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Report No. : |
308684 |
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Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
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Name : |
S.A. ATARIM LTD. |
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Formerly Known As : |
S.A. ATARIM TECHNICAL SUPPLY LTD |
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Registered Office : |
P.O.
Box 1374, HOD HASHARON (4511202), 13 Modi'in Street, Sgula Industrial Zone,
Petach Tikva 4927162 |
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Country : |
Israel |
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Date of Incorporation : |
03.01.1996 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, traders and marketers of
products for the building sector, specializing in marble anchoring and
cladding solutions. |
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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 |
A2 |
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 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 |
ATARIM TECHNICAL
SUPPLY LTD.
Correct Name: S.A. ATARIM LTD.
Telephone 972 3 603 30 00
Fax 972 3 603 19 98
Email: info@sa-atarim.com
P.O. Box 1374, HOD
HASHARON (4511202)
13 Modi'in Street
Sgula Industrial Zone
Petach Tikva 4927162 Israel
A private limited company, incorporated as
per file No. 51-225572-0 on the 03.01.1996.
Originally registered under the name S.A.
ATARIM TECHNICAL SUPPLY LTD., which changed to the present name on the
10.11.2013.
Authorized share capital NIS 28,000.00,
divided into -
28,000 ordinary shares of NIS 1.00 each, of which
100 shares amounting to NIS 100.00 were issued.
Subject is fully owned by Uri Shalev.
Uri Shalev.
Ms. Hana Korach
Importers, traders and marketers of products
for the building sector, specializing in marble anchoring and cladding
solutions.
85% of purchase is from import.
Among clientele are construction companies:
DANYA CEBUS, ASHTROM GROUP, U DORI CONSTRUCTION, ZARFATI ZVI & SONS, and
more.
Among local suppliers:
ZABAR BARZEL, METAL WORKS (Petach Tikva),
BEIT MISHAR HASHAHAL.
Sole local representatives of (among
others):
ARTU, of Germany,
EXCALIBUR, of UK,
FIVEA, of China,
ANCHOR FASTNERS, of Taiwan.
Operating from rented premises, on an area
of 500 sq. meters, in 13 Modi'in Street, Sgula Industrial Zone, Petach Tikva.
Having 10 employees (same as in the end of
2013, had 9 employees in the end of 2011).
Current stock is valued at NIS 3,600,000
(was valued at NIS 4,000,000 in the end of 2013 same as in the end of 2011).
Other financial data not forthcoming.
There are 15 charges for unlimited amounts, as well as 3 charges for the
total sum of NIS 843,000 registered on the company's assets (financial assets, fixed
assets and vehicles), in favor of Bank Hapoalim Ltd., Bank Leumi Le'Israel Ltd.
and leasing companies (last charge placed August 2014).
2009 sales claimed to be NIS 10,000,000.
2010 sales claimed to be NIS 11,000,000.
2011 sales claimed to be NIS 14,000,000.
2012 sales claimed to be NIS 14,000,000.
2013 sales claimed to be NIS 14,000,000.
2014 sales claimed to be NIS 12,000,000.
Bank Hapoalim Ltd., Ayalon Branch (No. 558),
Tel Aviv, account No. 322778.
Bank Leumi Le'Israel Ltd., Em Hamoshavot
Branch (No. 709), Petach Tikva, account No. 4000/28.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m accounts.
Nothing unfavorable learned.
Among subject's clientele are the leading
local construction companies.
From the Central Bureau of Statistics (CBS)
preliminary data for 2014, investments in construction for dwelling in 2014
fell by 1.2%, after an increase of 1.2% in 2013 and 8.6% in 2012. Investments
in construction not for dwelling (public institutions, commerce, industry,
etc.) and other construction works (e.g. roads, offices, industrial,
institutional), dropped 8.4% in 2014, after climbing 8.6% in the previous year.
Total investment in buildings and other
construction works in 2014 reached NIS 106.23 billion, 4% decrease from 2013
(when it rose 3.& from 2102). The investment included NIS 66 billion in
residential building (-1.2% from 2013), of which 91.5% was for private building,
the rest for public building. Construction fell despite the Government's
efforts to increase investments. The fall in investment also lead to a rise in
houses prices.
Investment in construction for non-residential building (public
institutions, commerce, industry, etc.) summed up to NIS 20.28 billion in 2014
(-8.1% from 2013), and investment in other construction works (e.g. roads,
offices, industrial, institutional) reached NIS 19.93 billion (-8.7%).
Investments in infrastructures comprise 18% of total investments in
construction.
The annual volume of houses renovations
according to the Renovations Contractors Association is estimated at NIS 15
billion, and the turnover of the ceramics branch is estimated to capture NIS
2.3 billion (which comprises some 80% of the branch's total volume).
According
to the CBS, import of Iron and Steel in 2013 fell by 8.5% from
2012 (in local NIS currency, fell by 2.3% in $ terms).
The building sector indicators for 2014 show a withdrawal from the
previous year, a reverse trend from 2013, a year which showed improvement in
activities after ambiguous previous several years. Volume of building starts
for dwelling (which is a dominant indicator for the trend in the building
sector) in 2014 is expected to fall by 12% from the previous year with some
40,000 building starts, compared to 44,340 in 2013 (3.4% increase comparing to
2012, a year in which a 13% decrease from 2011 was noted). A similar rate of
decrease was also noted in the number of apartment whose building has been completed,
and in the number of dwellings transactions, where a sharp decrease was seen.
In 2013 there was also 11.8% increase in apartments whose construction was
finished (41,970 apartments).
Number of dwellings transactions climbed by 9% in 2013 reaching total of
114 thousands transactions (rise in both new and second-hand apartments), but
fell in 2014 (in the beginning of 2015 the rising trend in transactions
resumed). In new apartments sold, a slight 0.3% rise noted in 2013 from 2012.
Notwithstanding the refusal to disclose
financial details, considered good for trade engagements.
Notes:
1. Subject
left Hod Hasharon, and only its P.O. Box remains there.
2. 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.18 |
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|
1 |
Rs.95.71 |
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Euro |
1 |
Rs.70.75 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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.