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Report No. : |
335864 |
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Report Date : |
13.08.2015 |
IDENTIFICATION DETAILS
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Name : |
A.R.I.Z. IMPORT AND MARKETING OF FOOD LTD. |
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Registered Office : |
P.O. Box 4604 (4914502), 23 Alexander Yanai Street, Segula Industrial
Zone Petach Tikva 4927723 |
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Country : |
Israel |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
19.02.1984 |
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Com. Reg. No.: |
51-101543-0 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is Importers, packers and marketers of packaged food raw
materials (sugar – 70% of activities), flour, rice, salt, pulses, powders, etc.)
for bakeries, candy plants, private labels, Also importers, marketers and
installers of storage structures (silos) and sieving, weighing and shipping
flour, sugar and oil and distributing them in bulk. Packaging activities are
carried out by subject abroad. |
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No. of Employee : |
50 |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
A.R.I.Z. IMPORT AND MARKETING OF FOOD LTD.
Telephone 972
3 931 61 16
Fax 972
3 934 41 16
Email: info@ariz.co.il
P.O. Box 4604 (4914502)
23 Alexander Yanai Street
Segula Industrial Zone
PETACH TIKVA 4927723,
ISRAEL
A private limited company, incorporated as per file No. 51-101543-0 on the
19.02.1984.
Company took over the business activities of WEINTRAUB AVRAHAM LTD.,
established 1959.
Authorized share capital NIS 10.00, divided into -
9,900 ordinary shares (1,900 shares
issued),
100 management shares (issued), all of NIS 0.001 each, of which shares
amounting to NIS 2.00 were issued.
1. Avraham
Weintraub, 50% of management shares and 40% of ordinary shares,
2. Jacob
Antwarg, 50% of management shares and 30% of ordinary shares,
3. Mrs.
Raia Weintraub, wife of Abraham Weintraub, 30% of ordinary shares.
1. Avraham (Avi) Weintraub,
2. Jacob Antwarg, Adv.
Importers, packers and marketers of packaged food raw materials (sugar –
70% of activities), flour, rice, salt, pulses, powders, etc.) for bakeries,
candy plants, private labels, Also importers, marketers and installers of
storage structures (silos) and sieving, weighing and shipping flour, sugar and
oil and distributing them in bulk.
Packaging activities are carried out by subject abroad.
Amongst suppliers: DAGAN FLOUR, SCHTIBL FLOUR, HASHARON MILL ROTH,
DIZENGOFF TRADING, L.D.S., etc.
Amongst clients: SHUFERSAL, THE CENTRAL BOTTLING CO (COCA COLA), ISRAEL BEER BREWERIES, MILCO INDUSTRIES (TARA DAIRIES), SCHKARACHI, RIO ICE CREAM, EINI BAKERY, ANGEL
BAKERY, DAGAN, HAGAVIA, KAPULSKY, GALAM, MAN, HASHAHAR HAOLEH, I. SHABI FOOD
MARKETING, MANAMIM, etc.
Sole local representatives mainly of:
SUDZUCKER, of Germany,
CEPI, of Italy.
Operating from premises, on an area of 7,000 sq. meters, of which 3,200 are
built (the built area is owned by subject, the plot is rented), in 23 Alexander
Yanai Street, Segula Industrial Zone, Petach Tikva.
Having 50 employees (same as in the last previous years).
Stock was valued at NIS 30,000,000 in mid 2013 (similar to the end of 2012
and mid 2011).
B/S shows (last obtainable):
31.12.2010
(NIS)
Current assets 50,413,530
Fixed assets 2,015,584
Investments 2,317,697
54,746,811
Current liabilities 48,837,589
Other liabilities 2,000,040
Non-current liabilities 2,487,403
Equity 1,421,779
54,746,811
There are 15 charges
for unlimited amounts, as well as 3 charges for the total sum 620,000.00
registered on the company's assets (financial assets, fixed assets and
vehicles), in favor of Israel Discount Bank Ltd., Mercantile Discount Bank
Ltd., Mizrahi Tefahot Bank Ltd., The First International Bank of Israel Ltd.,
Bank of Jerusalem Ltd. and leasing companies (last
10 charges placed during 2012 – 2013, prior charges placed during 1996 - 2008).
2009 sales claimed to be NIS 132,000,000.
2010 sales claimed to be NIS 114,000,000, making
a net profit (after tax) of
NIS 1,617,323.
2011 sales claimed to be NIS 115,000,000.
2012 sales claimed to be NIS 152,000,000.
Sales for the 1st half of 2013 claimed to be NIS
65,000,000.
Full 2013 sales not forthcoming.
2014 sales claimed to be NIS 95,000,000
Subject's General Manager informed us that the
decrease in sales is due to a decline in sugar prices (sugar comprises 70% of
subject's activities).
2015 sales exprected to be similar to those of
2014.
M. A. SUKOR TRADING CO. LTD.,
MAOR TRADE D. A. (1994) LTD., 67%, marketing
company in Haifa, having 20 employees, 2010 sales claimed to be NIS 40 million.
ADAMOT KALANIT LTD., a real estate company controlled by subject’s
shareholders,
A.R.I.Z. MARKETING & SUPPLY OF RAW MATERIALS (1988) LTD., marketers of
flour, oil and sugar.
Mizrahi Tefahot
Bank Ltd., Hafetz Haim Branch (No. 465), Petach Tikva,
account
No. 293193.
A check with the Central Banks’ database did not reveal any negative
information regarding subject’s a/m account.
Nothing unfavorable learned.
Subject is a veteran business, well-known in its field.
The
Central Bureau of Statistics data shows that import of raw food products
to Israel in 2013 summed up to NIS 8,172.2 million, 4.4% down from 2013 (in NIS
terms, fell 3.2% in $ terms). That continues the downwards trend from 2013 and
2012 when it fell by 6.4% and 2.7%, respectively, whereas in both 2011 &
2010 import rose by around 20% each year. Over 50% of import is from the EU.
According to the CBS data, investments in machinery &
equipment from import for the food industry in 2014 increased by 18.6% from
2013 and summed up to NIS 559 million (after couple of years import decreased,
by 14.4% in 2013 and by 21.5% in 2012), while investments in machinery &
equipment from import for the beverage & tobacco industries witnessed a
fall by 21% in 2014 to NIS 129.7 million (after plunging by 14.5% in 2013 and a
2% increase in 2012).
Good for
trade engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.83 |
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1 |
Rs.101.00 |
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Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
ASH |
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.