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Report No. : |
329917 |
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Report Date : |
09.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ROTEM SAFETY LTD. |
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Registered Office : |
Rotem Industries
Park, Mishor Yamin, P.O. Box 9046 Beer Sheva 8419001 |
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Country : |
Israel |
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Date of Incorporation : |
01.01.2007 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designers, manufacturers, importers, exporters
and marketers of safety, health and environmental care products. |
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No. of Employee : |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
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Israel |
B1 |
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 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 |
ROTEM SAFETY LTD.
(Using trade name
ROTEM HEALTH AND SAFETY)
Telephone 972 8 657 03 03
Fax 972 8 655
25 65
Email: info@rotemsafety.co.il
Physical Address
Rotem Industries
Park, Mishor Yamin
Mailing Address
P.O.
Box 9046
BEER SHEVA 8419001 ISRAEL
A private limited company, incorporated as per
file No. 51-391217-0 on the 01.01.2007.
Subject was established in 1998 as a
department within State-owned ROTEM INDUSTRIES LTD. (established in 1970), and
incorporated in 2007 as a spin-off from ROTEM INDUSTRIES in the framework of a
privatization move.
Authorized share capital NIS 1,000,000.00,
divided into -
1,000,000 ordinary shares of NIS 1.00 each,
of which 1,000 shares amounting to NIS
1,000.00 were issued.
1. ROTEM INDUSTRIES LTD., 35%, fully owned by
the State of Israel, under the auspices of the Prime Minister's Office,
2. SHALON CHEMICAL INDUSTRIES LTD., 35%, owned
by BOBAR LTD., controlled by Ram Baharad and Arie Barel,
3. A.B.S.G HOLDINGS LTD., 30%, owned by Avi
Betesh and Ms. Sara Betesh.
1. Dan Pe'er, General Manager of ROTEM
INDUSTRIES,
2. Amir Giora,
3. Michael Barel.
Avi Betesh.
Designers,
manufacturers, importers, exporters and marketers of safety, health and
environmental care products.
Also
performing lab quality and safety inspections and maintenance.
Sales
are to international corporations, companies, military and national security
forces, traders, etc.
Among
clientele: Ministry of Defense, The Fire & Rescue Services, ISSRAEL
RAILWAYS, TECHNOMETAL, and many more.
Sole
local representatives of (among many):
SCOTT
HEALTH AND SAFETY, NORTH SAFETY, SALISBURY, INDUSTRIAL SCIENTIFIC, ELVEX,
JUSTRITE, all of USA,
PIERCAN,
of France,
PAN
TAIWAN, of Taiwan.
Among
local suppliers: TSOOCK SECURITY TECHNOLOGIES.
Operating from offices, plant and storage facilities, on an area of
7,500 sq. meters (State owned), in Rotem Industries Park (formerly Temed Park),
Mishor Yamin, near Dimaona, in the Negev region (Mobile Post Arava). Premises
serve also parent company ROTEM INDUSTRIES.
Number of
employees not forthcoming, known to be over 20 employees.
Subject's financial data not forthcoming.
Last available consolidated B/S data of
parent company ROTEM INDUSTRIES:
(NIS
thousands)
31.12.2009 31.12.2010
Total
assets 49,651 48,712
Equity 30,744 34,177
There are no charges registered on the company's assets.
2010 consolidated
sales of
ROTEM INDUSTRIES were NIS 83,527,000,
making with a net profit of NIS 3,631,000.
ROTEM INDUSTRIES LTD., operating in several
lines of activities, including research, development, manufacturing, export and
marketing of radiation control systems, as well as implementation and
commercialization arm of the Nuclear Research Center in Dimona and management
of Rotem Industries Park. Holds:
ROTEM MAGEN LTD.,
50%, advanced safety solutions.
ROTEM INC., USA,
100%, marketing of enriched water in the USA.
ROTEM GMBH,
Germany, 100%, marketing of enriched water in Europe.
ROTEM VENTURES [formerly
A.T.C. (ADVANCED TECHNOLOGIES CENTRE) TEMED LTD.], 20%, a Technological
Incubator for support in start-ups, providing the portfolio companies with
financial backing and strategic connections.
ROTEM ASIA LTD.,
50%, partner in XI'AN XNIF ROTEM INSTRUMENTS (XXRI) LTD., analytical instruments for the
cement industry.
T.K. SIGNAL,
5.40%, R&D in cancer diagnostics.
MAGTECH
TECHNOLOGIES LTD., 20%, development of magnesium design technology.
NEGEV SOFTWARE
INDUSRIES LTD., 33%, software engineering and testing, data processing embedded systems.
Also has holding in several start ups.
SHALON CHEMICAL INDUSTRIES LTD.,
incorporated 1967, manufacturers, marketers and exporters of respirators
systems and NBC (Nuclear-Biological-Chemical) protective systems, both for the
military and the non-military fields
Bank data not forthcoming.
Nothing unfavorable learned.
Despite our efforts, we were unable to speak with subject's officials
including General Manager, as they were always unavailable. We left messages
which so far remain unanswered.
In November 2011 it was reported that The
State Comptroller is investigating if there have been irregularities in the framework
of subject's privatization process, as there may be evident that there may be
connections between subject's current shareholders and ex-senior officials in
the governmental entity, the Nuclear Research Center (NRC, where ROTEM
INDUSTRIES is NRC's commercialization arm). We found no further data on matter.
Subject is ISO 9001:2008 certified.
ROTEM INDUSTRIES
is recognized worldwide for its technologies, and a leading company in its
fields in Israel.
Notwithstanding the refusal to disclose
details, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.98.22 |
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Euro |
1 |
Rs.69.93 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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.