MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
BONFIL DIAMONDS LTD. |
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Registered Office : |
8 Harakon Street, Ramat Gan 52521 |
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Country : |
Israel |
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Date of Incorporation : |
11.1.2007 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Importers, processors,
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 : |
Regular |
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Litigation : |
Clear |
Correct Name
BONFIL DIAMONDS LTD.
address
8 Harakon Street
RAMAT GAN 52521 ISRAEL
Telephone 972 3 613 58 15
Fax 972 3 613 58 15
HISTORY
A private limited company,
incorporated as per file No. 51-392358-1 on the 11.1.2007, continuing the
activities of a sole proprietorship business founded many years ago, under the
name BONFIL DIAMONDS, by Nissim Bonfil.
SHARE CAPITAL
Authorized share capital of NIS
32,000.00 divided into: 32,000 ordinary shares, of NIS 1.00 each,
fully issued.
SHAREHOLDERS
1. Roei Bonfil, 43%,
2. Yossi Bonfil, 43%,
3. Nissim Bonfil, 14%, father of
the a/m shareholders.
SOLE DIRECTOR AND
GENERAL MANAGER
Nissim
Bonfil
BUSINESS
Importers, processors, exporters
and marketers of diamonds.
Operating from office premises,
on an area of 40 sq. meters, in 8 Harakon Street, (a building situated in the
Diamond Exchange Compound, 3rd Floor), Ramat Gan.
Having 3 employees (the 3
shareholders).
MEANS
Financial data not forthcoming.
There are no charges registered
on the company's assets.
ANNUAL SALES
Sales figures data not
forthcoming.
BANKERS
Mizrahi
Tefahot Bank Ltd., Diamonds Business Center Branch (No. 466), Ramat Gan.
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
Subject's officials refused to disclose
financial data on their company.
Subject is a relatively small
business.
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
Notwithstanding the refusal to
disclose financial data, 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/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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