MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
B. BRIZA COLORS DIAMONDS LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
3.3.2003 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, importers, processors and exporters 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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Correct Name & address
B. BRIZA COLORS
DIAM
Diamond Exchange,
Telephone 972 3 612 79 35
Fax 972 3 612 79
36
HISTORY
A private limited company,
incorporated as per file No. 51-338731-6 on the 3.3.2003.
Prior to
establishing subject, its shareholders operated independently for about 20
years each separately in the diamond his business, until they decided to
establish a joint company.
SHARE CAPITAL
Authorized share
capital of
SHAREHOLDERS
1. A.S. BRISK LTD., 50%, owned
by Amnon and Shai Barak,
2. KETSEF HAYAM LTD., 50%, owned
by Lior Izvutzki.
DIRECTORS
1. Amnon Barak, General Manager,
2. Shai Barak,
3. Lior Izvutzki.
BUSINESS
Traders,
importers, processors and exporters of diamonds.
60% of sales are
for export.
Among clients:
OVADIA DIAM
Diamonds
purchasing is both from import (mainly from
Operating from
rented offices, on an area of 50 sq. meters, in
Having 14
employees serving subject and sister company BRIZON.
MEANS
Financial data not
forthcoming.
There are 3
charges for unlimited amounts registered on the company’s assets, in favor of
Bank Leumi LeIsrael Ltd.
ANNUAL SALES
Sales figures not
forthcoming.
OTHER COMPANIES
BRIZON COLOR
SERVICES LTD., owned by subject's shareholders, operating from the same offices
as subject. Diamonds processors, specializing in color enhancing natural
polished diamonds.
BRIZA COLORS USA
INC.
BANKERS
Bank Leumi
LeIsrael Ltd., Diamonds Exchange Branch (No. 629),
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
CHARACTER AND
REPUTATION
Nothing
unfavorable learned.
Subject’s officials
refused to disclose financial data on their company.
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 4
months of 2007, import rough diamonds to
In the first 4
months of 2007, export (net) of cut diamonds rose by 6.7% (mainly thanks to
April sales) comparing to the parallel period in 2006, summing up to US$ 2.326
billion. Export of rough diamonds (net) also witnessed an increase comparing to
2006.
SUMMARY
Notwithstanding
the refusal to disclose financial data, 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%)