MIRA
INFORM REPORT
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Report Date : |
08.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
A. SCHWARTZ & SONS
DIAMONDS LTD. |
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Registered Office : |
P.O Box 3026 (52130), 54 Bezalel Street, Ramat
Gan 52521 |
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Country : |
Israel |
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Date of Incorporation : |
24.10.1971 |
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Legal Form : |
Private limited company |
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Line of Business : |
Polishers, exporters and marketers of diamonds |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
NAME
A.
SCHWARTZ & SONS DIAMONDS LTD.
Telephone 972 3 613 08 90
Fax 972 3 575 13 92
P.O Box
3026 (52130)
54
Bezalel Street
RAMAT
GAN 52521ISRAEL
HISTORY
A private limited
company, incorporated as per file No. 51-058705-7 on the 24.10.1971.
Originally
registered under the name DONDI DIAMONDS COMPANY LTD., which changed to AHARON
SCHWARTZ & SONS DIAMONDS LTD. on 29.11.1980, which changed to the present
name on 11.11.2003.
SHARE CAPITAL
Authorized
share capital NIS 20,000.00, divided into:
20,000
ordinary shares of NIS 1.00 each, of which shares amounting to NIS 250.00 were
issued.
SHAREHOLDERS
1. Uri Schwartz, 84.8%,
2. Itay Schwartz, 15.2%.
DIRECTORS
1. Uri Schwartz, President,
2. Itay Schwartz.
GENERAL MANAGER
Kobi Herzmann.
BUSINESS
Polishers,
exporters and marketers of diamonds.
Operating
from owned premises, on an area of 300 sq. meters, in 54 Bezalel street, Ramat
Gan, and from branches in Germany and Hong Kong.
Having
110 employees.
MEANS
Stock
is valued at US$ 20,000,000.
There
are 3 charges for unlimited amounts registered on the company's assets, in
favor of Israel Discount Bank Ltd. and Union Bank of Israel Ltd.
ANNUAL SALES
2005
sales claimed to be US$ 80,000,000, 85% for export.
First
half of 2006 sales claimed to be US$ 40,000,000, 85% for export.
OTHER COMPANIES
A.
SCHWARZ & SONS (HONG KONG),
A.
SCHWARZ & SONS (GERMANY).
BANKERS
Israel
Discount Bank Ltd., Diamonds Exchange branch (no. 080), Ramat Gan, account no.
600888.
A check
with the central bank database did not reveal anything detrimental on subject’s
a/m account.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject
is one of Israel leading 10 diamond companies.
In
February 2003, it was reported that subject is considering to move its diamond
polishing activities to the Ukraine.
According
to the Ministry of commerce, total export of cut diamonds from Israel in 2004
(net) reached US$ 6.333 billion, a 14.4% increase from 2003.exports of rough
diamonds were US$ 2.92 billion, a 31% increase from 2003.
Import
of rough diamonds also increased by 32.4% to US$ 5.15 billion, and imports of
cut diamonds increased by 4.6% to US$ 3.405 billion.
The USA
is the main market for Israel’s export of cut diamonds (67%). The secondary
markets are in the Far East (of which Hong Kong 13% and Japan 2%) and Europe
(of which Belgium 7% and Switzerland 3%).
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 |