MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
TOMBAR DIME DIAMONDS LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
21.11.1986 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and exporters, processors, polishers and marketers of
diamonds and jewelries. |
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
TOMBAR DIME DIAMONDS LTD.
Diamond Exchange,
Telephone 972 3 575 03 48
Fax 972 3 613 38
26
HISTORY
A private limited company, incorporated as per file No. 51-115275-3 on
the 21.11.1986.
SHARE CAPITAL
Authorized share capital of
SHAREHOLDERS
1. Modi Nimish, 45%,
2. Mita Modi, 25%,
3. Itash Shah, 15%,
4. Fredip Komar Domodran, 15%.
DIRECTORS
1. Modi Nimish, General Manager,
2. Mita Modi.
BUSINESS
Importers and exporters, processors, polishers and marketers of diamonds
and jewelries.
Diamonds are sold in
Diamond purchasing is from
Operating from office premises (owned by the shareholders), on an area of
120 sq. meters, in 21 Tuval Street, Diamond Exchange, Yahalom Building (3rd
floor, Rooms No. 93-96), Ramat Gan.
Having 8 employees.
MEANS
Financial data not forthcoming.
There is 1 charge for an unlimited amount registered on the company's
assets, in favor of Israel Discount Bank Ltd.
ANNUAL SALES
Sales figures not forthcoming.
OTHER COMPANIES
NAAM DIAMONDS LTD., owned by Modi Nimish (66.66%) and Fredip Kumar
Domodran (33.33%). Importers and exporters, processors, polishers and marketers
of diamonds, operating from same premises as subject.
BANKERS
Israel Discount Bank Ltd., Diamond Exchange Branch
(No. 080),
CHARACTER AND
REPUTATION
Nothing unfavorable learned.
Subject’s officials, refused to disclose financial details on the
company.
Subject is long established and well-known in the local diamond trade.
The diamonds branch has been recuperating from the deep crisis it got
into during 2005/6, the worst one for decades, which affected the profitability
of Israeli diamond businesses.
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
During the first half of 2007, import rough diamonds (net) to
In the first half of 2007, export of cut diamonds rose by 6% (mainly
thanks to April sales) comparing to the parallel period in 2006, summing up to
US$ 3.59 billion. Export of rough diamonds (net) also witnessed an increase of
22% to US$ 1.74 billion.
SUMMARY
Notwithstanding the refusal to disclose financial information,
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)