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Report No. : |
331251 |
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Report Date : |
16.07.2015 |
IDENTIFICATION DETAILS
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Name : |
MIAL IMPEX 1986 LTD. |
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Formerly Known As : |
MIAL LTD |
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Registered Office : |
25 Lazarov Street, New Industrial Zone, Rishon Le-Zion, 7565431 |
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Country : |
Israel |
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Year of Establishment : |
1976 |
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Com. Reg. No.: |
51-115017-9 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in importers, exporters and
marketers of dried fruits, legumes and pulses, as well as spices |
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No. of Employees : |
22 |
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 – March 31, 2015
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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.
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Source
: CIA |
MIAL IMPEX 1986 LTD.
Telephone 972 3 941 60 10
Fax 972
3 941 60 20
Email: info@mialimpex.com
25 Lazarov Street
New Industrial Zone
RISHON LE-ZION, 7565431
ISRAEL
Originally incorporated as a private limited
company under the name of MIAL LTD., in 1976.
Following changes in the nature of business,
activities were taken over by subject, which incorporated as a private limited
company as per file
No. 51-115017-9 on the 11.11.1986.
Authorized share
capital NIS 82,640.00, divided into -
82,640 ordinary
shares of NIS 1.00 each,
of which 42,700 shares amounting to NIS 42,700.00 were issued.
1. Haim (Vitali) Levy, 33.33%,
2. Shmuel Levy, 33.33%,
3. Joseph Karako –Yagil, 33.33%.
According to the Registrar of Companies subject itself holds 23% of the shares,
equally divided between a/m shareholders.
1. Haim Levy, General Manager,
2. Shmuel Levy,
3. Joseph Karako –Yagil.
Importers, exporters and marketers of dried fruits, legumes and pulses, as
well as spices.
30% of sales are for export.
Selling dates under brand name "Bat Sheva Dates".
Among local clientele: SAMARA FOOD MARKETING, many wholesalers.
70% of purchase is from import.
Amongst local suppliers: NETA AGRICULTURAL SOCIETY, SASSON & CO.
Operating from premises (offices and a warehouse), on an area of 1,000 sq.
meters, owned by the shareholders, in 25 Lazarov Street, New Industrial Zone,
Rishon Le-Zion.
Having 22 employees (same as in the last years).
Current stock is valued at NIS 20,000,000 (similar to the several previous
years).
Property in Rishon Le-Zion where subject is operating from (owned by the
shareholders) is valued at US$ 3,000,000.
There are 17 charges
for unlimited amounts and 3 charges for the total sum of
NIS 777,080.00 registered on the company's assets (financial assets, equipment
and vehicles), in favor of The State of Israel, Bank Leumi Le'Israel Ltd., Israel Discount
Bank Ltd., Bank Hapoalim Ltd. and leasing companies (last
4 charge placed 2 in December 2012 on vehicles, and 2 in July and in December
2013 on financial assets).
2009 sales claimed to be NIS 90,000,000, 30% for export.
2010 sales claimed to be NIS 90,000,000, 30% for export.
2011 sales claimed to be NIS 90,000,000, 30% for export.
2012 sales claimed to be NIS 90,000,000, 30% for export.
2013 sales claimed to be NIS 100,000,000, 30% for export.
2014 sales claimed to be NIS 100,000,000, 30% for export.
Bank Hapoalim Ltd., Ha'aliya Branch (No. 503), Tel Aviv, account No. 174017.
Israel Discount
Bank Ltd., Tel Aviv Main Branch (No. 010), Tel Aviv,
account
No. 186619.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m accounts.
Mercantile Discount Bank Ltd., Dizengoff Branch
(No. 655), Tel Aviv.
Nothing unfavorable learned.
Subject is a long established business.
Company is ISO 9001:2000 certified.
In the past suppliers reported favorably on subject's payment morality.
According to StoreNext Market
Research survey, in 2014 sales in the FMCG bar-coded market noted 1.7% decrease
in terms of price (despite the decrease in the prices index), representing a
reverse in the rise trend in the last 3 years. The decrease in the quantity
aspect was milder – by 0.6%.
Food products sale witnessed 1.5% drop in
money terms and totaled NIS 29.09 billion, coping with slight quantity decrease
of 0.4%.
The volume of FMCG bar-coded market totaled
NIS 38.94 billion in 2014, and was divided into: 75% for food, 11% for
beverages (-2.7% in money summing up at NIS 4.24 billion, -2.8% in quantity),
and 7% for personal care goods (-3.8% in money summing up at NIS 2.72 billion,
-1.7% in quantity), and 7% for home care goods (-1% summing up at NIS 2.88
billion, though rose 1.4% in quantity).
Sales for exports by
the food products & beverages industries grew by 1.9% in 2014 from 2013,
with sales reaching US$ 1,100 million (in $ terms, though fell 4.2% in NIS
terms), after 2.2% grow in 2013. A 10.4% plunge in export was noted in the
first 5 months of 2015, compared to the parallel period in 2014.
According
to Central Bureau of Statistics (CBS), import of food and
beverages to Israel in 2014 reached NIS 7,688 million, an impressive rise by
10.7% from 2013, continuing the upward growth trend in the last years (0.7% in
2013, 14% in 2012). The positive trend continued into 2015, with import rising by 12.5% in
the first 5 months compared to the parallel period in 2014.
From the CBS
National Accounts for 2014, it turns that private consumption expenditure, in
fixed prices, grew by 4% from 2013 (rose 3.3% in 2013 and 3.1% in 2012).
Current local households' expenditure grew in 2014 by 2.8% (rose 3% in 2013),
of which expenditure on Food, Beverage &
Tobacco increased in 2014 by 3.5% (after 3.7% rise in 2013, 3.2% in
2012).
Per-capita
expenditure in 2014 rose by 2% (after rise of 1.4% in 2013 and 1.2% in 2012).
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.38 |
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1 |
Rs.99.13 |
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Euro |
1 |
Rs.69.69 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ASH |
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.