MIRA
INFORM REPORT
|
Report Date : |
5th
January, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
I. C.
D. DIAMONDS LTD. |
|
|
|
|
Registered Office : |
1,
Jabotinsky Street, Maccabi Tower, Diamond Exchange, Ramat Gan 52520 Israel |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
30.06.2005 |
|
|
|
|
Com. Reg. No.: |
51-370475-9 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
International traders in diamonds. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Status : |
New
Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
Company Name & Address
I.C.D. DIAMONDS LTD.
Telephone
972 3 752 77 66
Fax 972 3 575 58 41
1,
Jabotinsky Street, Maccabi Tower
Diamond
Exchange
RAMAT GAN
52520 ISRAEL
HISTORY
A private
limited company, incorporated as per file No. 51-370475-9 on the 30.6.2005.
SHARE
CAPITAL
Authorized
share capital NIS 100,000.00, divided into -
100,000
ordinary shares, of NIS 1.00 each, of which shares amounting to NIS 100.00 were
issued.
SHAREHOLDERS
Subject
is fully owned by TELLUX INTERNATIONAL ENTERPRISES INC., a foreign company.
SOLE
DIRECTOR
Ms.
Miriam Elmaliach, of 24 Harav Cook, Netanya.
BUSINESS
International
traders in diamonds.
Operating
from premises in 1, Jabotinsky Street, Maccabi Tower (21st Floor – Room #34),
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 favor
of Israel Union Bank Ltd.
ANNUAL
SALES
Sales
figures not forthcoming.
OTHER
COMPANIES
R.R.
DIAMONDS LTD. (also known as R. ROSENTHAL LTD.), sister company, international
dealers in diamonds.
BANKERS
Israel Union Bank
Ltd., Ramat Gan Branch (No. 062), Ramat Gan.
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
Considering the
refusal to disclose any details, dealings are recommended on a secure basis.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|