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Report Date : |
17.04.2014 |
IDENTIFICATION DETAILS
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Name : |
SHAI MECKER
TRADING (1996) LTD. |
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Formerly Known As : |
SHAI MECKER LTD. |
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Registered Office : |
P.O. Box 3075, 7 Baraket Street, Northern
Industrial Zone, CAESAREA 3088900 |
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Country : |
Israel |
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Date of Incorporation : |
10.11.1996 |
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Com. Reg. No.: |
51-239377-8 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and
marketers of clothes, specializing in undergarments. |
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No of Employees : |
27 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
ISRAEL -ECONOMIC OVERVIEW
Israel has a technologically advanced market economy. Cut diamonds, high-technology equipment, and pharmaceuticals are among the leading exports. Its major imports include crude oil, grains, raw materials, and military equipment. Israel usually posts sizable trade deficits, which are covered by tourism and other service exports, as well as significant foreign investment inflows. Between 2004 and 2011, growth averaged nearly 5% per year, led by exports. 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. 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. The economy has recovered better than most advanced, comparably sized economies, but slowing demand domestically and internationally, and a strong shekel, have reduced forecasts for the next decade to the 3% level. Natural gas fields discovered off Israel's coast since 2009 have brightened Israel's energy security outlook. The Tamar and Leviathan fields were some of the world's largest offshore natural gas finds this past decade. The massive Leviathan field is not due to come online until 2018, but production from Tamar provided a one percentage point boost to Israel's GDP in 2013 and is expected to contribute 0.5% growth in 2014. In mid-2011, public protests arose around income inequality and rising housing and commodity prices. Israel's income inequality and poverty rates are among the highest of OECD countries and there is a broad perception among the public that a small number of "tycoons" have a cartel-like grip over the major parts of the economy. 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. Over the long term, Israel faces structural issues, including low labor participation rates for its fastest growing social segments - the ultra-orthodox and Arab-Israeli communities. Also, Israel's progressive, globally competitive, knowledge-based technology sector employs only 9% of the workforce, with the rest employed in manufacturing and services - sectors which face downward wage pressures from global competition.
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Source
: CIA |
SHAI MECKER TRADING (1996) LTD.
Telephone 972
4 637 92 25
Fax 972 4 637 92 26
P.O. Box 3075
7 Baraket Street
Northern Industrial Zone
CAESAREA 3088900 ISRAEL
A private limited company, incorporated as per
file No. 51-239377-8 on the 10.11.1996.
Subject was incorporated in order to continue
the activities of SHAI MECKER LTD. (established in 1990), which became
non-active following a change in ownership.
Authorized share capital NIS 29,400.00, divided
into-
29,400
ordinary shares of NIS 1.00 each,
of which 1,715 shares amounting to NIS 1,715.00
were issued.
1. ROSENTHAL
GILAD HOLDINGS LTD., 45%, owned by Gilad Rosenthal,
2. Rose
Guetta, 22.5%,
3. Ms.
Ariela Ester Guetta, 11.25%,
4. Ms.
Sharon Carmela Guetta, 11.25%,
5. Sami
Weiss, 10%.
Gilad Rosenthal.
Importers and marketers of clothes, specializing
in undergarments.
Among clientele: SHUFERSAL, MEGA RETAIL (latter two
are the local largest supermarket chains), HAMASHBIR DEPARTMENT STORE (local
largest department store chain), SELECTION FASHION WAREHOUSES, HANGAR, SAKAL
GROUP, etc.
All purchase is import.
Subject operated the "Keds" brand in
the undergarment field, paying royalties to SAKAL INTERNATIONAL (the local
concessionaire).
Operating from rented premises, on an area of
2,300 sq. meters, in 7 Bareket Street, Northern Industrial Zone, Caesarea, and
from a retail store, in 21 Mizrahi Street, Tel Aviv.
Having 27 employees (Had 26 employees in mid
2012, 25 employees in the end of 2011, same as in 2010, had 20 employees in
2009).
Current stock is valued at NIS 10,000,000.
Other financial data not forthcoming.
