MIRA
INFORM REPORT
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Report Date : |
25.10.2007 |
IDENTIFICATION DETAILS
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Name : |
ASHISH DIAM |
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Formerly Name: |
A. DIAM LTD |
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Registered Office : |
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Country : |
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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. Also processors of diamonds, through
sub-contractors. |
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 |
COMPANY NAME &
ADDRESS
ASHISH DIAM
Diamonds Exchange,
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
SHAREHOLDERS
1. Raxid Mehta, 70%,
2. Ashish Mehta, 15%,
brother of Raxid, both of
3. Sailes C. Botra, 15%.
DIRECTORS &
GENERAL MANAGERS
1. Raxid Mehta, General Manager
(of registered address
2. Ashish Mehta (of
registered address
BUSINESS
Importers, exporters and marketers, dealing with both polished and rough
diamonds. Also processors of diamonds, through sub-contractors.
Around 60% of sales are for export and 40% to the local market.
Operating from offices, on an area of 105 sq. meters (partly owned and
partly rented), in
Also operating from offices in
Having 3 employees (besides the managers).
There are 6 employees in the Group (including in
MEANS
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
2006 sales claimed to be US$ 40,000,000, most for export.
First 9 months of 2007 sales claim to be US$ 40,000,000, 60% of which
were for export.
OTHER COMPANIES
VIJAY DIAM, a sister company in
BANKERS
First International Bank of Israel Ltd., Diamonds Exchange Branch (No.
026),
CHARACTER AND REPUTATION
Nothing unfavorable learned.
According to our sources, subject is medium-sized relatively to the
companies in its field in the Diamond Exchange. It enjoys good reputation.
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 half of 2007, import rough diamonds (net) to
In the first half of 2007, export of cut diamonds rose by 6% (mainly
thanks to April sales) comparing to the parallel period in 2006, summing up to
US$ 3.59 billion. Export of rough diamonds (net) also witnessed an increase of
22% to US$ 1.74 billion.
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. |
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%)