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Report No. : |
346460 |
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Report Date : |
28.10.2015 |
IDENTIFICATION DETAILS
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Name : |
TMZ TIRE
RECYCLING INDUSTRIES LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.12.2003 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
A tire recycling plant, exporting and
marketing the rubber and steel recycled from used tires. |
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No. of Employees : |
40 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
TMZ TIRE RECYCLING INDUSTRIES LTD.
Telephone 972 8 648 40 47
Fax 972 8 648 40 45
Email: t.m.z1500@gmail.com
P.O. Box 2494
13
Hazore'a Street
Emek
Sara Industrial Zone
BE'ER SHEVA 8488955
ISRAEL
A private limited company, incorporated as
per file No. 51-347991-5 on the 18.12.2003.
Subject is one of local two tire recycling
plants that were erected following the entrance into force in 2007 of the Tire
Recycling Law initiated by the Ministry of Environment, which obligates each
tire importer or local manufacturer to recycle tires in the same quantity as it
imports or manufactures.
Authorized share capital NIS 50,000.00,
divided into -
50,000 ordinary shares of NIS 1.00 each, of
which 2,100 shares amounting to NIS 2,100.00 were issued.
1. EVE AND DAVID BERKOWITZ ASSETS LTD., 50%,
owned by David and Ms. Eva Berkowitz,
2. K.M.M. RECYCLING ENTERPRISES LTD., 50%,
owned by the Kortov family, headed by Philip Kortov.
1. Philip
Kortov,
2. Shahar
Kortov,
3. David
Berkowitz,
4. Ms. Eva Berkowitz
Amir Hadas.
A tire recycling plant, exporting and
marketing the rubber and steel recycled from used tires.
20%-25% of sales are export.
Operating from owned premises, on an area of
6,000 sq. meters (2,000 sq. meters built), in 13 Hazore'a Street, Emek Sara
Industrial Zone, Be'er Sheva.
Having 40 employees.
According to media reports from 2012, over
NIS 30 million were invested in the erection of subject's plant.
Subject is an “Approved Enterprise” and as
such entitled for State support, grants and tax relief.
Other financial data not forthcoming.
There are 10 charges registered for unlimited amounts on the company's
assets (financial assets, fixed assets, equipment and vehicles), in favor of
The State of Israel, Israel Discount Bank Ltd. and Mercantile Discount Bank
Ltd. (last 6 charges placed January 2103-September 2014 on vehicles).
2014 sales claimed to be NIS 10,000,000, 25% was for export.
2015 projected sales are NIS 12,000,000, 20% for export.
EVE AND DAVID BERKOWITZ ASSETS LTD.,
parent company, a holding company.
David and Ms. Eva Berkowitz also own:
NAAMAN TIRES IMPORT & MARKETING (1988)
LTD., established 1988, importers and marketers of
tires for all sorts of vehicles, operating some 30 tire repair shops via owned companies, including NAAMAN
TIRES GALIL ELYON 2008 LTD., NAAMAN TIRES – LIOR LTD. 2013 sales NIS 110
million.
K.M.M. RECYCLING ENTERPRISES LTD., parent
company, established 2000, paper and plastic recyclers.
Israel Discount Bank Ltd., Carmel Center
Branch (No. 076), Haifa.
Nothing unfavorable learned.
Subject meets the ISO-9001 standard.
NAAMAN TIRES is veteran tires firm, among the leading in the branch, mainly in the
north of the country.
K.M.M. RECYCLING is one of the leading local companies in their paper recycling field in
Israel.
Good for trade engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.96 |
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1 |
Rs.99.73 |
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Euro |
1 |
Rs.71.84 |
INFORMATION DETAILS
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Analysis Done by
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KIN |
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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.