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Report No. : |
329591 |
|
Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
ASSA BROTHERS |
|
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Registered Office : |
53 Nes Lagoyim Street, Tel Aviv 6819026 |
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Country : |
Israel |
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Year of Establishment : |
1970 |
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Legal Form : |
Non-Registered Partnership |
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Line of Business : |
Manufacturers
and Marketers of Brooms and Brushes. |
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|
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No. of Employees : |
1 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Israel |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
ASSA BROTHERS
(AHIM ASSA in
Hebrew)
Telephone 972 3 682 04 97
Fax 972 3 682 04 97
53 Nes Lagoyim Street
TEL AVIV 6819026 ISRAEL
A non-registered partnership established in 1970.
Operating under License dealer No. 557307444.
1. Nissim Assa,
2. Manoach Assa.
1. Nissim Assa,
2. Manoach Assa.
Manufacturers and
marketers of brooms and brushes.
Importing raw materials for own production.
Most sales are to the many private customers.
Among local suppliers: KOL TIMBER.
Operating from owned premises, on an area of 720 sq. meters (120 sq.
meters built and 600 sq. meters yard), in 53 Nes Lagoyim Street, Tel Aviv.
Subject’s partners are the only ones working in the business (same in the
recent years).
Current stock is valued at NIS 100,000 (was valued at NIS 80,000 in
2013).
Other financial data not forthcoming.
2007 sales claimed to be NIS 600,000.
2008 sales claimed to be NIS 600,000.
2009 sales claimed to be NIS 600,000.
2010 sales claimed to be NIS 600,000.
2011 sales claimed to be NIS 600,000.
2012 sales claimed to be NIS 600,000.
2013 sales claimed to be NIS 600,000.
2014 sales claimed to be NIS 600,000.
We are informed that sales pace in 2015 are similar to the previous
years.
Bank Leumi
Le’Israel Ltd., Yafo Branch (No. 801), Tel Aviv, account No. 428700/94.
A check with the
Central Banks’ database did not reveal any negative information regarding
subject’s a/m account.
Nothing unfavorable learnt.
This is a long-established, though small family business.
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.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
SAN |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
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.