MIRA
INFORM REPORT
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Report Date : |
29th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
J.K.D. TRADING LTD. |
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Registered Office : |
54 Bezalel Street, Diamond
Exchange, Yahalom Tower, Ramat Gan 52521 Israel |
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Country : |
Israel |
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Date of Incorporation : |
04.03.1996 |
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Com. Reg. No.: |
51-229450-5 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Processors,
international traders, importers and exporters 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 : |
Regular |
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Litigation : |
Clear |
Company Name & Address
J.K.D. TRADING LTD.
(also
trading as: KATAN DIAMONDS")
Telephone 972 3 575 09 39
Fax 972
3 575 29 14
54 Bezalel Street
Diamond Exchange, Yahalom Tower
RAMAT GAN 52521 ISRAEL
HISTORY
A private limited company,
incorporated as per file No. 51-229450-5 on the 4.3.1996, continuing activities
of a business founded many years earlier.
SHARE CAPITAL
Authorized share capital of NIS
29,400.00 divided into: 29,400 ordinary shares, of NIS 1.00 each, of which
shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1.
Jacob
Kattan, 99%,
2.
Ron
Kattan, 1%, son of Jacob.
SOLE DIRECTOR AND GENERAL MANAGER
Jacob
Kattan
BUSINESS
Processors, international
traders, importers and exporters of diamonds.
Subject deals offers rounds,
princess-cut and fancy cut diamonds from 0.50 and upwards.
Some 80% of sales are for export.
Among service suppliers: KOREN
DIAMONDS, SHNITZER DIAMONDS.
Operating from office premises,
owned by the shareholders on an area of 70sq. meters, in 54 Bezalel Street,
Diamond Exchange, Yahalom Tower (12th floor, room No. 1271/2), Ramat
Gan.
Also operating from a branch in
the U.S.A.
Having 13 employees.
MEANS
Property (office) in the Yahalom
Tower, Diamond Exchange, owned by the shareholders, is valued at US$ 700,000.
Other financial data not
forthcoming.
There no charges registered on
the company's assets.
ANNUAL SALES
2005 sales claimed to be US$
14,000,000, of which US$ 11,000,000 were for export.
2006 sales claimed to be US$
14,000,000, of which US$ 11,000,000 were for export.
BANKERS
Mizrahi Tefahot Bank Ltd.,
Diamond Business Center Branch (No. 466), Ramat Gan.
CHARACTER AND REPUTATION
Nothing unfavorable learnt.
Subject's owner and General Manager, Jacob
Kattan, serves as the Vice-Chairman of the Tel Aviv Diamond Exchange Board. He
is a well-known figure in the branch and active in the promotion of Israel's
diamond activities worldwide.
In August 2005, it was reported
that the Jacob Kattan is first Israeli diamantaire to receive a special award
for his role in promoting trade relations between Israel and Australia.
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.
The USA is the main market for
Israel’s export of cut diamonds (59%). The secondary markets are Hong Kong
(17%), Belgium (8%), Switzerland (2%) and the UK (2%).
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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