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MIRA INFORM REPORT
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Report No. : |
491014 |
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Report Date : |
19.02.2018 |
IDENTIFICATION DETAILS
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Name : |
A.D.Y CATTLE TRADE & MARKETING LTD. |
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Registered Office : |
Farms No. 3
& 4 , Kfar Mordechai 7685400 |
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Country : |
Israel |
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Date of Incorporation : |
27.12.2000 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged
in raising and marketing of cattle for meat. |
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No. of Employees : |
Not Available |
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 : |
Slow but Correct |
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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
A.D.Y CATTLE TRADE
& MARKETING LTD.
Telephone 972 8 859 99 90
Fax 972
8 868 11 40
Farms No. 3 &
4
KFAR MORDECHAI 7685400,ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-305754-7 on the 27.12.2000.
SHARE CAPITAL
Authorized share
capital NIS 40,000.00, divided into -
5 management
shares (2 shares issued), 39,995 ordinary shares (30 shares issued), all of NIS
1.00 each, of which shares amounting to NIS 32.00 were issued.
SHAREHOLDERS
1. Alon Hazan, 50%,
2. David Hazan, 50%.
Shareholders are
brothers.
DIRECTORS
1. Alon
Hazan, Joint General Manager, also registered authorized reporting official,
2. David
(Dudi) Hazan, Joint General Manager.
BUSINESS
Engaged in raising
and marketing of cattle for meat.
Marketing is
carried out also via subsidiary H.S BACARNE FARM MEAT LTD.
We learn that
subject also has import (from Germany), but do not know if importing meat or
other products.
Operating from
premises (offices, facilities, farm), owned by shareholders, on an area of
60,000 sq. meters, in Farms Nos. 3 & 4, Hasadeh Street, in Kfar Mordechai
Village (“Moshav Kfar Mordechai”, where “moshav” is a local typical village or
settlement, in particular a type of cooperative agricultural community of
individual farms), situated east of Ashdod.
Had 10 employees
in 2013, current number of employees unavailable, believed to be similar.
MEANS
Financial data not
forthcoming.
There are 4
charges for unlimited amounts registered on the company's assets (3 on
financial assets, 1 on all assets), in favor of Bank Leumi Le'Israel Ltd. and
Israel Discount Bank Ltd. Charge placed in 205, 2006, and 2 in March 2017.
REVENUES
2010 turnover claimed to be NIS 45,000,000.
2011 turnover claimed to be NIS 50,000,000.
2012 turnover claimed to be NIS 50,000,000.
Turnover for the first half of 2013 claimed
to be NIS 25,000,000.
Later sales figures not forthcoming.
OTHER COMPANIES
Y.S.Y. CATTLE
LTD., subject has holdings in this company, exact percentage not forthcoming,
engaged in raising and marketing meat.
H.S BACARNE FARM
MEAT LTD., 50% (other 50% by Y.S.Y. CATTLE LTD.)
BANKERS
According to our
records (we could not speak to subject's officials, therefore unable to confirm
the bank data):
Bank Leumi Le'Israel
Ltd., Gedera Branch (No. 928), Gedera, account No. 210400/92.
Bank Hapoalim
Ltd., Ashdod Business Branch (No. 399), Ashdod, account No. 277455.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
Israel Discount
Bank Ltd., branch data not forthcoming.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject's General Manager, Mr. Dudi Hazan, refused to disclose any
information.
There are about 10
large importers of meat to Israel, due to the high entry barriers to the
branch, of which 2 (TNUVA and SALEH DUBBAH AND SONS) control the market.
Imported meat has been comprising some 25% of total meat consumption, and lead
to the sale of imported meat in prices lower by some 25% of local
slaughterhouses prices sales.
One third of the
local meat market is comprised of fresh meat, mainly from local cattle herds
(60%), the rest from import. The Government has been leading a reform in the meat import policy, designed to lower prices. According to the data as of 2016,
the retail fresh meat market (excl. institutional market) is 20,000 tons per
annum.
According to the
directives of the Ministry of Agriculture, it is possible to import to Israel
fresh meat with a shelf life of 45 days and frozen meat with a shelf life of 15
months.
The total fresh
meat local sales is estimated at NIS 1,095 million in 2015.
According to the CBS data, import of meat in 2016
totaled US$ 577.5 million, representing 27% increase from 2014 (after 6%
increase from 2014 to US$ 455.4 million), which is due to the Government's
reform in meat import policy. Import of meat in the first 11 months of 2017
were similar compared to the parallel period in 2016, summing up to US$ 564.5
million.
SUMMARY
Notwithstanding
the lack of updated data from subject's officials, considered good for trade
engagements.
Note: Since 2013 Israel
Post 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 63.91 |
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1 |
INR 90.31 |
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Euro |
1 |
INR 80.71 |
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ILS |
1 |
INR 18.22 |
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 : |
NIT |
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.