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Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
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Name : |
BAR LAKOL LTD. |
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Formerly Known as: |
BAR LAKOL |
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Registered Office : |
P.O. Box 25065, Haifa (3125001), 16 Shmuel Rozov Street, Haifa 3295336 |
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Country : |
Israel |
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Year of Establishments: |
1950 |
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Com. Reg. No.: |
No. 51-281251-2 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Processing plant and marketers of cereals and pulses. · Importers and marketers of cereals and pulses. |
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No. of Employees : |
Having 8 employees (had 7 employees in 2010) |
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
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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 |
BAR LAKOL LTD.
Telephone 972 4 841 19 72
Fax 972 4 840 68 06
P.O. Box 25065, Haifa (3125001)
16 Shmuel Rozov
Street
HAIFA 3295336 ISRAEL
Originally
established as a sole proprietorship in 1950 under the name “BAR LAKOL”, by Yaacov
Biran.
Converted into a private limited company and incorporated as such as per file No. 51-281251-2 on the 01.08.1999.
Authorized share
capital NIS 38,100.00, divided into –
38,100 ordinary shares of NIS
1.00 each,
of which 1,000
shares amounting to NIS 1000.00 were issued.
1.
Yaacov Biran, 51%,
2.
Noam Biran, 49%, son of Yaacov.
1.
Yaacov Biran.
2.
Noam Biran.
1.
Processing plant and marketers of cereals and
pulses.
2.
Importers and marketers of cereals and pulses.
Subject also grows
cereals and pulses for own use/ production.
Among customers:
SONS OF GEORGE SHUKHA, ZANLAKOL, PRI GALIL, NOF HADAGAN, and many others.
Inputs and raw materials
are grown by subject as well as from import.
Sole local representatives of (main agencies):
· EUROPEAN OAT MILLERS, of the U.K,
· NUAVA GENOVESE, of Italy.
Operating from
premises, owned by the shareholders, on an area of 600 sq. meters in 16 Shmuel
Rozov Street, Haifa. Also operate from warehouse, also owned by the
shareholders, on an area of 800 sq. meters, in Check-Post Industrial Zone,
Haifa.
Having 8 employees
(had 7 employees in 2010).
Financial data not
forthcoming.
Properties owned
by shareholders in 16 Shmuel Rozov Street, Haifa and Check-Post Industrial
Zone, Haifa is highly valued.
There are 5 charges for unlimited amounts registered on the company’s
assets (financial assets and a vehicle), in favor of Bank Leumi Le'Israel Ltd.,
Bank Hapoalim Ltd., Mizrahi Tefahot Bank Ltd., and a leasing company (last
charge placed December 2011).
Sales figures not forthcoming.
SHUK HA'IKARIM VE-HABAR LTD., owned by Ms. Ella Biran, mother of Noam Biran,
operating a retail store for cereals and pulses and other products from 26
Hashalom Rd., Nesher (near Haifa). Having 2 employees.
Bank Leumi
Le’Israel Ltd., Neve-Shaanan Branch (No. 882), Haifa, account No. 472400/26.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
· Mizrahi Tefahot Bank Ltd., Neve-Shaanan Branch (No. 492), Haifa.
· Bank Hapoalim Ltd., Hamifratz Business Branch (No. 169), Haifa.
Nothing
unfavorable learned.
Subject’s General Manager refused to
disclose financial details.
In 2008 subject
was awarded tax reductions for import of 10 tons of preserved cherries, 5.5
tons of pickled cherries, 12 tons of preserved mushrooms, 20 tons of unprocessed
tobacco, 10 tons of peeled hazelnuts, 20 tons of chocolate and other food
additives, 14 tons of olive oil (from Jordan), 20 tons of processed &
preserved tomatoes (from Canada).
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.
Local food industry employs over 61,000 workers.
According to Central Bureau of Statistics (CBS) data,
investments in machinery & equipment from import for the food industry in
2011 summed up to NIS 929.5 million, 47.7% rise from 2010 (after 15.4% increase
in 2010), while investments in machinery & equipment from import for the
beverage & tobacco industries rose by 2% to NIS 379.7 million (rose 9.7% in
2010).
The
CBS 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 CBS preliminary National Accounts for
2012, it turns that in 2012 expenditure on private consumption grew by 2.8%
from 2011, after rising by 3.8% in 2011. Per-capita expenditure increased by
0.9% (1.9% 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 and tobacco and 4.5% expenditure
on clothing, footwear and personal effects.
Notwithstanding the refusal to disclose
financial details, considered good for trade engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.27 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.