MIRA
INFORM REPORT
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Report Date : |
16.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
GAFNI
DIAMONDS LTD. |
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Registered Office : |
54 Bezalel Street,
Diamond Exchange, Yahalom
Tower, Ramat Gan 52520 |
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Country : |
Israel |
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Date of Incorporation : |
11.1.1988 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders,
importers, exporters and marketers of 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 |
Correct Name
GAFNI DIAMONDS
LTD.
address
54
Bezalel Street
Diamond
Exchange, Yahalom Tower
RAMAT GAN 52520 ISRAEL
Telephone 972 3
575 97 02
Fax 972 3 613 09 43
HISTORY
A private
limited company, incorporated as per file No. 51-126382-4 on the 11.1.1988.
Originally registered under the
name R & B DIAMONDS LTD., which changed to the present name on the 4.2.1988.
SHARE CAPITAL
Authorized
share capital NIS 2,640.00, divided into –2,640 ordinary shares of NIS 0.01
each, of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. Yuval
Gafni, 85%,
2. Gideon
Gafni, 15%.
SOLE DIRECTOR & GENERAL MANAGER
Yuval
Gafni
BUSINESS
Traders,
importers, exporters and marketers of diamonds.
Sales are
both for exports and to the local market.
Among
customers are the Tel Aviv Diamond Exchange members.
Diamond
purchasing is both from import and from the local market.
Operating
from office premises, in 54 Bezalel Street, Diamond Exchange, Yahalom Tower, 19th
floor, Ramat Gan.
Having 3
employees.
MEANS
Financial
data not forthcoming.
There are
3 charges for unlimited amounts registered on the company's assets, in favor of
Union Bank of Israel Ltd.
ANNUAL SALES
Sales
figures not forthcoming.
BANKERS
Union
Bank of Israel Ltd., Ramat Gan Branch (No. 062), Ramat Gan.
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
Subject's officials refused to
disclose any financial data.
Subject is long established.
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
Notwithstanding the refusal to
disclose financial data, considered 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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