MIRA
INFORM REPORT
|
Report Date : |
31.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
ADY LEGZIEL EXPORT (1996) LTD. |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
14.4.1996 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Dealers (trade, import, export) in polished diamonds, offering wide range of diamonds. |
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 : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
Correct Name &
address
ADY LEGZIEL EXPORT (1996) LTD.
Diamond Exchange, Maccabi Bldg.
Telephone 972 3 612 84 19
Fax 972 3 612 84 20 /1
HISTORY
A private limited liability company, incorporated as per file No. 51-230988-1 on the 14.4.1996, under the name DANIEL LEGZIEL (EXPORT 1996) LTD., which changed to the present name on the 14.9.2000.
Prior to establishing subject, subject's owner, Adi Legziel, was partner of a family diamond business for many years (his late father, Daniel Legziel, founded a diamond business in 1950, which operated under several legal activities).
SHARE CAPITAL
Authorized share capital
SHAREHOLDERS
Subject is fully owned by Adi Legziel (registered name is Vitella Ady Albert Legziel).
SOLE DIRECTOR &
GENERAL MANAGER
Adi Legziel
BUSINESS
Dealers (trade, import, export) in polished diamonds, offering wide range of diamonds.
Subject also process diamond, however in rather very low volumes.
Operating from office premises in
Having 12 employees.
MEANS
Financial data not
forthcoming.
There
ANNUAL SALES
Sales figures not
forthcoming.
BANKERS
The First
International Bank of Israel Ltd., Diamond Exchange Branch (No. 026),
CHARACTER AND
REPUTATION
Nothing unfavorable learned.
Subject's General
Manager, Mr. Adi Legziel, refused
to disclose financial data on subject.
Mr. Ady Legziel's father, the late Daniel Legziel was a reputed veteran figure in the local diamond industry, including receiving a "distinguished exporter' award. He was the president of the IsDMA from 1983-1988 and president of the International Diamond Manufacturing Association (IDMA) from 1986-1990.
Daniel Legziel first founded business in the diamond industry in 1950 for polishing diamonds, part of a partnership that split up and then established his own company.
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
|
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. |
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%)