MIRA
INFORM REPORT
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Report Date : |
14.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
HOLZMAN FABIAN
DIAMONDS LTD. |
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Formerly Known
as : |
FABIAN HOLZMAN DIAMONDS. |
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Registered
Office : |
1 Jabotinsky Street, Diamonds Exchange, Maccabi
Building Ramat GAN 52520 |
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Country : |
Israel |
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Date of
Incorporation : |
28.2.2007 |
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Legal Form : |
Private Limited Company |
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Line of Business
: |
Dealers, Traders in Diamonds. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
HOLZMAN FABIAN DIAMONDS LTD.
Telephone 972 3 575 95 72; 575 51 26
Fax 972 3 612 73 43
1 Jabotinsky Street
Diamonds Exchange, Maccabi Building
RAMAT GAN 52520 ISRAEL
HISTORY & LEGAL FORMATION
Originally founded
as a sole proprietorship, under the name FABIAN HOLZMAN DIAMONDS.
Converted into a private limited company and registered as such as per
file No. 51-394792-9 on the 28.2.2007.
SHARE CAPITAL
Authorized share
capital NIS 50,000.00, divided into -
50,000 ordinary shares of NIS 1.00 each, of
which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject
is fully owned by Fabian Holzman.
SOLE DIRECTOR & GENERAL
MANAGER
Fabian Holzman,
born 1970.
BUSINESS
Dealers, traders
in diamonds.
Operating from
offices in 1 Jabotinsky Street, Diamond Exchange, Maccabi Building (16th
floor, Room No. 57), Ramat Gan.
Number of employee
not forthcoming, though believed to be few.
MEANS
Financial data not
forthcoming.
There is 1 charge for an unlimited amount registered on the company's
assets, in favor of Mizrahi Tefahot Bank Ltd.
ANNUAL SALES
Sales figures not
forthcoming.
BANKERS
Mizrahi Tefahot
Bank Ltd., Diamond Business Center Branch (No. 466), Ramat Gan.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject's official refused to disclose any
data on his company.
Subject is a small
business.
Local diamond companies
are facing a depression in business in general in recent months due to the
recession in the U.S. markets. The American market has been the No. 1 export
market and the crisis in the U.S. market affects directly many Israeli diamond
companies, as purchasing has gone down dramatically. There are reports on
delays in payments from clients, causing a cash flow problem to some companies.
In the first half
of 2008, there was an increase trend in all money parameters of import and
export: export of cut diamonds (net) from Israel rose by 6% comparing to
parallel period in 2007, reaching US$ 3.8 billion (though carat value fell by
17%). Export of rough diamonds (net) from Israel also increased by 26% to US$
2.19 billion (2.5% fall in carat value).
Import of rough
diamonds (net) rose 15% in the first half of 2008 (from 2007) to US$ 2.77
billion (though carat value fell by 11%), while import of cut diamonds (net)
also increased in 2008 by 19.5% reaching US$ 2.35 billion (carat value rose by
2.3%).
Year 2007 marked a
record in the export of cut diamonds from Israel, with net sales for export of
US$ 7.076 billion, 7% rise from 2006 (US$ 6.611 billion). Total export of cut
and rough diamonds crossed for the first time the US$ 12 billion line. Exports
(net) of rough diamonds were US$ 3.386 billion, a 25.5% increase from 2006 (US$
2.701 billion, which was a 23.2% decrease from 2005).
Import of rough diamonds (net) rose 8% in 2007 by (from 2006) to
US$ 5.084 billion, while import of cut diamonds (net) also increased in 2007 by
13.3% reaching US$ 4.558 billion.
The USA is the
main market for Israel’s export of cut diamonds, although its portion has been
decreasing in view of the economic situation – the export rate is circa 41%,
comparing to 60%-65% in past years. The secondary markets are Hong Kong,
Switzerland, Belgium, U.K, and India.
SUMMARY
Considering the
refusal to disclose any data and subject being a small business, dealing are
recommended on a secure basis.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.82 |
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UK Pound |
1 |
Rs.80.01 |
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Euro |
1 |
Rs.63.83 |
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%)