MIRA
INFORM REPORT
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Report Date : |
16.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
YORAI BOROCHOV |
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Registered Office : |
P.O.
Box 3195 (52131), 33 Bezalel Street, Diamond Exchange, Paz Tower, Ramat Gan
52521 |
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Country : |
Israel |
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Date of Incorporation : |
1960 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Dealer, importer and trader of
cut 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
YORAI BOROCHOV
address
P.O. Box
3195 (52131)
33
Bezalel Street
Diamond
Exchange, Paz Tower
RAMAT GAN 52521 ISRAEL
Telephone 972
3 753 44 75
Cellular 972 54 397 37 27
Fax 972 3 753 44 74
HISTORY
A sole proprietorship,
established in 2004, continuing the business activities of a non-registered
business founded in the 1960s by Matithyahu Borochov, father of Yorai
(subject's owner).
License Dealer No. 029471760.
OWNER AND GENERAL
MANAGER
Yorai Borochov.
BUSINESS
Dealer, importer and trader of cut diamonds.
All sales are to the local market.
Among clients: GAFNI DIAMONDS, ELUL
DIAMONDS, A. DALUMI DIAMONDS, etc.
Operating from rented office, on an area of
30 sq. meters, in 33 Bezalel Street, Diamonds Exchange, Paz Tower, Ramat Gan.
We are informed that subject will move to
its nearby new office premises as of February 2007, in 54 Bezalel Street, Diamonds Exchange, 10th
floor (room 69), Yahalom Tower, Ramat Gan.
Having no employee (owner
operates solely).
MEANS
Current stock is valued at US$
2,000,000.
Other financial data not
forthcoming.
ANNUAL SALES
2006 sales claimed to be US$
3,000,000.
BANKERS
Union Bank of Israel Ltd.,
Diamonds Exchange Branch (No. 062), Ramat Gan, account No. 379600/40 (for
foreign currency) and No. 93796/64 (for local currency).
A check
with the Central Banks' data base did not reveal negative information on
subject’s a/m bank accounts.
CHARACTER AND
REPUTATION
We found nothing detrimental on
subject and its owner.
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.
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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