MIRA
INFORM REPORT
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Report Date : |
5th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
GAVRIELOV JACOB |
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Registered Office : |
54 Bezalel Street, Diamond Exchange, Yahalom Tower, Ramat Gan 52521 Israel. |
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Country : |
Israel |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
51-268860-7 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Processor, importer, trader and exporter 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 : |
Usually
Correct |
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Litigation : |
Clear |
Company Name & Address
GAVRIELOV
JACOB
Telephone 972
3 613 53 46
Fax 972 3 613 71 20
54 Bezalel Street
Diamond Exchange, Yahalom Tower
RAMAT GAN 52521 ISRAEL
HISTORY
Originally established in 1996 as
a private limited company, incorporated as such as per file No. 51-268860-7,
under the name GAVRA DIAMONDS LTD.
As of 1.1.2006, owner Jacob Gavrielov
decided to transfer all activities to a sole proprietorship, and GAVRA DIAMONDS
LTD. became inactive (now in voluntary liquidation).
Subject operates as License
Dealer No. 004520839.
OWNER AND
GENERAL MANAGER
Jacob Gavrielov.
BUSINESS
Processor,
importer, trader and exporter of diamonds.
Most
sales are to the local market.
Among
local clients: LLD DIAMONDS, SHNITZER DIAMONDS, PAZ DIAMONDS, etc.
Most
purchasing are from Russia and India.
Operating from a rented office premises, on
an area of 24 sq. meters, in 54 Bezalel Street, Diamond Exchange, Yahalom Tower
(11th floor, room No. 88), Ramat Gan.
Having no employee (besides
owner).
MEANS
Current
stock is valued at US$ 2,000,000.
Other
financial data not forthcoming.
ANNUAL
SALES
GAVRA DIAMONDS LTD's 2005
sales claimed to be US$ 23,000,000.
Subject's
2006 sales claimed to be US$ 6,000,000.
BANKERS
Mizrahi Tefahot Bank Ltd.,
Diamond Business Center Branch (No. 466), Ramat Gan, account No. 166551.
A check with the Central Banks' database did
not reveal anything detrimental on subject’s a/m account.
CHARACTER AND REPUTATION
Nothing unfavorable learnt.
Until 31.12.2005 Mr. Jacob
Gavrielov used to operate in the framework of his fully owned firm GAVRA
DIAMONDS LTD. The firm employed several employees and worked in the same area
as subject. As Mr. Gavrielov realized he is getting older, he decided to close
the firm and work alone as a sole proprietor, in smaller scales.
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
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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