MIRA
INFORM REPORT
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Report Date : |
2nd March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
M. AMAR DIAMONDS LTD. |
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Registered Office : |
6 Rambam Street, Netanya 42418 Israel. |
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Country : |
Israel |
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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 : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company Name & Address
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., Diamond 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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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%)
PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions