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Report No. : |
303593 |
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Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
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Name : |
ISRAELI PEANUTS
LTD. |
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Registered Office : |
P. O. Box 44469 (9144303), 8 Hatozeret Street, Atarot Industrial
Zone Jerusalem 9770028 |
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Country : |
Israel |
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Date of Incorporation : |
07.07.2002. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processors, Importers and Marketers of
Coated Peanuts in Various Sorts (Sugar Flour) |
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No. of Employees : |
25 Employees |
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 : |
Slow but correct |
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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
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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.
|
Source
: CIA |
ISRAELI PEANUTS LTD.
(Also known as
PEANUTS ISRAELI LTD.)
Telephone 972 2 656 90 12
Fax 972 2 583 77 01
P. O. Box 44469 (9144303)
8
Hatozeret Street
Atarot
Industrial Zone
JERUSALEM 9770028
ISRAEL
A private limited company, incorporated as
per file No. 51-325704-8 on the 07.07.2002.
Originally established under the name G.A.G.
HAMENORA LTD., which changed to the present name on the 14.05.2008.
Authorized share capital NIS 100.00 divided
into, - 100 ordinary shares of NIS 1.00 each, Fully issued.
Subject is fully owned by Eliyahu Mizrahi.
Eliyahu (Eli) Mizrahi.
Processors, importers and marketers of
coated peanuts in various sorts (sugar flour, etc.).
Subject also assumed part of activities of
GIDI MIZRAHI TRADING COMPANY LTD., in mid 2013.
Most of purchase is local.
Import of nuts is from China.
Among clientele: SHIMUREI AMIGA, DEAN
MARKETING, NACHLE, TAAMAN, and more.
Among local suppliers: TNUVOT SADE, HAMAMA
TRADE, and more.
Operating from rented premises, on an area
of 1,200 sq. meters in 8 Hatozeret Street, Atarot Industrial Zone, Jerusalem.
Having 25 employees.
Current stock is valued at NIS 2,500,000.
Other financial data not forthcoming.
There are 4 charges for unlimited amounts registered on the company's
assets (financial assets, fixed assets, equipment and a vehicle), in favor of
Bank Hapoalim Ltd. and companies (last charge placed May 2013).
2012 sales claimed to be NIS 7,000,000.
2013 sales claimed to be NIS 20,000,000.
2014 sales claimed to be NIS 35,000,000.
The increase in 2013 and 2014 sales is due
to assuming part of activities of GIDI MIZRAHI TRADING – see more in CHARACTER.
Bank Hapoalim Ltd., Jerusalem Business
Branch (No. 436), Jerusalem, account No. 262223.
A check with the Central Banks' database did not reveal any negative information
regarding subject's a/m account.
Nothing unfavorable learned.
Eli Mizrahi used to hold 49% in GIDI MIZRAHI
TRADING COMPANY LTD., established 1995, together with his brother Gidi Mizrahi (in
parallel activating subject), which operated in similar line of activity as
subject.
In mid 2013 the brothers decided to split,
subject assuming part of GIDI MIZRAHI's activities, leading to a significant
increase in sales since.
The whole local
nuts/almonds and dried fruits market rolls some NIS 600 million annually. Most
of it arrives from import from Turkey, China, USA, Far East countries and South
Africa.
According to survey from 2013, the local food market, manufacturing, import
and trade, rolls NIS 80 billion per annum. There are some 1,700 food plants in
Israel (some also import) and hundreds of importers in the food, beverage and
consumer products, supplying raw materials and finished goods to the food
market.
In 2013, there was a decrease in consumption
of food products in the marketing markets in terms of quantity, which was
halted in money terms due to prices rise.
The marketing chains reported on sharp drop
(7.9%) in sales of foodstuffs in the first 2 months of 2014 in terms of
quantity. The main reason for the trend is the continuous rise in cost of
living in Israel, which cause the decrease in expenditure by consumers. There
has been a recovery in the sale of food products in the following months, and
food chains sales index marked a 3.3% rise in annual calculation.
According to Nilsen Market
Research survey of the consumer market for the first half of 2014, in money
terms, the market experienced an erosion, and stagnant in terms of quantity,
besides the beverage market, which presented a decrease. The volume of FMCG
bar-coded market totaled NIS 20.6 billion, and was divided into: 79% for food
(-0.5% in money terms, stagnant in quantity), 12% for beverages (-3.3% in
money, -1.9% in quantity), 7% for personal care goods
(-2.3%, stagnant in quantity), and 7% for home care goods (-3%, stagnant in
quantity).
According
to Central Bureau of Statistics (CBS), import of food and
beverages to Israel in 2013 reached NIS 6,946 million, rising by mere 0.7% (in
NIS terms, 7.4% rise in $ terms), continuing the upward growth trend from 2012
(14% rise), 2011 and 2010. In the first 8 months of 2014 import increased by
8% compared to the parallel period in 2013 (by 13% in $ terms).
Local food industry employs directly 62,000 workers in some 1,550 plants,
72% of which are considered small plants (with sales of up to NIS 10 million).
According to Central Bureau of Statistics (CBS) data,
investments in machinery & equipment from import for the food industry in 2013
fell 16.5% from 2012 and summed up to NIS 460.6 million (after 21.5% decrease
in 2012 and 61% increase in 2011), while investments in machinery &
equipment from import for the beverage & tobacco industries fell also by
16.5% in 2013 to NIS 159.8 million (after 2.2% rise in 2012 and 4.7% fall in
2011).
Good for trade engagements.
Note: 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
|
1 |
Rs.93.33 |
|
Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
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.