MIRA
INFORM REPORT
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Report Date : |
19.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
M. AMAR DIAMONDS LTD. |
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Registered Office : |
6 Rambam Street, NETANYA –
42418 |
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Country : |
Israel |
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Financials (as on) : |
2006 |
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Date of Incorporation : |
24.07.2001 |
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Com. Reg. No.: |
51-313151-6 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Traders
in 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
M. AMAR DIAMONDS LTD.
Telephone 972 9 865 22 31
Cellular 972
54 397 74 93
Fax 972 9
885 78 80
6 Rambam Street
NETANYA – 42418, ISRAEL
HISTORY
A private limited company,
incorporated as per file No. 51-313151-6 on the 24.7.2001.
SHARE CAPITAL
Authorized share capital of NIS
50,000.00 divided into:
50,000 ordinary shares of NIS
1.00 each, of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject is fully owned by Moshe Amar.
DIRECTORS &
GENERAL MANAGER
Moshe
Amar
BUSINESS
Traders in diamonds.
Subject imports most of the
diamonds and sells locally only, in the Tel Aviv Diamond Exchange.
Also manufacturers and marketers
of round stones.
Operating from an office at the
private residence of the shareholder in 6 Rambam Street, Netanya.
Also operating a lot from the
Diamond Exchange Yahalom Tower's Trading Hall in 54 Bezalel Street, Ramat Gan.
Having 2 employees.
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
2005 sales claimed to be US$ 2,000,000.
2006 sales claimed to be US$ 3,000,000.
BANKERS
Mizrahi
Tefahot Bank Ltd., Diamonds Business Center Branch (No. 466), Ramat Gan.
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
Subject's owner and General
Manager refused to disclose financial details, besides sales figures.
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
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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