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Report No. : |
307173 |
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Report Date : |
14.02.2015 |
IDENTIFICATION DETAILS
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Name : |
TECHNO BAR LTD. |
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Registered Office : |
10 Lazarov Street, Industrial Zone, Rishon Le-Zion 7565416 |
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Country : |
Israel |
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Date of Incorporation : |
08.08.1973 |
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Com. Reg. No.: |
51-065779-4 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of stainless steel products, and also importers, traders and marketers industrial piping and metals to the industry, including: plates, sheets, bars, pipes and tubes, and accessories (fittings, flanges, valves and control valves, steam systems). |
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No of Employees : |
100 |
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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Israel |
A2 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 2011, 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. In 2010, Israel formally acceded to the OECD. Israel's economy also has weathered the Arab Spring because strong trade ties outside the Middle East have insulated the economy from spillover effects. The economy has recovered better than most advanced, comparably sized economies, but slowing demand domestically and internationally, and a strong shekel, have reduced forecasts for the next decade to the 3% level. 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 not due to come online until 2018, but production from Tamar provided a one percentage point boost to Israel's GDP in 2013 and is expected to contribute 0.5% growth 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 to address some of the grievances but has maintained that it will not engage in deficit spending to satisfy populist demands. In May 2013 the Israeli government, in a politically difficult process, passed an austerity budget to reign in the deficit and restore confidence in the government's fiscal position. 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 |
TECHNO BAR LTD.
(Also known as TECHNOBAR)
Telephone 972
3 963 23 33
Fax 972
3 961 92 43 /6
P.O. Box 5141, Rishon Le-Zion (7515002)
10 Lazarov Street
Industrial Zone
RISHON LE-ZION 7565416 ISRAEL
A private limited company, incorporated as per file No. 51-065779-4 on the
08.08.1973.
In 1997 took over the business activities of its sister company SHLOMO
BARTAL & SONS LTD. (which turned into a real estate company), Bartal family
private company incorporated in 1971, which succeeded the operation of a sole
proprietorship called "TECHNICA & AGRICULTURE", established in
1946 by Shlomo Bartal.
Authorized share capital NIS 280.00, divided into -
2,799,000
ordinary shares (2,379,050 shares issued),
1,000 founder shares (issued), all of
NIS 0.0001 each,
of which shares amounting to NIS 238.005 were issued.
(Note: The currency in share
capital was originally in Old Israeli Shekel whose nominal value was 1
thousandth of the current New Israeli Shekel (NIS), converted in 1986).
1. Shlomo Bartal, 50% (of founder and ordinary shares issued),
2. Aharon Bartal, 50% of founder shares and 25% of ordinary shares issued,
3. Israel Bartal, 25% of ordinary shares issued.
1. Aharon Bartal, General Manager, son of Shlomo Bartal,
2. Shlomo Bartal.
Importers and marketers of stainless steel products,
Also importers, traders and marketers industrial piping and metals to the industry,
including: plates, sheets, bars, pipes and tubes, and accessories (fittings,
flanges, valves and control valves, steam systems, etc.).
All sales are to the local market.
Among customers: Ministry of Defense, ADAMA AGAN, TNUVA, STRAUSS GROUP/ ELITE,
OSEM, DEAD SEA WORKS, THE ISRAEL ELECTRIC CORP., ADAMA MAKHTESHIM, OIL
REFNERIES, TEVA PHRAMACEUTICAL INDUSTRIES, K.B.A. TOWNBUILDERS GROUP, INTEL
ISRAEL, ISRAEL AEROSPACE INDUSTRIES, etc.
Most of purchases are from import.
Among local products suppliers: FRC - AGENCIES (agencies)
Among local suppliers which subject is a local distributor for: HABONIM
INDUSTRIAL VALVES, HAM-LET, MIDDLE EAST TUBE CO.
Subject sells goods by foreign manufacturers, including of GEORGE FISCHER,
ESCO, CARDINAL UHP.
Among service suppliers: SAP ISRAEL.
Sole local representatives of:
JHONSON (KADANT), of USA (Fluid Handling)
AXAIR, WALTERMEIER, both of Switzerland.
Among foreign suppliers: MARCEGALI (Italy), etc.
Operating from the following premises:
1. Offices, shop and warehouses, owned by the shareholders, on an area of
7,000 sq. meters, in 10 Lazarov Street, Industrial Zone, Rishon Le-Zion.
2. Owned shop and warehouses, in 10 Haganan Street, Sara Valley Industrial
Zone, Beer Sheva.
3. A rented store, on an area of 1,100 sq. meters in 41 Shlomo Bar Yoseph
Street, Industrial Zone, Kiryat Ata.
Had 100 employees as of the end of 2009 (same as in 2008). Current number
of employees not disclosed.
Stock was valued at NIS 50,000,000 at the beginning of 2009.
Other and later financial data not forthcoming.
There are 6 charges for unlimited amounts registered on company’s assets
(financial assets and fixed assets), in favor of The First International Bank
of Israel Ltd., Bank Leumi Le'Israel Ltd. and Bank Hapoalim Ltd. (latest 2 charges placed in 2012 and 2013, also on financial assets, prior
to that charge was placed in 2008, also on financial assets).
2006 sales claimed to be circa NIS 140,000,000.
2007 sales claimed to be circa NIS 150,000,000.
2008 sales claimed to be circa NIS 140,000,000.
Later sale figures not forthcoming.
BARTAL SHLOMO & SONS LTD., owned by Bartal
family, a real estate company.
TAHALICH-PROPERTIES & INVESTMENTS (1985) LTD.,
a real estate company.
Bank Leumi Le’Israel Ltd., Rishon Le-Zion Business Branch (No. 671), Rishon
Le-Zion, account No. 91100/96 – main account.
A check with the Central Banks' database did not reveal any negative
information regarding subject’s a/m account.
Nothing unfavorable
learned.
Despite our efforts, we were unable to speak with subject's accountant,
who told us he is very busy. In case we receive further data we shall update
you accordingly.
Subject is long
established family company, well-known in its field. Among subject’s clients
are leading local industrial corporations.
Subject is ISO
9001:2000 certified.
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.
The Central Bureau of
Statistics (CBS) data on import of metals raw materials to the local industries: Import of Iron and Steel
in 2014 summed up to US$ 2,120.5 million, similar to the level in 2013
(witnessed decrease the previous couple of years after a remarkable recovery in
the years 2011 and 2010 from 2009; Import of Precious Metals also remained
stagnant in 2014, summing up to US$ 157 million (rose by 7.3% in 2013 to from
2012), whereas import of Non-ferrous Metals decreased by 4% from 2013 (after
increasing by 6% in 2013) to US$ 816.5 million.
Notwithstanding
the refusal to disclose data, considered 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. 62.13 |
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1 |
Rs. 95.77 |
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Euro |
1 |
Rs. 71.05 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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Report Prepared
by : |
DPT |
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.