MIRA
INFORM REPORT
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Report Date : |
17.01.2007 |
IDENTIFICATION DETAILS
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Name : |
PRIMEDIAM
LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
5.3.1989 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Processors, 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 : |
Usually
correct |
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Litigation : |
Clear |
name & address
PRIMEDIAM LTD.
Diamonds Exchange,
Telephone 972 3 575 97 30; 575 97 31
Fax 972 3 575 76 77
HISTORY
A private limited company,
incorporated as per file No. 51-137017-3 on the 5.3.1989.
SHARE CAPITAL
Authorized share capital of
of which shares amounting to
SHAREHOLDERS
1. Sanjay Shah, 50%,
2. Nisha Mehta Shah, 50% (both of registered
address
There
are no registered directors to subject.
GENERAL MANAGER
Sanjay
Shah
BUSINESS
Processors, importers, exporters
and marketers of diamonds.
Operating from offices in
Also operating from a branch in
Mumbai.
Having 1 employee (besides
owners).
MEANS
Financial data not forthcoming.
There are 2 charges for unlimited
amounts registered on the company's assets, in favor of the Israel Union Bank
Ltd.
ANNUAL SALES
Sales figures not forthcoming.
BANKERS
Union Bank of Israel Ltd., Ramat
Gan Branch (No. 062),
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
Subject's General Manager, Mr.
Sanjay Shah, refused to disclose 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
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 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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