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Report Date : |
29.07.2014 |
IDENTIFICATION DETAILS
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Name : |
ZAHAVI STEEL LTD. |
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Formerly Known As : |
Y. ZAHAVI & CO. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1936 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
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Manufacturers and markers of metal springs, dies,
disks and other various metal products. ·
Import is of raw materials. |
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No. of Employees |
30 |
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 – June 1, 2014
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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 |
ZAHAVI STEEL LTD.
Telephone 972
3 683 72 31
Fax 972
3 683 74 84
Email: i_zahavi@zahav.net.il
37 Abulafia Street
TEL AVIV 6655009 ISRAEL
Originally established as a sole proprietorship in 1936 under the name
Y. ZAHAVI & CO.
Converted into a private limited company and registered as such as per file
No. 51-402294-6 on the 08.08.2007.
Authorized share capital NIS 50,000.00, divided into -
50,000 ordinary shares
of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00 were issued.
Subject is fully owned by Yitzhak Shadar.
Yitzhak Shadar, born 1930.
Moshe Shadar, son of Yitzhak Shadar.
Manufacturers and markers of metal springs, dies, disks and other
various metal products.
Import is of raw materials.
Among clientele: Ministry of Defense, ELBIT SYSTEMS, ISRAEL MILITARY
INDUSTRIES, and more.
Among local suppliers: SCOPE METALS, ISKOOR METALS AND STEELS, PACKER
YADPAZ.
Operating from rented premises, on an area of 900 sq. meters, in 37
Abulafia Street, Tel Aviv.
Having 30 employees.
Current stock is valued at NIS 400,000.
Other financial data not forthcoming.
There is 1 charge for an unlimited registered on the company's assets
(financial assets), in favor of Bank Leumi Le'Israel Ltd. (charge placed 2007).
2012 sales claimed to be NIS 7,000,000.
2013 sales claimed to be NIS 7,000,000.
Sales for the first 6 months of 2014 claimed to be NIS 3,500,000.
Bank Leumi Le'Israel Ltd., Florentine Branch (No. 805), Tel Aviv.
Nothing unfavorable learned.
This is a very veteran business.
According to data by of the Metal, Electrical and
Infrastructure Industries Association, representing the local Metal and
Electricity Industries, which includes large scale export-oriented industries
on one hand and family-owned plants which sell to the local market: 2010 sales
(local and export) by the said industries amounted to NIS 70 billion,
comprising 25% of Israel's industrial output. Sales for export reached US$ 10 billion in
2010.
Some 90,000 employees serve the said industries (26% of Israel's
industrial workforce).
The Central Bureau of Statistics (CBS) data on import of metals raw materials to
the local industries: Import of Iron and Steel in 2013 kept the negative trend
from 2012 after a remarkable recovery in the years 2010 and 2011 from 2009 with
decreased by 2.3% reaching US$ 2,127 million (fell 11.5% in 2012, after rising
by over 30% per year in 2010 and in 2011); On the other hand, import of
Precious Metals rose by 7.3% in 2013 to US$ 157 million (fell 13% in 2012 after
rising by 2% in 2011 and 22.5% in 2010), and import of Non-ferrous Metals
increased by 6% to US$ 850 million (after a 13% fall in 2012 and rise by 20% in
2011 and by 41% in 2010).
Central Bureau of Statistics (CBS) data reveals that investments by the
local manufacturing industries in machinery & equipment (M&E) in 2013
fell by 12% from 2012, after a decrease by 3% in 2012. Investments whose source
was from import, which comprised 62% of total investment by the industries in
M&E, fell by 21.5%, while investments whose source was from local
manufacturing rose by 11.5% in 2013.
Gross Domestic Capital Formation (investment) in machinery &
other equipment in 2012 reached (in
current prices) NIS 47,540 million, of which NIS 33,336 million was from
imports and NIS 14,204 miilion from domestic production.
Good for trade engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.10 |
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UK Pound |
1 |
Rs.102.04 |
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Euro |
1 |
Rs.80.74 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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Report Prepared
by : |
SDA |
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.