MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
JULIUS KLEIN -
ELIAZ DIAM |
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Registered Office : |
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Country : |
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Date of Incorporation : |
29.12.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Processors,
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
JULIUS KLEIN -
ELIAZ DIAM
Diamond Exchange,
Telephone 972 3 575 33 47
Fax 972 3 575 35 67
HISTORY
A private limited
company, incorporated as per file No. 51-376917-4 on the 29.12.2005.
Subject was
incorporated in view of the change in ownership, taking over all activities of
ELIAZ DIAM
Following this,
ELIAZ DIAM
SHARE CAPITAL
Authorized share
capital of
SHAREHOLDERS
Subject is fully owned by JULIUS KLEIN DIAM
SOLE DIRECTOR AND
GENERAL MANAGER
Azriel (Azri) Garty.
BUSINESS
Processors,
marketers and exporters of diamonds.
80% of sales are
for export.
Operating from rented
office premises, on an area of 188 sq. meters, in 1 Jabotinsky Street, Diamond
Exchange, Maccabi Building (14th floor, Room 1440), Ramat Gan, from
an owned plant, on an area of 110 sq. meters, in 25 Tuval Street, Ramat Gan,
and from offices in Belgium and Hong Kong.
Having 25
employees (same as in 2006).
MEANS
Stock was valued
at US$
Other and later
financial data not forthcoming.
There
ANNUAL SALES
2006 sales claimed
to be US$ 65,000,000, 80% of which were for export.
A 20% increase in sales was noticed in the first half of 2007 comparing
to the parallel period in 2006.
OTHER COMPANIES
ELIAZ DIAM
ELIAZ DIAM
JULIUS KLEIN ELIAZ DIAM
JULIUS KLEIN ELIAZ DIAM
BANKERS
Israel Discount Bank Ltd., Diamond Exchange branch (No. 080),
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 is part of
the American JULIUS KLEIN GROUP (JKG), a veteran (over 50 years) group in the
diamond and jewelry industry, a sightholder with offices in the
Azriel Garty is a
veteran well-known local diamantaire.
According to the
report published by the Israel Supervisor on Diamonds in the Ministry of
Industry and Trade, ELIAZ DIAM
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
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. |
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%)