MIRA
INFORM REPORT
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Report Date : |
18.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
ASHISH DIAMONDS LTD. |
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Registered Office : |
P.O. Box 381 (52103), 54 Bezalel Street, Diamonds Exchange, Yahalom Tower, Ramat Gan 52521 |
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Country : |
Israel |
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Date of Incorporation : |
24.2.1997 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Importers,
exporters and marketers, dealing with both polished and rough 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
ASHISH DIAMONDS LTD.
address
P.O. Box 381 (52103)
54 Bezalel Street
Diamonds Exchange, Yahalom Tower
RAMAT GAN 52521 ISRAEL
Telephone 972 3 613 21 62
Fax 972 3 751 81 64
HISTORY
A private limited company,
incorporated as per file No. 51-245395-2 on the 24.2.1997, under the name A.
DIAM LTD., which changed to the present name on 13.5.1997.
SHARE CAPITAL
Authorized share capital of NIS
32,700.00 divided into: 32,700 ordinary shares, of NIS 1.00 each,
of which shares amounting to NIS
1,000.00 were issued.
SHAREHOLDERS
1. Raxid Mehta, 85%,
2. Ashish Mehta, 15%, brother of Raxid, both of
India.
DIRECTORS &
GENERAL MANAGERS
1. Raxid Mehta (of registered address 12
Zlotitsky Street, Tel Aviv),
2. Ashish Mehta (of registered address 47 King
David Avenue, Tel Aviv).
BUSINESS
Importers, exporters and
marketers, dealing with both polished and rough diamonds. Also processors of diamonds, through
sub-contractors.
Sales are both for export and to
the local market.
Operating from offices in 54
Bezalel Street, Diamonds Exchange, Yahalom Tower (7th Floor, rooms
765), Ramat Gan.
Having 3 employees.
MEANS
Financial data not forthcoming.
There are no charges registered
on the company's assets.
ANNUAL SALES
2006 sales claimed to be US$
40,000,000, most for export.
BANKERS
First International Bank of
Israel Ltd., Diamonds Exchange Branch (No. 026), Ramat Gan.
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
According to our sources, subject
is medium-sized relatively to the companies in its field in the Diamond
Exchange.
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
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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