MIRA
INFORM REPORT
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Report Date : |
27.09.2007 |
IDENTIFICATION DETAILS
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Name : |
LESHEM PRIMA DIAMOND'S LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
17.1.2007 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Dealers in diamond. |
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
LESHEM PRIMA DIAMOND'S LTD.
Diamond Exchange,
Telephone 972 3 575 58 55/
6
Fax 972 3 575 58
60
HISTORY
A private limited company, incorporated as per file No. 51-392614-7 on
the 17.1.2007.
SHARE CAPITAL
Authorized share capital
SHAREHOLDERS
1. YAHALOMEI ESPEKA INTERNATIONAL LTD. (YEI), 60%, owned
by Abraham Fluk (50%) and Itzhak Phillip
Zivan-Sussholz,
2. Yaacov Marmelstein, 16%,
3. Dubby Bitton, 8%,
4. Rony Levy, 8%,
5. Efraim Stern, 8%.
DIRECTORS
1. Yaacov Marmelstein, General Manager,
2. Dubby Bitton
3. Rony Levy,
4. Efraim Stern,
5. YAHALOMEI ESPEKA INTERNATIONAL LTD. is also
registered as a director in subject.
BUSINESS
Dealers in diamond.
Operating from office premises in
Number of employees not forthcoming.
There are over 50 employees serving parent company ESPEKA DIAMONDS in
MEANS
Financial data not forthcoming, however enjoying the financial backing
of parent YEI.
There are 2 charges for unlimited amounts registered on the company's
assets, in favor of Bank Leumi LeIsrael Ltd.
ANNUAL SALES
Sales figures not forthcoming.
YEI sales for export in 2005 were US$
139,000,000.
YEI sales for export in 2006 were US$
156,000,000
(sales are higher as there are sales to the
local market as well).
OTHER COMPANIES
YAHALOMEI ESPEKA INTERNATIONAL LTD., subject's
parent company, originally founded in the 1960's, importers, processors, exporters, marketers and international dealers in
diamonds, also co-owners of:
VOEGELI & WIRZ AG/AS, of
BANKERS
Bank Leumi LeIsrael Ltd., Diamond Exchange Business Branch (No. 743),
CHARACTER AND
REPUTATION
Nothing unfavorable learned.
Subject's parent company YAHALOMEI ESPAKA
INTERNATIONAL LTD., known in short as YEI, is one of the largest and leading diamond
dealers in the local diamond market. It is a sight holder since 1971 and
operating from manufacturing and processing facilities in
In 1999 YEI was awarded the "Excellent Exporter" Award from
the Ministry of Industry & Trade.
According to the report published by the Israel Supervisor on Diamonds
in the Ministry of Industry and Trade, YEI was ranked 7th in the
2005 list of Israel's largest polished diamonds exporters and advanced to the 6th
place in the 2006 list of the largest exporters.
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
Notwithstanding the lack of data, being a subsidiary of YAHALOMEI ESPEKA INTERNATIONAL LTD., considered good for trade
engagements.
NOTE
We managed to speak to subject's General Manager, Mr. Yaacov
Marmelstein, however he refused to disclose any data on subject.
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%)