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Report No. : |
333886 |
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Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
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Name : |
RAM FARM MECHANIZATION LTD. |
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Registered Office : |
P.O. Box 9047 (6109001), 4 Hasolelim
Street, Tel Aviv 6789704 |
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Country : |
Israel |
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Date of Incorporation : |
08.03.1978 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Marketers
of Agricultural Equipment and Machinery. |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
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.
|
Source
: CIA |
RAM FARM MECHANIZATION LTD.
Telephone
972 3 562 58 93
Fax 972 3 562 49 42
Email: ramfarm@012.net.il
P.O. Box 9047 (6109001)
4 Hasolelim Street
Tel Aviv 6789704
Israel
A private limited company, incorporated as per file No. 51-077710-5 on
the 08.03.1978.
Subject was founded with the view of taking over the activities of I.
SHINITZKY & CO. LTD., originally established in 1952 as part of KOOR Group,
and in which Reuven Maltzman was among its founders.
* Note: Direct translation of subject's Hebrew registered name is
RAM-AGRICULTURAL MECHANIZATION LTD.
Authorized share capital NIS 100,000.00, divided into:-
100,000
ordinary shares of NIS 1.00 each,
of which 60,000 shares amounting to NIS 60,000.00 were issued.
Subject is fully
owned by Benny Maltzman.
Note: The Late Ms. Hanna Maltzman is still registered as a shareholder.
Benny Maltzman.
Importers and
marketers of agricultural equipment and machinery.
Subject also
provides services for equipment and machinery sold, as well as their customizing
according to clients need.
Sales are to
kibbutzim (typical local agricultural communal settlements) and villages, local
farmers, etc.
Among clientele:
Kibbutz Shluhot, Kibbutz Dorot, Kibbutz Magen, Ministry of Agriculture, YAROK
2000, etc.
Sole local
representatives of (among others):
MASCHIO, BONDIOLY,
ORTOMEC, all of Italy,
KONGSKILOE, of
Denmark,
ALMA, of France.
Among local
suppliers: LIGRO METAL.
Operating from
premises, owned by the shareholders, on an area of 1,200 sq. meters, in 4 Hasolelim
Street, Tel Aviv, and from a mechanization plant, owned by shareholder, on an
area of 1,250 sq. meters in Industrial Zone, Netanya.
Having 10
employees (same as in mid 2013).
Current stock is valued at NIS 1,200,000 (same as in mid 2013).
Property owned by the shareholders in 4 Hasolelim Street, Tel Aviv
(where subject is operating from) is valued at NIS 5,000,000.
Property owned by the shareholders in Industrial Zone, Netanya
(mechanization plant), is valued at NIS 2,000,000.
There are 2 charges for unlimited amounts, as well as 2 charges for the
total sum of NIS 1,144,600 registered on the company’s assets (financial assets
and vehicles), in favor of Bank Hapoalim Ltd. (last charge placed May 2014).
2011 sales claimed to be NIS 12,000,000.
2012 sales claimed to be NIS 12,000,000.
2013 sales claimed to be NIS 13,500,000.
2014 sales claimed to be NIS 15,000,000.
The First International Bank of Israel Ltd.,
Ramat Gan Branch (No. 041), Ramat Gan.
Nothing unfavorable learned.
This is a long established family company.
In 2013 value of agricultural input amounted to NIS 20 billion, 1.1%
increase from 2012 (after rising 11.6% in 2012 and 18.9% in 2011). Gross
Domestic Product (output value minus purchased input) was NIS 12.2 billion.
Import of agricultural raw materials to Israel in 2014 reached US$
1,001.5 million, 4.5% increase from 2012 (though marked 2.1% decrease in local
NIS currency), of which US$ 766.1 million attributed to import of Fodder. In
2014 import of agricultural input rose by 9.8% from 2013.
Total value of purchases for the agricultural sector in 2013, including
animal feed (comprises 39%), water, electricity & oils, reached NIS 17.7
billion.
Investments in the
Agriculture sector fell by 8.1% in 2013, continuing the decrease by 10% in 2012
(and 5% rise in 2011). Investments in machinery & equipment in the sector
also fell, by 4.9% in 2013 (after rising by 6% in 2012).
Good for trade engagements.
Maximum unsecured credit recommended US$ 75,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.00 |
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|
1 |
Rs.99.84 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
TPT |
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.