MIRA
INFORM REPORT
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Report Date : |
26.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ASHISH DIAMONDS LTD. |
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Formerly Known as: |
A. DIAM LTD |
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Registered Office : |
P.O. Box 381 (52103), 54 Bezalel Street, Diamonds Exchange, Yahalom Tower, Ramat Gan 52521 |
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Country : |
Israel |
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Date of Incorporation : |
24.2.1997 |
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Com. Reg. No.: |
51-245395-2 |
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Legal Form : |
Private Limited
Company |
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Line of Business : |
Importers, exporters
and marketers, dealing with both polished and rough 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 |
name
ASHISH DIAMONDS LTD.
address
P.O. Box 381 (52103)
54 Bezalel Street
Diamonds Exchange, Yahalom Tower
RAMAT GAN 52521 ISRAEL
Telephone 972 3 613 21 62
Fax 972 3 751 81 64
HISTORY
A private limited company, incorporated as
per file No. 51-245395-2 on the 24.2.1997, under the name A. DIAM LTD., which
changed to the present name on 13.5.1997.
SHARE CAPITAL
Authorized share capital of NIS 32,700.00
divided into: 32,700 ordinary shares, of NIS 1.00 each,
of which shares amounting to NIS 1,000.00
were issued.
SHAREHOLDERS
1. Raxid Mehta, 85%,
2. Ashish Mehta, 15%, brother of Raxid, both of
India.
DIRECTORS &
GENERAL MANAGERS
1. Raxid Mehta (of registered address 12
Zlotitsky Street, Tel Aviv),
2. Ashish Mehta (of registered address 47 King
David Avenue, Tel Aviv).
BUSINESS
Importers, exporters and marketers, dealing
with both polished and rough diamonds.
Also processors of diamonds, through sub-contractors.
Sales are both for export and to the local
market.
Operating from offices in 54 Bezalel Street,
Diamonds Exchange, Yahalom Tower (7th Floor, rooms 765), Ramat Gan.
Having 3 employees.
MEANS
Financial data not forthcoming.
There are no charges registered on the
company's assets.
ANNUAL SALES
2006 sales claimed to be US$ 40,000,000,
most for export.
BANKERS
First International Bank of Israel Ltd., Diamonds
Exchange Branch (No. 026), Ramat Gan.
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
According to our sources, subject is
medium-sized relatively to the companies in its field in the Diamond Exchange.
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 (around 60%). The secondary markets are Hong Kong (15%),
Belgium (7%), Switzerland (5%) 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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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%)