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Report No. : |
333607 |
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Report Date : |
31.07.2015 |
IDENTIFICATION DETAILS
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Name : |
SENETIC ISRAEL
LTD. |
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Formerly Known As : |
SENETIC GROUP ISRAEL LTD |
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Registered Office : |
98 Igal Alon Street , Electra Tower, Tel
Aviv, 6789141 |
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Country : |
Israel |
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Date of Incorporation : |
06.08.2014 |
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Com. Reg. No.: |
51-511799-2 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is Importers, marketers and distributors of IT products
(hardware and software) in the field of computing and telecommunication. |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRAs Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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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.
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Source
: CIA |
In absence of financials, no credit limit could be recommended.
SENETIC ISRAEL LTD.
Telephone 972 3 720 73 26
Fax 972 3
276 69 18
Email:
info@senetic.co.il
98 Igal Alon Street
Electra Tower
TEL
AVIV, 6789141, ISRAEL
A private limited company, incorporated as
per file No. 51-511799-2 on the 06.08.2014 under the name SENETIC GROUP ISRAEL
LTD., which changed to the present name on the 18.09.2014.
Authorized share capital NIS 1,000.00,
divided into -
1,000 ordinary shares of NIS 1.00 each,
fully issued.
Subject is fully owned by SENETIC S.A. of
the SENETIC Group, based in Poland.
Marzin Bialozit (name may be spelt
differently).
Tome Shitrit.
Importers, marketers and distributors of IT
products (hardware and software) in the field of computing and
telecommunication.
Sales are to municipalities, organizations,
companies, businesses, law offices, etc.
Among suppliers: SENETIC, MICROSOFT,
MOTOROLA, SYMANTEC, NEXAN, HP, JUNIPER, IBM, DELL, APC, CISCO, MICROTIK,
LENOVO, VMWARE, NETGEAR, QNAP, and more.
Operating from premises in 98 Igal Alon
Street, Electra Tower, Tel Aviv.
Number of employees not forthcoming.
Financial data not forthcoming.
There is 1 charge for an unlimited amount registered on the company's
assets (financial assets bank account), in favor of Bank Leumi Le'Israel Ltd.
(charge placed September 2014).
Sales figures not forthcoming.
SENETIC, providers of network, server and
software solutions of global brands.
Bank Leumi Le'Israel Ltd., Hahalacha Branch
(No. 666), Ramat Gan, account No. 274711/27.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
Nothing unfavorable learned.
Subject's General Manager refused to
disclose financial and employee data.
The local IT
market experienced constant, though gradual, growth in 2004-2007 and grew just marginally
in 2008, remained steady during 2009 (reflecting the slow-down in local
economy) and started recovery only by 2010, onwards to 2013.
According to a survey by research firm STKI,
the expenditure on Information Technology (IT) services expenses by for
organizations (excl. home market) in 2012 reached US$ 6.73 billion. The public sector captures 32% of total expenditures
(with the Government sector capturing some 20% of the market), the financial
sector 21%, the commercial/retail sector 15%, Hi-Tech & IT secor
13.5%, Transportation & Infrastructure 9%, communications & media
5% and SMEs 4.5%.
Expenditure on IT
reached US$ 3,097 million in 2012 (comparing to US$ 2,953 million in 2011),
divided into US$ 1,778 million on hardware (4% increase from 2011), US$ 1,269
million on software (6% increase), US$ 42 million on SAAS (5% rise), and US$ 8
million on cloud services (33% growth from 2011).
The forecast for
expenditure in 2013 is to grow to US$ 3,244 million.
In February 2013
it was reported that the IT sector was Israel's 2012 main export sector
(excluding diamonds), with a total of US$ 7.7 billion export.
Considering the refusal to disclose
financial and employee data, dealings are recommended on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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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 : |
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 |
-- |
This score serves as a reference to assess SCs
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.