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Report Date : |
03.07.2014 |
IDENTIFICATION DETAILS
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Name : |
HEFETZ MOSHE
& SONS LTD. |
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Registered Office : |
P. O. Box 63 (6100001), 1 Hakishor Street,
Tel Aviv 6816711 |
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Country : |
Israel |
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Date of Incorporation : |
27.12.1992 |
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Com. Reg. No.: |
51-175470-7 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, importers
and marketers of Textile
Threads and Lines. |
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No of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Israel |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 |
HEFETZ
MOSHE & SONS LTD.
Telephone 972
3 517 30 25
Fax 972
3 517 29 64
P. O. Box 63 (6100001)
1
Hakishor Street
TEL AVIV 6816711 ISRAEL
A private limited company, incorporated as
per file No. 51-175470-7- on the 27.12.1992.
Authorized share capital NIS 2,640.00
divided into -
2,640
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00
were issued.
1. Moshe
Hefetz, 99%,
2. Mrs.
Dalia Hefetz, 1%.
Moshe Hefetz.
Traders importers and marketers of textile
threads and lines.
Operating from premises in 1 Hakishor
Street, Tel Aviv (to where subject moved from 4 Yehuda Halevi Street, Tel
Aviv).
Having 2 employees.
Financial data not forthcoming.
There are 4 charges for unlimited amounts
registered on the company's assets (financial assets and a vehicle) in favor of
Bank Leumi Le'Israel Ltd., Bank Hapoalim Ltd. and Mizrahi Tefahot Bank Ltd.
(last charge placed December 2013).
Sales data not forthcoming.
Bank Leumi Le'Israel Ltd., Kiryat Hamelach
Branch (No. 821), Tel Aviv, account No. 399700/36.
Bank Hapoalim Ltd., Harimon Branch (No. 500), Tel Aviv, account No.
365555.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m accounts.
Nothing unfavorable learned.
Subject's General Manager was willing to
disclose only general business information.
According
to Central Bureau of Statistics (CBS), import of fabrics and yarns in 2012 fell by
6.5% from 2011, and the negative continued in 2013, with 1.8% decrease from 2012,
summing up to US$ 651 million (though fall in local NIS terms was deeper – by
8.1%). This trend comes after couple of years which saw a rise in import – by 17% in 2010 and 2.1% in 2011 comparing to
the previous year, parallel to the general recovery in the local economy.
Chinese production comprises the largest
portion of imported textile goods followed by France, Italy, Hong Kong and
Turkey. The increase in imports emanates from the exposure to foreign markets
policy by the State.
Considering the refusal to disclose
financial data, dealings are recommended on secured basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.97 |
|
UK Pound |
1 |
Rs.102.89 |
|
Euro |
1 |
Rs.82.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
|
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 |
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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 |
|
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.