MIRA
INFORM REPORT
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Report Date : |
06.08.2007 |
IDENTIFICATION
DETAILS
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Name : |
OFER NOFF DIAMONDS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importers,
marketers and exporters of 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 |
name & address
OFER NOFF DIAMONDS
Diamond Exchange,
Yahalom Bldg.
Telephone 972 3 674 77 96
Cellular 972 54 397 77 27
Fax 972 3 575 76 69
HISTORY
A sole
proprietorship, established in 2001.
License Dealer No.
028020055 (name in the Tax Authorities files is "OFER NOFF").
OWNER AND GENERAL
MANAGER
Ofer Noff, born
1970.
BUSINESS
Importers,
marketers and exporters of diamonds.
85% of sales are
for export.
Operating from a rented
office at the Gellem Hall, Yahalom Building, Diamond Exchange, 21 Tuval Street
(formerly 54 Bezalel Street), Ramat Gan.
Having 3 employees
(including subject's owner, his father and a third employee).
MEANS
Financial data not
forthcoming.
ANNUAL SALES
Sales figures not
forthcoming.
BANKERS
Mizrahi Tefahot
Bank Ltd., Diamonds Business Center Branch (No. 466),
A check with the
Central Banks' database did not reveal anything detrimental on subject’s a/m
account.
CHARACTER AND
REPUTATION
Nothing
unfavorable learned.
Subject owner,
Ofer Noff, refused to disclose financial details on his business.
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
Notwithstanding the refusal to disclose
financial 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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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%)