|
Report Date : |
07.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
OROM COLORANTS LTD. |
|
|
|
|
Registered Office : |
P.O. Box 1041 29 Ha’avoda Street Industrial Zone
Rosh Haayin 4801779 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
21.11.1999 |
|
|
|
|
Legal Form : |
Private Limited
Company |
|
|
|
|
Line of Business : |
Importers and marketers
of raw materials, chemicals and equipment for the paint and other industries. |
|
|
|
|
No. of Employees |
12 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 |
|
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 |
OROM COLORANTS LTD.
Telephone 972 3 938 45 77
Fax 972 3 938 24 37
Email: main@orom.co.il
P.O. Box 1041
29 Ha’avoda Street
Industrial Zone
Rosh Haayin 4801779 Israel
Originally established
in 1993 as a department in ELI GAL INTERNATIONAL IMPORT 1993 LTD. (founded in
1950 and incorporated in 1993).
Converted into a private
limited company and registered as such as per file
No. 51-285720-2 on the
21.11.1999.
Authorized share
capital NIS 14,000.00, divided into -
14,000 ordinary shares of NIS 1.00 each,
of which 100 shares
amounting to NIS 100.00 were issued.
Subject is fully owned
by Itay Gal.
Itay Gal, born in
1975.
Importers and
marketers of raw materials, chemicals and equipment for the paint and other
industries.
90% of purchase is
from import.
Sole local
representatives of (main ones):
MUNZING, of Germany,
CATHAY, TROY, both of
the USA,
FAST FLUID, of
Holland,
SWANCOR, of Taiwan,
I.Q.E, of Spain.
Amongst clients:
TAMBOUR, NIRLAT, PAZKAR, BITUM, etc.
Operating from rented
premises, on an area of 3,500 sq. meters, in 29 Ha’avoda Street, Industrial
Zone, Rosh Haayin (to where they moved from 46 Amal Street, Petach Tikva few
years ago.
Having 12 employees
(had 11 employees in 2013, same as in 2011).
Current stock is
valued at NIS 5,000,000 (similar to mid 2013, was valued at NIS 4,000,000 in
mid 2011).
Data from subject’s
B/S provided by its officials, as for 31.12.2009 (last obtainable):
Total assets: NIS 19,404,624
Equity: NIS
4,695,000
There are 10 charges
for unlimited amounts registered on the company's assets (financial assets,
fixed assets, vehicles/forklift), in favor of Bank Leumi Le'Israel Ltd. and
Mizrahi Tefahot Bank Ltd. (last 2 charges placed January 2014 and September
2013, both on vehicles, prior charges placed 2010 and before).
2008 sales claimed to
be NIS 37,000,000.
2009 sales claimed to
be NIS 38,000,000.
2010 sales claimed to
be NIS 40,000,000.
2011 sales claimed to
be NIS 40,000,000.
2012 sales claimed to
be NIS 40,000,000.
2013 sales claimed to
be NIS 40,000,000.
We are informed that
2014 sales pace is the same as in 2013 for the parallel period.
CHEMITROX, 100%,
Serbia, operating in the same line as subject.
ELI GAL INTERNATIONAL IMPORT
1993 LTD., fully owned by Gal Family, agents in the same line of activities as
subject, operating from subject’s premises.
ELI GAL ASSETS LTD.
Bank Leumi Le'Israel
Ltd., Ayalon Business Branch (No. 693), Lod, account
No. 50700/67.
Mizrahi Tefahot Bank
Ltd., Gan Ha’ir Branch (No. 421), Tel Aviv, account
No. 611116.
A check with the
Central Banks' database did not reveal any negative information regarding
subject's a/m accounts.
Nothing unfavorable
learnt.
Subject is a veteran
business.
According to the Central Bureau of Statistics, import of chemical raw materials for the local industries in 2013 plunged 15% from the previous year, reaching NIS 16,759 million (in $ terms fall was less: 9%). That represents a reverse in trend after in 2012 import increased by 21% from 2011 (in NIS currency terms), and over 10% rise in each of the years 2011 and 2010, as the markets recovered from the crisis in 2009.
Good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.20 |
|
|
1 |
Rs.99.52 |
|
Euro |
1 |
Rs.80.83 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.