MIRA
INFORM REPORT
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Report Date : |
17.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
A.A. RACHMINOV DIAMONDS (2000) LTD. |
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Registered Office : |
3 Jabotinsky Street, Diamond Exchange, Yahalom Building, Ramat Gan 52520 |
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Country : |
Israel |
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Date of Incorporation : |
31.1.2000 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, polishers, importers, exporters and marketers 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 : |
No Complaints |
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Litigation : |
Clear |
Correct Name
A.A. RACHMINOV DIAMONDS (2000) LTD.
address
3 Jabotinsky Street
Diamond Exchange, Yahalom Building
RAMAT GAN 52520 ISRAEL
Telephone 972 3 613 05 25
Fax 972 3 613 05 27
HISTORY
A private limited company, incorporated as per file No. 51-289516-0 on the 31.1.2000.
SHARE CAPITAL
Authorized share capital of NIS 35,000.00 divided into: 35,000 ordinary shares, of NIS 1.00 each, of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject is fully owned by Ori Rachminov.
SOLE DIRECTOR AND GENERAL MANAGER
Ori Rachminov, born 1972.
BUSINESS
Traders, polishers, importers, exporters and marketers of diamonds.
Operating from office premises, in 3 Jabotinsky Street, Diamond Exchange, Yahalom Building (3rd floor, Room No. 75), Ramat Gan.
Having around 15 employees (exact number of employees not forthcoming).
MEANS
Financial data not
forthcoming, however known to be financially solid.
There are 2 charges for unlimited amounts registered on the company’s assets (financial assets), in favor of The First International Bank of Israel Ltd.
ANNUAL SALES
2005 sales for export of cut diamonds reported to be US$ 51,000,000.
2006 sales for export of cut diamonds reported to be US$ 74,000,000.
(The data is
published by the Israel Supervisor on Diamonds in the Israel Ministry of
Industry and Trade).
BANKERS
First International Bank of Israel Ltd., Diamond Exchange Branch (No. 026), Ramat Gan.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
Subject's officials refused to disclose any data on subject.
Subject is
well-known in the branch and considered strong.
According to the report
published by the Israel Supervisor on Diamonds in the Ministry of Industry and
Trade, subject was ranked 12th in the 2006 list of Israel's largest polished
diamonds exporters. Subject's ranking in 2005 was 20th.
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 (over 50%). The secondary markets
are Hong Kong (around 18%), Belgium (around 8%), Switzerland (7%) and the UK
(4%).
During the first 10 months of 2007, import rough diamonds (net) to Israel noted a 10% increase comparing to the parallel period in 2006, summing at US$ 4.1 billion. Import of cut diamonds (net) also rose - by 12% up to US$ 3.52 billion. In the first 10 months of 2007, export of cut diamonds (net) rose by 6.9% comparing to the parallel period in 2006, summing up to US$ 5.93 billion. Export of rough diamonds (net) also witnessed an increase of 26.7% to US$ 2.86 billion.
SUMMARY
Notwithstanding the
refusal to disclose information, 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. |
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%)