MIRA
INFORM REPORT
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Report Date : |
06.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
Y.A.D. TOBIAS LTD. |
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Registered Office : |
6 Betzalel Street, Industrial Zone, RAMAT GAN 52521 |
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Country : |
Israel |
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Date of Incorporation : |
03.06.2007 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designers, manufacturers, importers, marketers and exporters of gold jewelries
and gold with diamond combined jewelries, including bracelets, necklaces,
rings and earrings |
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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Maximum Credit Limit : |
US$ 150,000. |
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Status : |
New Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
Y.A.D. TOBIAS LTD.
Telephone 972 3 751 68 91
Fax 972 3 751 78 27
6 Betzalel Street
Industrial Zone
RAMAT GAN 52521 ISRAEL
HISTORY
A private limited company, incorporated as
per file No. 51-398470-8 on the 03.06.2007.
Subject begun
actual operations on 01.01.2008, after assuming all the business activities of
a public limited company, TOBIAS JEWELLERY LTD.
TOBIAS JEWELLERY
was originally founded in 1930 by the Tobias family, incorporated in 1972 as a
private limited company and later converted into a public company whose shares
traded on the Tel Aviv Stock Exchange.
The company was
controlled by the Tobias family all the years, until September 2007, when it
was sold as a shell company (in consideration of NIS 11.5 million) to third
parties, while the activities were assumed by subject (TOBIAS JEWELLERY LTD. is
active to date as a holding and real estate company).
SHARE CAPITAL
Authorized share
capital NIS 1,000,000.00, divided into - 1,000,000 ordinary shares of NIS 1.00
each, of which shares amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject is fully owned by Tobias family (u/m
directors), via the following holdings companies:
1. J.J.T INVESTMENTS &
HOLDINGS LTD., 50%,
2. E.D.I.T.O. INVESTMENTS & HOLDINGS LTD.,
27%,
3. R.O.I.T.E.M INVESTMENTS & HOLDINGS LTD.,
23%.
DIRECTOR
1.
Jacob Tobias, General Manager, son of the u/m,
2.
Edmond Tobias,
3.
Mrs. Dina Tobias.
BUSINESS
Designers,
manufacturers, importers, marketers and exporters of gold jewelries and gold
with diamond combined jewelries, including bracelets, necklaces, rings and
earrings.
75% of sales are
for export.
Operating from premises (offices and workshop), owned by the
shareholders, on an area of 300 sq. meters, in 6 Betzalel Street, Tel Aviv.
Having 20
employees.
MEANS
Current stock is valued at US$ 2,500,000.
Other financial data not forthcoming, however
based on the financial statements of TOBIAS JEWELLERY LTD. in 2006/7 the
company was financially solid.
There are no charges registered on the
company assets.
ANNUAL SALES
(Sales figures are
related to TOBIAS JEWELLERY LTD.)
2005 sales were
NIS 39,000,000.
2006 sales were
NIS 37,300,000.
First 9 months of
2007 sales were circa NIS 19,000,000,
The company has
been profitable.
OTHER COMPANIES
Also owned by the Tobias family, among others:
TOBIAS INVESTMENTS AND HOLDINGS (1993) LTD., real estate,
TOBIAS MARKETING LTD.
BANKERS
Israel Discount Bank Ltd., Main Branch (No.
010), Tel Aviv.
Mizrahi Tefahot Bank Ltd., Main Business Center Branch ((No. 461), Tel
Aviv.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
This is a very
long established family business, considered among the leading in their field
in Israel.
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.
Maximum unsecured credit recommended US$ 150,000.
NOTE
Marianna Feldman,
the name you provided in your enquiry, is subject's VP Marketing.
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%)