MIRA
INFORM REPORT
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Report
Date : |
27th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
L.L.D. DIAMONDS LTD. |
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Registered
Office : |
12th
Floor, Noam Building, 52, Bezalel Street, Ramat Gan - 52521, Israel |
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Date
of Incorporation : |
1997 |
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Legal
Form : |
Private Limited Liabilities Company |
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Line
of Business : |
Diamond Dealers And Polishers |
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
: |
Good |
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
NAME
L.L.D.
DIAMONDS LTD.
ADDRESS
12TH FLOOR,
NOAM
BUILDING,
52, BEZALEL
STREET,
RAMAT
GAN-52521, ISRAEL.
TELEPHONE : 03-5753550
FAX : 03-5752141
CAPTION ADDRESS
SERVES AS SUBJECT'S REGISTERED ADDRESS.
SUMMARY
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YEAR
STARTED |
1997 |
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CORPORATE
FORM |
PRIVATE
LIMITED LIABILITIES COMPANY |
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TOTAL
STAFF |
200 |
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SALES
TURNOVER |
US$
601,000,000. |
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FINANCIAL
CONDITION |
NO
NEGATIVE INFORMATION |
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OPERATING
TREND |
STABLE |
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BUSINESS
RELATIONS |
REGARDED
AS GOOD FOR THEIR NORMAL SIGNED TRADE COMMITMENTS |
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PAYMENT
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REGULAR |
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NOTHING
DETRIMENTAL UNCOVERED |
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CREDIT
RISK |
AVERAGE/LOW |
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CREDIT
LIMIT |
SUBJECT
GOOD FOR A 7 DIGIT U.S. DOLLAR CREDIT AMOUNT. |
LEGAL STATUS
PRIVATE
LIMITED COMPANY INCORPORATED PER FILE NO. 51-254128-5 ON 12.10.1997.
SHAREHOLDERS
LEV LEVIEV, 2 RABBI CHIA STREET, BNEI BRAK - (99 ORDINARY SHARES)
MOSHE LEVIEV, 14 NOAM ELIMELECH STREET, BNEI BRAK - (1 ORDINARY SHARE)
DIRECTOR
MOSHE LEVIEV, APPOINTED ON 13.10.1997
LEV LEVIEV, 01.01.1999
MANAGEMENT
GENERAL MANAGER: LEV LEVIEV
BUSINESS ACTIVITIES
DIAMONDS
S.I.C.: 39.15.0201
50.94.0102
DIAMOND DEALERS AND POLISHERS.
SUBJECT IS A MEMBER OF THE DIAMOND EXCHANGE.
SUBJECT CONTROLS ITS OWN DIAMOND MINES.
PREMISES
BUSINESS IS CONDUCTED FROM PREMISES SITUATED AT CAPTION ADDRESS.
STAFF
200 EMPLOYEES.
SHARE CAPITAL
AUTHORISED: NIS 34,300.00
COMPRISING: 34,300 ORDINARY SHARES @ NIS 1.00 EACH
ISSUED: 100 SHARES (NIS 100.-)
NO CHANGES HAVE BEEN MADE IN SUBJECT'S SHARE CAPITAL SINCE ITS INCORPORATION.
PUBLIC RECORD INFORMATION
THERE ARE CURRENTLY 7 UNLIMITED CHARGES REGISTERED AGAINST SUBJECT'S ASSETS AS COLLATERAL FOR LOANS:
1. MADE ON 08.12.1997 IN FAVOR OF "UNION BANK OF ISRAEL LTD." AGAINST ALL ASSETS INCLUDING SHARE CAPITAL AND GOODWILL.
2. MADE ON 08.12.1997 IN FAVOR OF "UNION BANK OF ISRAEL LTD." AGAINST PROMISSORY NOTES AND RECEIVABLES.
3. MADE ON 10.12.1997 IN FAVOR OF "ISRAEL DISCOUNT BANK LTD." AGAINST ALL ASSETS INCLUDING SHARE CAPITAL, FUNDS, PROMISSORY NOTES AND SECURITIES.
