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Report Date : |
26.10.2013 |
IDENTIFICATION DETAILS
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Name : |
HABONIM INDUSTRIAL VALVES & ACTUATORS LTD. |
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Registered Office : |
Mobile Post |
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Country : |
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Date of Incorporation : |
26.01.2006 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers, marketers and exporters of ball valves and pneumatic
actuators in a wide range of sizes and materials |
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No. of Employees : |
170 |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
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Source
: CIA |
HABONIM INDUSTRIAL
VALVES & ACTUATORS LTD.
Telephone 972 4 691 49 11/ 00;
691 49 35
Fax 972
4 691 49 02
Mobile Post
KFAR HANASSI 1230500
A private limited
company, incorporated as per file No. 51-378900-8 on the 26.01.2006.
On the 01.01.2007 subject
assumed all the business activities of HABONIM CAST PRODUCTS LTD., a private
limited company originally incorporated in 1960 by Kibbutz Kfar Hanassi (this
company at a later stage also took over activities of its wholly-owned
subsidiary, HABONIM INDUSTRIAL VALVES LTD., established in 1965).
The move took place after Moshe Namdar (and
other investors) entered as investor in HABONIM Group acquiring part of the
shares from Kibbutz Kfar Hanassi, who until then was the sole owner.
Authorized share
capital NIS 10,000.00, divided into -
100,000 ordinary shares, of NIS
0.1 each,
of which 30,513
shares amounting to NIS 3,051.3 were issued.
1. Moshe Namdar, 72.2%
2. KFAR HANASSI HOLDINGS ACS
LTD., 12.2%, fully owned by Kibbutz Kfar Hanassi, a cooperative society,
operating a communal agricultural settlement,
3. Eliad Katz, 8.2%,
4. AYAL SHENHAV TRUSTEES LTD.,
6.4%,
3. HABONIM CAST PRODUCTS LTD.,
1%.
1. Moshe Namdar, Chairman,
2. Eliad Katz, General Manager,
3. Raanan Parnas,
4. Baruch Cohen,
5. Reuven Katz,
6. Yehuda Bachar.
Manufacturers,
marketers and exporters of ball valves and pneumatic actuators in a wide range
of sizes and materials. Products are stainless steel and aluminum cast products
and special high quality cast accessories.
Products are to
the Chemical, Petrochemical, Oil Refinery, Energy, Marine, Pulp and Paper,
Nuclear, Semiconductor, Pharmaceutical, Biotech, Food and other industries.
80% of sales are
export.
Subject’s
clientele includes also leading local corporate, such as BROMINE COMPOUNDS,
DEAD SEA WORKS, ELECTRICITY CORP, FRUTAROM, TEVA PHARMACEUTICAL INDS., KINETIC
SYSTEMS ISRAEL, etc.
Among local
distributors of subject’s products: TECHN-BAR, HAMEFALES, etc.
Among local suppliers:
M.S.M - METAL SINTER MEFALSIM
Operating from
premises (offices, plant), owned by Kibbutz Kfar Hanassi, on an area of several
thousands sq. meters (on a plot of 22,000 sq. meters, 9,000 sq. meters built),
in Kibbutz Kfar Hanassi.
Also operating from
branches in the USA, UK, India and China.
Having 170
employees.
Financial figures
not forthcoming.
Subject is an
“Approved Enterprise” and as such enjoys tax benefits and State incentives. The
Israeli Investment Center approved a US$ 3 million expansion plan for subject’s
plant in 1997.
There are 6
charges for unlimited amounts, as well as 3 charges for the total sums of €
220,000, US$ 315,000 and NIS 2,500,000 registered on the company's assets
(financial assets, fixed assets and equipment), in favor of The state of
Israel, Bank Hapoalim Ltd. Mizrahi Tefahot Bank Ltd. and Israel Discount Bank
Ltd. (last 3 charges placed in April-July 2013).
2012 sales claimed
to be NIS 115,000,000, 80% were for export.
Projected 2013
sales are NIS 130,000,000, 80% for export.
HABONIM INC.,
100%, USA.
HABONIM UK LTD.,
100%,
HABONIM VAAS
AUTOMATION Pvt. LTD., India (with Indian partner)
HABONIM CAST PRODUCTS LTD., holding company.
