MIRA
INFORM REPORT
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Report Date : |
31.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHEHEBAR REFAEL DIAMONDS LTD. |
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Registered Office : |
3A Jabotinsky Street, Diamond Exchange, Yahalom Building, Ramat Gan 52520 |
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Country : |
Israel |
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Date of Incorporation : |
1990 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, processors, polishers, importers, exporters and marketers of
diamonds of all sorts. |
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
CHEHEBAR REFAEL DIAMONDS LTD.
3A Jabotinsky Street
Diamond Exchange, Yahalom Building
RAMAT GAN 52520 ISRAEL
Telephone 972 3 613 07 76
Fax 972 3 575 80
86
HISTORY
A private limited company, incorporated as per file No. 51-371189-5 on
the 18.7.2005, continuing business originally founded in 1990.
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
Subject is fully owned by Refael Chehebar.
SOLE DIRECTOR AND GENERAL MANAGER
Refael Chehebar, born 1962.
BUSINESS
Traders, processors, polishers, importers, exporters and marketers of
diamonds of all sorts.
Among local suppliers: I.G.T.S. DIAMONDS.
Operating from office premises, owned by the shareholder, in 3A
Jabotinsky Street, Diamond Exchange, Yahalom Building (12th floor,
Room No. 66), Ramat Gan.
Having 10 employees.
MEANS
Financial data not forthcoming.
There are 5 fixed and floating charges for unlimited amounts registered
on the company’s assets (financial assets), in favor of The First International
Bank of Israel Ltd. and the Union Bank of Israel Ltd.
ANNUAL SALES
Sales figures not forthcoming.
OTHER COMPANIES
CHEHEBAR REFAEL REAL ESTATE LTD., investments in real estate in Tel
Aviv, Petach Tikva, etc.
BANKERS
First International Bank of Israel Ltd., Diamond Exchange Branch (No.
026), Ramat Gan.
Union Bank of Israel Ltd., Ramat Gan Branch (No. 062), Ramat Gan.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
Subject's officials refused to disclose financial data.
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
Notwithstanding the refusal to disclose financial information,
considered 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%)