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Report No. : |
332856 |
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Report Date : |
29.07.2015 |
IDENTIFICATION DETAILS
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Name : |
LUXEMBOURG BIO TECHNOLOGIES
LTD. |
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Registered Office : |
P. O. Box 4133 (7414002),
8 Pinhas Sapir Street, Science Park Nes Ziona 7403631 |
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Country : |
Israel |
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Date of Incorporation : |
06.01.2008 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Developers of chemistry procedures, manufacturers (via subcontractors)
and international traders in chemicals, dealing mainly with reagents such as
COMU, HDMC, OxymaPure, PyClock , PyOxim and others. |
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No. of Employees : |
6 |
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) |
|
Israel |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
LUXEMBOURG BIO TECHNOLOGIES LTD.
(Also known as LBT)
Telephone 972
8 946 60 40
Fax 972
8 946 64 02
Email:
main@peptide-and-dna.com
P. O. Box 4133 (7414002)
8 Pinhas Sapir Street
Science Park
Nes Ziona 7403631 Israel
A private limited company, incorporated as per file No. 51-407629-8 on the
06.01.2008.
Subject was founded as a spinoff of LUXEMBOURG INDUSTRIES LTD. (owned by
the Luxembourg family), founded in 1997, itself continuing activities which
began in 1930.
Authorized share capital NIS 100,000.00, divided into -
9,999,471
ordinary shares (1,177 shares issued),
529 deferred shares (issued), all of NIS 0.01 each, of
which 1,000 shares amounting to NIS 17.06 were issued.
Subject is fully owned by Y.L EVEN-HAROSHE HOLDINGS LTD., fully owned by Yoav Luxemburg,
According to the Registrar of Companies, In February 2015 .L EVEN-HAROSHE
acquired the holdings of SHARON O.S.R. HOLDINGS LTD. (owned by Sharon Rahamim, held 15% of ordinary shares and 66.5% of deferred shares issued), and
reached full ownership.
Note: Registration date in the Registrar of
Companies is not necessarily the date the transaction took place.
Yoav Luxemburg
Developers of chemistry procedures, manufacturers (via subcontractors) and
international traders in chemicals, dealing mainly with reagents such as COMU,
HDMC, OxymaPure, PyClock , PyOxim and others.
98% of sales are export.
Local sales are to TEVA PHARMACEUTICAL INDUSTRIES.
Among foreign clients: CHEMGO (Switzerland).
Operating from rented premises, on an area of 300 sq. meters, 8 Pinhas
Sapir Street Science Park, Nes Ziona.
Subject has 2 logistics partners in Europe and 1 in the USA.
Having 6 employees.
Financial data not forthcoming.
There is 1 charge for an unlimited amount registered on the company's
assets (all assets), in favor of Bank Leumi Le’Israel Ltd. (harges placed in 2008).
Sales figures not forthcoming.
Yoav Luxemburg holds 12% in LUXEMBOURG PAMOL LTD., a holding company (remaining shares
held by Yoav brothers David and Itzhak Luxembourg), founded in the 1930s and
incorporated in 1968. This company fully owns LUXEMBOURG INDUSTRIES LTD., incorporated
in 1997 (assuming LUXEMBOURG PAMOL's activities), manufacturers, exporters and
marketers of chemicals, agro-chemicals, raw and intermediate materials for the
pharmaceutical and bio-technology fields. Having 174 employees, 2014 sales US$
53 million. Holds the following 4 subsidiaries:
LUXEMBOURG-PAMOL
INC., 100%, USA,
LUXEMBOURG PAMOL
(CYPRUS) LTD., 100%, Cyprus,
LUXEMBOURG BRASIL
LTDA., 100%, Brazil,
LUXEMBOURG D.O.O.,
100%, Serbia.
LUXEMBOURG HOLDINGS (1955) LTD., real estate holding.
Luxembourg family
also holds other real estate holdings companies.
Bank
Leumi Le’Israel Ltd., Principal Branch Tel Aviv (No. 800), Tel Aviv.
Nothing unfavorable learned.
Subject's General Manager, Yoav Luxemburg, refused to
disclose financial data.
Subject is ISO
9001:2008 certified.
LUXEMBOURG INDUSTRIES LTD. is a long established family business, enjoying
good reputation. It should be noted, however, that although subject is
affiliated to LUXEMBOURG INDUSTRIES, it is not considered as the same group and
business activities are separate (a spinoff).
From the Ministry
of Economy publication, total estimated revenues of the local Chemical &
Oils Industrial branch in 2012 amounted to NIS 120 billion (comprising some 30%
of Israel’s total industrial turnover), divided into: Refinery, Petrol &
Petrochemicals - NIS 55 billion; Pharmaceuticals - NIS 32 billion; Sub-branches
– NIS 22 billion (incl. industrial chemicals, pesticides & disinfections
materials, and fertilizers); Others – NIS 11 billion (incl. paints, cosmetics,
cleaning materials and other chemistry products).
The revenues were
generated from some 115 plants in the branch.
Sales for export
by the Chemicals Manufacturing Industry in 2014 reached US$ 10,971 million, representing
2.5% decrease from 2013, after in 2013 export witnessed 18% increase from 2012.
According to
Central Bureau of Statistics data, investments in imported machinery &
equipment for the Chemical Industries (incl. pharmaceuticals, excl. oil refinery)
in 2013 summed up to NIS 717.6 million, similar to 2012 level (where 2012 saw a
sharp decrease of over 20% from 2011, after over 50% increase in real terms in
2011).
Notwithstanding the refusal to disclose financial
details, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.03 |
|
|
1 |
Rs.99.72 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
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.