|
|
|
MIRA INFORM REPORT
|
Report No. : |
489351 |
|
Report Date : |
06.02.2018 |
IDENTIFICATION DETAILS
|
Name : |
MIAL IMPEX 1986 LTD. |
|
|
|
|
Registered Office : |
25 Lazarov Street, New
Industrial Zone, Rishon Le-Zion 7565431 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
1976 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importers, Exporters and Marketers of Dried Fruits, Legumes and Pulses,
as well as Spices. |
|
|
|
|
No. of Employees : |
Having 18 employees (same as in 2017, had 22 employees in 2015, similar
to 2014 and 2013). |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Israel |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
Company
name & address
MIAL IMPEX 1986 LTD.
Telephone 972
3 941 60 10
Fax 972
3 941 60 20
Email: info@mialimpex.com
25 Lazarov Street
New Industrial Zone
Rishon Le-Zion 7565431
Israel
HISTORY
& LEGAL FORMATION
Originally incorporated as a private limited company under the name of MIAL
LTD., in 1976.
Following changes in the nature of business, activities were taken over by
subject, which incorporated as a private limited company as per file No. 51-115017-9
on the 11.11.1986.
SHARE CAPITAL
Authorized share
capital NIS 82,640.00, divided into -
82,640 ordinary shares of NIS 1.00 each, of which 42,700 shares amounting
to NIS 42,700.00 were issued.
SHAREHOLDERS
1. Haim (Vitali) Levy, 33.33%,
2. Shmuel Levy, 33.33%,
3. Joseph Karako –Yagil, 33.33%.
According to the Registrar of Companies subject itself holds 23% of the shares,
equally divided between a/m shareholders.
DIRECTORS
1. Haim Levy, General Manager, also a registered authorized reporting official,
2. Shmuel Levy,
3. Joseph Karako –Yagil.
BUSINESS
Importers, exporters and marketers of dried fruits, legumes and pulses, as
well as spices.
15% of 2017 sales were for export (20% in 2016 and in 2015).
Selling dates under brand name "Bat Sheva Dates".
Among local clientele: SAMARA FOOD MARKETING, many wholesalers.
70% of purchasing is from import.
Amongst local suppliers: NETA AGRICULTURAL SOCIETY, SASSON & CO.,
Kibbutz Gat.
Operating from premises (offices), on an area of 160 sq. meters, owned by
the shareholders, in 25 Lazarov Street, New Industrial Zone, Rishon Le-Zion,
and from logistics center (cold storage and warehouses), on rented area of
1,400 sq. meters, in 3 Habazelet Street, Tzur Igal.
Website: www.mialimpex.com
Having 18 employees (same as in 2017, had 22 employees in 2015, similar to
2014 and 2013).
MEANS
Current stock is valued at NIS 25,000,000 (similar to 2017, was valued at
NIS 20,000,000 in mid-2015, similar to the several previous years).
Property in Rishon Le-Zion where subject is operating from (owned by the
shareholders) is valued at US$ 3,000,000.
There are 16 charges
for unlimited amounts and 5 charges for the total sum of
NIS 997,080 registered on the company's assets (financial assets, equipment and
vehicles), in favor of The State of Israel, Bank Leumi Le'Israel Ltd., Israel Discount
Bank Ltd., Bank Hapoalim Ltd., Mercantile Discount Bank Ltd., Mizrahi Tefahot
Bank Ltd. and leasing companies (last charge placed July
2017 on vehicles, prior charge placed May 2016 on a vehicle).
REVENUES
2011 sales claimed to be NIS 90,000,000, 30% for export.
2012 sales claimed to be NIS 90,000,000, 30% for export.
2013 sales claimed to be NIS 100,000,000, 30% for export.
2014 sales claimed to be NIS 100,000,000, 30% for export.
2015 sales claimed to be NIS 110,000,000, 20% for export.
2016 sales claimed to be NIS 120,000,000, 20% for export.
2017 sales claimed to be NIS 140,000,000, 15% for export.
OTHER COMPANIES
Subject's shareholders have holdings in several other companies, including
jointly (H.R.I.SH. INVESTMENTS LTD.) and separately.
BANKERS
Israel Discount
Bank Ltd., Kikar Hayahalom Branch (No. 123), Ramat Gan.
Bank Hapoalim Ltd., Rishon Le-Zion Business Branch (No. 391), Rishon
Le-Zion.
Mercantile Discount Bank Ltd., Dizengoff
Branch (No. 655), Tel Aviv.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
Subject is a long established business.
Company is ISO 9001:2000 certified.
In the past suppliers reported favorably on subject's payment morality.
According to
Ministry of Agriculture data from February 2009, 3,600 tons of pistachio and
3,100 tons of almonds are imported to Israel each year.
The whole local
nuts/almonds and dried fruits market rolls some NIS 600 million annually. Most
of it arrives from import from Turkey, China, USA, Far East countries and South
Africa.
According to survey from 2013, the local food market, manufacturing, import
and trade, rolls NIS 80 billion per annum. There are some 1,700 food plants in
Israel (some also import) and hundreds of importers in the food, beverage and
consumer products, supplying raw materials and finished goods to the food
market.
According to StoreNext Market
Research survey (based on circa 80% of the sales in the local FMCG bar-coded
market), in 2016 the FMCG market summed up to NIS 40.8 billion, practically a
freeze from 2015, with 0.5% decrease in sales in terms of price, sided by a
mild increase of 0.6% in real terms (the prices index fall by 1.1%), while the
growth in population is 2% per annum. That comes after mild increases in sales
in 2015 and 2014, compared to the previous year.
Food products sale in 2016 witnessed 0.8%
fall in money terms from 2015 and totaled NIS 30.5 billion, beverages sales
rose by 1.5% to NIS 4.5 billion.
The FMCG market showed a recovery in the
first half 2017 compared to the first half of 2016, with 2.1% increase, summing
up at NIS 17.27 billion.
According
to Central Bureau of Statistics (CBS), import of food and
beverages to Israel in 2016 reached NIS 9,081 million, 9.1% rise from 2015 (or
10.5% rise in US$ currency terms), continuing the upward steady growth trend in
last years (including by 8.3% in 2015 from 2014 in NIS terms). Import in the
first half of 2017 amounted to NIS 4,871 million, representing almost 5% rise
compared to the first half of 2016.
Sales for exports by
the food products & beverages industries fell by 2.8% in 2016 from 2015, summing
at US$ 959 million, after in 2015 export plunged circa 10% from 2014. Sales for
export in the first half of 2017 show a reverse in trend, with 8% increase
compared to the first half of 2016.
SUMMARY
Good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.03 |
|
|
1 |
INR 90.40 |
|
Euro |
1 |
INR 79.73 |
|
ILS |
1 |
INR 18.51 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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
·
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.