MIRA INFORM REPORT

 

 

Report Date :

30.07.2007

 

IDENTIFICATION DETAILS

 

Name :

STAR – ROUGH (ISRAEL) LTD.

 

 

Registered Office :

3 Jabotinsky Street, Diamond Exchange, Shimshon Building, Ramat Gan 52520

 

 

Country :

Israel

 

 

Date of Incorporation :

30.11.1986

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Importers, processors, exporters and marketers of diamonds.

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Small Concern

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

name & address

 

STAR – ROUGH (ISRAEL) LTD.

3 Jabotinsky Street

Diamond Exchange, Shimshon Building

RAMAT GAN 52520 ISRAEL

Telephone    972 3 575 26 68

Fax             972 3 575 26 68

 

 

HISTORY

 

A private limited company, incorporated as per file No. 51-115490-8 on the 30.11.1986.

 

 

SHARE CAPITAL

 

Authorized share capital of NIS 2,640.00 divided into: 2,640 ordinary shares, of NIS 1.00 each, of which shares amounting to NIS 300.00 were issued.

 

 

SHAREHOLDERS

 

1.    Prashnat Primal Kotari, 56.66%,

2.    Gavari Rages Sorash, 33.33%,

3.    Mehta Mokash Bhavesh, 10%.

 

 

SOLE DIRECTOR AND GENERAL MANAGER

 

Prashnat Primal Kotari

 

 

BUSINESS

 

Importers, processors, exporters and marketers of diamonds.

 

Operating from owned office premises, in 3 Jabotinsky Street, Diamond Exchange, Shimshon Building (2nd Floor, Room No. 218), Ramat Gan and from an office in India.

 

Having 2 employees.

 

 

MEANS

 

Financial data not forthcoming.

 

There are no charges registered on the company's assets.

 

 

ANNUAL SALES

 

Sales figures data not forthcoming.

 

 

BANKERS

 

Israel Discount Bank Ltd., Diamond Exchange Branch (No. 080), Ramat Gan.

 

 

CHARACTER AND REPUTATION

 

According to our sources, subject experienced some troubles recently, however their nature is not known.

Apart of that, we found nothing detrimental in our files and searches on subject.

 

We spoke with subject's secretary refused to disclose financial data on subject. She said that subject's General Manager, Mr. Kotari, is presently abroad and she does not know when he returns.

 

Subject is a long established company.

 

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 (around 60%). The secondary markets are Hong Kong (15%), Belgium (7%), Switzerland (5%) and the UK (2%).

 

 

SUMMARY

 

For the time being, dealings are recommended on a secured basis.

 

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions