in current prices) NIS 47,540 million, of
which NIS 33,336 million was from imports and NIS 14,204 miilion from domestic
production.
According to CBS,
investments by the local industrial branch in imported machinery and other
equipment in 2012 witnessed almost 20% (in current prices) decrease from 2011,
after climbing by 108% in 2011 from 2010. The fall in 2012 in investment could
be explained by the continuing unfavorable business environment, also
negatively affected by the slow-down in overseas markets.
The building sector indicators show ambiguous signs in recent periods.
Volume of building starts for dwelling (which is an indicator for the trend in
the building sector) in 2012 indicated a 13% decrease from 2011, reaching close
to 40,000 new apartments, though building starts in the 4th quarter
marked a 40% rise from the previous quarter. The decline in 2012 came after a
growth trend in building starts in the previous couple of years (9% in 2011 and
7% rise in 2009).
On the other hand, after in 2011 the number of dwellings transactions
fell by 18% from 2010, an increase in acquisition of dwellings was noted in
2012 by same rate of 18%, though the Government expects the number to fall in
2013 following steps taken.
Private consumption expenditure by households in
2012 on Housing and on Housing Equipment grew by 3% and fell by 2.7% from 2011,
respectively, in annual calculation (grew by 2.8% and 20%, respectively, in
2011 from 2010).
Notwithstanding
the refusal to disclose financial data, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.28 |
|
|
1 |
Rs.84.32 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
|
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 |
|
-- |
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.