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Report No. : |
316483 |
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Report Date : |
14.04.2015 |
IDENTIFICATION DETAILS
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Name : |
INESCO LTD. |
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Registered Office : |
P.O. Box 6001 (4416001), 20 Hataas Street, Industrial Zone, Kfar Saba 4442520 |
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Country : |
Israel |
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Date of Incorporation : |
01.01.2007 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, manufacturers and marketers of
industrial equipment field (heat exchangers, pumps, piping, machinery.) |
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No. of Employees : |
Not Available |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Israel |
B1 |
B1 |
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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 2013, 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.
Israel's economy also has weathered the Arab Spring because strong trade ties
outside the Middle East have insulated the economy from spillover effects.
Slowing demand domestically and internationally and reduced investment due to
uncertainties caused by the Gaza conflict in summer 2014 have reduced GDP
growth to about 2% during 2014. 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 expected to come online
no sooner than 2017, but production from Tamar provided a one percentage point
boost to Israel's GDP in 2013 and a 0.5% boost 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 and has started splitting up the
oligopolies to address some of the grievances but has maintained that it will
not engage in deficit spending to satisfy populist demands. 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 |
INESCO LTD.
(Also
trading as INESCO – INDUSTRIAL SUPPLY COMPANY)
Telephone 972 9 766 77 78
Fax 972 9 766
77 95
Email: sales@inesco.co.il
P.O. Box 6001
(4416001)
20 Hataas Street
Industrial Zone
KFAR
SABA 4442520 ISRAEL
A private limited company, incorporated as
per file No. 51-390227-0 on the 01.01.2007.
Authorized share capital NIS 39,100.00,
divided into -
39,100 ordinary shares of NIS 1.00 each, of
which 100 shares amounting to NIS 100.00 were issued.
Subject is fully owned by Shai Hod.
Shai Hod.
Importers, manufacturers and marketers of
industrial equipment field (heat exchangers, pumps, piping, machinery.)
Operating from premises in 20 Hataas Street,
Industrial Zone, Kfar Saba.
Number of employees not forthcoming.
Financial data not forthcoming.
There are 2 charges for unlimited amounts, as well as 2 charges for the
total sum of NIS 211,413 registered on the company's assets (financial assets,
fixed assets, equipment and vehicles) in favor of Bank Otsar Hahayal Ltd. and
Bank Hapoalim Ltd. (last charge placed January 2015 on a vehicle, prior charge
placed November 2011).
Sales figures not forthcoming.
Bank Otsar Hahayal Ltd., branch data not
forthcoming.
Nothing unfavorable learned.
Subject's General Manager refused to provide
any information besides general activity.
The Central Bureau of Statistics (CBS) data reveals
that investments by the local manufacturing industries in machinery &
equipment (M&E) in 2014 rose by 3.2% from 2013, after a decrease by 12% and
by 3% in 2013 and 2012, respectively from the previous year. The investments
whose source was from import, which comprised 66.6% of total investment by the
industries in M&E, rose by 4.7% (after falling 19.4% the previous year),
while investments whose source was from local manufacturing increased by 0.3%
in 2014 (rose 7.7% in 2013).
Gross
Domestic Capital Formation (investment) in machinery & other equipment in 2014 reached NIS 40,031 million in current prices (NIS
38,659 million in 2013), of which NIS 26,669 million was from imports
production (NIS 25,410 million) and NIS 13,362 million from domestic production
(NIS 13,248 million in 2013).
The
CBS data on import of investment goods: import of machinery and equipment in
2014 rose 2.9% from 2013, reaching US$ 5,890 million.
Considering the refusal to disclose data,
dealings are recommended on secured basis.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.62.37 |
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1 |
Rs.91.60 |
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Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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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.