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Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
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Name : |
MIAL IMPEX 1986 LTD. |
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Registered Office : |
25 Lazarov Street
New Industrial Zone Rishon Le-Zion 7565431 |
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Country : |
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Date of Incorporation : |
11.11.1976 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, exporters
and marketers of dried fruits, legumes and pulses. |
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No. of Employees : |
22 |
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) |
|
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 |
MIAL IMPEX 1986 LTD.
Telephone 972 3 941 60 10
Fax 972 3 941 60 20
Email: info@mialimpex.com
25 Lazarov Street
New Industrial Zone
RISHON LE-ZION 7565431 ISRAEL
Originally incorporated
as a private limited company under the name of MIAL LTD., in 1976.
Following changes in the nature of business, activities were taken over by
subject, which incorporated as a private limited company as per file
No. 51-115017-9 on the 11.11.1986.
Authorized share
capital NIS 82,640.00, divided into -
82,640 ordinary shares
of NIS 1.00 each,
of which 42,700 shares
amounting to NIS 42,700.00 were issued.
1. Haim (Vitali) Levy, 33.33%,
2. Shmuel Levy, 33.33%,
3. Joseph Karako –Yagil, 33.33%.
According to the
Registrar of Companies subject itself holds 23% of the shares, equally divided
between a/m shareholders.
Haim Levy, General
Manager,
Shmuel Levy,
Joseph Karako –Yagil.
Importers, exporters
and marketers of dried fruits, legumes and pulses.
30% of sales are
exports.
Selling dates under
brand name "Bat Sheva Dates".
Among local clientele:
SAMARA FOOD MARKETING, many wholesalers.
70% of purchase is
from import.
Amongst local
suppliers: NETA AGRICULTURAL SOCIETY, SASSON & CO.
Operating from
premises (offices and a warehouse), on an area of 1,000 sq. meters, owned by
the shareholders, in 25 Lazarov Street, New Industrial Zone, Rishon-Le-Zion and
from a rented retail store, on an area of 100 sq. meters, in 19, Hachalutzim
Street, Tel Aviv.
Having 22 employees
(same as in the last years).
Current stock is
valued at NIS 20,000,000 (similar to the several previous years).
Property in Rishon
Le-Zion where subject is operating from (owned by the shareholders) is valued
at US$ 3,000,000.
There are 17 charges for unlimited amounts and 4 charges for the total sum
of
NIS 777,080.00 registered on the company's assets (financial assets, equipment
and vehicles), in favor of The State of Israel, Bank Leumi Le'Israel
Ltd., Israel Discount Bank Ltd., Bank Hapoalim Ltd. and leasing companies (last 4 charge placed 2 in December 2012 on vehicles,
and 2 in July and in December 2013 on financial assets).
2009 sales claimed to
be NIS 90,000,000, 30% for export.
2010 sales claimed to
be NIS 90,000,000, 30% for export.
2011 sales claimed to
be NIS 90,000,000, 30% for export.
2012 sales claimed to
be NIS 90,000,000, 30% for export.
2013 sales claimed to
be NIS 100,000,000, 30% for export.
Bank Leumi Le'Israel Ltd., Allenby Business Branch (No. 802), Tel Aviv,
account No. 653500/87.
Bank Hapoalim Ltd., Ha'aliya Branch (No. 503), Tel Aviv, account No. 174017.
Israel Discount Bank Ltd., Tel Aviv Main Branch (No. 010), Tel Aviv, account
No. 186619.
A check with the
Central Banks' database did not reveal any negative information regarding
subject's a/m accounts.
Nothing unfavorable
learned.
Subject is a long
established business.
Company is ISO
9001:2000 certified.
In the past suppliers
reported favorably on subject's payment morality.
According to survey
from 2013, the local food market, manufacturing, import and trade, rolls NIS 80
billion per annum. There are some 1,700 food plants in Israel (some also
import) and hundreds of importers in the food, beverage and consumer products,
supplying raw materials and finished goods to the food market.
After several years of constant growth, the consumer products market, which includes food, beverages and household and personal care goods, ended 2012 with fixation and even decrease in sales, according to Nilsen Market Research. In money terms, the market grew by mere 0.7%, lest than the population growth rate (2% per annum). Sales of food in 2012 grew by 1.1%, reaching NIS 29.8 billion, while in the beverage market sales fell by 2% to NIS 5.1 billion.
Sales for exports by
the food & beverages industries grew by 1.5% in 2013 from 2012, with sales
reaching US$ 1,072.5 million (in $ terms, though fell 5% in NIS terms), after
remaining stagnant in 2012 and 17% rise in export in 2011.
According to Central Bureau of Statistics (CBS), import of food and beverages to Israel in 2013 reached NIS 6,946 million, rising by mere 0.7% (in NIS terms, 7.4% rise in $ terms), continuing the upward growth trend from 2012 (14% rise), 2011 and 2010.
From the CBS National Accounts for 2012, it turns that expenditure by local households on private consumption grew by 2.7% from 2011, after rising by 3.8% from 2010. Expenditure on food, beverage & tobacco increased by 3.4% (after 4% rise in 2011). Expenditure on private consumption continued to grow in 2013: it rose by 5.6% in 3rdQ 2013, after a 6.2% increase in the 2ndQ 2013.
Per capita expenditure for private consumption on non-durable goods rose in 2012 by 1.4% per-capita (1.3% rise in 2011). This rise reflects increases by 1.3% in expenditure on food, beverage & tobacco and 4.5% expenditure on clothing, footwear and personal effects.
Good for trade
engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.99 |
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|
1 |
Rs.104.61 |
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Euro |
1 |
Rs.86.17 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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.