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MIRA
INFORM REPORT
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Report Date : |
31.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
MICHAEL JACOBY
(ISRAEL) LTD. |
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Registered Office : |
21 Tuval Street, Diamond Exchange, Yahalom Tower, Ramat Gan 52131 |
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Country : |
Israel |
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Date of Incorporation : |
19.9.1993. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, Importers, Exporters and Marketers of Cut 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 : |
No Complaints |
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Litigation : |
Clear |
name
& address of the company
MICHAEL JACOBY (ISRAEL) LTD.
Telephone 972 3 613 13 40; 575 32 14
Fax 972 3 613 13 40
21 Tuval Street
Diamond Exchange, Yahalom Tower
RAMAT GAN 52131 ISRAEL
HISTORY
A private limited company, incorporated as per file No. 51-185709-6 on the 19.9.1993.
SHARE CAPITAL
Authorized share capital of NIS 17,600.00 divided into:
17,600 ordinary shares, of NIS 1.00 each, of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. Michael Jacoby, 99%,
2. Ms. Karry Jacoby, 1%, both of the U.S.A.
SOLE DIRECTOR & GENERAL
MANAGER
Michael Jacoby
BUSINESS
Traders, importers, exporters and marketers of cut diamonds.
Over 90% of sales are for export.
Among local service suppliers: BRINKS ISRAEL.
Operating from rented offices premises, on an area of 20 sq. meters, in 21 Tuval Street, Diamond Exchange, Yahalom Tower, Ramat Gan.
Having 3 employees (same as in 2006 and 2007).
MEANS
Financial data not forthcoming.
There are no charges registered on the company's assets.
ANNUAL SALES
Sales figures not forthcoming.
BANKERS
Mizrahi Tefahot Bank Ltd., Diamonds Business Center Branch (No. 466), Ramat Gan.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
Mr. Michael Jacoby, subject's General Manager and owner, refused to disclose financial data on his business.
According to the Diamond Administration Director, year 2007 was full of challenges to the global diamond branch, but the Israeli diamond branch coped with it well.
It should be noted that Israeli diamond dealers note some slowdown in activities, attributed to the sub-prime crisis in the U.S markets.
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 (over 50%). The secondary markets are Hong Kong (around 18%), Belgium (around 8%), Switzerland (6%) and India (1.5%).
SUMMARY
Notwithstanding the refusal to disclose financial details, considered good for trade engagements.
NOTE
Brinks – which you mention in your enquiry, is the company that transfer subject's diamonds in Israel.
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%)