MIRA
INFORM REPORT
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Report Date : |
19.01.2007 |
IDENTIFICATION DETAILS
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Name : |
DOV
DIAM |
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Registered Office : |
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Country : |
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Date of Incorporation : |
23.9.1999 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Importers, exporters and
marketers of diamonds, dealing in diamond processing and setting. |
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
DOV DIAM
(Hebrew registered name: DOV DIAM
Diamond Exchange,
Telephone 972 3 575 23 27
Fax 972 3 575 08 48
HISTORY
A private limited company,
incorporated as per file No. 51-283362-5 on the 23.9.1999, continuing the
activities of a general partnership established in 1984, under the name DOV
DIAM
SHARE CAPITAL
Authorized share capital of
SHAREHOLDERS
1. Shlomo Dov Shimshowitz,
holding all management shares and 94% of ordinary shares issued,
2. PAZ ISRAEL DIAMONSDS, holding
6% of issued ordinary shares,
3. Mrs. Ilana Shimshowitz,
holding 1 single ordinary share.
SOLE DIRECTOR &
GENERAL MANAGER
Shlomo Dov Shimshowitz, born 1952, of
BUSINESS
Importers, exporters and
marketers of diamonds, dealing in diamond processing and setting.
Operating from office premises in
Having 10-20 employees.
MEANS
Financial data not forthcoming,
however has been known to be financially solid.
There are 4 charges for unlimited
amounts registered on the company's assets, in favor of local banks.
ANNUAL SALES
1999 sales for
export reported to
be US$ 36,000,000.
2000 sales for
export reported to
be US$ 37,000,000.
2001 sales for
export reported to
be US$ 25,000,000.
2002 sales for
export reported to
be US$ 31,000,000.
2003 sales for
export reported to
be US$ 35,000,000.
2004 sales for
export reported to
be US$ 40,000,000.
2005 sales for
export reported to
be US$ 35,000,000.
OTHER COMPANIES
PAZ ISRAEL DIAMONSDS, a
registered partnership, dealing in diamonds in the same areas as subject. Owned
by the Pozilov Bros.
BANKERS
Main branch not forthcoming,
however known to be working with:
Israel Union Bank Ltd., Diamond
Exchange Branch (No. 062),
Israel
Discount Bank Ltd., Diamond
Exchange Branch (No. 080),
First International Bank of
Israel Ltd., Diamond Exchange Branch (No. 026),
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
Subject's shareholder and Manager, Mr. Dov
Shimshowitz, refused to disclose any data on his company.
Subject is a veteran business,
well-known in the branch.
According to the report published
by the Israel Supervisor on Diamonds in the Ministry of Industry and Trade,
subject was ranked 25th in the 2005 list of
Mr. Dov Shimshowitz is the
son-in-law of Ben-Zion Pozilov, a leading diamond dealer and among the pioneers
in the local diamonds industry. The Pozilov family own PAZ ISRAEL DIAMONSDS
(founded in 1946) and involved in ELUL DIAM
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
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
SUMMARY
Notwithstanding the refusal to
disclose any 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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