MIRA
INFORM REPORT
|
Report Date : |
24th
November 2006 |
IDENTIFICATION
DETAILS
|
Name : |
BALI DIAMONDS |
|
|
|
|
Registered Office : |
3, Jabotinsky Street, Shimshon Tower, 20th
Floor, Ramat Gan 52520 Israel |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
2002 |
|
|
|
|
Legal Form : |
Sole proprietary |
|
|
|
|
Line of Business : |
Importers and exporters of diamonds,
chiefly polished diamonds. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
Name
BALI DIAMONDS
Telephone 972 3 751 28 50
Fax 972 3 751 28 50
3, Jabotinsky Street
Shimshon Tower, 20th Floor
RAMAT GAN 52520 ISRAEL
HISTORY
Originally established as a sole proprietary by Gabriel Bareli in 2002.
Converted into a general partnership and
registered as such as per file
No. 54-021917-7 on the 18.1.2005.
PARTNERS
1. Gabriel Bareli,
2. Ms. Irma Bareli.
GENERAL MANAGER
Gabriel Bareli
BUSINESS
Importers and exporters of diamonds, chiefly polished diamonds.
Operating from rented office on an area of 20 sq. meters in 3 Jabotinsky Street, Shimshon Building, 20th floor, Ramat Gan.
Having 4 employees.
MEANS
Financial data not forthcoming.
ANNUAL SALES
2005 sales claimed to be over US$ 2,000,000, 70% of which were exports.
First 9 months of 2006 sales claimed to be over US$ 1,500,000, 70% of which were exports.
BANKERS
Israel Discount Bank Ltd., Diamond Exchange Branch (No. 080), Ramat Gan.
CHARACTER AND REPUTATION
Nothing unfavourable learned.
According
to a report from June 2006, the local diamonds branch is in deep crisis, and
only 30% of Israeli diamonds companies are managing to make a profit. Part of
the crisis is attributed to the new marketing systems of the global monopoly DE
BEERS.
According
to a report from June 2006, the local diamonds branch is in deep crisis, and
only 30% of Israeli diamonds companies are managing to make a profit. Part of
the crisis is attributed to the new marketing systems of the global monopoly DE
BEERS.
However,
according to the Ministry of Industry and Trade, a recovery has been noted in
August 2006 in total (net) diamonds export, amounting to US$ 523 million, which
represents a 15.7% increase comparing to August 2005.
Total
(net) export of cut diamonds from Israel in 2005 reached US$ 6.706 billion,
5.8% increase from 2004. Exports of rough diamonds were US$ 3.51 billion, 20.6%
increase from 2004.
Import
of rough diamonds also increased in 2005 by 3.2% to US$ 5.31 billion and
imports of cut diamonds increased by 9.3% reaching US$ 4.508 billion.
In the
first half of 2006, total (net) diamonds export reached US$ 4.43 billion, which
represents a 1.6% increase comparing to the parallel period in 2005.
Imports
of rough diamonds in the first half of 2006 decreased by 22.1%.
The USA
is the main market for Israel’s export of cut diamonds (59%). The secondary
markets are Hong Kong (17%), Belgium (8%), Switzerland (2%) and the UK (2%).
SUMMARY
Good for trade engagements.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|