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Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
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Name : |
WEINGARTEN HAMAVRISH LTD. |
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Registered Office : |
P.O. Box 7768, 6 Gonen
Street, Kiryat Matalon Industrial Zone, Petach Tikva 4925905 |
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Country : |
Israel |
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Date of Incorporation : |
1939 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
·
Importers
and marketers of products for the DIY field. ·
Also
marketers of paint brushes, brooms and accessories manufactured by sister
company, H.Y.O. INDUSTRIES LTD. |
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No. of Employees : |
20 |
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 (30.06.2013) |
Current Rating (30.09.2013) |
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Israel |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
WEINGARTEN HAMAVRISH LTD.
Telephone 972 3 922 03 92; 923 14 17
Fax 972 3 923 18 07
P.O. Box 7768
6 Gonen Street
Kiryat Matalon Industrial Zone
PETACH TIKVA 4925905 ISRAEL
Originally established as a
non-registered business in 1939.
Converted into a private limited
company and registered as such as per file No. 51-065818-0 on the 13.08.1973.
Authorized share capital NIS
2,161.00, divided into: -
1
redeemable preference share,
60
management shares,
2,100
ordinary shares, all of NIS 1.00 each,
fully issued.
1. Ms. Ester Weingarten,
33.33%, as well as1 redeemable preference share,
2. Yair Weingarten, 33.33%,
3. Haim Weingarten, 33.33%.
1. Yair Weingarten, Joint
General Manager,
2. Ofer Weingarten, Joint
General Manager,
2. Haim Weingarten.
Importers and marketers of
products for the DIY field.
Also marketers of paint
brushes, brooms and accessories manufactured by sister company, H.Y.O.
INDUSTRIES LTD.
Note: Subject’s and sister H.Y.O. activities are interweined.
Very small portion of sales are
for export.
Amongst clients: HOME CENTER
(largest local DIY and consumer goods chain), Ministry of Defense, HYPER
ROSENFELD, local municipalities
Among local suppliers
(including for H.Y.O.): BEN AMI PLASTIC, RAPKO DETERGENT INDUSTRIES, KOL GUMI,
M.A. MANUFACTURING & IMPORT OF RAGS, etc.
Operating from premises, owned
by the shareholders, on an area of 2,000 sq. metres in 6 Gonen Street, Ramat
Siv, Kiryat Matalon Industrial Zone, Petach Tikva. Premises serve the Group.
Having 20 employees serving
subject’s and sister H.Y.O. (had 30 employees in the
beginning of 2013).
Yair Weingarten, subject's
Joint General Manager informed us that Group has decresed its employee number
as well as sales volume for business reasons.
MEANS
Consolidated stock (subject and
sister H.Y.O.) is valued at NIS 1,800,000 (was valued at NIS 2,000,000 in the
beginnign of 2013, NIS 3,000,000 in mid 2011).
Property owned by the
shareholders in 6 Gonen Street, Kiryat Matalon Industrial Zone, Petach Tikva is
valued US$ 1,500,000.
There are 13 charges for
unlimited amounts registered on the company's assets (financial and fixed
assets), in favor of Bank Leumi Le’Israel (last charge placed on a vehicle in
May 2010, prior charge placed in 2004).
REVENUES
Consolidated sales (subject and
sister H.Y.O.):
2007 sales claimed to be NIS
16,500,000.
2008 sales claimed to be NIS
15,000,000.
2009 sales claimed to be NIS
15,000,000.
2010 sales claimed to be NIS
15,000,000.
2011 sales claimed to be NIS
13,000,000.
2012 sales claimed to be NIS
13,000,000.
2013 sales claimed to be NIS
11,000,000.
OTHER COMPANIES
H.Y.O. INDUSTRIES LTD.,
established 1985, owned by subject’s shareholders, manufacturers of paint
brushes, brooms
Bank Leumi Le’Israel Ltd.,
Kiryat Arie Business Branch (No. 670), Petach Tikva, account No. 18500/01.
A check with the Central Banks' database did not reveal negative
information on subject’s a/m bank account.
Nothing unfavourable learned.
Subject is a long established
family company. Group’s business activities known to be stable along the years.
Good for trade engagements.
Note: Since February 2013 Israel Post has started using a new area code
method of 7 digits (the old method of 5 digits is no longer valid).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.59 |
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|
1 |
Rs.101.09 |
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Euro |
1 |
Rs.83.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.