MIRA
INFORM REPORT
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Report Date : |
24th 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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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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions