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Report Date : |
31.08.2014 |
IDENTIFICATION DETAILS
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Name : |
A.B. DENTAL DEVICES LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.04.2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Developers, manufacturers, exporters and marketers of
dental implants and dental rehabilitation accessories. |
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No. of Employees |
100 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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. 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 |
A.B. DENTAL DEVICES
LTD.
Telephone 972 8 853 13 88
Fax 972 8 852 25 62
Email: info@abdentaldevices.com
P.O. Box 61, D.N. Evtach, Nir Galim (7924500)
19 Hayahalomim Street Light Industrial Zone
Ashdod 7761117 Israel
A private limited company, incorporated as per file No. 51-353119-4 on the 01.04.2004.
Authorized share capital NIS 100,000.00, divided into -
100,000 ordinary shares of NIS 1.00 each,
of which 200 shares amounting to NIS 200.00 were issued.
Company is fully owned by A.B. DENTAL DEVICES HOLDINGS LTD. Although not being told, we assume it is owned by Bar Shalom family (i.e. u/m directors).
Ms. Ofra Bar Shalom, General Manager,
Eliezer Bar Shalom,
Gure Bar Shalom.
Developers, manufacturers, exporters and marketers of dental implants and dental rehabilitation accessories. Subject specialized in computerized simulation of the precise location of the implant in the mouth.
Subject holds in 10 registered patents.
Export is for some 60 countries.
Among international cooperations: BENQ of Taiwan.
Operating from premises in 19 Hayahalomim Street, Light Industrial Zone, Ashdod. Based on a recent report, subject has most recently inaugurated its new facilities in this address, on an area of 4,500 sq. meters (over 2 floors).
According to recent report, having some 100 employees in Israel and abroad, though exact number not forthcoming.
Financial data not forthcoming.
Subject is an “Approved Enterprise” and as such entitled for State support, grants and tax relief. It received R&D funding from the Chief Scientist Office.
There are 9 charges for unlimited amounts, as well as 1
charge for the sum of 900,000.00 registered on the company's assets (financial
assets, machinery and equipment), in favor of Mercantile Discount Bank Ltd.,
Bank Hapoalim Ltd., Bank Leumi Le'Israel Ltd. and a telecommunications company.
1 charge placed in 2004, 2 charges placed in 2009, 1 charge placed in 2011, 3
charges placed in 2012, and last 3 charges placed in August & November 2013
on financial assets/bank accounts).
Sales figures not forthcoming.
A.B. DENTAL DEVICES HOLDINGS LTD., 100%, parent company.
BENQ DENTAL HEALTHCARE, 20%, Taiwan (see more in CHARACTER).
Bank Leumi Le'Israel Ltd., Ashdod Branch (No. 932), Ashdod, account No. 501600/93.
Mercantile Discount Bank Ltd., Ashdod Branch (No. 676), Ashdod, account No. 44626739.
A check with the Central Banks’ database did not reveal any negative information concerning subject’s a/m bank accounts.
(Note: we still have not confirmed a/m bank accounts with subject's officials).
Nothing unfavorable
learnt.
Despite our strenuous efforts, we were unable to speak with subject's officials - being told that General Manager, Ms. Ofra Bar Shalom, is very busy. We were directed to subject's Accountant, who asked to send him an email, which we did, so far without an answer. In case we receive further data, we shall update you accordingly.
Subject is
considered among the leading in their field.
Subject's
dental products adhere to the highest international standards and have CE mark
and FDA approval.
In March 2014 it was reported that subject signed a distribution agreement with BENQ of Taiwan, in which a joint venture will be established (BENQ DENTAL HEALTHCARE), in which subject will hold 20%. According to the report, several US$ millions will be invested in the company, which will purchase from subject in volume of tens US$ millions annually.
Israel is one of the leading countries in the dental implant field, and is No. 1 globally with 400 implants per 10,000 people (only 50 implants per 10,000 people in the USA).
Israel is considered one of the leading countries in the world in terms of investment in the Life Science and Biotechnology industry. In 2008 Israel was ranked 4th in investments in Biotechnology/GDP, while being among the leaders in the areas of investments and patents in Medical Device and Bio-Pharma fields.
According to the Central Bureau
of Statistics (CBS) sales for export from the manufacture of irradiation,
electromedical, electrotherapeutic and surgical equipment in 2011, 2012 &
first 11 months of 2013 were US$ 919.4 million, US$ 858.5 million & US$
740.6 million, respectively.
Notwithstanding the
lack of updated data from subject's officials, considered 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.60.48 |
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|
1 |
Rs.100.35 |
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Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
NIS |
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.