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Report No. : |
320672 |
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Report Date : |
21.05.2015 |
IDENTIFICATION DETAILS
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Name : |
LGM FHARMA (YES PHARMA) LTD. |
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Formerly Known As : |
YES PHARMA LTD |
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Registered Office : |
15 Hamelacha
Street, Har Tuv A Industrial Park, Nocham Enterprises
Har-Tuv 9980101 |
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Country : |
Israel |
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Date of Incorporation : |
17.01.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Agencies in the
field of raw materials for the pharmaceutical branch (pharma Intermediates,
Active Pharmaceuticals Ingredient's (APIs), formulations to
biopharmaceuticals). |
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No. of Employees : |
16 Employees |
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.
|
Source
: CIA |
L G M PHARMA
Correct Name: LGM FHARMA (YES PHARMA) LTD.
Telephone 972 2 992 99 33
Fax 972 2 992 99 55
Email:
info@yespharma.com
15 Hamelacha Street
Har Tuv A Industrial
Park
NOCHAM ENTERPRISES HAR-TUV 9980101 ISRAEL
A private limited company, incorporated as per file No. 51-363979-9 on
the 17.01.2005.
Originally registered under the name YES PHARMA LTD., which changed to
the present name on the 14.04.2015.
Authorized share capital
NIS 10,000.00, divided into -
1,000,000 ordinary
shares of NIS 0.01 each, of which 10,000 shares amounting to NIS 100.00 were
issued.
Subject is fully
owned by Gideon Schurder.
Gideon Schurder, born in 1976.
Agencies in the
field of raw materials for the pharmaceutical branch (pharma Intermediates,
Active Pharmaceuticals Ingredient's (APIs), formulations to
biopharmaceuticals).
Also international
traders in raw materials for the pharmaceutical field.
Local sales are
via sister company YES PHARMA ISRAEL 2008 LTD.
All sales are on a
commission basis.
95% of sales are
export.
All of subject’s
suppliers are foreign.
Among customers:
TEVA PHARMACEUTICAL INDUSTRIES, DEXCEL, TARO PHARMACEUTICAL INDUSTRIES, PERRIGO
ISRAEL, CTS CHEMICAL INDUSTRIES, RAFA LABORATORIES, TRIMA ISRAEL PHARMACEUTICAL
PTODUCTS MAABAROT, REKAH PHARMACEUTICAL, VITAMED, LYCORED, FOAMIX, AMBROSIA
SUPHERB, JERUSALEM PHARMACEUTICALS, BEIT JALA PHARMACEUTICALS, BIRZEIT
PHARMACEUTICALS, SAM-ON, etc.
Sole local agents
of:
CIPLA, NICHOLAS
PIRAML, INDSWIFT, RANDEXY, BENZOCHEM, all of India,
STEROID, of Italy,
INTERQUIM, CRYSTAL
PHARMA, both of Spain,
ACG, of India (in
the capsule field).
Operating from rented
premises, on an area of 520 sq. meters, in 15 Hamelacha Street, Har Tuv A
Industrial Park, Nocham Enterprises Har-Tuv, Mateh Yehuda
Regional Council, situated near Beit Shemesh.
Having 16
employees serving subject and sister company, mainly in subject (same as in
2014 and in 2013, had 14 employees in 2012, same as in 2011).
Holding no stocks, work is based on orders.
Financial data not forthcoming.
There are 3
charges for unlimited amounts, as well as 1 charge for the sum of US$ 75,000.00
registered on the company assets (financial assets), in favor of Bank Hapoalim
Ltd. (last charge placed April 2012).
Actual revenues
derive from commission on sales. Here are the consolidated revenues are
by subject and sister company:
2009 sales claimed
to be US$ 6,000,000, of which 80% were for export.
2010 sales claimed
to be US$ 9,200,000, of which 90% were for export.
2011 sales claimed
to be US$ 13,000,000, of which 90% were for export.
2012 sales claimed
to be US$ 18,000,000, of which 90% were for export.
2013 sales were
US$ 22,000,000, of which US$ 21,694,000 were by subject. 95% of sales were for
export.
2014 sales were
US$ 29,000,000, of which US$ 27,800,000 were by subject. 95% of sales were for
export.
Sales for the
first 3 months of 2015 were US$ 7,500,000, of which US$ 95% were for export.
YES PHARMA ISRAEL 2008 LTD., fully owned by Gideon Schurder, agencies in
Israel for pharmaceutical raw materials, operating on a very low volume.
STEREOKEM INC.,
33%, USA (see below).
Bank Hapoalim
Ltd., Jerusalem Business Branch (No.436), Jerusalem, account No. 222000.
Bank Leumi
Le'Israel Ltd., Har Hotzvim Business Branch (No. 968), Jerusalem, account No.
566200/73.
A check with the Central
Banks' database did not reveal anything detrimental on subject’s a/m accounts.
Nothing unfavorable learned.
Subject is ISO
9001:2008 certified.
In February 2010 subject announced on the implementation of ERP/CRM System
(Priority, carried out by ESHBEL TECHNOLOGIES) into their infrastructure.
In 2013 subject
acquired of 33% of Santa Clara, CA, USA based STEREOKEM INC., a developer and
manufacturer of active pharmaceutical ingredients (APIs) in return for an
investment of US$2.5 million. Much of STEREOKEM's business is concentrated in
India, via its fully owned subsidiary in Hyderabad, India, in production and
marketing of Anti-Diabetic APIs, for the regulated and semi-regulated markets.
Over 90% of sales
by the local Pharmaceutical Industry are for export.
Sales for exports
of pharmaceuticals in 2014 reached US$ 6,513.7 million, representing 3.1%
increase from 2013, a reverse in trend of the past couple of years (7.7%
decrease in 2013, down 6% in 2012) and back to growth trend (10% and 41.5%
increase in 2011 and 2010, respectively, from the previous years).
Good for trade
engagements.
Note: Subject is located in the Har Tuv A Industrial Park,
which is near the city of Beit Shemesh, but not part of Beit Shemesh.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.86 |
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|
1 |
Rs.98.88 |
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Euro |
1 |
Rs.70.73 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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 |
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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.