MIRA
INFORM REPORT
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Report Date : |
27th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
PARK
DIAM ISR. LTD. |
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Registered Office : |
Diamonds Exchange, Yahalom Tower, Ramat Gan 52521
Israel |
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Country : |
Israel |
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Date of Incorporation : |
14.02.1996 |
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Com. Reg. No.: |
51-228493-6 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processors, traders in diamonds. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company name & Address
PARK DIAM ISR. LTD.
Telephone 972
3 613 15 70
Fax 972
3 575 28 97
Cellular 972
54 397 73 91 (of Mr. Kliasandrom)
P.O. Box 456 (52103)
54 Bezalel Street
Diamonds Exchange, Yahalom Tower
RAMAT GAN 52521 ISRAEL
HISTORY
A private limited company, incorporated as per file
No. 51-228493-6 on the 14.02.1996.
SHARE CAPITAL
Authorized share capital of NIS 28,000.00 divided
into:
28,000 ordinary shares, of NIS 1.00 each, of which
shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. G.BAI
VIRINIPANKA, 85%,
2. PATAL
NANGI BAI, 15%, both companies of India.
Note: a/m names are registered in Hebrew in the
Registrar of Companies and are translated into Latin, hence there may be
spelled differently.
DIRECTORS
Registered directors are companies of India (same
as shareholders):
1. G.BAI
VIRINIPANKA,
2. PATAL
NANGI BAI.
GENERAL MANAGER
Tagra Kliasandrom
BUSINESS
Processors, traders in diamonds.
Operating from rented offices, on an area of 60 sq.
meters, in 54 Bezalel Street, Diamonds Exchange, Yahalom Tower (6th
Floor), Ramat Gan (offices shared with affiliated company – see OTHER
COMPANIES).
Having 3 employees.
MEANS
Financial
data not forthcoming.
There
are 2 charges for unlimited amounts registered on the company's assets, in
favor of Israel Union Bank Ltd.
ANNUAL SALES
Sales figures not forthcoming.
OTHER COMPANIES
THANGAM LTD., affiliated company, sharing
and operating from same premises as subject, traders, importers, exporters and
marketers of diamonds.
BANKERS
Israel Union Bank Ltd., Ramat Gan Branch (No. 062), Ramat
Gan,
Account No.
63400/92.
A check with the Central Banks’ database did not
reveal any negative information regarding subject’s a/m account.
CHARACTER AND REPUTATION
Nothing unfavorable learnt.
Subject's officials refused to disclose financial
data on their company.
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.
Despite this, according to the Ministry of Industry
and Trade, a recovery has been noted in October 2006 in total (net) diamonds
export, amounting to US$ 611 million, which represents a 58.5% increase
comparing to October 2005. However, total export of the first 10 months of 2006
is much similar to the export in the same period in 2005: US$ 5.54 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%.
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.
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
Notwithstanding the refusal to disclose any
details, considered good for trade engagements.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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