MIRA
INFORM REPORT
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Report Date : |
19.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
ELIBA DIAMONDS
LTD. |
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Registered Office : |
P.O. Box 508 (52105), 54 Bezalel Street (also referred as 21
Tuval Street), Diamond Exchange, Yahalom Building, Ramat Gan 52521 |
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Country : |
Israel |
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Date of Incorporation : |
14.7.2004 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Dealers in 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 |
Correct Name &
address
ELIBA DIAMONDS LTD.
P.O. Box 508 (52105)
54 Bezalel Street (also referred as 21 Tuval Street)
Diamond Exchange, Yahalom Building
RAMAT GAN 52521 ISRAEL
Telephone 972 3 613 19 91
Fax 972 3 613 19 93
HISTORY
A private limited company, incorporated as per file No. 51-356654-7 on the 14.7.2004.
Activities begun in July 2005.
SHARE CAPITAL
Authorized share capital of NIS 10,000.00 divided into:- 10,000 ordinary shares of NIS 1.00 each, of which shares amounting to NIS 100.00 issued.
SHAREHOLDERS
Subject is fully owned by Shavit Eliba.
SOLE DIRECTOR AND
GENERAL MANAGER
Shavit Eliba.
BUSINESS
Dealers in polished diamonds.
Purchasing is both from import and local suppliers.
Operating from rented premises, on an area of 50 sq. meters, in 54 Bezalel Street, Diamond Exchange, Yahalom Building, Ramat Gan (street name is also referred to as Tuval Street, and the Yahalom Building is in number 21).
Having 2 employees (same as in 2006).
MEANS
Financial data not
forthcoming.
There are no charges
registered on the company's assets.
ANNUAL SALES
July – December 2005 sales claimed to be US$ 3,000,000, 90% for export.
2006 sales claimed to be US$ 7,000,000, 90% for export.
BANKERS
The First
International Bank of Israel Ltd., Diamond Exchange Branch (No. 026), Ramat Gan, account No.
134988.
A check with the Central
Banks' database did not reveal anything detrimental on subject’s a/m account.
CHARACTER AND
REPUTATION
Nothing unfavorable learnt.
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.
During the first quarter of 2007, import rough diamonds to Israel noted a 4.9% increase comparing to the parallel period in 2006.
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%)