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Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
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Name : |
S.I.K TRADE (2010) LTD. |
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Registered Office : |
25 Hutzot Hayotzer
Southern Industrial Zone |
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Country : |
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Date of Incorporation : |
16.11.2010 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject operated as importers and marketers of home
textile (bedding ware, towels) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Ceased Business Operation |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
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 during the past two years 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 Tama field is expected to meet all of Israel''s natural gas demand beginning mid-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
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Source
: CIA |
S.I.K TRADE (2010) LTD.
Registered Address
25 Hutzot Hayotzer
Southern Industrial Zone
Ashkelon 7878548 Israel
A private limited company, incorporated as per file No. 51-452122-8 on the 16.11.2010.
We are informed by Yehezkel Kastenboim, subject's former General Manager, that subject ceased activities during 2012.
Note: According
to the Registrar of Companies, subject status is registered as
"Active" (which not necessarily reflects the actual status).
Authorized share capital NIS 10,000.00, divided into -
10,000 ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00 were issued.
1. Yehezkel Kastenboim, 50%,
2. Shlomo Kastenboim, 50%.
Yehezkel Kastenboim
Operated as importers and marketers of home textile (bedding ware, towels, etc.).
The telephone/fax numbers you provided (+972-8-671 76 04; 671 75 88; fax 972- 8-671 76 05) belong to sister company CARMIYA (KASTENBOIM) TEXTILE.
Operated from premises, owned by Yaakov Kastenboim, the father of shareholders (serving affiliated company CARMIYA), on an area of 4,000 sq. meters, in 25 Hutzot Hayotzer Street (and not 36 Hutzot Hayotzer Street), Southern Industrial Zone, Ashkelon. Premises serves CARMIYA (KASTENBOIM) TEXTILE.
Having no employees.
Financial data not forthcoming.
There are no charges for registered on the company's assets.
No commercial activity, no sales.
Other companies in KASTENBOIM Group:
YAAKOV KASTENBOIM & SONS, owned by Yaakov Kastenboim and subject's shareholders, established in 1980, manufacturers of pillows. Operating from Tel Aviv, 2010 sales claimed to be NIS 4 million.
CARMIYA (KASTENBOIM) TEXTILE LTD., owned by Yaakov Kastenboim, manufacturers and marketers of blankets, pillows and quilts products, 2011 sales claimed to be NIS 13 million.
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, namely not paying Registrar fees, and/or not submitting annual reports on time (in subject's case, we assume it is due to the 2nd mentioned reason, as according to the Registrar, subject did not submit annual reports to the Companies' Authority – however we could not establish this for certain). 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.
Yaakov Kastenboim and subject's shareholders are veterans in the quilts and pillows area.
In 2004 Yaakov Kestenboim acquired the activities of CARMIA QUILTS from Kibbutz Carmia, business activities originally founded in 1973, and established CARMIYA (KASTENBOIM) TEXTILE.
No dealings.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
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|
1 |
Rs.101.78 |
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Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
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 |
-- |
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.