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MIRA
INFORM REPORT
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Report No. : |
490070 |
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Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
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Name : |
MEDITAL COMOTECH LTD. |
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Registered Office : |
P.O. Box
7772, 36 Shacham Street, Ram House, Petah Tikva 4951729 |
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Country : |
Israel |
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Date of Incorporation : |
1983 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of components and enginerring
solutions in the motion control, industrial
control and mechanical drives for the hi-tech, electronics and manufacturing
industries. |
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No. of Employees : |
8 |
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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 address
MEDITAL
COMOTECH LTD.
Telephone 972 73 200 02 00
972 73 200 02 03
Fax 972
3 923 16 66
Email: sales@medital.co.il
P.O. Box 7772
36
Shacham Street, Ram House
PETAH
TIKVA 4951729 ISRAEL
HISTORY & LEGAL FORMATION
Originally
established as a department of MEDITAL LTD. in 1983.
Converted
into a private limited company and registered as such as per file
No.
51-287152-6 on the 19.12.1999.
SHARE CAPITAL
Authorized
share capital NIS 38,100.00, divided into-
38,100 ordinary shares of NIS
1.00 each,
of
which 100 shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1.
MEDITAL ISRAEL LTD., 73%, fully owned
by MEDITAL LTD., equally owned by Yossef Issler and
his wife Mrs. Dina Issler,
2.
Arie Klein, 26%,
3.
Yossef Issler, 1%.
DIRECTORS
1.
Yossef Issler,
Chairman,
2.
Arie Klein, General Manager,
3.
Mrs. Dina
Issler.
BUSINESS
Importers and marketers of components and enginerring
solutions in the motion control, industrial
control and mechanical drives for the hi-tech, electronics and manufacturing
industries.
Among
MEDITAL Group’s clientele: SEMICOM LEXIS, HP ISRAEL, RAFAEL ADVANCED DEFENSE
SYSTEMS, ISRAEL AEROSPACE INDUSTRIES, ELBIT SYSTEMS, and more.
Sole local representatives (main ones):
ETEL, of Switzerland,
MOTOR POWER CO., of Italy,
AMATEK, GALIL, both of USA,
DUNKER MOTION, BUHLER, both of Germany.
Operating from rented premises, serving
MEDITAL Group, on an area of 600 sq. meters, in 36 Shacham Street, Ram House,
Petach Tikva (to where they moved from 7
Leshem Street, Petach Tikva),
and from rented warehouse, serving the Group, on an area of 200 sq. meters, in
18 Halapid Street, Petach Tikva.
Website: www.medital.co.il
Having 8 employees in subject and 24 employees serving MEDITAL
Group.
MEANS
Most activities are based on orders.
Current stock is valued at NIS 300,000.
MEDITAL
Group’s consolidated stock is valued at NIS 1,500,000.
There are no charges registered on the company’s assets.
REVENUES
2016 sales claimed to be NIS 13,000,000.
2017 sales claimed to be NIS 13,000,000.
MEDITAL
Group’s consolidated sales:
2016
sales claimed to be NIS 45,000,000.
2017
sales claimed to be NIS 45,000,000.
OTHER COMPANIES
MEDITAL
LTD., a holding company, incorporated in 1983, operating via u/m wholly owned
subsidiaries (as well as subject) as importers and marketers of electronic
components in the fields of motion control, industrial control and mechanical
drives for the hi-tech, electronics and manufacturing industries.
MEDITAL
Group's subsidiaries:
MEDITAL
ISRAEL LTD., holds 70% of MEDITAL HI-TECH (1992) LTD., agents, importers and
marketers of electronic components for the high tech industries.
MEDITAL
NOVELTY LTD.
MEDITAL
VISION LTD.
BANKERS
Bank Hapoalim Ltd., Petach Tikva Business Branch (No. 061),
Petach Tikva.
CHARACTER AND REPUTATION
Nothing
unfavorable learnt.
MEDITAL Group is long established, well-known in their
fields.
At the
end of 2009 – beginning 2010, MEDITAL and Yossef
Issler sold their holdings (50%) in COMTAL
TECHNOLOGIES AND ENGINEERING (a
holding company, whose subsidiaries are engaged in import and marketing of
products, machinery and equipment to the local industry) to
former partner Amichai Drezner.
According to the Central Bureau of Statistics (CBS), import of raw materials for the local Machines and
Electronics Manufacturing in 2017 fell 5% from 2016, reaching US$ 10,197
million. That represents a reverse in trend from the last previous years: in
2016 import climbed 4.3% from 2015, in 2015 and 2014 import rose by 2.3% and
2.2 %, respectively from the previous years.
SUMMARY
Good for trade engagments.
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 64.14 |
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1 |
INR 89.50 |
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Euro |
1 |
INR 79.43 |
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ILS |
1 |
INR 18.37 |
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
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Promoters
/ Management background
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Payment
record
·
Litigation
against the subject
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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.