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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
AGROTOP LTD. |
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Registered Office : |
P.O. Box 150, D.N. Shikmim, Timorim 7986000 |
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Country : |
Israel |
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Date of Incorporation : |
30.08.1989 |
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Legal Form : |
A Private Limited Company |
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Line of Business : |
Subject is engaged
in entrepreneurship and construction of industrialized construction for
industry and agriculture, performing construction works projects. |
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No. of Employees : |
60 |
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 – 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.
Source
: CIA
AGROTOP LTD.
Telephone 972 8 861 16 00
Fax 972 8 861 16 01
Email: mail@agrotop.co.il
P.O. Box 150
D.N. Shikmim
TIMORIM 7986000 ISRAEL
A private limited
company, incorporated as per file No. 51-140994-8 on the 30.08.1989.
Authorized share
capital NIS 10,000.00, divided into -
9,975 ordinary
shares (1,000 shares issued),
25 management
shares (issued), all of NIS 1.00 each, of which shares amounting to NIS
1,025.00 were issued.
1. HAPACH METALS INDUSTRIES LTD.,
62% of ordinary shares and 36% of management shares issued, owned by Nahum
Hankin,
2. Gavriel (Gabi) Peleg, 19% of
ordinary shares and 32% of management shares issued,
3. Alexander (Alex) Stein, 19% of
ordinary shares and 32% of management shares issued.
1. Nahum Hankin,
2. Gavriel (Gabi) Peleg,
3. Alexander (Alex) Stein.
Avner Etzion.
Engaged
entrepreneurship and construction of industrialized construction for industry
and agriculture, performing construction works projects in Israel and abroad
(in some 40 countries).
Subject
specializes in hen-houses.
Subject builds for
industrial plants, logistics warehouses, central vehicle garages, commercial
buildings, agricultural settlements.
Amongst clientele:
RAMI LEVI HASHIKMA MARKETING, HP ISRAEL, ALLIED Group/ CHAMPION MOTORS, TNUVA,
EGGED, and more.
Operating from
owned premises, on an area of 8,000 sq. meters, in Timorim Village (“Moshav
Timorim”, where “moshav” is a local typical village or settlement, in
particular a type of cooperative agricultural community of individual farms),
situated near Kiryat Malachi. Compound serves also parent company HAPACH
METALS.
Having 60
employees (same as in 2012).
Owned property in
Timorim Village is highly valued.
Financial data not
forthcoming.
Subject is an “Approved
Enterprise” which as such enjoys tax benefits and state incentives.
In June 1999, the
Israeli Investment Center (IIC) approved the expansion of subject’s plant, for
a sum of US$ 562,000.
There are 22 charges for unlimited amounts,
as well as 3 charges for the total sums of NIS 508,183.00 registered on the
company's assets (financial assets, fixed assets and vehicles), in favor of
Bank Leumi Le'Israel Ltd., Bank Hapoalim Ltd., The First International Bank of
Israel Ltd. and Mizrahi Tefahot Bank Ltd. (last 3 charges placed June – July
2013 on financial assets).
2010 sales claimed
to be NIS 170,000,000.
2011 sales claimed
to be NIS 170,000,000.
2012 sales claimed
to be NIS 180,000,000.
Projected 2013
sales are NIS 180,000,000.
Subject has
holdings in ECO TOP ENERGY LTD., which holds 65% of SOLAR ON TOP LTD.,
importers, marketers and integrators of photo-voltaic (PV) solar energy systems
for grid-connected applications.
HAPACH METALS
INDUSTRIES LTD., parent company, established in 1949, manufacturers of
metal-based solutions for agriculture (poultry enclosure solutions) and
industry (metal works, wires, fences, etc.) for the local and overseas markets.
Annual sales: NIS 60 million.
Bank Hapoalim Ltd.,
Rehovot Business Branch (No. 412), Rehovot, account No. 698110.
Bank Leumi
Le'Israel Ltd., Rehovot Business Branch (No. 978), Rehovot, account No.
338900/58.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m accounts.
Also started
working with:
The First
International Bank of Israel Ltd., Avney Hen Branch (No. 126), Ramat Gan.
Nothing
unfavorable learned.
Subject's
activities are veteran, and considered among the leading in their field.
Subject is
registered in the Israeli Contractors’ Almanac as per No. 12423.
Good for trade
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
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|
1 |
Rs.101.20 |
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Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
-- |
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.