MIRA
INFORM REPORT
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Report Date : |
03.05.2007 |
IDENTIFICATION DETAILS
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Name : |
W.G.A.G. DIAM |
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Registered Office : |
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Country : |
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Date of Incorporation : |
5.7.2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, processors, exporters and marketers of rough and polished
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 & address
W.G.A.G. DIAM
Diamond Exchange,
Telephone 972
3 751 94 92
Fax 972 3 752 39 18
HISTORY
A private limited company,
incorporated as per file No. 51-356340-3 on the 5.7.2004.
SHARE CAPITAL
Authorized share
capital of
SHAREHOLDERS
Subject is fully owned by Amos Raz.
SOLE DIRECTOR AND
GENERAL MANAGER
Amos Raz.
BUSINESS
Importers,
processors, exporters and marketers of rough and polished diamonds. 90% of
sales are for export.
Among local
clients: GALKO DIAM
Among local
suppliers: LLD DIAMONDS, AVI PAZ FANCY, SHUMEL FISCHER DIAMONDS, ROBERT
BABAYEV, etc.
Operating from
office premises on an area of 60 sq. meters, rented in
Having 4
employees.
MEANS
Current stock is valued at US$ 1,000,000.
Other Financial
data not forthcoming.
There are 2 charges for unlimited amounts registered on the company's assets,
in favor of The First International Bank of Israel Ltd.
ANNUAL SALES
2005 sales claimed
to be US$ 50,000,000, of which 90% were for export.
2006 sales claimed
to be US$ 50,000,000, of which 90% were for export.
BANKERS
The First International Bank of Israel Ltd., Diamond Exchange Branch
(No. 026),
Union Bank of Israel Ltd., Ramat Gan Branch (No. 062),
A check with the Central Banks' database did not reveal anything
detrimental on subject’s a/m accounts.
CHARACTER AND
REPUTATION
Nothing
unfavorable learnt.
Mr. Amos Raz,
owner and General Manager of subject is veteran in the diamonds business with
experience of over 30 years. Prior to establishing
subject he used to be a partner in several diamond companies.
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
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
quarter of 2007, import rough diamonds to
In the first
quarter of 2007, export (net) of cut diamonds fell by 2.1% comparing to the
parallel period in 2006 (main decrease in March), summing up to US$ 1.913
billion. In contrast, export of rough diamonds (net) witnessed an increase
comparing to 2006.
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%)