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Report No. : |
319726 |
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Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
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Name : |
BUCHMAN FEDER PACKAGING LTD. |
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Formerly Known As : |
B.F. YARN IMPORT AND TRADING LTD F.L.B. YARN IMPORT AND TRADING LTD B.F. IMPORT AND GENERAL TRADE LTD. |
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Registered Office : |
Bnei Brit Ave., Hanamal Junction, Ashdod, P.O. Box 5184, Tel Aviv 610510 |
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Country : |
Israel |
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Date of Incorporation : |
05.12.1988 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders,
Importers and Marketers of Packaging Materials (Various Kinds of Sacks), and
Allied Products. |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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) |
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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 |
BUCHMAN FEDER PACKAGING LTD.
Telephone: 972 3 518 03 35
Fax: 972 3 681 65 81
Email: info@bfimport.com
Physical Address:
Bnei Brit Ave.
Hanamal Junction
ASHDOD ISRAEL
Mailing Address:
P.O. Box 5184
TEL AVIV 6105101 ISRAEL
A private limited
company incorporated as per file No. 51-134002-8 on the 05.12.1988, continuing
activities which began in 1926 by BUCHMAN ITZHAK & SONS LTD., which later
merged with TECHNO HUT LTD.
Originally registered under the name of B.F. YARN IMPORT AND TRADING LTD., which changed to F.L.B. YARN IMPORT AND TRADING LTD. on the 21.2.1992, which changed to B.F. IMPORT AND GENERAL TRADE LTD. on
the 01.02.1998, which changed to the present name on the 23.07.2007.
Authorized share
capital NIS 10,000.00, divided into -
10,000 ordinary
shares of NIS 1.00 each, of which 300 shares amounting to NIS 300.00 were
issued.
1. Pinhas Feder, 50%,
2. Idan Hami, 50%.
1. Idan Hami, General Manager,
2. Pinhas Feder.
Traders, importers
and marketers of packaging materials (various kinds of sacks), and allied
products.
Having some 1,000
clients.
Among clients: SUGAT,
DEAD SEA WORKS, HAIFA CHEMICALS, ISRAEL CHEMICALS, HAZERA, HAMAMA, STYBEL,
TNUVA, EGO GROWERS, MILOUBAR CENTREAL FEED MILLS, etc.
Operating
from premises, owned by shareholders, on an area of 2,000 sq. meters, in Bnei
Brit Ave., Hanamal Junction, Ashdod.
Having 25
employees (same as in the beginning of 2013).
Current stock is
valued at NIS 6,000,000
Other financial
data not forthcoming.
There are 7 charges for unlimited amounts,
as well as 2 charges for the total sum of NIS 416,170 registered on the
company's assets (financial assets, fixed assets and vehicles), in favor of
Bank Leumi Le'Israel Ltd. and a leasing company (last charge placed February
2015).
2010 sales claimed
to be NIS 30,000,000.
2011 sales claimed
to be NIS 31,000,000.
2012 sales claimed
to be NIS 33,000,000.
2013 sales claimed
to be NIS 34,000,000.
2014 sales claimed
to be NIS 35,000,000.
Affiliated companies:
FEDER LTD.,
ITZHAK BUCHMAN
& SONS LTD.
Bank Leumi Le'Israel
Ltd., Hahashmona'im Business Branch (No. 817), Tel Aviv, account No. 423300/78.
A check with the
Central Banks’ database did not reveal any negative information regarding
subject’s a/m account.
Nothing
unfavorable learned.
Subject's activities are long established.
Subject is ISO 9001:2008 and UKAS certified.
The Central Bureau of Statistics (CBS) data
reveals that investments by the local manufacturing industries in machinery
& equipment (M&E) in 2014 rose by 3.2% from 2013, after a decrease by
12% and by 3% in 2013 and 2012, respectively from the previous year. The
investments whose source was from import, which comprised 66.6% of total
investment by the industries in M&E, rose by 4.7% (after falling 19.4% the
previous year), while investments whose source was from local manufacturing
increased by 0.3% in 2014 (rose 7.7% in 2013).
Gross
Domestic Capital Formation (investment) in machinery & other equipment in 2014 reached NIS 40,031 million in current prices (NIS 38,659
million in 2013), of which NIS 26,669 million was from imports production (NIS
25,410 million) and NIS 13,362 million from domestic production (NIS 13,248
million in 2013).
The
CBS data on import of investment goods: import of machinery and equipment in
2014 rose 2.9% from 2013, reaching US$ 5,890 million.
Good for trade engagements.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.63.58 |
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|
1 |
Rs.97.99 |
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Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
NIT |
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 |
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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.