MIRA
INFORM REPORT
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Report Date : |
28th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
DEUTSCH
YADIN |
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Registered Office : |
3A Jabotinsky Street, Diamonds
Exchange, Yahalom
Tower, Ramat Gan
52520 Israel |
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Country : |
Israel |
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Date of Incorporation : |
1984 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Dealers & Traders in
Diamonds. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Small
Company |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
Company name & Address
DEUTSCH YADIN
Cellular 972 54 397 76 25
3A Jabotinsky Street
Diamonds
Exchange, Yahalom
Tower
RAMAT GAN 52520 ISRAEL
HISTORY
A sole proprietorship,
established in 1984.
License Dealer number 068033802.
OWNER AND GENERAL MANAGER
Yadin Deutsch
BUSINESS
Dealers, traders in diamonds.
Operating from offices in 3A Jabotinsky
Street, Diamonds Exchange, Yahalom Tower, Ramat Gan.
According to the Diamonds
Exchange's directory, subject's office is located at the 5th Floor,
room 587.
Number
of employee not
forthcoming, though believed to be working by himself only.
MEANS
Financial data not forthcoming.
ANNUAL SALES
Sales
figures not forthcoming.
BANKERS
Bank data not forthcoming.
CHARACTER AND REPUTATION
Nothing
unfavourable learnt.
Subject's owner
and general manager, Mr. Yadin Deutsch, refused to disclose any data on his
business without knowing the identity of the enquirer.
Subject
is a very small business.
According
to the Diamonds Exchange and the telephone directories, subject's telephone and
fax numbers are (972-3) 612 09 51. We called this number several times, however
there is no reply.
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
Considering
the refusal to disclose any data and subject being a small business, dealing
are recommended on a secure basis.
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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