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Report No. : |
319674 |
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Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SABECO TECHNICAL SUPPLIES LTD. |
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Registered Office : |
P.O. Box 13271, 1 Nahal
Poleg Street, Northern Industrial Zone, Yavne 8122315 |
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Country : |
Israel |
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Date of Incorporation : |
15.11.2009 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and Marketers
of Technical Supplies and Tools (Electrical, Garden, Hand). |
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No. of Employees : |
30 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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.
|
Source
: CIA |
SABECO TECHNICAL SUPPLIES
Correct Name: SABECO TECHNICAL SUPPLIES LTD.
Telephone 972 8 942 62 89
Fax 972 8 933 04 41
Email:
sabeco@netvision.net.il
P.O.
Box 13271
1 Nahal Poleg
Street
Northern
Industrial Zone
YAVNE
8122315 ISRAEL
A private limited company, incorporated as per file No. 51-434947-1 on
the 15.11.2009.
Subject was established to assume (as of 01.01.2010) all business
activities of SABECO IMPORTERS – TRADE CO. LTD. (established on
28.11.1985.), which were acquired by KOL MATEHET MADAN LTD., on the 31.12.2009,
who transferred the activities to subject.
SABECO IMPORTERS became inactive.
Authorized share capital NIS 1,000.00, divided into -
1,000 ordinary
shares of NIS 1.000 each, fully issued.
Subject is fully
owned by KOL MATEHET MADAN LTD., owned by Herzl
Mesika.
Herzl Mesika.
Ami Mesika, son of
Herzl Mesika.
Importers and Marketers
of Technical Supplies and Tools (Electrical, Garden, Hand).
Subject offers some 3,000 items.
Sales are to over 1,000 professional customers, retail & wholesale,
in the building, carpentry, plumbing, iron-mongering, garages, etc.
Most of purchase in import.
Among suppliers (subject may be sole local representatives of some
however we could not confirm this):
TRUPER, STANLEY, ASAKI, SAKOM, SPARK, WISS, BLOSTA, VISE-GRIP, TAPARIA,
TALBRO.
Operating from rented premises, on an area of 3,000 sq. meters, in 1
Nahal Poleg Street, Northern Industrial Zone, Yavne.
Note: Subject does not operate from Ashdod (which you also mentioned in the
address).
Having 30 employees.
Stock was valued at over NIS 5,000,000 as of mid 2010.
Other and later financial data not forthcoming.
There are 4 charges for unlimited amounts,
as well as 1 charge for the sum of NIS 264,000 registered on the company's
assets (financial assets and vehicles), in favor of Bank Leumi Le'Israel Ltd.
(last 3 charges placed December 2012-January 2013).
2010 first 5 months sales claimed to be NIS
7,500,000.
Later sales data not forthcoming.
KOL MATEHET MADAN LTD., parent company,
suppliers and marketers of tools, equipment, construction material, steel, etc.
Had 44 employees in 2010.
Bank Leumi
Le'Israel Ltd., Ashdod Business Branch (No. 618), Ashdod.
Bank Hapoalim
Ltd., Ashdod Business Branch (No. 399), Ashdod.
Nothing
unfavorable learned.
Subject's General Manager refused to update financial data.
In September 2010
it was reported that SAP assimilated their and ERP system in subject, designed
for import inventory management.
Installation performed by R.E.L.S ADVANCED TECHNOLOGY, as continuous to
the system installed in parent company KOL MATEHET MADAN.
The volume of project in both subject and parent is NIS 300,000.
From the Central Bureau of Statistics (CBS)
data on gross imports of investment goods reveals that the segment of import of
Tools, Implements & Accessories rose in 2014 by 8% from 2013, and totaled
US$ 1,280.3 million. In 2013 import of such rose by 1.5% from 2012.
The 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).
Notwithstanding the refusal to disclose
financial details, considered 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.58 |
|
|
1 |
Rs.97.99 |
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Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.