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Report No. : |
323993 |
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Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
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Name : |
TEXTILE GLORIA LTD |
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Registered Office : |
8 Hashomer Street Tel Aviv 6560108 |
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Country : |
Israel |
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Date of Incorporation : |
13.02.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Imports and marketers fabrics (also bridal
fabrics) and haberdashery. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Israel |
A2 |
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 |
TEXTILE GLORIA LTD.
(Also known as
GLORIA FABRICS LTD)
Telephone 972 3 516 33 97
Fax 972
3 516 82 98
8 Hashomer Street
TEL
AVIV 6560108 ISRAEL
A private limited company, incorporated as
per file No. 51-365286-7 on the 13.02.2005.
Authorized share capital NIS 38,100.00,
divided into -
38,100
ordinary shares of NIS 1.00 each,of which 100 shares amounting to NIS 100.00
were issued.
Subject is fully owned by Ms. Gloria
Abuhasera.
Ms. Gloria Abuhasera.
Kobi.
(we were given only first name, surname name
not forthcoming)
Imports and marketers fabrics (also bridal
fabrics) and haberdashery.
Since we could not speak to subject's
General Manager, we could not confirm the exact activity.
Operating from premises in 8 Hashomer
Street, Tel Aviv. This address was confirmed by subject's CPA (who refused to
disclose any other detail).
According to trade directories, as well as
the Telephone Directory, subject's address is in 153 Menachem Begin Blvd.,
Ashdod.
Number of employees not forthcoming.
Financial data not forthcoming.
There are 2 charges for unlimited amounts registered on the company's
assets (financial assets), in favor of The First International Bank of Israel
Ltd. and Poalei Agudat Israel Bank Ltd. (charges placed January 2008).
Sales figures not forthcoming.
Bank data not forthcoming.
Nothing unfavorable learned.
Despite our efforts, we were unable to speak
to subject's General Manager. We called the office several times, being told he
is not in.
We called subject's CPA, Yaakov
(+972-54-7511728), who referred us to the subject's General Manager, Mr. Kobi
(refusing to disclose his last name), giving us his cellular phone no.
(+972-53-5701212). We called several times receiving no answer, nor did he
return to us.
We called the telephone number registered in
the telephone directory in the a/m Ashdod address (+972-8-8557737), receiving
no answer.
Dealings are recommended on cash in advance
basis only.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.61 |
|
|
1 |
Rs.97.27 |
|
Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
VNT |
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.