There are 8 charges for unlimited amounts registered
on the company’s assets (financial assets and vehicle), in favor of Mizrahi Tefahot
Bank Ltd. and The First International Bank of Israel Ltd.
(last charge placed in September 2008).
2012 sales claimed to exceed NIS 100,000,000.
2013 sales claimed to exceed NIS 100,000,000.
SHAI MECKER LTD., non-active.
The First International Bank of Israel Ltd.,
Kiryat Bialik Branch (No. 008), Kiryat Bialik, account No. 387568.
Mizrahi Tefahot Bank Ltd., Kenyon Orot Branch (No.
438), Or Akiva,
account No. 118084.
A check with the Central Banks' database did not
reveal any negative information regarding subject's a/m accounts.
In August 2008 The Patents, Designs and
Trademarks Office ruled that subject violated the rights of
NIKE Inc. by using a brand name "Hike", and ordered to erase it from
the trade mark registry. The matter reached the Courts and in principle it was
established that the use of the “Hike” logo is problematic. However, there were
some procedural counter allegations and eventually subject was advised by the
Judge to add a distinctive mark jointly with the brand name so it can continue
to use “Hike” without violation.
Apart from that, nothing unfavorable learned.
Subject's business is veteran.
The under garment sector in Israel valued at NIS 1.95 billion in 2012
(5% up from 2011). As of end of 2010, there were some 1,100 points of sale for
under garment products, of which 510 of under garment retail chains (2 main
players are subject and HAMASHBIR 365, holding 56.4% of market sales). In 2012,
braziers and fitters are the main product - 48% of under garment sales, under
ware 19%, sox and stockings 15%, sleep dressing 11% and undershirts 7%. In 2012
import of under garment was of NIS 930 million (10% increase from 2011).
Reportedly,
total revenues of the local fashion market in 2013 reached NIS 12 billion per
annum. In 2012 sales reached NIS 11 billion. 40% of sales are in the large
fashion chains, 34% in other smaller chains, and the rest in private shops.
According to the fashion market survey, which monitors
sales by the local fashion chains, 2012 marked almost a freeze in revenues,
with mere 0.7% increase from 2011. The data reveals that in 2012 41 fashion
chains (out of 72 chains with total of over 1,600 shops) noted decrease in
sales of aparel and footwear.
Based on surveys, around 50%
and more is women's fashion. Moreover, 40% of fashion stores in Israel belong
to fashion chains, the rest being private shops.
According to the Central Bureau of Statistics (CBS), import of
Clothing and Footwear in 2013 rose by mere 0.9% from 2012 (in NIS terms, rose
by 7.9% in $ terms), summing up to NIS 6,854 million. This is after 2012 marked
13.3% rise (5.1% in $ currency terms). That data shows on the continuing
growing trend over the last of years – by 19% and by 13.4% in 2011 and 2010,
respectively, in comparison to the previous year. Most import comes from China.
Main other countries of origin for textile goods are France, Italy, Hong Kong
and Turkey, Spain and the U.S.A.
The local fashion market has been significantly
influenced by the entrance of new international fashion players to the already
highly competitive local market (GAP, H&M in 2009/2010, Forever 21 in
2011).
Sources in the local fashion branch noted that
over the last periods the branch re-entered slow-down and stagnation, resulting in
drop in revenues. There have been also few collapses of veteran and big
retailers in some niches, including in the ladies fashion and children's
apparel. The is explained by several
factors, including the present slow-down in local economy, and the fierce
competition where the entrance of the strong international chains are dragging
prices down but do not bring to expansion of the fashion market.
From the Central Bureau of Statistics National Accounts for 2013, it
turns that expenditure by local households on private consumption grew by 3.7%
from 2012, after rising by 3.2% in 2012 and by 3.8% in 2011.
Expenditure on clothing and footwear rose
by 2% (after rising by 8.6% in 2012 and by 5.8% in 2011).
Per-capita private consumption expenditure increased by 1.8% (1.4% in
2012).
Good for trade engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 60.26 |
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1 |
Rs. 100.78 |
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Euro |
1 |
Rs. 83.29 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
DPT |
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.