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Report Date : |
11.04.2014 |
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Tel. No.: |
972 4 839 23 33 |
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Fax No.: |
972 4 839 15 80 |
IDENTIFICATION DETAILS
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Name : |
DANIAL IMPORT FROM THE EAST LTD. |
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Registered Office : |
P.O. Box 1141, Aba Hushi Ave., Ussefiya 3009000 |
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Country : |
Israel |
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Year of Establishments: |
1997 (Sole Proprietorship) 30.12.2003 (Private Limited Company) |
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Com. Reg. No.: |
51-348478-2 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers
of furniture and gift ware from the Far East. |
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No. of Employees |
06 |
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 : |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 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.
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Source
: CIA |
DANIAL IMPORT FROM
THE EAST LTD.
(Also known as
DANIAL IMPORT)
Telephone 972 4 839 23 33
Fax 972 4 839 15 80
P.O. Box 1141
Aba Hushi Ave.
USSEFIYA 3009000 ISRAEL
Original
established as a sole proprietorship in 1997.
Converted into a
private limited company and registered as such as per file No. 51-348478-2 on
the 30.12.2003.
Authorized share capital NIS 39,100.00, divided into -
39,100 ordinary shares of NIS
1.00 each,
of which 100 shares amounting to NIS 100.00 were issued.
Subject is fully
owned by Ori Akram Mansur.
Ori Akram Mansur.
Importers and marketers of furniture and gift ware from the Far East.
80% of purchase is from India.
Sales are to over 200 retail stores and to private individuals.
Operating from premises, half owned by shareholders and half rented, on
an area of 1,000 sq. meters, in Aba Hushi Ave, Ussefiya.
Having 6 employees (same as in previous years).
Current stock is valued at NIS 1,000,000.
Other financial data not forthcoming.
There are 2 charges for unlimited amounts registered on the company's
assets (financial assets and a vehicle), in favor of Israel Discount Bank Ltd.
Charges placed in 2004 and in 2006).
2012 sales claimed to be NIS 3,000,000.
2013 sales claimed to be NIS 3,000,000.
Israel Discount
Bank Ltd., Hamifratz Branch (No. 176), Haifa, account No. 17835.
A check with the
Central Banks' database did not reveal anything detrimental on subject’s a/m
account.
Nothing
unfavorable learned (please see NOTE at bottom).
According
to the Central
Bureau of Statistics, import of consumer goods in 2013 marked a 2.2% increase
continuing the rise of 1.9% in 2012 and 9.8% in 2011. Most of the rise was in
durable goods (4.1%), which comprising some 40% of the import volume, while
import in durable goods rose by mere 0.9% from 2012. Main rise derived from
import of Household Utensils in 2013 which rose by 2.5% from 2012, summing up
to NIS 2,546 million (in NIS terms, 9.5% in $ terms), after 1.7% in 2012.
The local
household products market is considered highly competitive after reaching
market saturation. It includes household textile, tableware and kitchenware and
utensils, bath accessories and ornaments &decorative items, ceramic and
glass ware, etc. According to estimations, the local household products market
volume reaches NIS 2.5 – 3 billons annually (of which circa NIS 1 billion for
“home textile”), and includes retail, wholesale, institutional markets (Retail
chains capture 30% of the market share, specialization stores 20%, while the
institutional and workers unions sector has 50% share).
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
do not know the reason in subject's case; It is also possible that
there is a technical or administrative problem, as such things also happen).
2. Since the beginning of 2012
Israel Post started using a new area code method of 7 digits (the old method of
5 digits will still be valid till end of 2012).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.21 |
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UK Pound |
1 |
Rs.101.05 |
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Euro |
1 |
Rs.83.33 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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 |
-- |
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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.