MIRA
INFORM REPORT
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Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
BECARO FINE JEWELLERY LTD. |
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Registered Office : |
15 Harakon Street, Industrial Zone, RAMAT GAN 52521 |
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Country : |
Israel |
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Date of Incorporation : |
31.12.2002 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designers, manufacturers, marketers and exporters of gold and
diamonds jewelry |
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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Maximum Credit Limit : |
US$ 25,000. |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
name & address
BECARO FINE
JEWELLERY LTD.
Telephone 972 3 616 64 15
Fax 972 3 616 64 16
15 Harakon Street
Industrial Zone
RAMAT GAN 52521 ISRAEL
HISTORY
A private limited company, incorporated as per
file No.
51-335292-2 on the 31.12.2002.
Subject was
established as subject's 2 shareholders (as below), both veterans in the
jewelry business, decided to join forces.
SHARE CAPITAL
Authorized share
capital NIS 100,000.00, divided into - 100,000 ordinary shares of NIS 1.00
each, of which shares amounting to NIS 1,000.00 were issued.
SHAREHOLDERS
1. Arieh Bick, 50%,
2. Shaul Yaro, 50%.
DIRECTOR AND JOINT GENERAL
MANAGERS
1. Arieh Bick,
2. Shaul Yaro.
BUSINESS
Designers, manufacturers,
marketers and exporters of gold and diamonds jewelry.
All sales are for
export.
Operating from rented premises (offices and workshop), 15 Harakon
Street, Industrial Zone, Ramat Gan (to where they moved about a month ago from
28 Lehi Street, Bnei Brak).
Number of
employees not forthcoming.
MEANS
Financial data not forthcoming.
There is 1 fixed
charge for an unlimited amount registered on the company on the company
financial assets, as well as one fixed charge for the sum of NIS 46,000.00, registered on the company
vehicle, both in favor of Bank Hapoalim Ltd.
ANNUAL SALES
Sales figures not
forthcoming.
BANKERS
Bank Hapoalim Ltd., Etgarim Branch (No. 407), Ra'anana, account No.
007105.
A check with the Central Banks' database did
not reveal negative information on subject’s a/m bank account.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject's General
Manager, Mr. Arieh Bick, was willing to provide only most general data on
subject.
According to the Israeli Export Institute,
export of the jewelry branch in 2006 reached US$ 390 million, comparing to US$
380 million in 2005. The division in export was 80% for gold jewelry (of which
34% were gold mixed with diamonds), 12.5% silver jewelries and 7.5% fashion
jewelries.
There are some 250 jewelry manufacturers, 200
of which are exporters, manufacturing gold jewelry, silver jewelry and other
fashionable jewelry.
Over 50% of exporters are to the USA, some 20%
to Europe, 5% to Asia (mainly Hong Kong and Thailand) and the balance to the
rest of the world.
SUMMARY
Good for trade engagements.
Considering the refusal to disclose financial data, maximum unsecured
credit recommended US$ 25,000.
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%)