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Report No. : |
333488 |
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Report Date : |
31.07.2015 |
IDENTIFICATION DETAILS
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Name : |
R.N. STERNPLAST LTD. |
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Formerly Known As : |
STERN PACKAGING LTD |
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Registered Office : |
Mobile
Post Lachish Darom Sde Yoav 7935100 |
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Country : |
Israel |
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Date of Incorporation : |
2012 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers (via subcontractors in
India), exporters and marketers of flexible packaging. |
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No. of Employee : |
4 |
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 : |
Slow but correct |
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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.
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Source
: CIA |
R.N. STERNPLAST LTD.
Telephone 972 8 677 18 11
Fax 972 8 677 18
11
Mobile Post
Lachish Darom
SDE
YOAV 7935100 ISRAEL
Originally established as a sole
proprietorship in 2012.
Converted into a private limited company and
registered as such as per file
No. 51-489890-7 on the 22.04.2013 under the
name STERN PACKAGING LTD., which changed to the present name on the 08.08.2013.
Authorized share capital NIS 10,000.00,
divided into -
100
ordinary shares of NIS 100.00 each,
fully issued.
1. Ran
Stern, 50%,
2. Niv
Stern, 50%.
1. Ran
(Rani) Stern,
2. Niv
Stern., son of Ran Stern.
Manufacturers (via subcontractors in India),
exporters and marketers of flexible packaging.
20% of sales are export in 2014, 10% in
2013, all over the world.
Work is according to orders.
Operating from premises, owned by Kibbutz
Sde Yoav, on an area of 35 sq. meters, in Kibbutz Sde Yoav.
Note: Subject does not pay rental fees, as
it has an arrangement with Kibbutz Sde Yoav.
Having 4 employees (including shareholders),
had 2 employees (shareholders) in the end of 2013.
Financial data not forthcoming.
There are 3 charges for unlimited amounts, as well as 1 charge for the
sum of NIS 125,000 registered on the company's assets (financial assets and a
vehicle), in favor of Bank Hapoalim Ltd. and Bank Leumi Le'Israel Ltd. (last 2
charges placed April-July 2015 on financial assets).
2013 sales claimed to be NIS 1,000,000, 10% for export.
2014 sales claimed to be NIS 4,000,000, 20% for export.
Bank Hapoalim Ltd., Nehora Branch (No. 670),
Nehora, account No. 148520.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
Nothing unfavorable learned.
Rani Stern has vast experience and
connections in the packaging industry. Prior to establishing subject, he served
as a co-general manager in C.L.P INDUSTRIES LTD., a veteran and among the
leading local companies in the packaging field (he retired from C.L.P in
January 2012). Mr. Strern was also a director in several large industrial
companies.
According
to the Chairman of the Packaging and Design Institute the branch sales by
packaging industries in 2010 amounted to over US$ 1 billion, some 70% are sales
to the local market, and some 30% sales for export.
There are some 120
packaging production plants in Israel, directly employing some 9,400 employees
as of 2010.
During 2010,
packaging in value of US$ 250 - 300 million was imported to Israel.
According to a
market research firm published in mid 2014 (ordered by the Ministry of
Economy), total revenues of the local Plastic & Rubber Industry reached US$
5 billion (return to the levels in 2007, prior to the global economic crisis,
when revenues fell and started to climb back since 2010), half of which was for
export (which is comprise US$ 2.3 billion from goods, the rest from raw
products). Sales breakdown: 30% of the branch's sales are for the Household,
23% - Agriculture, 16% - Packaging, 9% - Building sector, 9% Industry, 5%
Furniture, 4% - Compounds (rest is to other fields).
There were 23,700
workers employed in the Plastic & Rubber branch in 2013.
According to the Central Bureau of Statistics (CBS), sales for export
from the manufacturing of Plastic and Rubber products in 2014 climbed by 6%
from 2013 up to US$ 2,086 million, continuing the upward trend from 2013 (rose
7.6% from 2012, after it fell by some 3% in 2012 from 2011). The export
witnessed a reverse trend in the first 5 months of 2015 with 7.8% decrease
compared to the parallel period in 2014.
According to the
CBS, import of Plastic and Rubber raw material for the local industry in 2014
summed up to US$ 2,518 million, up 4.5% from 2013 (in $ terms, rose by 2.7% in
2013 from 2012). Yet, a 17% decrease in import was marked in the first 5 months
of 2015 compared to the parallel period in 2014.
Plastic &
rubber raw materials consumption by the local industry is of around 1 million
tons, 70% of which derives from import, the rest from local production (which
is comprised mainly of simple raw materials).
Investment in imported machinery and equipment by the Plastic &
Rubber industries rose in 2014 by 5.5% from 2013, totaling NIS 410.4 million.
This is after a decrease in 2013 by 18% from 2012.
Good for trade engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.01 |
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|
1 |
Rs.99.83 |
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Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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 |
-- |
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.