|
Report Date : |
11.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
EUROSTANDART LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
01.07.2003. |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importers and Marketers of Foodstuffs and
Beverages (Alcoholic Beverages, Mineral Water). |
|
|
|
|
No. of Employees : |
40 Employees |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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) |
|
|
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
Source
: CIA |
EUROSTANDART LTD.
Telephone 972
3 720 90 00
Fax 972 3 720 90 10
Email: yael@eurostandart.co.il
Physical Address:
Hevel Modi'in Industrial Park (7319900)
Mailing Address:
KFAR TRUMAN 7315000
A private limited company, incorporated as
per file No. 51-342849-0 on the 01.07.2003.
Authorized share capital
39,100 ordinary shares of NIS 1.00 each,
of which 300 shares amounting to NIS 300.00 were issued.
1.
Alexander Eizenberg, 50%,
2.
Uri Ben-David, 50%.
1.
Alexander Eizenberg,
2.
Uri Ben-David.
Importers and marketers of foodstuffs and beverages (alcoholic beverages,
mineral water), mainly from Russia and Former Soviet Union countries, as well
as from other countries.
All purchasing is from import.
Sole local representatives of (among others):
RUSSIAN STANDART, of Russia.
PLANET PICKLES, of India.
RISTON TEA, of Sri Lanka,
BORJOMI, of Georgia,
BENAGES, of Spain,
CALVE, of The Netherlands.
Amongst clientele are leading supermarket chains, e.g. HATZI HINAM, SUPER
DOSH, TIV TAAM, SHUFERSAL, ISH HAANAVIM, SOGOOD, wholesalers, delicatessen and
shops.
Operating from rented premises, on an area of 2,000 sq. meters, in 9
Harimon Street, Hevel Modi’in Industrial Park, and from premises, owned by the
shareholder Uri Ben-David, on an area of 1,500 sq. meters, in Kfar Truman (a
village near Netanya), a premises which also serve Uri Ben David’s other
companies.
Had 40 employees in the end of 2010, current number of employees
unavailable.
Stock was valued at NIS 8,000,000 in the end of
2010.
Other/ later financial data not forthcoming.
There are 5 charges for unlimited amounts, as
well as 1 charge for the amount of NIS 325,000.00 registered on the company's
assets, in favor of Bank of Jerusalem Ltd., Israel Discount Bank Ltd. and Bank Leumi
Le'Israel Ltd.
1 charge on vehicle placed in 2004, 3 charges on financial assets placed in 2010-2011, 1 charge on all assets placed
in 2011, and last charge placed March 2012 on real estate assets.
2008 sales claimed to be NIS 30,000,000.
2009 sales claimed to be NIS 42,000,000.
2010 sales claimed to be NIS 54,000,000.
Later sales data not forthcoming.
Sister companies, owned by subject’s shareholders:
EUROCHEESE IMPORT AND MARKETING LTD., manufacturers, importers and marketers of
cheeses.
PARLIAMENT CHOICE INTERNATIONAL (2010) LTD., jeans manufacturers.
SHTERN E.U FOOD
PRODUCTS LTD., 50% owned by Uri Ben-David, established
in 1997, dealers, importers and marketers of foodstuffs.
THE COUNTRY DAIRY - KFAR TRUMAN LTD., owned by Uri Ben-David, a dairy,
cheese producers, operating from Kfar Truman, Farm #40 (address of Uri
Ben-David).
Israel Discount Bank Ltd.,
Kiryat Arie Branch (No. 186), Petach Tikva,
account No. 315400.
A check with the
Central Banks’ Database did not reveal any negative information concerning
subject’s a/m bank account.
Nothing unfavorable learned.
So far subject's officials refused to update data. Our request was passed on
to the General Manager, who will consider it.
In case they return to us with further data, we will update you
accordingly.
Uri Ben-David is veteran in the local cheese market.
The local food and beverages market rolled a turnover of around US$ 48 billion
in 2008.
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.
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.
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, considered good for trade
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.73 |
|
|
1 |
Rs.100.92 |
|
Euro |
1 |
Rs.84.06 |
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 |
|
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.