MIRA
INFORM REPORT
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Report Date : |
12.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BEREZOVSKY INTERNATIONAL LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
17.02.1987 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and
international traders of raw materials for the foodstuff industry. Mainly dealing
in fruits and vegetables. Products include fruit concentrates, pulp, food
additives, juices, peel extracts. |
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No of Employees : |
7 Employees |
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 – June 01, 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
Company name and Address
BEREZOVSKY
INTERNATIONAL LTD.
Telephone 972 3 534 26 37
Fax 972 3 535 51 01
5 Droyanov Street
TEL
AVIV 6314305, ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-117827-9 on the 17.02.1987.
Originally
registered under the name WAKNINE & BEREZOVSKY LTD., which changed to the
present name on the 06.05.2009.
SHARE CAPITAL
Authorized share
capital NIS 10,000.00, divided into -
2 management
shares of NIS 100.00 each, 9,800 ordinary shares of NIS 1.00 each, fully
issued.
SHAREHOLDERS
Subject is fully
owned by Dr. Noach Berezovsky, via his owned companies.
According to the
Registrar of Companies shareholders are:
1. INTES LTD., 50%,
2. Subject itself is registered as
holder of 50%.
DIRECTORS
1. Dr. Noach Berezovsky, Joint General Manager,
PhD. in Food Engineering,
2. Itzhak (Tsahi) Berezovsky, Joint General
Manager, son of Noach
3. Ms. Reut Berezovsky.
BUSINESS
Importers and
international traders of raw materials for the foodstuff industry. Mainly
dealing in fruits and vegetables. Products include fruit concentrates, pulp,
food additives, juices, peel extracts.
Most of activities
(purchasing and selling) are abroad, in Europe, North, Central and South
America, Africa and Asia. via subsidiary PRODALIM. Local activities are very low.
Operating from
owned office premises, on an area of 200 sq. meters, in 5 Droyanov Street, Tel
Aviv (to where subject moved from 36 magal Street, Savyon), and from a
logistics centers in Uitgeest, Netherlands and other locations in the world.
Having 7 employees
(same as in mid 2013 and the end of 2011).
MEANS
Financial data not
forthcoming.
There are 2 charges for unlimited amounts
registered on the company's assets (fall assets), in favor of Bank Leumi LeIsrael
Ltd. (last charge placed July 2012, prior charge placed January 2006).
REVENUES
Sales figures not
forthcoming.
OTHER COMPANIES
PRODALIM B.V, a
100% subsidiary, registered in the Netherlands, founded in 1990, operating
activities abroad.
BANKERS
Bank Leumi
Le'Israel Ltd., Hachashmonaim Business Branch (No. 817), Tel Aviv.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject’s joint
General Manager, Tsahi Berezovsky, refused to disclose financial data.
Subject's former office
was at the owned private residence in Savyon (Noach Berezovsky's registered
address, we assume it is still his private residence), one of the wealthiest
and affluent localities in Israel.
Dr. Noach
Berezovsky himself has vast experience in the food area and mainly in the
citrus industry.
In the 1990's it
was reported on a joint venture between subject and GRUPO B.M. (based in
Mexico) in Jaguey Grande, Cuba, for fruits extracts production, including
subject's rights for worldwide distribution.
The
Central Bureau of Statistics data shows that import of raw food
products to Israel in 2013 summed up to NIS 8,552.7 million, 6.4% decrease from
2012 (in NIS terms, was stagnant in $ terms). That continues the downwards
trend from 2012, when it fell by 2.7% from 2011, whereas in both 2011 and 2010
import rose by around 20% in each of the years. Over 50% of import is from the
EU.
SUMMARY
Notwithstanding the refusal to disclose
financial data, considered good 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.60.92 |
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UK Pound |
1 |
Rs.98.66 |
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Euro |
1 |
Rs.78.64 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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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.