MIRA
INFORM REPORT
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Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
GALCO DIAMONDS |
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Registered Office : |
3, Jabotinsky
Street, Exchange Hall, Shimshon Building, Ramat Gan 52520 |
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Country : |
Israel |
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Date of Incorporation : |
21.3.1991 |
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Legal Form : |
General partnership |
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Line of Business : |
Engaged as 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 : |
Regular
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Litigation : |
Clear |
Name & address
GALCO DIAMONDS
Telephone 972 54 397 77 87; 54 397 72 17
Fax 972 3 575 04 64 (general fax no. of the Diamond Exchange Hall)
3, Jabotinsky Street
Exchange Hall, Shimshon Building
RAMAT GAN 52520 ISRAEL
HISTORY
A general partnership established on the 21.3.1991 as per file No. 54-017628-6.
PARTNERS
1. Yaacov Galili,
2. Ms. Irit Galili.
GENERAL MANAGER
Yaacov Galili
BUSINESS
International traders in diamonds.
Operating from the hall of the Shimshon Building, part of the Diamond Exchange complex, 3 Jabotinsky Street, Ramat Gan.
Having 4 employees.
MEANS
Financial data not forthcoming.
ANNUAL SALES
2005 sales claimed to be US$ 20,000,000, most of which were exports.
OTHER COMPANIES
GALCO DIAMONDS (2000) CO. LTD., non-active.
BANKERS
Union Bank of Israel Ltd., Ramat Gan Branch (No. 062), Ramat Gan.
CHARACTER AND REPUTATION
Nothing unfavourable learned.
According
to a report from June 2006, the local diamonds branch is in deep crisis, and
only 30% of Israeli diamonds companies are managing to make a profit. Part of
the crisis is attributed to the new marketing systems of the global monopoly DE
BEERS.
According
to the Ministry of Industry and Trade, total export of cut diamonds from Israel
in 2005 (net) reached US$ 6.706 billion, 5.8% increase from 2004. Exports of
rough diamonds were US$ 3.51 billion, 20.6% increase from 2004.
Import
of rough diamonds also increased by 3.2% to US$ 5.31 billion and imports of cut
diamonds increased by 9.3% reaching US$ 4.508 billion.
In the
first 5 months of 2006, exports of cut diamonds were US$ 3.043 million, 1.5%
decrease from the parallel period in 2005, and imports of rough diamonds
decreased by 11.6%.
The USA
is the main market for Israel’s export of cut diamonds (69%). The secondary
markets are Hong Kong (13%), Belgium (6%), Switzerland (4%) and the UK (2%).
SUMMARY
Good for trade engagements.
NOTE: please notice subject's correct address
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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