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Report Date : |
29.04.2014 |
IDENTIFICATION DETAILS
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Name : |
M.Y.D. GOLYAN
LTD. |
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|
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Registered Office : |
12 Hassan 2nd,
King Of Morocco Street, Kiryat Ekron 7692000 |
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Country : |
Israel |
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Date of Incorporation : |
16.01.2014 |
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Com. Reg. No.: |
51-500486-9 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Importers and Wholesale Marketers of gifts
and Household Goods. |
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No of Employees : |
20 employees (had 14 employees in end of 2011) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source : CIA |
M.Y.D. GOLYAN LTD.
Telephone 972 8 915 31 96
Fax 972
8 929 58 65; 3 682 62 21
12 Hassan 2nd, King of Morocco Street
KIRYAT EKRON 7692000 ISRAEL
A private limited
company, incorporated per file No. 51-500486-9 on the 16.01.2014.
Following the
entrance of new shareholders (brothers of Morris Golyan), in January 2014
subject assumed all activities of GOLYAN GIFTS LTD. (which consequently turned
inactive), established 1999, which assumed activities of MORRIS GIFTS LTD.
(struck-off from the Registrar). MORRIS GIFTS itself continued activities of a
sole proprietorship established in 1989 by Morris Golyan, under the name GOLYAN
MORRIS GIFTS.
(Note: Subject does
not have a registered Latin Name, therefore both spelling “GOLYAN” and “GOLIAN”
are acceptable).
Authorized share capital
NIS 50,000.00, divided into: –
1 golden share
(issued),
49,999 ordinary shares
(100 shares issued), all of NIS 1.00 each,
of which shares amounting to NIS 101.00 were issued.
According to the Registrar
of Companies:
1.
Morris Golyan, 100% of
ordinary shares,
2.
Achsan Golyan, holding 1
golden share.
We are informed that in practice subject is equally owned by Morris Golyan
and his brothers David Golyan and Yosef Golyan, and in the near future this
will be listed on the Registrar of Companies.
Yosef Golyan.
1. Morris Golyan,
2. David Golyan,
3. Yosef Golyan.
Importers and wholesale marketers of gifts and household goods.
Among clients: LIBERO, TEZUGAT RIENEH VEHICLES, HATZI HINAM, ISRAEL
AEROSPACE INDUSTRIES, BAR KOL RESHATOT
All purchasing is from import, chiefly from the Far East.
Operating from premises (offices, warehouses), owned by Morris Golyan, on
an area of 3,500 sq. meters, in 12 Hassan 2nd, King of Morocco
Street, Kiryat Ekron (owned area is actually larger – see below).
Having 20 employees (had 14 employees in end of 2011).
Current stock is valued at NIS 3,500,000 (was valued at NIS 3,000,000 in
mid 2013, NIS 2,000,000 in end of 2011, similar to previous years).
Subject's other financial data not forthcoming.
Morris Golyan owns a real
estate property in 12 Hassan 2nd, King of Morocco
Street, Kiryat Ekron on total area of 11,000 sq. meters, of which subject is using 3,500 sq.
meters and the rest is leased to 3rd parties. The whole property is
valued at NIS 55,000,000.
Besides the property in Kiryat Ekron, Morris Golyan also (based on our from end of 2011) own the former premises they used to
work from in Tel Aviv (before moving to the current location), which is estimated
at value of circa US$ 500,000.
There are 3 charges for unlimited amounts registered on the company's
assets (financial assets), in favor of Bank Leumi Le’Israel Ltd. and Israel
Discount Bank Ltd. (charge placed February-March 2014).
sales are of GOLYAN GIFTS
LTD.:
2008 sales claimed to be NIS 16,000,000.
2009 sales claimed to be NIS 15,000,000.
2010 sales claimed to be NIS 15,000,000.
2011 sales claimed to be NIS 15,000,000.
2012 sales claimed to be NIS 16,000,000.
2013 sales claimed to be NIS 16,000,000.
G.M. DESIGNED ARTIFACTS LTD., owned by Morris Golyan, operating 2 retail
stores of gifts and household goods.
M.G.D. OFEK INVESTMENTS LTD., owned by Morris Golyan, a real estate
company.
Bank Leumi Le’Israel Ltd., Florentin Branch (No. 805), Tel Aviv.
Israel Discount Bank Ltd., Tel Aviv City Branch (No. 014), Tel Aviv.
It was reported that in April 2008, NAAMAN PORCELAIN LTD., a local publicly
traded company, importers, marketers, distributors and retailers of household goods,
filed a lawsuit to the Tel Aviv District Court against GOLYAN GIFTS LTD. and its shareholder and manager, Mr. Morris Golyan, claiming the defendants import and sell imitations of NAAMAN
tableware products, on which also NAAMAN trademark appears.
Reportedly, NAAMAN approached subject asking them to cease from selling the
imitations and for compensations, but subject refused to do so.
No further data was found on matter.
Apart from that, nothing unfavorable learned.
According
to Central Bureau of Statistics (CBS), 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).
The total giftware
market in Israel is estimated at NIS 9 - 10 billion (including holidays
presents) annually according to surveys. The market has been growing over the
last years, which brought the local supermarket chains to expand their
activities in this branch, considered 'Non-Food'. The market is divided into
the following categories: simple shops, exclusive shops, household and giftware
chains, complementary department in marketing chains, and departments in DIY
chains.
From the CBS 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. Per-capita
expenditure increased in 2013 by 1.8%.
Consumption expenditure by households on
durable goods rose by 3.7% from 2012 (after remaining level in 2012 and rising
7.9% rise in 2011), although a breakdown shows that expenditure on furniture and jewelry rose by 3.5%, in contrast
to a 0.9% decrease in electric appliances and other equipment.
Good for trade
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.50 |
|
UK Pound |
1 |
Rs.101.69 |
|
Euro |
1 |
Rs.83.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
MNL |
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.