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Report No. : |
302538 |
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Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
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Name : |
YES PHARMA LTD. |
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Registered Office : |
15 Hamelacha Street,
Har Tuv A Industrial Park, Nocham Enterprises
Har-Tuv 9980101 |
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Country : |
Israel |
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Date of Incorporation : |
17.01.2005 |
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Com. Reg. No.: |
51-363979-9 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
· Agencies in the field of Raw Materials for the Pharmaceutical branch (Pharma Intermediates, Active Pharmaceuticals Ingredient's (Apis), Formulations to biopharmaceuticals). · Engaged in marketing and sales of Active Pharmaceutical Ingredients (APIs), Advanced Intermediates and New Molecules |
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No of Employees : |
16 employees serving Subject and Sister
Company (same as in mid-2014 and in 2013, had 14 employees in mid-2012, same
as in 2011 and in 2010). |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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Israel |
a2 |
a2 |
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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 |
YES PHARMA LTD.
Telephone 972 2 992 99 33
Fax 972 2 992
99 55
Email: info@yespharma.com
15 Hamelacha Street
Har Tuv A Industrial Park
NOCHAM ENTERPRISES HAR-TUV 9980101 ISRAEL
A private limited company, incorporated as per file No. 51-363979-9 on the
17.01.2005.
Authorized share
capital NIS 10,000.00, divided into -
1,000,000 ordinary shares of NIS
0.01 each,
of which 10,000
shares amounting to NIS 100.00 were issued.
Subject is fully
owned by Gideon Schurder.
Gideon Schurder, born in 1976.
Agencies in the
field of raw materials for the pharmaceutical branch (pharma Intermediates,
Active Pharmaceuticals Ingredient's (APIs), formulations to
biopharmaceuticals).
Subject is also actively engaged in R&D activities of our customers
and offer Contract Research and Manufacturing Services (CRAMS) to
Pharmaceutical Companies worldwide.
Engaged in marketing and sales of Active Pharmaceutical Ingredients (APIs), Advanced Intermediates and New Molecules
Also international
traders in raw materials for the pharmaceutical field.
Local sales are
via sister company YES PHARMA ISRAEL 2008 LTD.
All sales are on a
commission basis.
95% of sales are
export.
All of subject’s suppliers
are foreign.
Among customers:
TEVA PHARMACEUTICAL INDUSTRIES, DEXCEL, TARO PHARMACEUTICAL INDUSTRIES, PERRIGO
ISRAEL, CTS CHEMICAL INDUSTRIES, RAFA LABORATORIES, etc.
Sole local agents of:
CIPLA, NICHOLAS
PIRAML, INDSWIFT, RANDEXY, BENZOCHEM, all of India,
STEROID, of Italy,
INTERQUIM, CRYSTAL
PHARMA, both of Spain,
ACG, of India (in
the capsule field).
Operating from
rented premises, on an area of 520 sq. meters, in 15 Hamelacha Street, Har Tuv
A Industrial Park, Nocham Enterprises Har-Tuv, Mateh Yehuda
Regional Council, situated near Beit Shemesh.
Having 16
employees serving subject and sister company (same as in mid 2014 and in 2013,
had 14 employees in mid 2012, same as in 2011 and in 2010).
Holding no stocks, work is based on orders.
Financial data not forthcoming.
There are 3
charges for unlimited amounts, as well as 1 charge for the sum of US$ 75,000.00
registered on the company assets (financial assets), in favor of Bank Hapoalim
Ltd. (last charge placed April 2012).
Actual revenues
derive from commission on sales. Consolidated revenues are by subject and
sister company:
2007 consolidated
sales claimed to be US$ 4,700,000, of which 80% were sales abroad.
2008 consolidated
sales claimed to be US$ 9,800,000, of which 80% were sales abroad.
2009 consolidated
sales claimed to be US$ 6,000,000, of which 80% were sales abroad.
2010 consolidated
sales claimed to be US$ 9,200,000, of which 90% were sales abroad.
2011 consolidated
sales claimed to be US$ 13,000,000, of which 90% were sales abroad.
2012 consolidated
sales claimed to be US$ 18,000,000, of which 90% were sales abroad.
2013 consolidated
sales were US$ 22,000,000, of which US$ 21,694,000 were by subject. 95% of
sales were abroad (export).
2014 consolidated
sales were US$ 29,000,000, of which US$ 27,800,000 were by subject. 95% of
sales were abroad (export).
YES PHARMA ISRAEL 2008 LTD., fully owned by Gideon Schurder, agencies in
Israel for pharmaceutical raw materials, operating on a very low volume.
Bank Hapoalim
Ltd., Jerusalem Business Branch (No.436), Jerusalem, account No. 222000.
Bank Leumi
Le'Israel Ltd., Har Hotzvim Business Branch (No. 968), Jerusalem, account No.
566200/73.
A check with the Central
Banks' database did not reveal anything detrimental on subject’s a/m accounts.
Nothing unfavorable learned.
Subject is ISO
9001:2008 certified.
In February 2010 subject announced on the implementation of ERP/CRM System
(Priority, carried out by ESHBEL TECHNOLOGIES) into their infrastructure.
Over 90% of sales
by the local Pharmaceutical Industry are for export.
Sales for exports
of pharmaceuticals in 2013 reached US$ 6,348 million, representing 7.3%
decrease from 2012 (fall was sharper in local NIS currency terms, by 13.4%),
continuing the downward trend from 2012 when it fell some 6% from 2011 (after
10% and 41.5% increase in 2011 and 2010, respectively, from the previous
years).
Good for trade
engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.97 |
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UK Pound |
1 |
Rs.94.97 |
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Euro |
1 |
Rs.74.43 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
MNL |
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.