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Report Date : |
05.04.2014 |
IDENTIFICATION DETAILS
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Name : |
AVNEI NOAM CONSULTING MARKETING AND CONTROL LTD. |
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Registered Office : |
11/1 Picasso Street, Kiryatata 2826005 |
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Country : |
Israel |
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Years of establishment : |
2007 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importers, Traders and Marketers of Stones (Marble, Granite, Ceramics) |
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No. of Employees : |
3 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
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 since 2011 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 Tamar
field started meeting all of Israel's natural gas demand in 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. In May 2013 the Israeli government, in a politically difficult
process, passed an austerity budget to reign in the deficit and restore
confidence in the government’s fiscal position.
|
Source
: CIA |
AVNEI NOAM CONSULTING MARKETING AND CONTROL LTD.
Telephone 972 4 848 00 87
Mobile 972 52 681 09 20
Fax 972 4 848 00 87
11/1
Picasso Street
KIRYAT
ATA 2826005 ISRAEL
Originally
established in 2007 as a sole proprietorship.
Converted into a
private limited company, and registered as such as per file No. 51-422458-3 on the 09.01.2009.
Note: AVNEI NOAM in Hebrew
is NOAM STONE.
Authorized share capital NIS 10,000.00, divided
into-
10,000 ordinary
shares of NIS 1.00 each, of which 1,000 shares amounting to NIS 1,000.00 were
issued.
Subject is fully owned by Yuval Talmor.
Yuval Talmor.
Importers, traders and marketers of
stones (marble, granite, ceramics, etc.) in Israel and the world.
Work is based on orders.
Operating from an office at the owned residence of the shareholder, in 11/1 Picasso Street, Kiryat Ata.
Having 3 employees.
Financial data not forthcoming.
There are 2 charges for unlimited amounts registered on the company’s
assets (financial assets), in favor of Bank Leumi Le'Israel Ltd. and Bank Hapoalim Ltd. (charge placed August 2013
and February 2009).
Sales figures not forthcoming.
Bank Hapoalim Ltd., Kiryat Tivon Commercial Center Branch (No. 735), Kiryat Tivon, account
No. 374793.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
Nothing unfavorable learned.
Yuval Talmor refused to disclose financial data.
Prior to establishing his own business, owner
Yuval Talmor used to be in a senior position in ALONI MARBLE LTD., a local
leading company in the fields of stone and marble, ceramics, sanitary ware and
inputs to the building sector. He worked in ALONI for 15 years.
There are some 250 importers of ceramics and granite porcelain operating in
Israel, and the branch is highly competitive. Import of tiles in 2011 fell by
3% from 2010, and remained steady in 2012. In terms of sq. meters – to 27,155
thousand sq. meters (2012).
In 2011 some 35% of imported ceramic and porcelain goods were from Turkey
(down from 37% in 2010), 30.7% from China (in constant rise in recent years),
on account of the traditional suppliers from Spain (17.7%) and Italy (15%).
From the Central Bureau of Statistics data,
investments in construction for dwelling in 2012 reached NIS 56.1 billion
(which comprises 62% of total investment in construction), higher by 6% (in
real terms) from 2011. Construction for dwelling fell by 0.3% in 2013 (despite
the Government's efforts to increase investments). The fall in investment also
lead to a rise in houses prices.
Investments in construction not for dwelling (public institutions,
commerce, industry, etc.) and other construction works (e.g. roads, offices,
industrial, institutional), summed up to NIS 37 billion in 2012, a 2.5% rise
from 2011. Investments in infrastructures comprise 18% of total investments in
construction.
Private consumption expenditure by households in
2012 on Housing and on Housing Equipment grew by 3% and fell by 2.7% from 2011,
respectively, in annual calculation (grew by 2.8% and 20%, respectively, in
2011 from 2010).
The building sector indicators showed an improvement in activities in
2013, after ambiguous signs shown in the previous several years. Volume of building
starts for dwelling (which is a dominant indicator for the trend in the
building sector) in 2013 reached 44,340 (although number may rise after final
calculations), a 3.4% increase comparing to 2012, a year in which a 13%
decrease from 2011 was noted. The decline in 2012 came after a growth trend in
building starts in the previous couple of years (9% in 2011 and 7% rise in
2009).
In 2013 there was also 11.8% increase in apartments whose construction
was finished (41,970 apartments).
Government efforts
to increase the supply side also witnessed in the double-digit rise in number
of plots being marketed and sharp rise in planning volumes.
Number of dwellings transactions rose by 19% in 2012 from 2011 (when it
fell by 18% from 2010), and climbed by 9% in 2013 reaching total of 111
thousands transactions (rise in both new and second-hand apartments). In new
apartments sold, a slight 0.3% rise noted in 2013 from 2012.
It should be noted that the number of apartments purchased for
investment fell by 20% in 2012, due to several factors (tax policy, other
investment channels, etc.).
Notwithstanding the refusal to disclose
financial details, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
|
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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.