MIRA
INFORM REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION
DETAILS
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Name : |
ELDAD BEN DAVID |
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Registered Office : |
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Country : |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Dealers in
diamonds (import, trade, export). |
RATING &
COMMENTS
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MIRA’s Rating : |
NR |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Undetermined |
name & address
ELDAD BEN DAVID
Diamond Exchange,
Yahalom Bldg.
Telephone 972 3 613 32 68
Fax 972 3 613 32 69
HISTORY
A sole
proprietorship, operating under License Dealer No. 07290190 (year of establishment
not forthcoming).
GENERAL MANAGER
Eldad Ben-David.
BUSINESS
Dealers in
diamonds (import, trade, export).
Operating from
rented premises, on an area of 30 sq. meters, in
Having 3 employees
(as of 2006).
MEANS
Financial data not
forthcoming.
ANNUAL SALES
Sales figures not
forthcoming.
BANKERS
Israel Discount Bank
Ltd., Diamond Exchange Branch (No. 080),
CHARACTER AND
REPUTATION
Nothing
unfavorable learned.
Subject's General
Manager, Mr. Eldad Ben-David, the only authorized person to disclose data on subject,
is presently on vacation and due back in two weeks time. We shall contact him
upon his return and update you accordingly.
In previous
interview, subject officials refused to disclose financial details.
According to the
Ministry of Industry and Trade, the local diamonds branch managed to stabilize
the total volume of export of cut diamonds during
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
During the first
half of 2007, import rough diamonds (net) to
In the first half
of 2007, export of cut diamonds rose by 6% (mainly thanks to April sales)
comparing to the parallel period in 2006, summing up to US$ 3.59 billion.
Export of rough diamonds (net) also witnessed an increase of 22% to US$ 1.74
billion.
SUMMARY
Considering the
refusal to disclose financial details, dealings 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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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%)