MIRA
INFORM REPORT
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Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
Y. & A. HAUSMAN DIAMONDS LTD |
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Registered Office : |
21 Tuval Street (formerly 54 Bezalel Street), Diamonds Exchange, Yahalom Building, RAMAT GAN 52522 |
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Country : |
ISRAEL |
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Date of Incorporation : |
27.01.1986 |
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Legal Form : |
A private limited company |
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Line of Business : |
Traders, importers, exporters and marketers 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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Maximum Credit Limit : |
-- |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Correct NAME &
ADDRESS
Y. & A. HAUSMAN DIAMONDS LTD.
21 Tuval Street (formerly 54 Bezalel Street)
Diamonds Exchange, Yahalom Building
RAMAT GAN 52522 ISRAEL
Telephone 972 3 575 34 57
Fax 972 3 613 17 22
HISTORY
A private limited company, incorporated as per file No. 51-110214-7 on the 27.1.1986, continuing a business originally established in 1979.
SHARE CAPITAL
Authorized share capital of NIS 2,500.00 divided into: 2,500 ordinary shares of NIS 1.00 each, of which shares amounting to NIS 60.00 were issued.
SHAREHOLDERS
Subject is fully owned by Ygal Hausman.
DIRECTORS
1. Ygal Hausman, General Manager, born 1956,
2. Amnon Hausman (brother of Ygal), born 1948.
BUSINESS
Traders, importers, exporters and marketers of diamonds.
80% of sales are for export.
Operating from offices in 21 Tuval Street (formerly 54 Bezalel Street), Diamond Exchange, Yahalom Building (20th floor), Ramat Gan.
Having 10 employees.
MEANS
Subject's financial data not forthcoming, however known to be financially solid.
There are 2 charges for unlimited amounts registered on the company’s assets, in favor of Israel Discount Bank Ltd. and Mizrahi Tefahot Bank Ltd.
ANNUAL SALES
Sales figures not forthcoming.
OTHER COMPANIES
ONLINE DIAMOND TRADE LTD., 50% owned by Ygal Hausman, traders in
diamonds.
DIAMONDS AND JEWELLERY VIEW LTD.,
controlled by Ygal Hausman, developers, manufacturers, exporters and marketers
of software technologies, devices and solutions for the diamond field (e.g.
digital camera which enables on-line scanning and testing of diamonds).
HAUSMAN DIAMOND MANUFACTURERS (HK) LTD., Hong Kong.
BANKERS
Israel Discount Bank Ltd., Diamonds Exchange Branch (No. 080), Ramat Gan.
Mizrahi Tefahot Bank Ltd., Diamond Business Center Branch (No. 466), Ramat Gan.
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
Subject’s officials refused to disclose financial details on their company.
Subject, as well as Mr. Ygal Hausman, are well-known in the branch and enjoy a favorable business reputation.
Ygal Hausman was the president of the IsDMA (International Association of Diamond Manufacturers in Israel) from 1995 to 2001 (two terms) and currently serves as Honorary President of the IsDMA. Mr. Hausman comes from a family of diamantaires. In 1979, together with his brother, Amnon, he established a company for manufacturing and marketing diamonds. At a later, subject ceased its own manufacturing activities.
In 1990 the firm was awarded the title of Outstanding Exporter.
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 (over 50%). The secondary markets are Hong Kong (around 20%), Belgium (around 10%), Switzerland and the UK.
Since the beginning of 2007, import rough diamonds to Israel noted a 7.8% decrease comparing to the parallel period in 2006, due to a shortage in world markets, following the lowering in sales by DE BEERS and the tough winter in Africa that hurt mining. Nevertheless, the officials in the branch reported 11.7% increase in import of polished diamonds in January 2007.
In the first 2 months of 2007, export (net) of cut diamonds rose by 9.2% comparing to the parallel period in 2006, summing up to US$ 1.349 billion. Export of rough diamonds (net) also witnessed an increase.
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%)