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Report Date : |
08.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
REPHAEL REUBEN ASHKIN |
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|
|
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Registered Office : |
P.O. Box 3548, Beer
Sheva 8413501 |
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Country : |
Israel |
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Year of Establishment : |
2011 |
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|
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importers and Marketers of Foodstuffs (Rice) |
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No. of Employees : |
NIL |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow but correct |
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|
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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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
REPHAEL REUBEN ASHKIN
Telephone 972 50 599 95 98 (mobile)
Fax 972 77 282 26 96
Email: ashkininternational@yahoo.com
P.O. Box 3548
BEER SHEVA 8413501
ISRAEL
A sole
proprietorship, established in 2011.
Licensed Dealer number unavailable.
Rephael Reuben
Ashkin.
Rephael Reuben Ashkin.
Importers
and marketers of foodstuffs (rice, etc.) from India.
Sales are
to groceries and food stores (does not work with supermarkets).
Work is
on cash basis.
Sole local
importer and representative of (main ones, there are other smaller ones), all
of India: ELITE GREEN, MOTHER's RECIPE.
Subject does not have an office. Mr. Ashkin take orders and speaks with
his clients by his cellular phone, and delivers the goods by his truck to the
customers. Storage of goods is in rented bonded warehouses in Ashdod Port. Mr.
Ashkin informed us that the warehouse is "large", but did not provide
exact address or size.
Having no employees, owner is the only one working in the business.
Financial data not
forthcoming.
Sales started
actually in 2012, but the mass sales began in 2013.
2013 sales claimed
to be NIS 400,000.
Sales for the
first half of 2014 claimed to be NIS 250,000.
Bank Hapoalim Ltd.,
Beer Sheva Branch (No. 631), Beer Sheva.
Mizrahi Tefahot Bank Ltd., KKL Beer Sheva Branch (No. 544), Beer
Sheva.
Subject’s owner
and manager, Mr. Ashkin, refused to disclose his license dealer number. This
number is also the owner's I.D. Card number (which he refused to tell). Mr.
Ashkin told us that he is an Israeli citizen, after immigrating to Israel from
India several years ago. We checked for his details in the Population Registry,
but could not trace him by his name. He also refused to disclose his personal
address details and warehouse address (so we only have his P.O. Box number).
We are unable to
explain why we could not find his name in the Population Registry, whether it
is some technical problem (different name spelling, problem in the Registry,
etc.) or that the details Mr. Ashkin gave us are incorrect.
Subject is not
listed in the local telephone or trade directories.
Otherwise, we did
not find any detrimental data on Mr. Ashkin.
Considering the lack of license dealer number, also being a small business,
dealings are recommended on cash in advance basis.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.36 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.