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MIRA
INFORM REPORT
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Report No. : |
500680 |
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Report Date : |
04.04.2018 |
IDENTIFICATION DETAILS
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Name : |
NOTALY LTD. |
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Registered Office : |
P.O.
Box 25042 (3125001), 9 Shlomo Ben
Yossef Street, Checkpost Junction, Haifa 3296109 |
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Country : |
Israel |
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Date of Incorporation : |
12.01.2006. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
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Importers and marketers of kitchens,
sole local representatives of RECORD and RATIONAL ·
Importers and marketers of sanitary
ware and bathroom accessories ·
Traders, importers and faucets by
HANSGROHE |
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No. of Employees : |
30 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 free market economy. Cut diamonds, high-technology equipment, and pharmaceuticals are among its leading exports. Its major imports include crude oil, grains, raw materials, and military equipment. Israel usually posts sizable trade deficits, which are offset 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 weathered the 2011 Arab Spring because strong trade ties outside the Middle East insulated the economy from spillover effects.
Slowing domestic and international demand and decreased investment resulting from Israel’s uncertain security situation reduced GDP growth to an average of roughly 2.8% per year during the period 2014-17. 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 in the last decade. Political and regulatory issues have delayed the development of the massive Leviathan field, but production from Tamar provided a 0.8% boost to Israel's GDP in 2013 and a 0.3% boost in 2014. One of the most carbon intense OECD countries, Israel generates about 57% of its power from coal and only 2.6% from renewable sources.
Income inequality and high housing and commodity prices continue to be a concern for many Israelis. 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. Government officials have called for reforms to boost the housing supply and to increase competition in the banking sector to address these public grievances. Despite calls for reforms, the restricted housing supply continues to impact the well-being of younger Israelis seeking to purchase homes. Tariffs and non-tariff barriers, coupled with guaranteed prices and customs tariffs for farmers kept food prices high in 2016. Private consumption is expected to drive growth through 2018 with consumers benefitting from low inflation and a strong currency.
In the long term, Israel faces structural issues, including low labor participation rates for its fastest growing social segments - the ultraorthodox and Arab-Israeli communities. Also, Israel's progressive, globally competitive, knowledge-based technology sector employs only about 8% of the workforce, with the rest mostly employed in manufacturing and services - sectors which face downward wage pressures from global competition. Expenditures on educational institutions remain low compared to most other OECD countries with similar GDP per capita.
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Source
: CIA |
Company Name and address
NOTALY LTD.
Telephone 972 4 872 23 04
Fax 972 4 872 23 06
Email:
service@notaly.co.il
P.O. Box 25042 (3125001)
9 Shlomo Ben Yossef Street
Checkpost Junction
HAIFA 3296109 ISRAEL
HISTORY & LEGAL FORMATION
Originally
established in 2003 as a non-registered business under the name FANTASIA
DESIGN.
Converted
into a private limited company and registered as such as per file No.
51-378097-3 on the 12.01.2006.
SHARE CAPITAL
Authorized
share capital NIS 30,000.00, divided into -
30,000
ordinary shares of NIS 1.00 each,
of
which 100 shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject
is fully owned by Ohad Levy, an Adv.
SOLE DIRECTOR
Ohad Levy,
General Manager.
BUSINESS
Engages
as:
1.
Importers and marketers of kitchens,
sole local representatives of RECORD and RATIONAL.
2.
Importers and marketers of sanitary
ware and bathroom accessories.
3.
Traders, importers and faucets by
HANSGROHE.
Products
are of high-end.
Operating
also under kitchen brand name "Decorium".
Among
clients: SHIKUN & BINUI REAL ESTATE, SOLEL BONEH, ASHTROM GROUP, ELECTRA,
DANYA CEBUS, AMIREY GAN YAVNE, DAN HOTELS, ISROTEL HOTELS, SHARBIV, B.S.T
DEVELOPMENT AND CONSTRUCTION, DAN HOTELS, ISROTEL, and more.
Also
selling to tens of retailers in the branch.
Most
purchasing is from import. Also have local faucets suppliers.
Sole
local representatives of (among others):
HANSGROHE/AXOR,
KALDEWEI, RATIONAL, all of Germany,
RECORD,
of Italy
LINEADECOR,
of Turkey,
FRANKE,
of Switzerland,
UNIDRAIN,
of Denmark,
COSMIC-POMD'OR,
of Spain.
Operating
from rented premises in 9 Shlomo Ben Yossef Street (office and showroom), on
rented area of 370 sq. meters, as well as from warehouse in 7 Ben Yossef
Street, on rented area of 700 sq. meters, both in Checkpost Industrial Zone,
Haifa. Also operating from a showroom, on rented area of 150 sq. meters, in 10
Lehi Street, Industrial Zone, Bnei Brak.
Website:
www.notaly.co.il
Having
30 employees.
MEANS
Current
inventory is valued at NIS 4,500,000.
Other
financial data not forthcoming.
There
are no charges registered on the company’s assets.
REVENUES
2015
sales claimed to exceed NIS 30,000,000.
2016
sales claimed to exceed NIS 30,000,000.
2017
sales claimed to exceed NIS 30,000,000.
BANKERS
Bank
Hapoalim Ltd., Kikar Paris Branch (No. 736), Haifa.
Israel
Discount Bank Ltd., Beit Hakranot Branch (No. 106), Haifa.
Bank
Leumi Le'Israel Ltd., Nesher Branch (No. 887), Nesher.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject
enjoys good reputation in its field, representing leading international
suppliers.
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, divided into flooring and covering (56%), sanitary ware
(32%), bathroom cabinets and accessories (12%).
The
local faucet market is valued at NIS 180 million annually.
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, investments in construction for dwelling in 2016 rose by
8.6% from the previous year, which follows 2.2% increase in 2015 and increase
of 6.4% in 2014.
Investments in construction not
for dwelling (public institutions, commercial and industrial building) rose in
2016 by 1% (after 3.9% rise in 2015 and 3.6% in 2014), and investments in
construction in other construction works (e.g. roads, infrastructure) saw 2.1%
rise in 2016, continuing the upward trend (by 3.3%) in 2015 (after falling by
18.2% in 2014).
According to estimations in the kitchens branch from 2012,
the kitchens market is valued at NIS 2 - 2.5 billion per year. This market is divided among private carpenters
(55%), local kitchen manufacturers (such as REGBA, SEMEL, DÉCOR, ANIS, AVIVI,
ZIV), and imported kitchens (IKEA, BULTHAUP, etc.).
SUMMARY
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 |
INR 65.02 |
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1 |
INR 91.46 |
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Euro |
1 |
INR 80.09 |
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ILS |
1 |
INR 18.42 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.