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MIRA INFORM REPORT
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Report No. : |
510565 |
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Report Date : |
25.05.2018 |
IDENTIFICATION DETAILS
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Name : |
PILETEST COM LTD. |
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Registered Office : |
P.O. Box 9119 (4050003), 59A Vatikim Street, Even Yehuda 4051456 |
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Country : |
Israel |
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Date of Incorporation : |
01.12.1996 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Developers, manufacturers, exporters and marketers of quality control equipment for the construction field. |
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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 : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 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
PILETEST COM LTD.
Telephone 972 9 891 18 99
Mobile 972
54 423 07 32 (Dr. Joram Amir)
Fax
972 3 760 10 65
Email: jmamir@piletest.com
P.O. Box 9119 (4050003)
59A Vatikim Street
Even Yehuda 4051456 Israel
HISTORY
& LEGAL FORMATION
A private limited company, incorporated as
per file No. 51-240287-6 on the 01.12.1996.
Originally registered under the name GEOCOMP
LTD., which changed to the present name on the 11.02.1999.
SHARE
CAPITAL
Authorized share capital NIS 31,300.00, divided
into -
31,300 ordinary shares of NIS 1.00 each, of
which 100 shares amounting to NIS 100.0 were issued.
SHAREHOLDERS
Subject is fully owned by Dr. Joram Amir,
directly (50%) and via his fully owned company AMIR GEOTECHNICAL ENGINEERING LTD.
(50%).
Note: Name is pronounced “Yoram”.
SOLE
DIRECTOR
Dr. Joram Amir, General Manager, Civil
Engineer.
BUSINESS
Developers, manufacturers, exporters and
marketers of quality control equipment for the construction field.
Over 90% of sales are for export.
Among clientele: The Standards Institution
of Israel - (SII), Construction and Infrastructure Testing Facility, and more.
Operating from owned office premises, in 59A
Vatikim Street, Even Yehuda, and from a rented manufacturing lab, on an area of
100 sq. meters, in 20 Hamesila Street, Industrial Zone, Nesher.
Website: www.piletest.com
Having 8 employees (had 5 employees in 2017,
same as in 2016).
MEANS
Financial data not forthcoming.
There are no charges registered on the company's assets.
REVENUES
Sales figures not forthcoming.
OTHER
COMPANIES
AMIR GEOTECHNICAL ENGINEERING LTD., sister
company, a consulting company in the civil engineering field.
BANKERS
Bank Hapoalim Ltd., Ramat Hasharon Branch
(No. 630), Ramat Hasharon.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
Dr. Joram Amir refused to disclose financial
data.
Dr. Joram Amir holds a B.Sc. and M.Sc from the Technion, Israel
Institute of Technology, and a Ph.D. from the Tel Aviv University
From the Central Bureau of Statistics (CBS)
data, investments (Gross Domestic Capital Formation) in construction for
dwelling (residential buildings) in 2017 rose by 1.2% from the previous year
(quantity change), which follows increase of 8.1%, 1.5% & 6% in 2016, 2015
& 2014, respectively.
Investments in construction not for dwelling
(public institutions, commercial and industrial building) rose in 2017 by 6.3%
(after 2.6% rise in 2016, 1.1% in 2015 and 2% in 2014), while investments in
other construction works (e.g. roads, infrastructure) saw 16.6% climb in 2017,
continuing the upward trend (by 3.8%) in 2016 (after declining by 4.2% in 2015
and -15.5% in 2014).
Investments in infrastructures in 2017 comprised 17.6% of total
investments in fixed assets in the market, summing up to NIS 29.9 billion in
current prices. Total investments in infrastructures in fixed prices rose by 23.2%,
after 2.1% rise in 2016.
SUMMARY
Notwithstanding the refusal to disclose
financial details, 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 68.39 |
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1 |
INR 91.44 |
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Euro |
1 |
INR 80.14 |
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ILS |
1 |
INR 19.09 |
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 : |
TPT |
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.