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Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
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Name : |
SLEEPCOSY |
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Registered Office : |
6 Bruchim Shmuel Street, Jerusalem 9530806 |
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Country : |
Israel |
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Date of Incorporation : |
2009 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importers and marketers of bed ware (sheets, blankets, pillow cases). |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small company |
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Payment Behaviour : |
Slow but correct |
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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 |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately 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 |
SLEEPCOSY
Telephone 972 2 579 59 10
Fax 972 2 579 59 10
Email: sleepcosy@gmail.com
6 Bruchim Shmuel Street
JERUSALEM 9530806 ISRAEL
A sole proprietorship, established in 2009.
Operating under Licensed Dealer No. 040698284.
The business is registered with the Tax Authorities’ Files under the
name of "KORNBLUT SIMA".
Ms. Sima Kornblut.
Ms. Sima Kornblut.
Importers and marketers of bed ware (sheets, blankets, pillow cases).
Also operating a retail store in which goods are sold.
Sales are to retail stores (50 stores) as well as private clientele.
Operating from rented office and warehouse premises, on an area of 50
sq. meters in 6 Bruchim Shmuel Street (and not 80 Bruchim Shmuel Street),
Jerusalem, from rented store premises on an area of 40 sq. meters in 23 Strauss
Street, Jerusalem, and from rented warehouse premises, on an area of 25 sq.
meters in Ora Village (near Jerusalem).
Having 4 employees.
Current stock is valued at NIS 500,000.
Other financial data not forthcoming.
2012 sales claimed to be NIS 1,000,000.
2013 sales claimed to be NIS 1,000,000.
2014 first 6 months sales claimed to be NIS 600,000.
Bank Hapoalim Ltd., Mea Shearim Branch (No. 533), Jerusalem.
Poalei Agudat Israel Bank Ltd., Ramat Beit Shemesh Branch (No. 179),
Beit Shemesh.
Nothing unfavorable learned.
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% in 2010. Expenditure on clothing, footwear
and personal effects rose by 7.2% (after 2.4% 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 increased by 0.9% (1.9% rise in 2011).
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 and tobacco and 4.5% expenditure on clothing, footwear and personal effects.
According to CBS, import of consumer goods in 2013 marked a
2.2% increase continuing the rise of 1.9% in 2012 and 9.8% in 2011. Most of the
rise was in durable goods (4.1%), which comprising some 40% of the import
volume, while import in durable goods rose by mere 0.9% from 2012. Main rise
derived from import of Household Utensils in 2013 which rose by 2.5% from 2012,
summing up to NIS 2,546 million (in NIS terms, 9.5% in $ terms), after 1.7% in
2012.
The local household products market is considered highly competitive
after reaching market saturation. It includes household textile, tableware and
kitchenware and utensils, bath accessories and ornaments &decorative items,
ceramic and glass ware, etc. According to estimations, the local household
products market volume reaches NIS 2.5 – 3 billons annually (of which circa NIS
1 billion for “home textile”), and includes retail, wholesale, institutional
markets (Retail chains capture 30% of the market share, specialization stores
20%, while the institutional and workers unions sector has 50% share).
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.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NNA |
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.