HABONIM INDUSTRIAL
VALVES LTD., non-active.
ELTAV WIRELESS
MONITORING LTD., 16%, developers, manufacturers, exporters and marketers of
wireless valve monitoring systems for the industry.
Moshe Namdar also
has holdings in:
MOSHE NAMDAR &
CO. LTD., 100%,
MASINGITA LTD., 96%, both latter international traders in diamonds, processors, importers,
exporters and marketers of diamonds. MASINGITA's 2011 sales were US$ 100 million.
MOSHE NAMDAR GEMS
LTD.,
MOSHE NAMDAR
HOLDINGS LTD.,
MOSHE NAMDAR &
ASSOCIATES (2005) LTD.
Bank Hapoalim
Ltd., Nahariya Business Branch (No. 168), Nahariya.
Israel Discount
Bank Ltd., Kiryat Shmona Branch (No. 110), Kiryat Shmona.
CHARACTER AND
REPUTATION
Nothing
unfavorable learned.
Subject's officials refused to disclose financial data, besides sales
figures.
Subject is long
established and well-known in its field.
Subject is ISO
9001:2000 certified.
Mr. Moshe Namdar
is a well-known veteran diamond dealer, among the leading in Israel. Namdar is
known worldwide and enjoys an excellent reputation in the diamond branch.
Kibbutz Kfar
Hanassi, a locality in the Upper Galilee, founded in 1948. There are
310 members and a total population of 700. The Kibbutz is engaged in farming
activities, cultivating large areas of agricultural land,
livestock, etc. Besides the Kibbutz erected and are operating a hydro-electric power
station which produces electricity by using the Jordan stream.
In August 2004 it
was reported that HABONIM won an international tender to supply multinational
pharmaceutical company GSK with pneumatic valves and actuators in consideration
of US$ 7 million, with potential for further orders after 2 years. HABONIM won
another contract for a similar company in 2004, though name was not given.
In December 2005
HABONIM announced that for the first time it will supply pressure valves and
actuators to the Off Shore drilling rigs industry. HABONIM won 2 tenders to
Norwegian companies NATIONAL OIL and MARITIME. The initial phase of the
contract is worth US$ 1 million.
In January 2005 it
was reported that HABONIM will supply UK company STORK PROTECH with special
valves and equipment worth US$ 1.5 million for conveying radioactive materials.
Other contracts worth jointly US$ 2 million to China, USA and Ireland were
mentioned.
In February 2007,
it was reported that subject established a subsidiary in China for
manufacturing subject’s products.
In November
According
to data by of the Metal, Electrical and Infrastructure Industries Association,
representing the local Metal and Electricity Industries, which includes large
scale export-oriented industries on one hand and family-owned plants which sell
to the local market: 2010 sales (local and export) by the said industries
amounted to NIS 70 billion, comprising 25% of Israel's industrial output.
Results are similar to 2008 scales, after some 20% drop in 2009 due to the
significant slow-down in the local economy, affected by the global financial
and economic crisis. Sales for export reached US$ 10 billion in 2010.
Some 90,000
employees serve the said industries (26% of Israel's industrial workforce).
According to the Central
Bureau of Statistics (CBS), import of metals raw materials to
the local industries in 2012 marked a decreasing trend, after a remarkable
recovery in the years 2010 and 2011 from 2009 (a year where the local industry
suffered from slow-down in economy). Import of raw materials divided in 2012 as
follows: Iron and Steel – fell by 11.5%, reaching US$ 2,177 million (after
rising by over 30% per year in 2010 and in 2011); Precious Metals – down 13%
(after rising by 2% in 2011 and 22.5% in 2010) and reaching US$ 146 million;
Non-ferrous Metals – fell by 13% (after increase by 20% in 2011 and by 41% in
2010), reaching US$ 803 million.
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 5.3% 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 the
Central Bureau of Statistics, 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, which is also negatively affected by the slow-down in
overseas markets.
Good for trade
engagements.
Note: Since February 2013 Israel Post has
started using a new area code method of 7 digits (the old method of 5 digits is
no longer valid).
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.63 |
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|
1 |
Rs.99.94 |
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Euro |
1 |
Rs.85.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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 |
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<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.