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Report No. : |
328808 |
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Report Date : |
29.06.2015 |
IDENTIFICATION DETAILS
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Name : |
AQUA CREATIONS LTD. |
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Registered Office : |
29 Ben Zvi Rd. Tel Aviv 6810310 |
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Country : |
Israel |
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Date of Incorporation : |
04.01.1994 |
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Com. Reg. No.: |
51-191251-1 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers, exporters and marketers of unique designed lighting fixtures, as well as furniture, of very high end |
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No. of Employees : |
55 |
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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 |
AQUA CREATIONS
LTD.
(Also known as
AQUA CREATIONS LIGHTING AND FURNITURE ATELIER)
Telephone 972
3 515 12 22
Fax 972
3 515 12 23
Email: info@aquagallery.com
29 Ben Zvi Rd.
TEL AVIV 6810310 ISRAEL
A private limited
company, incorporated as per file No. 51-191251-1 on the 04.01.1994.
Originally
registered under the name ALEBY & CO. LTD., which changed to the present
one on the 17.02.1997.
Authorized share
capital NIS 22,900.00, divided into:-
22,900 ordinary shares of NIS
1.00 each,
of which 300
shares amounting to NIS 300.00 were issued.
1. Albi Serfaty, 75%,
2. Yuval Levi, 25%.
In December 2013
it was reported that Ms. Ayala Serfaty, who held 47.4% of subject and was chief
designer, left subject (as well as splitting from her husband Albi Serfaty).
Albi Serfaty.
Manufacturers,
exporters and marketers of unique designed lighting fixtures, as well as
furniture, of very high end.
Also carries out
lighting and furniture interior design projects.
99% of subject’s
sales are exports, worldwide (as of 2012).
Among local
clientele: EXCLUSIVE LIGHTING AND FURNITURE
Operating from
rented premises (offices, plant and warehouse), on an area of 6,000 sq. meters,
in 29 Ben Zvi Road, Tel Aviv.
Had 55 employees in
mid 2012, current number of employees not forthcoming.
Work is according
to orders
Financial data not
forthcoming.
There are 4
charges for an unlimited amounts registered on company’s assets (3 on financial
assets and 1 on a vehicle), in favor of Bank Leumi Le’Israel Ltd. and Mizrahi
Tefahot Bank Ltd. (last charge placed in September 2013 on financial assets).
Sales figures not forthcoming.
AQUA CREATIONS
INC., a U.S. marketing subsidiary.
According to a
report from August 2008 subject has a subsidiary in Chinghai, China.
Bank Leumi
Le’Israel Ltd., Gordon Branch (No. 804), Tel Aviv.
Nothing
unfavorable learned.
So far we could not
contact subject's General Manager, Mr. Albi Serfaty, being told he is out of
office. We left a message on his cellular phone (+972-54) 4690000. In case we
receive further data, we shall update you accordingly.
Ms. Ayala Serfaty
(who left subject in December 2013) is world renown designer of sculptural
lighting elements. Her (and subject’s) articles are presented in leading
museums, galleries and other public places around the world.
In July 2007, it
was reported that subject filed a request to the Court to prevent local leading
furniture chain ID Design, from selling subject’s lampshades in their stores,
as subject is the sole marketer of the designed lighting elements.
Notwithstanding the
lack of updated data from subject's officials, as well as the departure of Ms.
Ayala Serfaty, we figure subject is still good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs. 63.60 |
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|
1 |
Rs. 100.09 |
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Euro |
1 |
Rs. 71.23 |
INFORMATION DETAILS
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Analysis Done by
: |
SAN |
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Report Prepared
by : |
DPT |
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.