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Report Date : |
24.07.2014 |
IDENTIFICATION DETAILS
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Name : |
TIBULIM RAM LTD. |
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Registered Office : |
Mobile Post Kfar Hamaccabi Ramat Yohanan 3003500 |
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Country : |
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Date of Incorporation : |
26.01.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Growers, processors,
manufacturers, importers, exporters and marketers spices, seasoning mix,
herbal infusions, natural and health products |
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No. of Employees |
30 |
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 : |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
TIBULIM RAM LTD.
Telephone 972 4 845 91 35
Fax 972 4 845 91 44
Email: costumer@tibulim.com
Mobile Post Kfar Hamaccabi
RAMAT YOHANAN 3003500 ISRAEL
A private limited company, incorporated as per file No. 51-364471-6 on the 26.01.2005.
Subject was established in view of continuing the business activities of TIBULIM LTD., originally founded some 50 years earlier (incorporated 1990) in Moshav Beit Lehem Haglilit, after the joining of Kibbutz Ramat Yohanan.
Authorized share
capital NIS 10,000.00, divided into -
10,000 ordinary shares of NIS 1.00 each,
fully issued.
Subject is fully owned by Kibbutz Ramat Yohanan (through RAMAT YOHANAN INDUSTRY & AGRICULTURE DEVELOPMENT - ACS LTD.), a cooperative society, operating a communal agricultural settlement.
In August 2013 Kibbutz Ramat Yohanan reached full ownership after acquiring the 49% which were owned by Mr. Ilan Zitershpiler.
According to the
Registrar of Companies:
1. Haim Kersh,
2. Gilad Avihu,
3. Oz Elnir.
We are informed that
in practice, subject's Directors are (following ownership change):
1. Avner Ahituv, Chairman,
2. Haim Kersh,
3. Dani Elioffe,
4. Oren Tahar-Lev.
Oz Elnir
Growers, processors,
manufacturers, importers, exporters and marketers spices, seasoning mix, herbal
infusions, natural and health products, as well as food additives for industry.
Some sales are for
export (were 15% in 2009, mainly to Germany, current export rate not
forthcoming).
Products are sold as
raw materials for the food industries and as finished products to wholesalers
and institutional markets in Israel and abroad.
Among local clients
are leading food industries, e.g. TNUVA, OSEM, STRAUSS GROUP.
Sole local
representatives and distributors of SYMRISE, of Germany.
Among service
suppliers: FOODBIZ, MAXSOFT.
Operating from
premises (offices, land and plant), on an area of 3,000 sq. meters, in Kibbutz
Ramat Yohanan (land is owned by the Kibbutz), as well as growing land in
Yezreel Valley.
Having 30 employees (had 30 employees in the beginning of 2013, similar to 2011 and 2010).
Financial data not
forthcoming.
There are 6 charges for unlimited amounts, as well as 1 charge for the sum of NIS 150,000 registered on the company's assets (financial assets, fixed assets, machinery and vehicles), in favor of Israel Discount Bank Ltd., Bank Leumi Le’Israel Ltd. and a leasing company (last charge placed November 2012).
According to our
sources, 2008 sales were circa NIS 8,000,000.
Later sales figures
not forthcoming.
PILPEL - FOOD
INDUSTRIES DEVELOPMENT LTD., 100%, a subsidiary, dealing in raw materials for
the food industries.
Kibbutz Ramat Yohanan
also controls:
PALRAM INDUSTRIES (1990) LTD., 73.35%, a publicly traded company (Tel Aviv Stock Exchange), manufacturers, exporters and marketers of thermo-plastic rigid sheets and technical components of PC, PVC and other polymers for construction, industry, advertising, DIY and agriculture sectors. Total B/S (31.03.2014) NIS 1,059 million, 2013sales were NIS 1,110 million. Current market value US$ 102.5 million. Main subsidiaries:
PALTOUGH INDUSTRIES (1998) LTD., 75% (and 25% are held by BAYER concern of Germany), manufacturers and marketers of polycarbonate & acrylic plastic boards, holding 100% of:
PALTOUGH INDUSTRIES (1998) LTD., 75% (and 25% are held by BAYER concern of Germany), manufacturers and marketers of polycarbonate & acrylic plastic boards, holding 100% of: PALRAM GERMANY GMBH, Germany,
PALRAM SHANGHAI LTD., SHANGHAI HUILI TUVGAL LTD. (25%), China, PALRAM POLYCARB LTD. (UK) and PALRAM 2000 INC. (USA).
PALRAM APPLICATIONS (1995) LTD., manufactures, exporters, marketers of finished and complementary products based on P.V.C and thermo-plastic goods.
PALRAM P.V.C. LTD., manufactures, exporters and marketers of P.V.C. thermo-plastic rigid sheets., holds 100% of PALMAR (PALRAM MARKETING) LTD., U.K., marketing company, PALRAM DPL LTD., U.K., operating a plant in the U.K in the PVC line, PALRAM PANELS INC., USA, operating a plant in the U.K in the PVC line.
GADASH RE'EM, an agricultural partnership of Kibbutz Ramat Yahanan with Kibbutz Usha and Kibbutz Kfar Hamaccabi, cultivating 9,700 sq. meters of field crops and arable crops.
TRACTORAM, 100%,
importers and marketers of agricultural machinery.
Bank Leumi Le'Israel Ltd., Haifa Main Branch (No. 876), Haifa.
Nothing unfavorable
learned.
Mr. Oz Elnir, General Manager, refused to disclose financial
data.
Subject is ISO
9001:2000 and HACCP certified.
Kibbutz Ramat Yohanan
was founded in 1931. It has some 350 members, out of population of 800. The Kibbutz
also cultivates a large area of agricultural land, including fruit orchards and
plantations, field crops, operates dairy farming, poultry etc.
PALRAM Group is
well-known and veteran manufacturer of thermoplastic sheets, considered among the world’s 5 leading manufacturers of polycarbonate
plastic boards.
In August 2009 subject
started a joint venture of store in store with MEGA RETAIL.
The spices growing branch is considered the highest growing agricultural export branch in Israel in recent years. Exports of grown spices reached €73 million in 2006. The volume of demand in the local market for grown spices was expected to reach NIS 40 million in 2006.
There are some 30,000 spices plants grown in Israel on total area of 50,000 sq. meters, according to the Plants Council.
Notwithstanding the
refusal to disclose financial data, considered 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.18 |
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1 |
Rs.102.68 |
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Euro |
1 |
Rs.81.03 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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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 |
-- |
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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.