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MIRA
INFORM REPORT
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Report No. : |
493773 |
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Report Date : |
03.03.2018 |
IDENTIFICATION DETAILS
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Name : |
COPYING CENTER LTD. |
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Registered Office : |
P.O. Box 25024 (3125001) 38 Mordechai Maklef Street Check
Post New Industrial Zone HAIFA 3295238 |
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Country : |
Israel |
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Date of Incorporation : |
16.02.1965 |
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Legal Form : |
Private limited company |
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Line of Business : |
A
printing house, preforming digital printing works for Israeli and foreign
clients. |
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No. of Employees : |
100 |
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
COPYING CENTER LTD.
(Also known as COPY CENTER LTD.)
Telephone 972
4 881 20 00
Mobile 972
52 323 60 08
Fax 972
4 841 57 37
P.O. Box 25024 (3125001)
38 Mordechai Maklef Street
Check Post New Industrial Zone
HAIFA 3295238 ISRAEL
HISTORY & LEGAL FORMATION
A
private limited company, incorporated as per file No. 51-044889-7 on the
16.02.1965.
SHARE CAPITAL
Authorized
share capital NIS 8,000,002.00, divided into -
10 management shares (all issued) of
NIS 0.0001 each,
19,990 ordinary shares (all issued)
of NIS 0.0001 each,
8,000,000 ordinary shares (4,000,000
shares issued) of NIS 1.00 each,
of which
shares amounting to NIS 4,000,002.00 were issued.
Note: The currency in share
capital was originally in Old Israeli Shekel whose nominal value was 1
thousandth of the current New Israeli Shekel (NIS), converted in 1986.
SHAREHOLDERS
Subject
is fully owned by Uri Drori.
SOLE DIRECTOR
Uri
Drori, General Manager.
Role
Holders in the Company (Registered)
Soheil
Makhoul, CPA, registered authorized reporting official.
BUSINESS
A
printing house, preforming digital printing works for Israeli and foreign
clients.
Among local clients: ISCAR, OSEM, UNILEVER ISRAEL,
ELBIT SYSTEMS, STARUSS GROUP, MAX BRENNER, HENKEL SOD, ROLADIN, ZRICHA HLAVIN
INDUSTRIES, etc.
Among foreign clients: TARGET, WAL-MART, TESCO.
Operating
from rented premises, on an area of 10,000 sq. meters, in 38 Mordechai Maklef
Street, Check Post New Industrial Zone, Haifa.
Having
over 100 employees (110 employees in 2015), current exact number not
forthcoming.
MEANS
Financial
data not forthcoming.
In
2004 the Israeli Investment Centre (IIC) approved for subject, as an “Approved
Enterprise”, a NIS 13.5 million investment plan for the expansion of subject.
There is
1 charge for an unlimited amount placed in March 2017 on a real estate assets,
as well as a charge for the sum of NIS 5,000,000 on a machine placed February
2015, both in favor of Bank Leumi Le'Israel Ltd.
REVENUES
Sales
figures not forthcoming.
BANKERS
According
to our records (since subject’s CFO refused to disclose data, we were unable to
verify the u/m bank details):
Bank
Leumi Le'Israel Ltd., Halutzey Hata’asiya Business Branch (No. 889), Haifa,
account no. 707800/50.
A check
with the Central Banks’ database did not reveal anything detrimental on subject’s
a/m account.
CHARACTER AND
REPUTATION
Nothing
unfavorable learned.
Despite our efforts, we were unable to receive data from
subject's officials. At first we spoke to subject’s General Manager, Mr. Uri Drori, who referred us to subject’s CFO, who
told us he is very busy and this is not a good time. It should be noted that in
the past last years, officials refrained from disclosing information.
This is
a long established company, well-known in its field, serving leading local
industries.
The
brother of owner and manager Mr. Uri Drori, is Ilan Drori, who holds some 50%
in TADBIK Group, manufactures, exporters and marketers of plastic packaging
products, self-adhesive labels and automated adhesive machines for packaging
industry in the food, pharmaceutical, cosmetic and other sectors.
There
are over 21,000 employees serving in the local printing industry, employed in
some 1,050 printing houses, 960 of which considered small.
SUMMARY
Notwithstanding the lack of updated data from
subject's officials, considered 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 65.23 |
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1 |
INR 89.71 |
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Euro |
1 |
INR 79.50 |
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ILS |
1 |
INR 18.94 |
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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VAR |
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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.