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Report No. : |
336205 |
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Report Date : |
14.08.2015 |
IDENTIFICATION DETAILS
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Name : |
BRIGHTCOM LTD. |
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Registered Office : |
8 Hakishon Street Industrial Zone Beni
Brak 5120308 |
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Country : |
Israel |
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Date of Incorporation : |
18.06.2015 |
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Legal Form : |
Private limited company |
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Line of Business : |
Importers (awaiting first shipment) and
marketers of hand tools, lighting elements, batteries and garden products. |
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No. of Employees : |
1 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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 – 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.
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Source
: CIA |
BRIGHTCOM LTD.
8 Hakishon Street
Industrial Zone
BENI
BRAK 5120308 ISRAEL
Telephone 972 3 925 06 66/45
Fax
972 3 925 06 99
A private limited company, incorporated as
per file No. 51-527317-5 on the 18.06.2015.
Authorized share capital NIS 10,000.00,
divided into -
10,000
ordinary shares of NIS 1.00 each,
of which 1,000 shares amounting to NIS
1,000.00 were issued.
1. Menachem
Gal, 37.5%,
2. FUJI COLOUR LABORATORIES (1979) LTD., 37.5%,
fully owned by SHIMONE GROUP OF COMPANIES LTD., owned by Shimone family, headed
by Yehezkel Shimone,
3. Oded Avi Chen, 15%,
4. Ms. Kineret Peres, 10%.
1. Yehezkel
Shimone,
2. Menachem
Gal.
Oded Avi Chen.
Subject has just commenced activities.
Importers (awaiting first shipment) and
marketers of hand tools, lighting elements, batteries and garden products.
No sales as of yet.
Sales will be to DIY stores, technical
supplies stores.
Operating from premises, owned by SHIMONE
GROUP (serving the SHIMONE Group companies), on an area of 5,000 sq. meters, in
8 Hakishon Street, Industrial Zone, Bnei Brak.
Note: SHIMONE GROUP – the company itself;
SHIMONE Group – group of the SHIMONE companies.
Having 1 employee. Subject receives services
from employees of SHIMONE Group.
Financial data not forthcoming.
Property owned by
SHIMONE GROUP, in 8 Hakishon Street Bnei Brak (where subject is operating from)
was purchased for a sum of
US$ 5 million.
According to our,
SHIMONE GROUP owns a 10 storey building (1,000 sq. meters) in 38 Tuval Street,
Ramat Gan, which was valued at US$ 3 million several years ago.
There are no charges registered on the company's assets.
No sales as of yet.
SHIMONE GROUP OF COMPANIES LTD., established
1960, importers and marketers of photographic and digital media equipment and
supplies (digital cameras, cards), sole local representatives of FUJI FILM - of
Japan. Owns:
FUJI COLOUR
LABORATORIES (1979) LTD.
NETZIGIM
COMMUNICATION LTD., marketers of fax machines and allied supplies,
FUJI FILMS
(ISRAEL) LTD.
GENERAL MUSIC CO.
(1973) LTD., real estate holdings.
The First International Bank of Israel Ltd.,
Avnei Chen Branch (No. 126), Ramat Gan.
Nothing unfavorable learned.
SHIMONE GROUP is a
long established business, well-known and among the leading in their branch.
From the Central Bureau of Statistics (CBS)
data on gross imports of investment goods reveals that the segment of import of
Tools, Implements & Accessories rose in 2014 by 8% from 2013, and totaled
US$ 1,280.3 million. In 2013 import of such rose by 1.5% from 2012.
A newly
established company, with no sales as yet, therefore too early to determine a
definite credit opinion.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.92 |
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UK Pound |
1 |
Rs.101.44 |
|
Euro |
1 |
Rs.72.26 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
TRU |
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.