MIRA
INFORM REPORT
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Report Date : |
26th February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
JACOB EIZENMAN |
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Registered Office : |
1 Jabotinsky Street, Diamonds Exchange, Maccabi Building, Ramat Gan 52520, Israel. |
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Country : |
Israel |
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Line of Business : |
Dealers in 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 : |
Undetermined |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
Company
Name & Address
JACOB EIZENMAN
Cellular 972 54 397 47 89
Fax 972 8 921 87 73
1 Jabotinsky
Street
Diamonds Exchange,
Maccabi Building
RAMAT GAN 52520 ISRAEL
HISTORY
A non-registered
business (date of establishment and License Dealer Number not forthcoming).
OWNER AND
GENERAL MANAGER
Jacob Eizenman.
BUSINESS
Dealers in diamonds.
Operating from the
Exchange Hall, in 1 Jabotinsky Street, Diamond Exchange, Macabbi Building,
Ramat Gan.
Number of employee
not forthcoming, though believed to one or two.
MEANS
Financial data not forthcoming.
ANNUAL
SALES
Sales figures not forthcoming.
BANKERS
Bank data not forthcoming.
CHARACTER AND REPUTATION
We found nothing
detrimental on subject and its owner.
Subject's owner, Mr. Jacob Eizenman, refused to disclose any data on his business.
Subject appears to
be a small business. It has no fixed line telephone number and the fax number
is not in the Diamond Exchange office.
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%).
Import rough
diamonds noted a 23.7% decrease in January 2007, due to a shortage in world
markets, following the lowering in sales by DE BEERS and the tough winter in
Africa that hurt mining. Nevertheless, the officials in the branch report a
11.7% increase in import of polished diamonds in January 2007.
SUMMARY
Considering the
refusal to disclose any data, dealing are recommended on a secure 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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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