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Report No. : |
318038 |
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Report Date : |
27.04.2015 |
IDENTIFICATION DETAILS
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Name : |
T C M
TECHNOLOGIES LTD. |
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Formerly Known As : |
T C M TECHNOLOGY & COST MANAGEMENT LTD., |
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Registered Office : |
6 Hamelacha Street, Northern Industrial
Zone, Lod 7152012 |
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Country : |
Israel |
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Date of Incorporation : |
06.03.2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Consultants in the ICT field, providing broad solutions in the areas
of HLS (Homeland Security). |
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No. of Employees : |
10 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Israel |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
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 |
T C M TECHNOLOGIES LTD.
Telephone 972 8 913 50 00
Fax 972 8 913 50 05
Email: office@tcm.co.il
6
Hamelacha Street
Northern
Industrial Zone
LOD 7152012 ISRAEL
A private limited company, incorporated as per file No. 51-351782-1 on
the 06.03.2004.
Originally registered under the name T C M TECHNOLOGY & COST
MANAGEMENT LTD., which changed to the present name on the 07.05.2014.
Authorized share capital NIS 101,000.00,
divided into -
1,000 shares without voting rights (111
shares issued),
100,000 ordinary shares (1,000 shares issued),
all of NIS 1.00 each, of which shares amounting to NIS 1,111.00 were issued.
1. Moshe Maurice Dahan, holding 100% of ordinary shares issued,
2. Zion
Lachiani, holding 100% of shares without voting rights issued.
Moshe Dahan (full
name Moshe Maurice Dahan).
Consultants in the ICT field, providing broad solutions in the areas of
HLS (Homeland Security).
Among clients: Ministry of Defense, Israel Broadcast Authority (IBA),
ELECTRA Group, and more.
Operating from rented office premises, on an
area of 200 sq. meters, in 6 Hamelacha Street, Northern Industrial Zone, Lod.
Having 10 employees.
Financial data not forthcoming.
There is 1 charge for the amount of NIS 135,000
registered on the company’s assets (financial assets), in favor of Bank Leumi
Le’Israel Ltd. Charge placed in 2011.
2013 revenues claimed to be NIS 8,500,000.
2014 revenues claimed to be NIS 8,500,000.
Bank Leumi Le’Israel Ltd., Yashir Leumi Branch (No. 678), Rishon
Le-Zion.
Nothing unfavorable learned.
Subject's refused to disclose financial data, besides revenues figures.
According to our files, Mr. Moshe Dahan used to hold minority
shares in ACCEL TELECOM LTD., established 2003, a well-known leading
supplier (importers, marketers) of telecommunications solutions.
The Central Bureau of Statistics (CBS) published that the output by the
Information & Communications Technologies (ICT) branches rose in 2013 by
mere 1% from 2012, reaching total of NIS 77.5 billion, which comes 10% increase
in 2012 from 2011.
77% of the output in 2013 was attributed to Services (4%-5% rise from
2012), 18% to the Industry (11% decrease), and 5% to Wholesale (4%-5% rise).
In the ICT Services branch, a 15% rise in export of Computing and IT
Consulting Services was noted.
Notwithstanding the refusal to disclose
financial data (besides sales figures), considered 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.63.40 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.