MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
STAR – ROUGH (ISRAEL) LTD. |
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Registered Office : |
3 Jabotinsky Street, Diamond Exchange,
Shimshon Building, Ramat Gan 52520 |
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Country : |
Israel |
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Date of Incorporation : |
30.11.1986 |
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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 : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed
to be exercised |
Credit not recommended |
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Status : |
Small
Concern |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
name & address
STAR – ROUGH (ISRAEL) LTD.
3 Jabotinsky Street
Diamond Exchange, Shimshon Building
RAMAT GAN 52520 ISRAEL
Telephone 972 3 575 26 68
Fax 972 3 575 26 68
HISTORY
A private limited company,
incorporated as per file No. 51-115490-8 on the 30.11.1986.
SHARE CAPITAL
Authorized share capital of NIS
2,640.00 divided into: 2,640 ordinary shares, of NIS 1.00 each, of which shares
amounting to NIS 300.00 were issued.
SHAREHOLDERS
1. Prashnat Primal Kotari,
56.66%,
2. Gavari Rages Sorash, 33.33%,
3. Mehta Mokash Bhavesh, 10%.
SOLE DIRECTOR AND
GENERAL MANAGER
Prashnat
Primal Kotari
BUSINESS
Importers, processors, exporters
and marketers of diamonds.
Operating from owned office
premises, in 3 Jabotinsky Street, Diamond Exchange, Shimshon Building (2nd
Floor, Room No. 218), Ramat Gan and from an office in India.
Having 2 employees.
MEANS
Financial data not forthcoming.
There are no charges registered
on the company's assets.
ANNUAL SALES
Sales figures data not
forthcoming.
BANKERS
Israel
Discount Bank Ltd., Diamond Exchange Branch (No. 080), Ramat Gan.
CHARACTER AND
REPUTATION
According to our sources, subject
experienced some troubles recently, however their nature is not known.
Apart of that, we found nothing
detrimental in our files and searches on subject.
We spoke with subject's secretary refused to
disclose financial data on subject. She said that subject's General Manager,
Mr. Kotari, is presently abroad and she does not know when he returns.
Subject is a long established
company.
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
For the time being, dealings are
recommended on a secured basis.
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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