MIRA
INFORM REPORT
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Report
Date : |
20th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
YAROTAL DIAMONDS LIMITED |
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Registered
Office : |
Diamond Tower, 10th floor, Rooms 90-91, 54,
Bezalel Street, Ramat Gan-52521, Israel |
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Date
of Incorporation : |
11.02.1986 |
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Com.
Reg. No.: |
51-110447-3 |
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Legal
Form : |
Private Limited Company |
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Line
of Business : |
Diamonds import, cutting and export. Importers of raw materials for own requirements. |
RATING & COMMENTS
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MIRA’s
Rating : |
Ba |
RATING |
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
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Satisfactory
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Payment
Behaviour : |
Usually
correct |
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Litigation
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Clear |
NAME
Yarotal
Diamonds Ltd.
ADDRESS
Diamond
Tower,
10th
floor, Rooms 90-91,
54, Bezalel
Street,
Ramat
Gan-52521, Israel.
P.O. Box
457,
Ramat
Gan-52521.
Telephone : 03-5755508
Fax : 03-5755471
E-Mail : yarotal@yarotaldiamonds.com
Status & History
Private
limited company incorporated per file no. 51-110447-3 on 11.02.1986.
Shareholders
1. Amir Haimoff, Of 10 Haruzim Street, Ramat Gan – (75 Ordinary Shares),
2. Ety Haimoff, Of 10 Haruzim Street, Ramat Gan – (25 Ordinary Shares).
Registered director: Ben-Tzion Haimoff
Sole director & manager in practice: Amir Haimoff (son of Ben-Tzion)
Business
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Diamonds
Diamonds
import, cutting and export.
Importers
of raw materials for own requirements.
Subject no
longer operates a cutting factory. It now conducts its cutting via a local
sub-contractor.
Subject
primarily trades in rounds and fancies, 0.50 – 3.00 ct diamonds.
Business is
conducted from rented 30 sq. meters offices premises situated at caption
address.
Subject
organizes manufacturing of jewelry in China via local factories. These are sold
directly to the USA and are at a test period at present. This activity does not
appear on subject’s books at present.
9
employees.
Share Capital
Authorized : NIS 2,640.00
Comprising : 2,640 ordinary shares 2 NIS 1.00 each
Issued : 100 ordinary shares
Public Record Information - Ex Registrar Of
Companies
There are 2
unlimited charges registered against subject's assets (including machinery,
equipment, receivables and securities) as collateral for loans received from
its bankers.
No charges
previously registered against subject's assets were subsequently
removed.
Turnover
2005 = US$
10,000,000
Investments
Subject
refused to provide us figures of its fixed assets and average inventory.
Export
Subject
exports mainly to the USA and to Hong Kong. Total exports in 2005 = US$
6,500,000.
Import
Subject
informed us it normally imports under 90-120 days open credit (D/A).
Bankers
Union Bank
Of Israel Ltd., 3 Jabotinsky Street, Ramat Gan (13-062).
Media Coverage
None found.
Character & Reputation
Good.
Summary
Regarded as
good for their normal signed trade commitments.
Subject
enjoys a positive reputation although it is relatively small in its category.
It has a stable trend.
Subject is
good for credit of us$ 100,000 per a standard supplier. Higher credit should be
granted against L/C or similar guaranties.
Notes
Subject as a private company does
not publish nor provide balance sheet or related information.
Subject informed us that it is also active in the real-estate field.
For the record
Companies and businesses involved in the jewelry/precious stones business are wary of disclosing any facet of their operations. This attributable to the strict security procedures maintained to prevent theft or fraud.
RATING
EXPLANATIONS
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 |