As filed with the Securities and Exchange Commission on January 22, 2009

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UNITED STATESSECURITIES AND EXCHANGE COMMISSIONWashington, D.C. 20549

FORM 20-F/A(Amendment No. 1)

|                                                                                                                                                             |                                                                                                   
|------------------------------------------------------------------------------------------------------------------------------------------------------------ | --------------------------------------------------------------------------------------------------
|o                                                                                                                                                            | REGISTRATION STATEMENT
  PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934
|                                                                                                                                                             |                                                                                                   
|OR                                                                                                                                                          
|                                                                                                                                                             |                                                                                                   
|o                                                                                                                                                            | ANNUAL REPORT PURSUANT TO
  SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934            
|                                                                                                                                                             |                                                                                                   
|For
  the fiscal year ended December 31, 2007                                                                                                               
|                                                                                                                                                             |                                                                                                   
|OR                                                                                                                                                          
|                                                                                                                                                             |                                                                                                   
|o                                                                                                                                                            | TRANSITION REPORT PURSUANT
  TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934        
|                                                                                                                                                             |                                                                                                   
|For
  the transition period from _________ to ________                                                                                                      
|                                                                                                                                                             |                                                                                                   
|OR                                                                                                                                                          
|                                                                                                                                                             |                                                                                                   
|x                                                                                                                                                            | SHELL COMPANY REPORT
  PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934     
|                                                                                                                                                             |                                                                                                   
|Date
  of event requiring this shell company report: September 29, 2008                                                                                     
|                                                                                                                                                             |                                                                                                   
|Commission
File Number: 0-12332                                                                                                                             
|                                                                                                                                                             |                                                                                                   
|SCAILEX CORPORATION LTD.                                                                                                                                    
|                                                                                                                                                            
|(Exact
  name of Registrant as specified in its charter and translation of
  Registrants name into English)                                                
|                                                                                                                                                             |                                                                                                   
|Israel                                                                                                                                                      
|                                                                                                                                                            
|(Jurisdiction
  of incorporation or organization)                                                                                                           
|                                                                                                                                                             |                                                                                                   
|48 Ben Zion Street, Segula Industrial Area, Petach Tikva, 49277, Israel                                                                                     
|                                                                                                                                                            
|(Address
  of principal executive offices)                                                                                                                  
|                                                                                                                                                            
|Shachar Rachim, Chief Financial Officer 
Tel: (972)-3-9057730; Fax: (972)-3-930-0424
48 Ben Zion Street, Segula Industrial Area, Petach Tikva, 49277, Israel
|                                                                                                                                                            
|(Name,
  Telephone, E-mail and/or Facsimile number and Address of Company Contact
  Person)                                                                 
|                                                                                                                                                            
|Securities
  registered or to be registered pursuant to Section 12(b) of the Act:                                                                           
|None                                                                                                                                                        
|                                                                                                                                                            



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|                                                                                 
|---------------------------------------------------------------------------------
|Securities
  registered or to be registered pursuant to Section 12(g) of the Act:
|Ordinary Shares, NIS 0.12 nominal (par) value per share                          
|                                                                                 
|(Title
  of Class)                                                               

|                                                                                              
|----------------------------------------------------------------------------------------------
|Securities
  for which there is a reporting obligation pursuant to Section 15(d) of the
  Act:
|None                                                                                          
|                                                                                              
|(Title
  of Class)                                                                            

Indicate the number of outstanding
shares of each of the issuers classes of capital or common stock as of the close of
the period covered by the annual report: As of September 29, 2008, the Registrant had
outstanding:

|                                                                  
|------------------------------------------------------------------
|43,579,388
Ordinary Shares, NIS 0.12 nominal (par) value per share
|                                                                  

Indicate by check mark if
the registrant is a well-known seasoned issuer, as defined in Rule 405 of the
Securities Act.

oYesxNo

If this report is an annual
or transition report, indicate by check mark if the registrant is not required
to file reports pursuant to Section 13 or 15(d) of the Securities Exchange
Act of 1934.

oYesoNo

Indicate by check mark
whether the registrant (1) has filed all reports required to be filed by
Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding
12 months (or for such shorter period that the registrant was required to file
such reports), and (2) has been subject to such filing requirements for the
past 90 days.

xYesoNo

Indicate by check mark
whether the registrant is a large accelerated filer, an accelerated filer, or a
non-accelerated filer. See definition of accelerated filer and large
accelerated filer in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer o     Accelerated Filer
x     Non-Accelerated Filer o

Indicate by check mark which
basis of accounting the registrant has used to prepare the financial statements
included in this filing:

U.S. GAAP x

o International Financing
Reporting Standards as issued by the International Accounting Standards
Board

o Other

If Other has been checked
in response to the previous question, indicate by check mark which financial
statement item the registrant has elected to follow.

