MIRA
INFORM REPORT
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Report Date : |
19.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
BACHARUZI DIAMONDS LTD. |
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Registered Office : |
3 Jabotinsky Street, Diamond
Exchange, Shimshon Tower Ramat Gan, 52520 |
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Country : |
Israel |
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Date of Incorporation : |
18.3.1999 |
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Com. Reg. No.: |
51-275963-0 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Traders, importers and
marketers of diamonds |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Small
Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
CORRECT NAME
BACHARUZI DIAMONDS LTD.
Telephone 972
3 613 00 39
Fax 972 3 613
00 39
3 Jabotinsky Street
Diamond Exchange, Shimshon Tower
RAMAT GAN 52520 ISRAEL
HISTORY
A private limited company,
incorporated as per file No. 51-275963-0 on the 18.3.1999.
SHARE CAPITAL
Authorized share capital of NIS
34,300.00 divided into:
34,300 ordinary shares of NIS
1.00 each,
of which shares amounting to NIS
100.00 were issued.
SHAREHOLDERS
1. Eyal Bacharuzi, 99%,
2. Mrs. Orit Bacharuzi, 1%.
SOLE DIRECTOR
According to the Registrar of Companies,
subject's listed sole director is Eyal Reuveni.
Note: The registered ID number of Eyal Reuveni
is very similar to this of Eyal Bacharuzi. It may well be that it is the same
person, who changed his surname or has a second surname. It is also rather
common that there are author's errors in the Registrar of Companies records.
As
subject's officials refused to cooperate, we were unable to confirm this point.
GENERAL MANAGER
Eyal Bacharuzi.
BUSINESS
Traders, importers and marketers
of diamonds.
Operating from office premises in
3 Jabotinsky Street, Diamond Exchange, Shimshon Tower, Ramat Gan.
Number of employees not
forthcoming.
MEANS
Financial data not forthcoming.
There is 1 charge for an
unlimited amount registered on the company's assets, in favor of Mizrahi
Tefahot Bank Ltd.
ANNUAL SALES
Sales figures not forthcoming.
BANKERS
Known to be working with:
Mizrahi Tefahot Bank Ltd.,
Diamond Business Center Branch (No. 466), Ramat Gan.
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
Subject's shareholder and Manager, Mr. Eyal
Bacharuzi, refused to disclose any data on his company.
Subject appears to be a
relatively small business.
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
Considering the refusal to
disclose any data, dealings are recommended on a secured basis.
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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