4. MADE ON 18.08.1998 IN FAVOR OF "BANK LEUMI LEISRAEL LTD." AGAINST GOODS, PROMISSORY NOTES AND OTHER DOCUMENTATION.
5. MADE ON 18.08.1998 IN FAVOR OF "BANK LEUMI LEISRAEL LTD." AGAINST ALL ASSETS INCLUDING SHARE CAPITAL AND GOODWILL.
6. MADE ON 20.08.1998 IN FAVOR OF "BANK LEUMI LEISRAEL LTD." AGAINST PROMISSORY NOTES.
7. MADE ON 17.10.2048 IN FAVOR OF "MIZRAHI TEFAHOT BANK LTD." AGAINST ALL ASSETS INCLUDING FUNDS, SHARE CAPITAL AND GOODWILL.
FINANCIAL INFORMATION
SUBJECT AS A PRIVATE COMPANY DOES NOT PUBLISH BALANCE SHEET OR RELATED INFORMATION.
IT IS THE POLICY AND PRACTICE OF PARTIES ENGAGED IN THE DIAMOND TRADE TO PROVIDE ONLY VERY LIMITED INFORMATION CONCERNING THEIR BUSINESS OPERATIONS.
TURNOVER
1999 = US$ 256,000,000.
2000 = US$ 360,000,000.
2001 = US$ 441,000,000.
2002 = US$ 514,000,000.
2003 = US$ 570,000,000.
2004 = US$ 611,000,000.
2005 = US$ 601,000,000.
SUBJECT IS THE LARGEST DIAMONDS EXPORTER IN ISRAEL.
RECORDS
FOR THE RECORD: IN MAY 1999 MR. SHLOMO GREENBERG LITIGATED AGAINST MR. TAMIR GREENBERG, HIS NEPHEW AND FORMER EMPLOYEE, AND MR. LEVY LEVIEV, CLAIMING NIS 3,300,000 (THEN US$ 824,000) ALLEGING THAT MR. TAMIR GREENBERG DECEIVED HIM BY TAKING HOLD OF HIS DIAMONDS, FUNDS AND RIGHTS IN A PLANT IN RUSSIA WITH THE SUPPORT OF MR. LEVY LEVIEV. ON 06.03.2001 MR. SHLOMO GREENBERG REQUESTED THAT AN EX-PARTE INTERIM ATTACHMENT WOULD BE PLACED ON ASSETS OF MR. TAMIR GREENBERG. ON 04.06.2002 COURT REJECTED THE CLAIM BY MR. SHLOMO GREENBERG. COURT DECISION WAS FOR LACK OF GROUNDS IN THE EVIDENCE PRESENTED BY THE PLAINTIFF BUT ITS VERDICT STATED THAT BOTH SIDES HAVE NOT GAINED COURT'S TRUST. THE VERDICT FURTHER STATES THAT THE PLAINTIFF WAS ATTEMPTING TO MAKE AN EASY PROFIT BY TRANSFERRING ROUGH DIAMONDS FROM RUSSIA TO ISRAEL. COURT FURTHER CONCLUDED THAT BOTH SIDES OPERATED UNLAWFULLY ACCORDING TO RUSSIAN LAW AND WITH MISCONDUCT.
SUBSIDIARY
"ALMAZI LTD."
A PRIVATE LIMITED COMPANY INCORPORATED ON 29.08.1999.
ASSOCIATE COMPANY
MR. LEV LEVIEV CONTROLS "AFRICA ISRAEL INVESTMENTS LTD.", A PUBLIC LIMITED COMPANY, SHARES TRADED ON THE TEL AVIV STOCK EXCHANGE.
BANKERS
UNION BANK OF ISRAEL LTD., 3 JABOTINSKY ROAD, RAMAT GAN (13-062)
BANK LEUMI LEISRAEL LTD., 1 JABOTINSKY ROAD, RAMAT GAN (10-629)
ISRAEL DISCOUNT BANK LTD., 3 JABOTINSKY ROAD, RAMAT GAN (11-080)
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 |