MIRA
INFORM REPORT
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Report Date : |
5th
January, 2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
ADIR EL KRONFELD DIAMONDS
LTD. |
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Registered Office : |
P.O.
Box 465 (52103), 54 Bezalel Street, Yahalom Tower, Diamond Exchange, Ramat
Gan, 52521, Israel |
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Country : |
Israel |
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Date of Incorporation : |
28.12.2000 |
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Com. Reg. No.: |
51-305777-8 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, exporters, marketers and traders in
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 |
Company Name & Address
Correct Name: ADIR
EL KRONFELD DIAMONDS LTD.
Telephone
972 3 751 39 42 / 3
Fax 972 3 613 11 29
P.O. Box
465 (52103)
54
Bezalel Street, Yahalom Tower
Diamond
Exchange
RAMAT GAN 52521 ISRAEL
HISTORY
A private
limited company, incorporated as per file No. 51-305777-8 on the 28.12.2000.
SHARE
CAPITAL
Authorized
share capital NIS 39,100.00, divided into -
39,100
ordinary shares, of NIS 1.00 each, of which shares amounting to NIS 100.00 were
issued.
SHAREHOLDERS
1.
Yehoshua Kronfeld, 50%,
2.
Mrs. Pnina Kronfeld, wife of Yehoshua, 50%.
DIRECTORS
1.
Yehoshua Kronfeld, General manager,
2.
Mrs. Pnina Kronfeld.
BUSINESS
Importers,
exporters, marketers and traders in diamonds.
Operating
from rented premises, on an area of 30 sq. meters, in 54 Bezalel Street,
Yahalom Tower (13th Floor – Room #65), Diamond Exchange, Ramat Gan.
Having 2
employees (General Manager and another employee).
MEANS
Financial
data not forthcoming.
There is
1 charge for an unlimited amount registered on the company's assets, in favor
of Mizrahi Tefahot Bank Ltd.
ANNUAL
SALES
Sales
figures not forthcoming.
BANKERS
Mizrahi Tefahot Bank
Ltd., Diamonds Business Center Branch (No. 062), Ramat Gan, account No. 113172.
A check with the Central Banks' database did
not reveal anything detrimental on subject’s a/m account.
CHARACTER
AND REPUTATION
Nothing
unfavorable learned.
Subject’s
officials refused to disclose financial data on their 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
Notwithstanding the
refusal to disclose financial details, 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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