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Report Date : |
11.09.2014 |
IDENTIFICATION DETAILS
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Name : |
SULEMA INTERNATIONAL TRADING LTD |
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Registered Office : |
P.O. Box 225 Tel Aviv (6100102) P.O. Box 12372, ZUR YIGAL - KOKHAV YAIR (4486200) 1 Granite Street Mitzpe Sapir, Industrial Zone Zur Yigal - Kokhav Yair 4486200 |
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Country : |
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Date of Incorporation : |
23.12.1984 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, traders and marketers of dried foodstuffs. |
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No. of Employees |
18 |
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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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. 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.
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Source
: CIA |
SULEMA INTERNATIONAL TRADING LTD.
Telephone 972 9 749 90 00
Fax 972 9 749 90 09
Email: sulema@netvision.net.il
P.O. Box 225 TEL AVIV (6100102)
P.O. Box 12372, ZUR YIGAL - KOKHAV YAIR (4486200)
1 Granite Street
Mitzpe Sapir, Industrial Zone
ZUR YIGAL - KOKHAV YAIR 4486200 ISRAEL
A private limited company, incorporated as per file No. 51-104903-3 on the 23.12.1984, under the name SHALOSH SHALOSH LTD., which changed to present name on the 18.04.1985.
Subject is continuing a family business originally
established by Late Josheph Sulema, father of the current shareholders in
Authorized share capital NIS 600,520.00, divided into -
600,520,000 ordinary shares of NIS 0.001 each,
of which 200,520,000 shares amounting to NIS 200,520.00, were issued.
Aharon Sulema, 49%,
Jacob Sulema, 49%,
Ms. Victoria Sulema, 2%.
We are informed that in practice, the shares of the Late Josheph Sulema were transferred to his widow, Ms. Victoria Sulema.
Aharon Sulema, Joint General Manager,
2. Jacob Sulema, Joint General Manager,
3. Ms. Victoria Sulema.
Importers, traders and marketers of dried foodstuffs.
Subject also exports but in small volume (4%-5%).
Primary focus: dried fruits (also frozen), dehydrated exotic fruits, nuts, seeds, spices, pulses, health foods, milk powder, butter, olive oil, agricultural crops and baking and catering ingredients.
Around 5% of sales are for export.
Among clients: ELITE/ STRAUSS GROUP, SHUFERSAL, OSEM, NOF
HADAGAN, PITZ
Most purchasing is from import (USA, Europe, India, Jordan, Turkey, etc.).
Among local suppliers: SASSON & ASSOC. DRIED FRUITS, HAMAMA MEIR TRADE, SHUKHA TRADING CO. and more.
Operating from owned premises (main office, dry and cold storage facilities, factory and retail outlet), on a built area of 3,500 sq. meters, in 1 Granite Street, Mitzpe Sapir Industrial Zone, Zur Yigal - Kokhav Yair, and a branch (office and shop) in 13 Hachalutzim Street, Tel Aviv.
Having 18 employees (had 15 employees in 2011).
Current stock valued at NIS 25,000,000 (was valued at NIS 24,000,000 in 2011).
Other financial data not forthcoming.
There are 31 charges for an unlimited amounts, as well as 1 charge for
NIS 128,578registered on the company’s assets (financial assets, fixed assets, equipment and vehicles), in favor of Israel Discount Bank Ltd., Bank Leumi Le’Israel Ltd., Bank Hapoalim Ltd. and Mizrahi Tefahot Bank Ltd. (last 4 charges placed October 2013).
2009 sales claimed to be NIS 85,000,000, of which 5% were for export.
2010 sales claimed to be NIS 90,000,000, of which 4%-5% were for export.
2011 sales claimed to be NIS 90,000,000, of which 4%-5% were for export.
2012 sales claimed to be NIS 95,000,000, of which 4%-5% were for export.
2013 sales claimed to be NIS 100,000,000, of which 4%-5% were for export.
Sales for the first 8 months of 2014 claimed to be NIS 67,000,000, of which 4%-5% were for export.
Israel Discount Bank
Ltd., Tel Aviv Main Branch (No. 010), Tel Aviv, account
No. 183733 – main account.
Bank Leumi Le’Israel Ltd., Allenby Business Branch (No. 654), Tel Aviv, account No. 352000/92.
A check with the Central Banks’ database did not reveal
anything detrimental on a/m accounts.
Nothing unfavorable learned.
Subject is a veteran family firm, well-known established in its line of business.
According to survey
from 2013, the local food market, manufacturing, import and trade, rolls NIS 80
billion per annum. There are some 1,700 food plants in Israel (some also
import) and hundreds of importers in the food, beverage and consumer products,
supplying raw materials and finished goods to the food market.
In 2013, there was a decrease in consumption of food products in the marketing markets in terms of quantity, which was halted in money terms due to prices rise.
The marketing chains reported on sharp drop (7.9%) in sales of foodstuffs in the first 2 months of 2014 in terms of quantity. The main reason for the trend is the continuous rise in cost of living in Israel, which cause the decrease in expenditure by consumers. There has been a recovery in the sale of food products in the following months, and food chains sales index marked a 3.3% rise in annual calculation.
According to Nilsen
Market Research survey of the consumer market for the first half of 2014, in
money terms, the market experienced an erosion, and stagnant in terms of
quantity, besides the beverage market, which presented a decrease. The volume
of FMCG bar-coded market totaled NIS 20.6 billion, and was divided into: 79%
for food (-0.5% in money terms, stagnant in quantity), 12% for beverages (-3.3%
in money, -1.9% in quantity), 7% for personal care goods
(-2.3%, stagnant in quantity), and 7% for home care goods (-3%, stagnant in
quantity).
Sales for exports by the
food & beverages industries grew by 1.5% in 2013 from 2012, with sales
reaching US$ 1,072.5 million (in $ terms, though fell 5% in NIS terms), after
remaining stagnant in 2012 and 17% rise in export in 2011.
According to Central Bureau of Statistics (CBS), import of food and beverages to Israel in 2013 reached NIS 6,946 million, rising by mere 0.7% (in NIS terms, 7.4% rise in $ terms), continuing the upward growth trend from 2012 (14% rise), 2011 and 2010.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.82 |
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1 |
Rs.98.14 |
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Euro |
1 |
Rs.78.65 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
NIS |
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.