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Report Date : |
11.10.2013 |
IDENTIFICATION DETAILS
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Name : |
MOP-LINE MACHSHEVET LTD. |
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Registered Office : |
M.P. Yizrael,
Merhavia 1910500 |
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Country : |
Israel |
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Date of Incorporation : |
04.02.1993 |
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Com. Reg. No.: |
51-177709-6 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers, exporters and marketers of
pipes for irrigation uses |
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No. of Employees : |
10 |
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.
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Source : CIA |
MOP-LINE
MACHSHEVET LTD.
Telephone 972
4 642 04 46
Fax 972
72 244 93 71
Email:
office@mopline.com
M.P.
Yizrael
MERHAVIA 1910500 ISRAEL
A private limited company, incorporated as
per file No. 51-177709-6 on the 04.02.1993.
Authorized share capital NIS 20,800.00,
divided into -
20
management shares (10 shares issued),
20,780
ordinary shares (100 shares issued), all of NIS 1.00 each,
of which shares amounting to NIS 110.00 were
issued.
1. Erez Yiflach, holding 100% of management
shares issued and 90% of ordinary shares issued,
2. Ms. Rachel Melisko, holding 10% of ordinary
shares issued.
Erez Yiflach.
Manufacturers, exporters and marketers of
pipes for irrigation uses.
Almost all sales are for export.
Among clientele: AZUD, JOHN DEER WATER,
NAANDANJAIN, ADRITECH.
Operating from premises (office and plant),
owned by Erez Yiflach, on an area of 800 sq. meters in Merhavia Village
(“Moshav Merhavia”, where “moshav” is a local typical village or settlement, in
particular a type of cooperative agricultural community of individual farms),
situated near Afula.
Erez Yiflach informed us that the plant is
located on his owned property on a total area of 167,000 sq. meters, which is
mostly leased to farmers.
Having 10 employees.
Work is according to orders.
Financial data not forthcoming.
There are no charges registered on the company's assets.
2011 sales claimed to be US$ 1,000,000, nearly 100% for export.
2012 sales claimed to be US$ 1,000,000, nearly 100% for export.
We are informed that there is an increase of
50% in 2013 sales following the entry to the Indian market.
Bank Hapoalim Ltd., Afula Branch (No. 727),
Afula.
Nothing unfavorable learned (please refer
to NOTE below).
Prior to establishing subject, Erez Yiflach served
as the head of R&D in NETAFIM (pioneer in the drip irrigation field and
considered the largest company in the world in this area).
The Society of
Israel Plastic & Rubber Industry published data on the sector for 2011: The
sector’s turnover (both local and for export) reached US$ 5,075 million,
representing 15% increase from 2009 (after 4% decrease from 2008, affected by
the global crisis).
Sales for export by the Plastic and Rubber Industry also grew by some
15% in 2011 up to US$ 1,882 million, after in 2010 exports returned to 2008
levels, prior to the global economic crisis. The growth trend in export –in US$
terms- was halted in 2012 with 2.7% decrease from 2011, reaching US$ 1,831
million.
Sales breakdown: 30% of the Plastic & Rubber sector's sales are
Household Products, 23% - Agriculture, 16% - Packaging, 9% - Building sector,
9% Industry, 5% Furniture, 4% - Compounds (rest is to other fields).
According to the
Central Bureau of Statistics, import of Plastic and Rubber raw material for the
local industry in 2012 summed up to NIS 9,037 million, 6% increase from 2011,
keeping the growth trend from 2010 and 2009, though in a well lower pace.
Investment in imported machinery and equipment to the Plastic &
Rubber industry fell in 2012 3% from 2011, totaling NIS 512.1 million. This is
after rising by 30% and 8% in 2011 and 2010 from the previous year,
respectively, while level of import in 2010 was just fractionally higher than
2009, far from record 2007 & 2008 years.
Good for trade engagements.
NOTE:
1.
According to the Registrar of Companies subject has
a "Law Violating Company" Status.
As part of the
Registrar efforts in the last period to collect fees and supervision on meeting
all duties by Companies’ law, such status notes have been added to the
registry. Registration as a "Law Violating Company" is done due
certain violation by the subject company for not meeting the Registrar of
Companies regulations promptly, mainly for not paying Registrar fees,
and/or not submitting annual reports on time. The sanctions and penalties
against the company in such case include fines up to NIS 250,000, not allowing
the company to register new charges on its favor, not allow registration a
charge on its assets (which may deprive the company from taking new loans at
their banks), cannot make changes in the Registrar, and more.
It should be noted
that this may not necessarily be connected to the company's business activities
and financial standing (although in many cases there is a connection, we
estimate it is not so in subject's case; It is also possible that there
is a technical or administrative problem, as such things also happen).
2. Please
note subject's correct Registration No. (51-177709-6 and not
51-77709-6).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.14 |
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UK Pound |
1 |
Rs.99.02 |
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Euro |
1 |
Rs.83.87 |
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 |
-- |
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.