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Report Date : |
13.03.2014 |
IDENTIFICATION DETAILS
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Name : |
S. FARKASH LTD. |
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Formerly Known As : |
S FARKASH MAZNEI GESHER LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
17.10.1958 |
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Com. Reg. No.: |
51-019049-9 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of marble and granite. |
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No. of Employees |
02
employees (including Haim Farkash) |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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. 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.
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Source : CIA |
S.
FARKASH LTD.
Telephone 972
3 642 70 52
Fax 972
3 642 32 96
14
Oppenheimer Street
TEL AVIV-6939514-ISRAEL
A private limited company, incorporated as
per file No. 51-019049-9 on the 17.10.1958.
Originally registered under the name S FARKASH
MAZNEI GESHER LTD., which changed to the present name on the 06.12.1979.
Authorized share capital NIS 200.00, divided
into -
100
preference shares (issued),
1,900
ordinary shares (100 shares issued), all of NIS 0.10 each,
of which shares amounting to NIS 20.00 were
issued.
1. Haim Farkash, 99% of preference shares and
1% of ordinary shares issued,
2. Mrs. Ruth Farkash, 1% of preference shares
and 99% of ordinary shares issued.
Haim Farkash, born 1929.
Importers and marketers of marble and
granite.
Operating from office premises, owned by
shareholders, in14 Oppenheimer Street, Tel Aviv.
Having 2 employees (including Haim Farkash).
Financial data not forthcoming.
Sales are according to orders (subject does
not hold a warehouse).
There is 1 charge for an unlimited amount registered on the company's
assets (fixed assets), in favor of Israel Discount Bank Ltd. (charge placed
1992).
2012 sales claimed to be NIS 500,000.
2013 sales claimed to be NIS 500,000.
Israel Discount Bank Ltd., Hakirya Branch
(No. 034), Tel Aviv.
Nothing unfavorable learned.
This is a long established business.
There are some 250 importers of ceramics and granite porcelain operating in
Israel, and the branch is highly competitive. Import of tiles in 2011 fell by
3% from 2010, and remained steady in 2012. In terms of sq. meters – to 27,155
thousand sq. meters (2012).
In 2011 some 35% of imported ceramic and porcelain goods were from Turkey
(down from 37% in 2010), 30.7% from China (in constant rise in recent years),
on account of the traditional suppliers from Spain (17.7%) and Italy (15%).
From the Central Bureau of Statistics data,
investments in construction for dwelling in 2012 reached NIS 56.1 billion
(which comprises 62% of total investment in construction), higher by 6% (in
real terms) from 2011. Construction for dwelling fell by 0.3% in 2013 (despite
the Government's efforts to increase investments). The fall in investment also
lead to a rise in houses prices.
Investments in construction not for dwelling (public institutions,
commerce, industry, etc.) and other construction works (e.g. roads, offices, industrial,
institutional), summed up to NIS 37 billion in 2012, a 2.5% rise from 2011.
Investments in infrastructures comprise 18% of total investments in
construction.
Private consumption expenditure by households in
2012 on Housing and on Housing Equipment grew by 3% and fell by 2.7% from 2011,
respectively, in annual calculation (grew by 2.8% and 20%, respectively, in
2011 from 2010).
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.61.09 |
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UK Pound |
1 |
Rs.101.59 |
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Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.