MIRA
INFORM REPORT
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Report
Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
JULIUS
KLEIN ELIAZ DIAMONDS LTD. |
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Registered
Office : |
P.O Box 3264 (52132), 1
Jabutinsky Street, Ramat Gan 52520, Israel |
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Date
of Incorporation : |
29.12.2005 |
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Legal
Form : |
Private limited company |
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Line
of Business : |
Processors, marketers and
exporters of diamonds. |
RATING & COMMENTS
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MIRA’s
Rating : |
Ba |
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 : |
Usually
Correct |
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Litigation
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Clear |
NAME & ADDRESS
JULIUS KLEIN ELIAZ DIAMONDS LTD.
P.O
Box 3264 (52132)
1 Jabutinsky Street
RAMAT GAN 52520 ISRAEL
Telephone 972 3 575 33 47
Fax 972 3 575 35 67
HISTORY
A private limited company,
registered as per file No. 51-376917-4 on the 29.12.2005.
Subject was incorporated in order to
take over all activities of ELIAZ DIAMONDS LTD (established 1999), which became
non active following a change in ownership.
SHARE CAPITAL
Authorized share capital of NIS
100.00 divided into:- 100 ordinary shares of NIS 1.00 each, fully issued.
SHAREHOLDERS
Subject
is fully owned by JULIUS KLEIN DIAMONDS LLC, of the USA,
SOLE DIRECTOR AND GENERAL MANAGER
Azriel
(Azri) Garti.
BUSINESS
Processors, marketers and exporters
of diamonds.
Operating from rented premises, on
an area of 188 sq. meters, in 1 Jabutinsky street, Ramat Gan, from an owned
plant, on an area of 110 sq. meters, in 25 Tuval street, Ramat Gan, and from
offices in Belgium and Hong Kong.
Having 25 employees.
MEANS
Stock is valued at NIS 10,000,000.
There is 1 charge for unlimited
amount registered on the company's assets, in favor of Israel Discount Bank
Ltd.
ANNUAL SALES
January – March 2006 sales claimed
to be US$ 15,000,000, 80% for export.
OTHER COMPANIES
ELIAZ DIAMONDS, non active,
ELIAZ DIAMONDS LTD., non active.
BANKERS
Israel
Discount Bank Ltd., Diamond Exchange branch (no. 080), Ramat Gan, account no.
816140.
A check
with the central bank database did not reveal anything detrimental on subject’s
a/m account.
CHARACTER AND REPUTATION
Nothing unfavorable learnt.
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
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 |