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MIRA INFORM REPORT
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Report No. : |
501223 |
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Report Date : |
10.04.2018 |
IDENTIFICATION DETAILS
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Name : |
GAIA AUTOMOTIVE INDUSTRIES LTD. |
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Registered Office : |
P.O. Box 25 9 Alexander Zaïd Street Kiryat Tivon 3602109 |
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Country : |
Israel |
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Date of Incorporation : |
23.03.2011 |
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Legal Form : |
Private limited company |
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Line of Business : |
Developers, manufacturers (in
small volume), exporters and marketers of armored & unique vehicles, such
as riot control vehicles, aircraft fueling vehicles, design trailers,
aircraft draggers |
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No. of Employees : |
15 |
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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Maximum Credit Limit : |
US$ 45,000 |
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Status : |
Good |
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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
GAIA AUTOMOTIVE INDUSTRIES LTD.
Telephone 972 72 244 1500
Mobile 972 54 250 80 07 (Shlomi
Shraga)
Fax 972 77 621 45 02
Email:
info@gaia-auto.com
P.O.
Box 25
9 Alexander Zaïd Street
KIRYAT TIVON 3602109 ISRAEL
HISTORY
& LEGAL FORMATION
A private limited company,
incorporated as per file No. 51-459518-0 on the 23.03.2011.
Originally registered under the
name GAYA AUTOMOTIVE INDUSTRIES LTD., which changed to the present name on the
20.09.2015
SHARE
CAPITAL
Authorized share capital NIS
100,000.00, divided into -
100,000
ordinary shares of NIS 1.00 each,
of which 2,000 shares amounting
to NIS 2,000.00 were issued.
SHAREHOLDERS
1. SHLOMI SHRAGA HOLDINGS
LTD., 50%, owned by Shlomo (Shlomi) Shraga,
2. MARSUL METAL
INDUSTRIES AND INVESTMENTS LTD., 50%, a wholly-owned subsidiary of subject.
In practice, subject is fully owned by Shlomi Shraga.
SOLE
DIRECTOR
Shlomi Shraga, General Manager.
Also a registered authorized
reporting official.
BUSINESS
Developers, manufacturers (in
small volume), exporters and marketers of armored & unique vehicles, such
as riot control vehicles, aircraft fueling vehicles, design trailers, aircraft
draggers, etc.
Most of sale are export.
Revenues derive mostly from the
sale of knowhow and manufacturing rights.
Sales are to military and police
forces, etc.
Operating office premises, owned
by Shlomi Shraga, in 9 Alexander Zaïd Street, Kiryat Tivon (to where they
moved from Hasolelim Village, as well as ceased using P.O. Box 500), and
from a plant premises, on a rented area of 2,000 sq. meters, in Z.H.R
Industrial Zone, Rosh Pina.
Website: www.gaia-auto.com
Having 15 employees.
MEANS
Financial data not forthcoming.
Work is according to orders.
There is 1 charge for the sum of NIS 1,119,000 registered on
the company's assets (financial assets – bank account), in favor of Bank
Hapoalim Ltd. (charge placed February 2016).
REVENUES
2016 sales claimed to be US$ 3,000,000.
2017 sales claimed to be US$ 3,000,000.
OTHER
companies
MARSUL METAL INDUSTRIES AND
INVESTMENTS LTD., 100%.
SHLOMI SHRAGA HOLDINGS LTD., a
holding company.
BANKERS
Bank Hapoalim Ltd., Nahariya
Branch (No. 716), Nahariya, account No. 555348.
A check with the Central Banks' database did not reveal
any negative information regarding subject's a/m account.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
There are some 170 local
exporting companies in the local automobile industry, with over 12,000
employees, manufacturing mainly advanced technology made spare parts,
electronics & software, driver assistance systems, vehicle assemblies,
equipment, components, as well as to the aftermarket.
Over 50 of the exporters supply
to OEM and Supplier Tiers, global automotive manufacturers and sub-contractors
to this industry.
According to the Israel Export
& International cooperation Institute, annual export by the automobile
related industry amounted to US$ 900 million in 2015. Export divided into 45%
to Asia Pacific, 45% USA and 10% - Europe. The Chinese market viewed as a
potential new market for the Israeli automotive industry, producing 9.5 million
cars a year.
The Central
Bureau of Statistics (CBS) data on import of metals raw materials to the local industries:
Import of Iron and Steel in 2017 summed up to US$ 2,198 million, 13.7% increase
from 2016 (US$ terms, 6.5% rise in NIS currency terns), after 1.6% decrease in 2016 from 2015 (-3% in
NIS terms); Import of Precious Metals in 2017 rose by 10.6%, summing up to US$
178 million (up 3.7% in NIS terms), after 6% rise in 2016 from the previous
year; Import of Non-ferrous Metals marked 14.3% rise in 2017 from 2016 to US$
782.5 million (7.1% in NIS terms), after 7% decrease in 2016 from 2015.
SUMMARY
Good for trade engagements.
Maximum unsecured credit
recommended US$ 45,000.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.93 |
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1 |
INR 91.50 |
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Euro |
1 |
INR 79.69 |
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ILS |
1 |
INR 18.53 |
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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PRI |
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Report Prepared
by : |
TRU |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.