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Report Date : |
28.07.2014 |
IDENTIFICATION DETAILS
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Name : |
BENDA
PLAST INDUSTRIES LTD. |
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Formerly Known As : |
RAMA
FOOD PACKAGING ENTERPRISES LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
04.08.1983 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Manufacturers,
importers, exporters and marketers of disposable plastic tableware. |
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No. of Employees |
Not Available |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
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. 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 |
BENDA PLAST
INDUSTRIES LTD.
Telephone 972
4 696 22 01 /2 /3
Fax 972
4 696 22 07; 636 33 55
P.O. Box 90
Industrial Zone
KATZRIN 1290016 ISRAEL
A
private limited company, incorporated as per file No. 51-099474-2 on the
04.08.1983.
Originally
registered under the name RAMA FOOD PACKAGING ENTERPRISES LTD., which changed
to present name on the 19.04.2005.
Authorized
share capital NIS 1,000,000.00, divided into -
99,681,025
ordinary "A" shares, of NIS 0.01 each (92,940,000 shares issued),
3,189,750 ordinary "B" shares, of
NIS 0.001 each (31,915 shares iddued),
oOf
which shares amounting to NIS 929,431.915 were issued.
SEAGULF
N V, a foreign firm, 90%,
Leon
Segal, 10%.
BENDA
- PLAST LTD. is registered as the sole director in subject.
Note: According to our from 2013, ownership of BENDA - PLAST LTD. is:
Steven
Fruman, 92%, of the UK (could be the owner SEAGULF above),
Leon
Segal, 8%.
Alon
Segal.
Manufacturers,
importers, exporters and marketers of disposable plastic tableware.
Amongst
clientele are leading supermarket chains: SHUFERSAL, TIV TAAM (both are leading
supermarket chains), and others, as well as food companies (disposable products
with logos), etc..
Note:
both customers' names given to us in an interview back in 2009, we could not
confirm that for to-date).
Among
local suppliers: CARMEL OLEFINS, etc.
Operating
from rented premises, on an area of couple of thousands sq. meters, in the
Industrial Zone, Katzrin, located in the Golan Heights region, and from
facilities in the Northern Industrial Zone, Or Akiva.
In 2008 it was reported that as part of its expansion move,
subject signed an agreement to lease further 2 new buildings whose erection
completed in 2009 (owned by INDUSTRIAL BUILDINGS CORP.),
on an area of 900 sq. meters each, in the Industrial Zone, Katzrin.
According
to our, were known to have several tens of employees several years ago, exact
number not forthcoming.
Financial
data not forthcoming.
There
are 10 charges for unlimited amountd registered on the company's assets financial
assets, fixed assets and equipment), in favor of Bank Hapoalim Ltd. and The
First International Bank of Israel Ltd. (last 2 charges placed January-February 2012).
Sales
figures not forthcoming.
BENDA
- PLAST LTD., sister company, established 1989, non-active.
Bank
Hapoalim Ltd., Herzliya Business Branch (No. 174), Herzliya.
The First International Bank of Israel Ltd., Hadera Branch (No. 027),
Hadera.
Nothing
unfavourable learned.
Subject’s
officials refused to disclose financial and employee data.
This is a veteran business.
The local disposable table ware market has a volume estimated at NIS 250 million per annum.
The Society of Israel Plastic & Rubber Industry published data on the sector for 2011: The sector’s turnover (both local and for export) reached US$ 5,075 million. Sales breakdown: 30% of the Plastic & Rubber sector's sales are Household Products, 23% - Agriculture, 16% - Packaging, 9% - Building sector, 9% Industry, 5% Furniture, 4% - Compounds (rest is to other fields).
Sales for export by the Plastic and Rubber Industry in 2013 climbed by 7% from 2012 up to US$ 1,961 million, after it fell by some 3% in 2012 from 2011, returning to the growth trend in 2011 (by 15% from 2010).
According to the Central Bureau of Statistics, import of Plastic and Rubber raw material for the local industry in 2013 summed up to NIS 8,702.6 million, falling by 3.7% from 2012. In 2012 import rose by 6% from 2011, keeping the growth trend from 2010 and 2009, though in a well lower pace.
Investment in imported machinery and equipment by the Plastic & Rubber industries fell in 2013 by 20% from 2012, totaling NIS 383.5 million. This is after a decrease in 2012 by 4.5% from 2011, whereas investments rose in 2011 and in 2010.
Notwithstanding the
refusal to disclose financial and other business details, we consider the
company to be a reasonably fair trading partner. Yet, we recommend on certain
cautious and low exposure.
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.60.14 |
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|
1 |
Rs.102.22 |
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Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.