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Report Date : |
30.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MAAGAL TRADING
COMPANY LTD. |
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Registered Office : |
Commercial Center Home Center Building Gaash 6095000 |
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Country : |
Israel |
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Date of Incorporation : |
07.09.1971 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and
marketers of advertising and promotional products |
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No. of Employees : |
20 |
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 |
|
Low |
A2 |
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Moderate |
B1 |
|
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 |
MAAGAL TRADING COMPANY LTD.
Telephone 972 9 865 87 77
Fax 972 9 865 87 70
Commercial Center
Home Center Building
GAASH 6095000 ISRAEL
A private limited
company, incorporated as per file No. 51-058359-4 on the 07.09.1971.
Subject is continuing
business activities which began in 1967.
Authorized share
capital NIS 2.00, divided into -
20,000 ordinary shares of NIS 0.0001 each,
of which 502 shares
amounting to NIS 0.0502 were issued.
(Note: The currency in
share capital was originally in Old Israeli Shekel whose nominal value
was 1 thousandth of the current New Israeli Shekel (NIS), converted in
1986).
1. Avner Gal,
2. Ms. Dorith Gal, holding 1 single share.
Avner Gal.
Importers and
marketers of advertising and promotional products.
Sales are mainly to
advertising companies, as well as to the corporate market.
Among customers: BANK
HAPOALIM, BANK LEUMI LE-ISRAEL (both local largest banks), BANK YAHAV, BANK
OTSAR HAHAYAL, PFIZER ISRAEL, STRAUSS GROUP/ ELITE, TEVA PHARMACEUTICAL
IDUSTRIES, ISRACARD (credit card company), AVIS, NEGEV CERAMICS, ISCAR,
ACKERSTEIN INDUSTRIES, EDEN TEVA MARKET, and more…
Al sales are local.
Sole locale
representative of (main ones):
STILOINEA, of Italy,
AREKA, of France.
Operating from rented premises,
on an area of 4,000 sq. meters, in Commercial Center, Home Center Building,
Kibbutz Gaash, and from a branch in 11 haofan Street, Industrial Zone,
Ashkelon.
Having 20 employees
(had 30 employees in the beginning of 2012).
Current stock is
valued at NIS 6,000,000.
Other financial data
not forthcoming.
There are 2 charges
for unlimited amounts registered on the company's assets (financial assets), in
favor of Bank Hapoalim Ltd. (charges placed in 1992 and 2004).
2012 sales claimed to
be NIS 17,000,000.
2013 sales claimed to
be NIS 16,000,000.
Sales for the first 9 months of 2014 claimed to be NIS 12,000,000.
Bank Hapoalim Ltd.,
Netanya Business Branch (No. 167), Netanya, account
No. 456504.
A check with the Central
Banks' database did not reveal any negative information regarding subject's a/m
account.
Nothing unfavorable
learned.
Subject is a long
established company.
In July 2011 a local
Magistrate Court ruled in favor of subject in a commercial matter, where
subject ordered goods (in value of couple of tens US$ thousands) from a Chinese
supplier (XIAMEN ZHONG SHENG TRADE CO. LTD), paid cash for it, however could
not release the goods in the Israeli port as the Chinese supplier refused to
hand the original bill of lading. The Chinese supplier asked from subject
advance payment for a future shipment before giving the bill of lading (which
subject refused to pay) and the Court ordered to release the goods.
Good for trade engagements.
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).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.31 |
|
|
1 |
Rs.99.00 |
|
Euro |
1 |
Rs.78.14 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
|
|
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.