|
Report Date : |
10.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
M M S ELECTRICITY LTD. |
|
|
|
|
Registered Office : |
P.O. Box 10090 (2611002), 7 Hamasger Street, Haifa Bay Industrial Zone, Haifa 2629015 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Year of Establishments: |
1970 |
|
|
|
|
Com. Reg. No.: |
51-206737-2 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importers, traders and marketers of
electrical supplies and products for the industry and construction fields
(street lights products, electrical panels, grounding products, shrinkable
tubing, shrinkable joints for cable & terminals.). |
|
|
|
|
No. of Employees |
10 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
israEl ECONOMIC OVERVIEW
Israel has a technologically advanced market economy. Its major imports
include crude oil, grains, raw materials, and military equipment. Cut diamonds,
high-technology equipment, and pharmaceuticals are among the leading exports.
Israel usually posts sizable trade deficits, which are covered by tourism and
other service exports, as well as significant foreign investment inflows. 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. The economy has recovered better
than most advanced, comparably sized economies. 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. Natural gasfields discovered off Israel's coast during
the past two years have brightened Israel''s energy security outlook. The
Leviathan field was one of the world''s largest offshore natural gas finds this
past decade, and production from the Tama field is expected to meet all of
Israel''s natural gas demand beginning mid-2013. In mid-2011, public protests
arose around income inequality and rising housing and commodity prices. 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.
|
Source : CIA |
M
M S ELECTRICITY LTD.
Telephone 972
4 872 11 24; 842 05 50
Fax 972
4 872 23 31
972
72 212 87 87
Email: info@m-m-s.co.il
P.O.
Box 10090 (2611002)
7
Hamasger Street
Haifa
Bay Industrial Zone
HAIFA 2629015 ISRAEL
Originally established in 1970 as a non registered
business by the father of current shareholders.
Converted into a private limited company and
registered as such as per file No.
51-206737-2 on the 19.12.1994.
Authorized share capital NIS 23,800.00,
divided into -
23,800
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00
were issued.
1. Hanan
Brodezki, 50%,
2. Ilan
Brodezki, 50%.
1. Hanan
Brodezki,
2. Ilan
Brodezki.
Importers, traders and marketers of
electrical supplies and products for the industry and construction fields
(street lights products, electrical panels, grounding products, shrinkable
tubing, shrinkable joints for cable & terminals.).
Sales are to electrical wholesalers, panels'
manufacturers, industrial companies, street lighting, local authorities,
infrastructure and electricity contractors, engineers, electricians and private
customers.
Among clientele: ISRAEL ELECTRIC CORP.,
BEZEQ THE TELECOMMUNICATIONS CO., OIL REFINERIES, and more.
60% of purchase is import.
Among local suppliers: KATZENSTEIN ADLER,
NISKO, DUCHOVNI CABLES, and more.
Sole local representatives of:
ELMEX, of Germany,
TONGUN, of Turkey,
GALA, of India.
Operating from premises, owned by
shareholders, on an area of 1,200 sq. meters, in 7 Hamasger Street, Haifa Bay
Industrial Zone, Haifa.
Having 10 employees.
Current stock is valued at NIS 2,000,000.
Other financial data not forthcoming.
There are 4 charges for unlimited amounts, as well as a charge for the
sum of NIS 200,000 registered on the company's assets (financial assets and
vehicles), in favor of Bank Hapoalim Ltd. (last charge placed November 2013 on
a truck).
2012 sales claimed to be NIS 10,000,000.
2013 sales claimed to be NIS 10,000,000.
Bank Hapoalim Ltd., Hamifratz Branch (No.
791), Haifa.
Nothing unfavorable learned.
Subject is a veteran business.
Subject's products hold high quality
approvals.
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).
Central Bureau of Statistics data reveals
that investments by the local manufacturing industries -both from import and
domestic production- in machinery & equipment (M&E) in 2012 fell by 1%,
which comes after 41% rise in 2011. The investments originating from import,
which comprised 70% of overall investment in M&E, fell 3.8% (after 69% rise
in 2011), while investment originating from local production rose by 6.2% in
2012 (fell 5.3% in 2011).
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.
According to CBS,
investments by the local industrial branch in imported machinery and other
equipment in 2012 witnessed almost 20% (in current prices) decrease from 2011,
after climbing by 108% in 2011 from 2010. The fall in 2012 in investment could
be explained by the continuing unfavorable business environment, which is also
negatively affected by the slow-down in overseas markets.
Good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.99 |
|
UK Pound |
1 |
Rs.102.07 |
|
Euro |
1 |
Rs.84.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.