MIRA
INFORM REPORT
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Report Date : |
11.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
DIAMANTI LTD |
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Registered Office : |
P.O. Box 389 (52103), 21 Tuval Street, Diamond Exchange,
Yahalom Building, Ramat Gan 52521, |
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Country : |
Israel |
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Date of Incorporation : |
23.9.1999 |
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Com. Reg. No.: |
51-283362-5 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, Exporters and Marketers of Small Diamond Stones |
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 |
COMPANY NAME &
ADDRESS
DIAMANTI LTD.
P.O. Box 389 (52103)
21 Tuval Street
Diamond Exchange, Yahalom Building
RAMAT GAN 52521
ISRAEL
Telephone 972 3 571 61 70
Fax 972 3 612 25 70
HISTORY
A private limited company, incorporated as per file No. 51-283362-5 on
the 23.9.1999, continuing the activities of a non-registered partnership
established in 1994, under the name "DIAMANTI".
SHARE CAPITAL
Authorized share capital of NIS 24,000.00 divided into: 24,000 ordinary
shares, of NIS 1.00 each, of which shares amounting to NIS 10,050.00 were
issued.
SHAREHOLDERS
1. Zion Bezalel, over 99%,
2. Joseph Tayar, less than 1%.
SOLE DIRECTOR
Joseph Tayar.
GENERAL MANAGER
Zion Bezalel.
BUSINESS
Importers, exporters and marketers of small diamond stones.
Over 50% of sales are exported.
Among clients: AFIC DIAMONDS, GAL DIAMONDS, SAMUEL - ROSENBAUM (1999),
etc.
All purchasing is from import.
Operating from rented office premises, on an area of 40 sq. meters, in
21 Tuval Street (formerly 54 Bezalel Street), Diamond Exchange, Yahalom
Building (16th Floor, Room 1671), Ramat Gan.
Having 7 employees (same as in the beginning of 2007).
MEANS
Financial data not forthcoming, however has been known to be financially
solid.
There are 2 charges for unlimited amounts registered on the company's
assets, in favor of Union Bank of Israel Ltd.
ANNUAL SALES
2005 sales claimed to be US$ 19,000,000, over 50% of which was
for export.
2006 sales claimed to be US$ 20,000,000, over 50% of which was
for export.
2007 sales claimed to be US$ 20,000,000, over 50% of which was
for export.
OTHER COMPANIES
We are informed that subject's owners are also involved in other
companies, however names not forthcoming.
BANKERS
Union Bank of Israel Ltd., Diamond Exchange Branch (No. 062), Ramat Gan,
account No. 370400/93.
A check with the Central Banks' database did not
reveal anything detrimental on subject’s a/m account.
CHARACTER AND
REPUTATION
Nothing unfavorable learned.
According to the Ministry of Industry and Trade, the local diamonds
branch managed to stabilize the total volume of export of cut diamonds during
2006, a year that witnessed many local and global challenges, and end in the
same level as 2005. In rough diamonds a decrease was noted, due to marketing
motives, and as high prices made the trade in rough diamonds less attractive.
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 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 (7%) and the UK (4%).
During the first 10 months of 2007, import rough diamonds (net) to
Israel noted a 10% increase comparing to the parallel period in 2006, summing
at US$ 4.1 billion. Import of cut diamonds (net) also rose - by 12% up to US$
3.52 billion. In the first 10 months of 2007, export of cut diamonds (net) rose
by 6.9% comparing to the parallel period in 2006, summing up to US$ 5.93
billion. Export of rough diamonds (net) also witnessed an increase of 26.7% to
US$ 2.86 billion.
SUMMARY
Good for trade engagements.
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%)