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Report No. : |
322621 |
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Report Date : |
22.05.2015 |
IDENTIFICATION DETAILS
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Name : |
APOLLO TOOLS LTD. |
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Registered Office : |
2 Hayasmin Street, Industrial Park Ariel West, Ariel |
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Country : |
Israel |
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Date of Incorporation : |
24.01.1995 |
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Com. Reg. No.: |
51-209785-8 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of working & building tools and accessories, as well as gardening tools, safety & protection accessories |
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No of Employees : |
15 |
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) |
|
Israel |
A2 |
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.
|
Source
: CIA |
APOLLO TOOLS LTD.
Telephone 972 3 933 83 29
Fax 972 3 908 80 31
Email: info@apollotools.co.il
Physical Address
2 Hayasmin Street
Industrial Park Ariel West
ARIEL
Mailing Address
P.O. Box 18
RA'ANANA 4310001 ISRAEL
A private limited
company, incorporated as per file No. 51-209785-8 on the 24.01.1995.
Authorized share
capital of NIS 27,100.00, divided into:
27,100 ordinary shares of NIS
1.00 each,
of which 100 shares
amounting to NIS 100.00 were issued.
1. Zion David Hai, 99%,
2. Mrs. Miriam David Hai, 1%.
Zion David Hai
Importers and
marketers of working & building tools and accessories, as well as gardening
tools, safety & protection accessories. Sales are under the imported
international brands and own label "Magnum".
Also importers and
marketers of inputs for the building sector and building finishing products,
including ceramics, faucets & sanitary ware, parquet flooring, electricity
installation, hardware and lock, ropes, sealing products, paints, etc.
Sales are to
traders and retail stores.
Sole local
importers and representatives of (among others):
FUJI POWER TOOLS
(tools), of Japan
KANGAROO (tools),
of Australia
FIRST TOOLS IND.
(SMIPO), of Taiwan
SOGUTSEN SERAMIK
(ceramics), ELKAY (adhesives), FLOORPAN (parquets), SERANOVA, all of Turkey.
Operating from
rented premises, on an area of 1,500 sq. meters, in 2 Hayasmin Street, Industrial Park Ariel West, Ariel (to
where subject moved from Meshek No. 73, Moshav Mazor, in early 2013; p.o.
box 235 is no longer relevant).
Having 15
employees (same as in mid 2014, had 14 employees in 2013, 12 employees in mid
2012, same as in 2011).
Financial data not
forthcoming.
There are 14
charges for unlimited amounts, as well as 2 charges for the total sum of NIS
700,000 registered on the company's assets (financial assets and vehicles), in
favor of Bank Hapoalim Ltd., The First International Bank of Israel Ltd., Bank Leumi Le'Israel Ltd. and its leasing companies. Last 3 charges
placed March-April 2015).
Sales figures not
forthcoming.
The First
International Bank of Israel Ltd., Yehud Branch (No. 110), Yehud – main
account.
Also working with
Bank Leumi Le'Israel Ltd., Yehud Branch (No. 832), Yehud, account No. 10900/75.
A check with the
Central Banks' database did not reveal anything detrimental on subject’s a/m
account.
Nothing
unfavorable learned.
Subject's General
Manager refused to disclose financial data.
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 ceramics (also granite porcelain, marble, etc.) and sanitary ware
branch in Israel is highly competitive, with many importers and over 300 points
of sale. The revenues of the branch in 2012 summed up to NIS 2.85 billion, 3%
up from 2011 and was divided into flooring and covering (56%), sanitary ware
(32%), bathroom cabinets and accessories (12%). Import of tiles in 2011 fell by
3% from 2010, remained steady in 2012 and rose by 22.8% in 2013 in value of US$
361.5 million (9% up from 2012). In terms of sq. meters -to 33,351 thousand
sq.m. in 2013 (27,155 thousand sq.m. in 2012).
In 2013, 32.6% of imported ceramic and porcelain goods to Israel were from
China (up from 30.7% in 2012), 26% from Turkey (down from 34% in 2012), 25.2%
from Spain (19.7% in 2012), and 14% from Italy (similar to 2012).
In 2012, the volume of sales of imported ceramics and sanitary ware was 87%
of the total branch sales.
The Home Design area is directly influence
by the changes in the local market in general, and construction and real estate
market in particular.
From the Central Bureau of Statistics (CBS)
data for 2014, investments in construction for dwelling in 2014 fell by 1.2%,
after an increase of 1.2% in 2013 and 8.6% in 2012. Investments in construction
not for dwelling (public institutions, commerce, industry, etc.) and other
construction works (e.g. roads, offices, industrial, institutional) dropped 13%
in 2014, after climbing 8% in 2013.
Total investment in buildings and other
construction works in 2014 reached NIS 104.15 billion, 6% decrease from 2013
(when it rose 3.7% from 2012). The investment included NIS 66 billion in
residential building (-1.2% from 2013), of which 91.5% was for private
building, the rest for public building. Construction fell despite the
Government's efforts to increase investments. The fall in investment also lead
to a rise in houses prices.
The annual volume of houses renovations
according to the Renovations Contractors Association is estimated at NIS 15
billion, and the turnover of the ceramics branch is estimated to capture NIS
2.3 billion (which comprises some 80% of the branch's total volume).
The building
sector indicators for 2014 show a withdrawal from the previous year, a reverse
trend from 2013, a year which marked an improvement in activities after
ambiguous previous several years. Volume of building starts for dwelling (which
is a dominant indicator for the trend in the building sector) in 2014 fell by
8% from the previous year with 43,620 building starts, compared to 47,351 in
2013 (43,287 in 2012, 46,923 in 2011). A similar rate of decrease was also
noted in the number of apartment whose building has been completed, and in the
number of dwellings transactions, where a sharp decrease was seen. In 2013
there was also 11.8% increase in apartments whose construction was finished
(41,970 apartments).
Number of dwellings transactions climbed by 9% in 2013 reaching total of
114 thousands transactions (rise in both new and second-hand apartments), but
fell in 2014 (in the beginning of 2015 the rising trend in transactions
resumed). In new apartments sold, a slight 0.3% rise noted in 2013 from 2012.
Notwithstanding
the refusal to disclose financial data, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.70 |
|
|
1 |
Rs. 98.91 |
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Euro |
1 |
Rs. 70.66 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.