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Report Date : |
19.12.2014 |
IDENTIFICATION DETAILS
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Name : |
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Operating Office : |
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Country : |
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Year of Establishments : |
2000 |
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Legal Form : |
Sole Proprietorship Concern |
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Line of Business : |
Importers and marketers of Gifts, Smoking Products (Tobacco, Hookahs/ Nargilas,) & Textile Products. |
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No of Employees : |
Not Available [We tried to confirm the number of employees but no one is ready to
part any information from the concern management.] |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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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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, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Israel |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source : CIA |
GOA
Cellular 972 52 316 55 58
A sole proprietorship. Business activities started
around the beginning of the 2000's, though for a while operated under a private
limited company (GOA – JEWELRIES & PRESENTS LTD., reg. No. 51-308108-3),
which became inactive and owner Pinhas Cohen resumed working under the sole
proprietorship in 2005-2006.
Operating under License Dealer No. 029006475.
The business is registered the Tax
Authorities under the name of "COHEN PINHAS". Trade name is “GOA”.
Pinhas Cohen.
Pinhas (Pini) Cohen.
Importers and marketers of gifts, smoking products (tobacco, hookahs/ nargilas,) & textile products.
We could not determine actual/ physical place of operation. Last known address, which we confirmed in our last check on subject in mid 2013, was from as an office premises in 3 Yoel Salomon Street, Jerusalem (area code 9463303), which is also subject's address according to the VAT Authorities files. Also operated from shop and warehouse premises, in 44 Hakongres Street, Tel Aviv.
Mr. Cohen refused to tell us their address when we
spoke to him this time.
In the Telephone Directory, there is a telephone line on the name of
Pinhas Cohen in 21 Tzemach Hasade, in Ma'ale Adumim (it is a locality adjacent
Jerusalem, and it is very close to the address details you gave – the
street number is different; your address has spelling mistake). We could not
confirm that address.
Another address that came up in our searches is at 16 Shamai Street,
Jerusalem, which is in proximity to Yoel Salomon Street.
Number of employees
not forthcoming (we assume that few).
Financial data not
forthcoming.
Sales figures not
forthcoming.
In the end of
2010, we were told by subject’s official that subject does not work with banks. We do not know the
current status.
We found a recent (2014) lawsuit by a local
commercial sports broadcast channel CHARLTON against Mr. Pinhas Cohen. Full
details unavailable, we figure that the lawsuit is of CHARLTON claiming that
Mr. Cohen screened football broadcast to his clients without paying due
royalties to CHARLTON. From the proceedings, we learn that subject left the
premises in 3 Yoel Salomon Street several years ago and moved to work in a shop
in the corners of Shamai Street and Yoel Salomon Street (along the years, he
operated both shops in parallel).
We did not find any other detrimental on
subject or its owner.
Subject's owner, Mr. Pini Cohen, refused
categorically to disclose any details.
The previous fixed
line telephone number we had of subject (+972) 02-6251119 - line is
disconnected. This number is presently listed under the name GOA-PINHAS COHEN
in the Telephone Directory at 16 Shamai Street, Jerusalem.
According to the
Telephone Directory under the name of Pinhas Cohen there is a telephone number
(+972) 077-9357843, under the address 21 Tzemach Hasade, Ma'ale Adumim. We
called this number, but there is no reply, no voicemail.
In late 2010 we
visited subject's premises in 44 Hakongres Street, Tel Aviv. The place is a
warehouse packed with goods (as described above in BUSINESS). It is located in
the southern and old commercial district of Tel Aviv. There was no sign on the
door, and we saw one employee.
No other data
traced on subject's business.
Dealings are recommended on cash in advance basis only.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.32 |
|
UK Pound |
1 |
Rs.98.68 |
|
Euro |
1 |
Rs.78.11 |
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.