MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
BALI DIAMONDS |
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Registered Office : |
3, Jabotinsky Street, Diamond Exchange, Shimshon Tower, Ramat Gan 52520 |
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Country : |
Israel |
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Year of Establishment : |
2002 |
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Legal Form : |
General Partnership |
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Line of Business : |
Traders,
Importers and Exporters of Diamonds, Chiefly Polished Diamonds. |
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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Name & address
BALI DIAMONDS
Telephone 972 3 751 28 50
Fax 972 3 751 28 50
3, Jabotinsky
Street
Diamond Exchange,
Shimshon Tower
RAMAT GAN 52520 ISRAEL
HISTORY
Originally
established as a sole proprietary by Gabriel Bareli in 2002.
Converted into a
general partnership and registered as such as per file No. 54-021917-7 on the
18.1.2005.
PARTNERS
1. Gabriel Bareli,
2. Ms. Irma Bareli.
GENERAL MANAGER
Gabriel Bareli
BUSINESS
Traders, importers
and exporters of diamonds, chiefly polished diamonds.
Operating from
rented office, on an area of 30 sq. meters, in 3 Jabotinsky Street, Diamond
Exchange, Shimshon Building, 20th floor (Suit 2018), Ramat Gan.
Having 4 employees
(same as in 2006 and 2007).
MEANS
Financial data not
forthcoming.
ANNUAL SALES
2005 sales claimed
to be over US$ 2,000,000, 70% of which were exports.
First 9 months of 2006
sales claimed to be over US$ 1,500,000, 70% of which were exports.
Later sales
figures not forthcoming.
BANKERS
Israel Discount
Bank Ltd., Diamond Exchange Branch (No. 080), Ramat Gan.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Mr. Gabriel
Bareli, subject's General Manager and partner, refused to update financial
data.
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
Notwithstanding
the refusal to update financial details, 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%)