MIRA INFORM REPORT
|
Report No. : |
332377 |
|
Report Date : |
22.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
MINA A.H - IMPORTING LTD. |
|
|
|
|
Registered Office : |
P.O.
Box 5684, Taufik Ziad Street, Industrial Zone, Shfaram 2020000 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
15.10.2012 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importers and Marketers of Plastic Cups, Beverages and Other Products. |
|
|
|
|
No. of Employees : |
12 Employees. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
Company
Name and address
MINA A.H - IMPORTING LTD.
Telephone 972 4 950 49 65
Fax 972 4 950 49
56
P.O. Box 5684
Taufik Ziad Street
Industrial Zone
SHFARAM
2020000 ISRAEL
HISTORY
& LEGAL FORMATION
A private limited company, incorporated as
per file No. 51-482565-2 on the 15.10.2012.
SHARE
CAPITAL
Authorized share capital NIS 100.00, divided
into -
100 ordinary
shares of NIS 1.00 each, fully issued.
SHAREHOLDERS
Subject is fully owned by Amar Hassan.
SOLE
DIRECTOR & GENERAL MANAGER
Amar Hassan.
BUSINESS
Importers and marketers of plastic cups,
beverages and other products.
Also operating a supermarket in Baqa El
Gharbiya.
Operating from premises, partly owned partly
rented, on an area of 300 sq. meters, in Taufik Ziad Street, Industrial Zone,
Shfaram, and from rented supermarket premises, on an area of 1,000 sq. meters,
in Baqa El Gharbiya.
Having 12 employees.
MEANS
Current stock is valued at NIS 1,800,000.
Other financial data not forthcoming.
There are 5 charges for unlimited amounts registered on the company's
assets (all assets), in favor of Bank Hapoalim Ltd. (last charge placed
February 2015).
REVENUES
2014 sales claimed to be NIS 12,000,000.
First 6 months of 2015 sales claimed to be NIS 11,000,000.
The growth in 2015 sales is attributed to the increasing supermarket and
import activities.
OTHER
COMPANIES
ALTANUR BAKERY LTD., sister company,
established 2006, operating 4 bakeries (2 in Sfaram, Nazareth and Kfar Yasif),
2014 sales claimed to be NIS 18,000,000, having 30 employees.
BANKERS
Bank Hapoalim Ltd., Nazareth Illit Branch
(No. 733), Nazareth Illit.
Subject operates 2 bank accounts, 1 for the
import and 1 for the supermarket.
Account No. 240220 – supermarket
Account No. 219450 – import
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m accounts.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
From the Central
Bureau of Statistics (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). Per-capita expenditure in 2014 rose by 2% (after rise of
1.4% in 2013 and 1.2% in 2012).
Consumption
expenditure by households on semi-durable goods rose in 2014 by 7.6% from 2013
(after 1.8% rise in 2013, and 7.4% in 2012), of which expenditure on Clothing
and Footwear in 2014 rose by 10.7% from 2013 (after 2.2% rise in 2013 and by
8.5% in 2012).
According the CBS, import of
consumer goods in 2014 marked 8% increase (in NIS terms), compared to 2.2%
increase in 2013, and by 2% in 2012. A breakdown shows a 9.8% rise in 2014 in
durable goods, while import in non-durable goods rose by 6.8%.
Most import comes
from China. Main other countries of origin for textile goods are France, Italy,
Hong Kong and Turkey, Spain and the U.S.A.
Import of
Household Utensils in 2014 climbed by 7.6% (in NIS terms, 9% in $ terms),
compared to 2.5% in 2013, and summed up to NIS 2,739 million in 2014.
SUMMARY
Good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.65 |
|
|
1 |
Rs.99.14 |
|
Euro |
1 |
Rs.68.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
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.