MIRA
INFORM REPORT
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Report Date : |
5th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
C. A.
M. D. DIAMONDS LTD. |
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Registered Office : |
54
Bezalel Street, Yahalom Tower, Diamond Exchange, Ramat Gan 52521 Israel |
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Country : |
Israel |
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Date of Incorporation : |
20.11.1994 |
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Com. Reg. No.: |
51-205176-4 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
International
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 : |
No
Complaints |
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Litigation : |
Clear |
Company Name & Address
C.A.M.D. DIAMONDS LTD.
Telephone
972 3 575 03 96
Fax 972 3 575 40 10
54 Bezalel
Street, Yahalom Tower
Diamond
Exchange
RAMAT GAN
52521 ISRAEL
HISTORY
A private
limited company, incorporated as per file No. 51-205176-4 on the 20.11.1994.
SHARE
CAPITAL
Authorized
share capital NIS 25,200.00, divided into -
200
founder shares,
25,000
ordinary shares, all of NIS 1.00 each, of which shares amounting to NIS
10,126.00 were issued.
SHAREHOLDERS
1.
CITIZENS INTERNTIONAL, 100% of founder shares and 99%
of ordinary shares, a company registered in Monrovia, Liberia, owned by diamond
merchants from Europe.
2.
Mordechai Perlman, 1% of ordinary shares.
3.
P. MOR TRUST CO. LTD, holding 1 single ordinary share.
SOLE
DIRECTOR (registered)
CITIZENS
INTERNATIONAL (registered address 30, Kalisher Street, Tel Aviv c/o Attorney
Office P. MOR & PARTNERS).
BUSINESS
International
traders in diamonds.
Operating
from premises in 54 Bezalel Street, Yahalom Tower, Diamond Exchange, Ramat Gan.
Having
several employees (had 3 in 2002).
MEANS
Financial
data not forthcoming.
There is
1 charge for an unlimited amount registered on the company's assets, in favour
of Israel Discount Bank Ltd.
ANNUAL
SALES
Sales
figures not forthcoming.
BANKERS
According to our
database, subject holds the following bank account: Israel Discount Bank Ltd.,
Diamond Exchange Branch (No. 080), Ramat Gan.
Note: As
officials refused to cooperate, we are unable to confirm the bank account you
provided: First International Bank of Israel Ltd. In the account details, 248
is supposed to be the branch number, but this bank does not have such a branch
number. The rest of the "account number" is the account number (which
normally comprised of 6 digits in this bank). The telephone numbers belong to
subject, not the bank branch.
CHARACTER
AND REPUTATION
Nothing
unfavorable learned.
Subject’s
officials refused categorically to disclose any 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 any 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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