Item 17 o     Item 18 o

If this is an annual report,
indicate by check mark whether the registrant is a shell company (as defined in
Rule 12b-2 of the Exchange Act).

oYesoNo

2

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# EXPLANATORY NOTE

This Amendment No. 1 on Form 20-F/A
(the Amendment) to our shell company report on Form 20-F, as filed with the
Securities and Exchange Commission (the Commission) on October 3, 2008 (the
Form 20-F), is being filed solely for the purpose of filing as exhibits to the
Form 20-F the following three agreements: (1) Distribution Agreement for Cellular Phone
Devices  CDMA, dated July 10, 1998, between Suny Telecom Ltd. and Samsung
Electronics Co. Ltd.; and (2) Distribution Agreement for Cellular Phone Devices 
GSM, dated February 27, 2001, between Suny Telecom Ltd. and Samsung Electronics Co. Ltd.,
both of which were described in the Form 20-F, but not filed as exhibits; and (3) Novation
Agreement, dated November 24, 2008, between Suny Telecom Ltd., Scailex Corporation Ltd.
and Samsung Electronics Co. Ltd. (collectively, the Agreements), and revising
the Exhibit List on the Form 20-F, accordingly.

Therefore,
this Amendment consists of a cover page, this explanatory note, a revised list of exhibits
(Item 19 of Part III), a signature page and Exhibits 4(a)15, 4(a)16 and 4(a)17.

This
Amendment speaks as of the date of the initial filing of the Form 20-F. Other than as
described above, this Amendment does not, and does not purport to, amend, update or
restate any other information or disclosure included in the Form 20-F and does not, and
does not purport to, reflect any events that have occurred after the date of the initial
filing of the Form 20-F. As a result, our shell company report on Form 20-F, as amended by
this Amendment, continues to speak as of the initial filing date of the Form 20-F.

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# PART III

|ITEM 19. |  | EXHIBITS
|-------- |  | --------

|1.1 |  | Memorandum
of Association of the Registrant. (1)
|--- |  | ------------------------------------------------

|1.2 |  | Amended
and Restated Articles of Association of the Registrant. (2)
|--- |  | -------------------------------------------------------------------

|4(a)(1) |  | Asset
Purchase Agreement, dated November 24, 2003, between Eastman Kodak
               Company, the Registrant, Scitex Digital Printing, Inc. and Scitex
Development                Corp. (3)
|------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4(a)(2) |  | Asset
Purchase Agreement, dated August 11, 2005, between Hewlett-Packard Company
               and Scitex Vision Ltd. and the First Amendment thereto, dated November 1,
2005.                (4)
|------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4(a)(3) |  | Jemtex
Reorganization Agreement, dated August 4, 2006, and amendments thereto
               dated September 2006 and January 4, 2007, between Scailex Corp. Ltd., Avi
Raby                and Yehoshua  Sheinman. (5)
|------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4(a)(4) |  | Shareholders
Agreement, dated December 21, 2006, and amendments thereto dated                February
2007 and May 10, 2007, between Scailex Corporation Ltd. and Linura
               Holdings AG (6)
|------- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4(a)(5) |  | Memorandum
of Understanding dated February 18, 2007 and addendum dated February                19,
2007, between Petroleum Capital Holdings Ltd., Scailex Corporation Ltd. and
               Israel Corporation Ltd. (7)
|------- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|4(a)(6) |  | Globecom
Management Agreement, dated May 1, 2007, between Scailex Corporation                Ltd.
and Globecom Investments Ltd. (8)
|------- |  | -----------------------------------------------------------------------------------------------------------------------------------

|4(a)(7) |  | Deed
of Undertaking, dated May 10, 2007, between Petroleum Capital Holdings
               Ltd., Scailex Corporation Ltd. and Israel Corporation Ltd. (9)
|------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------

|4(a)(9) |  | Share
Purchase Agreement, dated March 26, 2008, between Scailex Corporation Ltd.
               and Linura Holdings AG (10)
|------- |  | ---------------------------------------------------------------------------------------------------------------------------

|4(a)(10) |  | The
PCH Sale Agreement, dated April 10, 2008, between Scailex Corporation Ltd.
               and Israel Petrochemicals Enterprise Ltd. (11)
|-------- |  | --------------------------------------------------------------------------------------------------------------------------------------------

|4(a)(11) |  | Escrow
Settlement Agreement, dated May 5, 2008, between Scailex Corporation Ltd.
               and Hewlett-Packard Company [Translation from Hebrew] (12)
|-------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------

|*4(a)(12) |  | Asset
Purchase Agreement, dated September 29, 2008, between Suny Electronics
               Ltd., Suny Telecom Ltd., and Din Dynamic Ltd., on the one part, and
Scailex                Corporation Ltd., on the
other part [Translation from Hebrew]
|--------- |  | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|*4(a)(13) |  | Service
Agreement, dated September 29, 2008, between Scailex Corporation Ltd.                and
Suny Electronics Ltd. relating to services provided by Scailex [Translation
               from Hebrew]
|--------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|*4(a)(14) |  | Service
Agreement, dated September 29, 2008, between Scailex Corporation Ltd.                and
Suny Electronics Ltd. relating to services provided by Suny [Translation
               from Hebrew]
|--------- |  | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|**4(a)(15) |  | Distribution
Agreement for Cellular Phone Devices  CDMA, dated July 10,                1998,
between Suny Telecom Ltd. and Samsung Electronics Co. Ltd. (portions are
               subject to a confidential treatment application and are omitted and filed
               separately with the Securities and Exchange Commission).
|---------- |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

