MIRA
INFORM REPORT
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Report Date : |
31st
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
FANCY COLLECTION LTD. |
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Registered Office : |
Diamond Exchange, Shimshon Tower, Room 1005-1006, 3 Jabotinsky Street, Ramat Gan-52520, Israel |
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Country : |
Israel |
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Date of Incorporation : |
03.02.1991 |
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Com. Reg. No.: |
51-154369-6 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Diamond manufacturer that specializes in import and export of diamonds of the highest quality. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
NAME
Fancy Collection Ltd.
ADDRESS
Diamond Exchange, Shimshon Tower,
Room 1005-1006,
3 Jabotinsky Street,
Ramat Gan-52520, Israel.
P.O. Box 3156
Ramat Gan-52520, Israel.
Tel: +972-3-5750138
Fax: +972-3-5754533
E-mail:
avi@fancycollection.com
Status & History
Private limited company registered per file no. 51-154369-6 on 3.2.1991.
Subject was registered under the title Avi Nethanel Diamonds Ltd on 9.9.2001 changed to Avi Nethanel Fancy Collection Ltd. and on 24.3.2003 changed to present title.
Shareholder, Director &
Manager
Avinoam (Avi) Nethanel, of 15 Bnei Moshe Ramat Gan – (1,000 ordinary shares).
Business
– Diamonds
Diamond manufacturer that specializes in import and export of diamonds of the highest quality.
Business is conducted from 50 sq. meters offices premises situated at caption address.
3 Employees (in Israel).
Share Capital
Authorized : NIS 20,000.
Comprising : 20,000 ordinary shares at NIS 1.00 each
Issued : 1,000 ordinary shares.
Public Record Information - Ex
Registrar Of Companies
There is one unlimited charge registered against subject's assets (including shares, goodwill, assets & factory) as collateral for loans received from its bankers.
One charge previously registered against subject's assets was subsequently removed.
Financial Figures - Declined (see note 1)
Bankers – Declined (see note 1)
Export
Subject exports to the European, North
American and Asian markets.
Import Figures – Declined (see note 1)
Media
Coverage
Jck-Magazine, 31.8.2004 - citing the Gemological Institute Of America’s reputation for “tremendous research” on diamond treatments and synthetics, Fancy Collection has made a $100,000 contribution to the institute’s endowment fund. Avi Nathanel, president of the Antwerp-based company, will be inducted into Gia’s esteemed league of honor in 2005 in recognition of the gift. Nathanel, a longtime supporter of the institute, said Gia’s mission is vital to the success of the industry. Subject donated to Gia because we believe in the institute’s mission to ensure the public’s trust in the gem and jewelry industry said Avi Nathanel. Founded by Nathanel more than two decades ago, subject specializes in 0.70-ct. To five-ct. diamonds and markets to luxury jewelers in Geneva, Paris, London, Rome, and Athens. Originally headquartered in Tel Aviv, Israel, the company is now based in Belgium and has become a leading manufacturer and distributor of fancy cut diamonds worldwide.
Character & Reputation
No negative information was located.
Summary
Due to insufficient information available regarding subject’s operations we are unable to form a credit opinion.
However, our inside sources in the local diamond exchange inform us that subject is regarded as a respectable company and its owner and manager is known as an involved and well respected person.
Notes
- Subject as a private company does not publish nor provide balance sheet or related information.
- Subject's management declined to provide us any financial information or bank details concerning subject.
- Subject's head office is located in Antwerp Belgium.
- Please Note - Companies and businesses involved in the jewelry/precious metals/stones business are wary of disclosing any facet of their operations. This is attributable to the strict security procedures maintained to prevent theft or fraud.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |