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Report Date : |
01.10.2014 |
IDENTIFICATION DETAILS
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Name : |
DOMA MARKETING FOR BUILDING & TRADING (1996) LTD. |
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Registered Office : |
24 Ha’amal Street, Afek Industrial Zone, Rosh Ha’ayin, 4809267 |
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Country : |
Israel |
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Date of Incorporation : |
25.12.1996 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, traders and marketers of materials for industrialized
building branch and providers of engineering services for the construction
field. |
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No. of Employees : |
35 - 40 employees |
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
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source
: CIA |
DOMA MARKETING FOR
BUILDING & TRADING (1996) LTD.
Telephone 972 3 902 60 67 /8
Fax 972 3 902 60 66
P.O. Box 11400
24 Ha’amal
Street
Afek
Industrial Zone
ROSH HA’AYIN, 4809267,
Israel
A private limited company,
incorporated as per file No. 51-241621-5 on the 25.12.1996.
Subject is
continuing part of business activities originally founded in 1978 by Eng.
Victor Steinberg (husband of Mrs. Henrietta Steinberg and father of Dror and
Michael), also via private limited company VICTOR STEINBERG ENGINEERS LTD.
Authorized share
capital NIS 200.00, divided into -
200 ordinary shares of NIS 1.00 each, fully
issued.
1. Mrs. Henrietta Steinberg,
60%,
2. Michael Steinberg, 20%,
3. Dror Steinberg, 20%.
1. Dror Steinberg, co-General
Manager,
2. Michael Steinberg, co-General
Manager,
3. Mrs. Henrietta Steinberg,
mother of Dror and Michael.
Importers, traders and marketers of
materials for industrialized building branch and providers of engineering
services for the construction field.
Among clients are
the local leading contracting firms, namely U. DORI CONSTRUCTION, SOLEL BONEH,
DANYA CEBUS, A. ARENSON.
50% of purchasing is from import and 50% from local suppliers.
Amongst local suppliers: HOD ASSAF INDUSTRIES.
Sole local
representatives of:
SEIFERT, PFEIFER,
JORDAHL, HALSEN, all of Germany,
C.S. GROUP, of the
U.S.A.,
ERICO, DEMU, both
of Holland,
ANCON, MACALLOY, HAZ METAL, all of the U.K.
HAZ METAL, of
Turkey.
Operating from
rented premises (offices and warehouse), on an area of 1,200 sq. meters, in 24
Ha’amal Street, Afek Industrial Zone, Rosh Ha’ayin, and from rented storage
facility, on an area of 500 sq. meters, in Hagor, a nearby village.
Having 35 – 40 employees (had 30 employees
in 2012 and in 2011).
Financial data not forthcoming.
There are 5 charges for unlimited amount, as
well as 3 charges for the total sum of NIS 533,101.00 registered on the
company’s assets (financial assets and vehicles), in favor of Mizrahi Tefahot
Bank Ltd., Bank Hapoalim Ltd. and Union Bank of Israel Ltd. (last 2 charges
placed in August and September 2012 on bank deposits and vehicles).
Sales figures not forthcoming.
Also part of the DOMA STEINBERG ENGINEERS Group owned by the Steinberg
Family:
VICTOR STEINBERG ENGINEERS LTD., incorporated 1989 continuing business
activities which started in 1984, building engineering.
DOMA BUILDING & FACADES CO. LTD., incorporated
1992, inactive.
Bank Hapoalim Ltd., Einstein Branch (No.
778), Tel Aviv, account No. 377288.
A check with the Central Banks' database did not
reveal any negative information regarding subject's a/m account.
Nothing unfavorable learned.
Subject’s officials refused to disclose financial details.
Founder of subject, Eng. Victor Steinberg, a Building Engineer, is head
of the committee (for the Standards Institution of Israel) of natural stone
cladded walls: walls cladded using the wet fixing method.
Before establishing his own business VICTOR STEINBERG ENGINEERS LTD. in
1984, Mr. Steinberg worked for 13 years in RASSCO, a veteran well known
contracting firm in Israel.
DOMA STEINBERG ENGINEERS Group enjoys good reputation in the local
market.
From the Central
Bureau of Statistics (CBS) 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.
The building sector indicators showed an
improvement in activities in 2013, after ambiguous signs shown in the previous
several years. Volume of building starts for dwelling (which is a dominant
indicator for the trend in the building sector) in 2013 reached 44,340, a 3.4%
increase comparing to 2012, a year in which a 13% decrease from 2011 was noted.
The decline in 2012 came after a growth trend in building starts in the
previous couple of years (9% in 2011 and 7% rise in 2009). In 2013 there was
also 11.8% increase in apartments whose construction was finished (41,970
apartments).
Government efforts to increase the supply side also witnessed in the
double-digit rise in number of plots being marketed and sharp rise in planning
volumes.
Yet, since the beginning of 2014, the
building and real estate market has been showing cooling down signs and
stand-still, due to a planned government reform of relieves in taxes for
purchasing a new apartment (which will drive prices downwards), but the plan
still awaits legislation and implementation, therefore many potential buyers
are in stand-by. The negative trend is reflected in the numbers of building
starts in the 1st half of 2014, which dropped 10.8% comparing to the
parallel period in 2013. A 7% decrease was also noted in the number of
apartment whose building has been completed, and in the number of dwellings
transactions, where a sharp decrease is seen.
Notwithstanding the refusal to disclose
financial data, considered good for trade engagement.
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).
This report is
furnished to you in strict confidence for your EXCLUSIVE use. The correctness of
same is not guaranteed, but it has been obtained in good faith from sources
deemed reliable as of this date.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
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1 |
Rs.100.28 |
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Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.