4

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|**4(a)(16) |  | Distribution
Agreement for Cellular Phone Devices  GSM, dated February 27,                2008,
between Suny Telecom Ltd. and Samsung Electronics Co. Ltd. (portions are
               subject to a confidential treatment application and are omitted and filed
               separately with the Securities and Exchange Commission).
|---------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

|**4(a)(17) |  | Novation
Agreement, dated November 24, 2008, between Suny Telecom Ltd., Scailex
               Corporation Ltd. and Samsung Electronics Co. Ltd.
|---------- |  | ------------------------------------------------------------------------------------------------------------------------------------------------

|4(c)(1) |  | Form
of the Letter of Indemnification provided to office holders. (13)
|------- |  | ----------------------------------------------------------------------

|4(c)(2) |  | The
2001 Stock Option Plan (as amended, 2003). (14)
|------- |  | ---------------------------------------------------

|4(c)(3) |  | The
2003 Share Option Plan. (15)
|------- |  | --------------------------------

|4(d)(1) |  | Services
Agreement, dated November 1, 2001, between Clal and the Registrant (as
               amended, 2004). (16)
|------- |  | -------------------------------------------------------------------------------------------------------------------

|4(d)(2) |  | Services
Agreement, dated March 1, 2004, between Discount Investment Corporation
               Ltd. and the Registrant. (17)
|------- |  | -----------------------------------------------------------------------------------------------------------------------------

|8 |  | List
of Subsidiaries of the Registrant. (18)
|- |  | --------------------------------------------

|(1) | Incorporated
by reference to Exhibit 1.1 to our Annual Report on Form 20-F for                the year
ended December 31, 2005, filed June 28, 2006.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------

|(2) | Incorporated
by reference to Exhibit 1.2 to our Annual Report on Form 20-F for                the year
ended December 31, 2005, filed June 28, 2006.
|--- | ----------------------------------------------------------------------------------------------------------------------------------------------------

|(3) | Incorporated
by reference to Exhibit 4(a)(2) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2003, filed June 30, 2004.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(4) | Incorporated
by reference to Exhibit 4(a)(5) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2003, filed June 28, 2006.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(5) | Incorporated
by reference to Exhibit 4(a)(3) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2006, filed June 19, 2007.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(6) | Incorporated
by reference to Exhibit 4(a)(4) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2006, filed June 19, 2007.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(7) | Incorporated
by reference to Exhibit 4(a)(5) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2006, filed June 19, 2007.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(8) | Incorporated
by reference to Exhibit 4(a)(6) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2006, filed June 19, 2007.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(9) | Incorporated
by reference to Exhibit 4(a)(7) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2006, filed June 19, 2007.
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(10) | Incorporated
by reference to Exhibit 4(a)(9) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2006, filed June 30, 2008.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(11) | Incorporated
by reference to Exhibit 4(a)(10) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2007, filed June 30, 2008.
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

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|(12) | Incorporated
by reference to Exhibit 4(a)(11) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2006, filed June 30, 2008.
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

|(13) | Incorporated
by reference to Appendix B to our Proxy Statement filed under the
                    cover of a Current Report on Form 6-K filed December 1, 2005.
|---- | ----------------------------------------------------------------------------------------------------------------------------------------------------------------

|(14) | Incorporated
by reference to Exhibit (d)(4) to our Tender Offer Statement on                Schedule
TO filed May 14, 2004.
|---- | ---------------------------------------------------------------------------------------------------------------------------

|(15) | Incorporated
by reference to Appendix B to our Proxy Statement filed under the                cover of
a Current Report on Form 6-K filed December 3, 2003.
|---- | -----------------------------------------------------------------------------------------------------------------------------------------------------------

|(16) | Incorporated
by reference to Exhibit 4(d)(1) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2003, filed June 30, 2004.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(17) | Incorporated
by reference to Exhibit 4(d)(3) to our Annual Report on Form 20-F                for the
fiscal year ended December 31, 2003, filed June 30, 2004.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------

|(18) | Incorporated by reference to Exhibit
8 to our original Shell Company Report on Form 20-F, filed with the Commission on October
3, 2008.
|---- | ---------------------------------------------------------------------------------------------------------------------------------------

* Previously filed with the original
shell company report on Form 20-F, filed with the Commission on October 3, 2008.

** Filed herewith

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# SIGNATURES

The Registrant hereby certifies that
it meets all of the requirements for filing on Form 20-F and that it has duly caused and
authorized the undersigned to sign this Report on its behalf.

| |  | SCAILEX CORPORATION LTD.(Registrant)By: /s/ Shachar
Rachim
Shachar RachimChief Financial Officer
| |  | --------------------------------------------------------------------------------------------------------------

Date: January 22, 2009

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