MIRA
INFORM REPORT
|
Report Date : |
26.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
M.A. ANAVI DIAMOND GROUP |
|
|
|
|
Registered Office : |
1 Jabotinsky Street, Diamond Exchange, Maccabi Building, Ramat Gan
52520 |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
1984 |
|
|
|
|
Legal Form : |
General Partnership |
|
|
|
|
Line of Business : |
Processors, importers, exporters and marketers of diamonds, as well as
jewelry |
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 : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
Correct Name &
address
M.A. ANAVI DIAMOND GROUP
1 Jabotinsky
Street
Diamond Exchange,
Maccabi Building
RAMAT GAN 52520
ISRAEL
Telephone 972 3 613 12 77
Fax 972 3 613 12 76
HISTORY
Originally established
as a sole proprietorship by Abraham (Avi) Anavi in 1984, under the name AVI
ANAVI DIAMONDS.
Converted into a
general partnership and registered as such as per file No. 54-021659-5 on the
29.6.2004.
PARTNERS
1. Abraham (Avi) Anavi,
2. Meir Anavi.
JOINT GENERAL
MANAGERS
1. Abraham (Avi) Anavi,
2. Meir Anavi.
BUSINESS
Processors,
importers, exporters and marketers of diamonds (chiefly), as well as jewelry
(relatively minor activity).
Over 20% of sales
are for export.
Operating from
office premises, owned by the partners, on an area of 125 sq. meters in 1
Jabotinsky Street, Maccabi Building, 19th floor, Ramat Gan.
Also operating
from office branches in Belgium, India, South Africa and other countries.
Having 15 employees
in Israel, and 25 in all offices in Israel and abroad.
MEANS
Current Stock is
valued at US$ 10,000,000.
Property owned by
the partners at the Maccabi Building (offices where subject is operating from)
is valued at US$ 1,350,000.
ANNUAL SALES
2005 sales claimed
to be over US$ 70,000,000, 20% of which were exports.
2005 sales claimed
to be over US$ 80,000,000, 25% of which were exports.
BANKERS
First
International Bank of Israel Ltd., Diamond Exchange Branch (No. 026), Ramat
Gan.
CHARACTER AND
REPUTATION
Nothing
unfavourable learned.
This is a long
established family business (which started as a non-registered business by Avi
Anavi and converted into a registered partnership following the entrance of
Meir Anavi.
According to a
report from November 2006, the diamonds branch is on the verge of a significant
recuperation after the deep crisis it got into, the worst one for decades,
which affected the profitability of Israeli diamond businesses. World sales
towards Thanksgiving Day grew by 10% comparing to 2005. That already led to a
rise in rough diamonds.
According to the
Ministry of Industry and Trade, the local diamonds branch managed to stabilize
the total volume of export of cut diamonds during 2006, a year that witnessed
many local and global challenges, and end in the same level as 2005. In rough
diamonds a decrease was noted, due to marketing motives, and as high prices
made the trade in rough diamonds less attractive.
Total (net) export
of cut diamonds from Israel in 2006 reached US$ 6.610 billion, a mere decrease
of 1.5% from 2005 (US$ 6.709 billion). Exports (net) of rough diamonds were US$
2.701 billion, a 23.2% decrease from 2005 (US$ 3.517 billion, which was a 20.6%
increase from 2004).
Import of rough diamonds
(net) also fell in 2006 by 11.4% (from 2005) to US$ 4.709 billion, while import
of cut diamonds (net) increased in 2006 by 3.3% reaching US$ 4.025 billion.
The USA is the
main market for Israel’s export of cut diamonds (over 50%). The secondary markets
are Hong Kong (around 20%), Belgium (around 10%), Switzerland and the UK.
During the first
quarter of 2007, import rough diamonds to Israel noted a 4.9% increase
comparing to the parallel period in 2006.
In the first
quarter of 2007, export (net) of cut diamonds fell by 2.1% comparing to the
parallel period in 2006 (main decrease in March), summing up to US$ 1.913
billion. In contrast, export of rough diamonds (net) witnessed an increase
comparing to 2006.
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 |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)