MIRA
INFORM REPORT
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Report Date : |
27.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
B. BRIZA COLORS DIAMONDS LTD. |
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Registered Office : |
21 Tuval Street, Diamond Exchange, Yahalom Building, Ramat GAN 52522 |
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Country : |
Israel |
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Date of Incorporation : |
3.3.2003 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, Importers, Processors and Exporters of 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
B. BRIZA COLORS
DIAMONDS LTD.
Telephone 972 3 612 79 35
Fax 972 3 612 79 36
21 Tuval Street
Diamond Exchange, Yahalom Building
RAMAT GAN 52522 ISRAEL
HISTORY
A private limited
company, incorporated as per file No. 51-338731-6 on the 3.3.2003.
Prior to
establishing subject, its shareholders operated independently for about 20
years each separately in the diamond his business, until they decided to
establish a joint company.
SHARE CAPITAL
Authorized share
capital of 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
1. A.S. BRISK LTD., 50%, owned
by Amnon and Shai Barak,
2. KETSEF HAYAM LTD., 50%, owned
by Lior Izvutzki.
DIRECTORS
1. Amnon Barak, General Manager,
2. Shai Barak,
3. Lior Izvutzki.
BUSINESS
Traders,
importers, processors and exporters of diamonds. 60% of sales are for export.
Among clients:
OVADIA DIAMONDS, RACHMINOV DIAMONDS, AVI PAZ FANCY, AUSTRALIA DIAMONDS, etc.
Diamonds
purchasing is both from import (mainly from India) and from the local market. Among
local suppliers: MOSHE NAMDAR & CO., LEO SHECHTER DIAMONDS.
Operating from
rented offices, on an area of 50 sq. meters, in 21 Tuval Street (formerly 54
Bezalel Street), Diamond Exchange, Yahalom Building (10th floor,
suit No. 1061), Ramat Gan. Premises are shared with sister company.
Having 14
employees serving subject and sister company BRIZON (same as in 2008).
MEANS
Financial data not
forthcoming.
There are 3 fixed
and floating charges for unlimited amounts registered on the company’s assets
(financial assets), in favor of Bank Leumi LeIsrael Ltd.
ANNUAL SALES
Consolidated sales
by subject and sister company BRIZON COLOR SERVICES LTD.:
2006 sales claimed
to be US$ 8,000,000, 60% of which were for export.
2007 sales claimed
to be US$ 8,000,000, 60% of which were for export.
OTHER COMPANIES
BRIZON COLOR
SERVICES LTD., owned by subject's shareholders, operating from the same offices
as subject. Diamonds processors, specializing in color enhancing natural
polished diamonds.
BRIZA COLORS USA
INC.
BANKERS
Bank Leumi
LeIsrael Ltd., Diamonds Exchange Branch (No. 629), Ramat Gan, account No.
001395/86.
A check with the Central Banks' database did not reveal any negative
information regarding subject's a/m account.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject’s
officials refused to disclose financial data on their company, besides sales
figures.
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 since mid 2007,
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
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%)