MIRA
INFORM REPORT
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Report Date : |
25.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
M.A. ANAVI DIAMOND GROUP |
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Formerly Known as : |
AVI ANAVI DIAMONDS. |
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Registered Office : |
1 Jabotinsky Street, Diamond Exchange, Maccabi Bldg., RAMAT GAN 52520
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Country : |
Israel |
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Date of Incorporation : |
29.6.2004 |
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Legal Form : |
General Partnership |
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Line of Business : |
Processors,
Importers, Exporters and Marketers of Diamonds (Chiefly), as well as Jewelry
(Relatively Minor Activity). |
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
M.A. ANAVI DIAMOND
GROUP
Telephone 972 3 613 12 77
Fax 972
3 613 12 76
1 Jabotinsky Street
Diamond Exchange,
Maccabi Bldg.
RAMAT GAN 52520
ISRAEL
HISTORY
Originally
established as a sole proprietorship by Abraham (Avi) Anavi in 1984, under the
name AVI ANAVI DIAMONDS.
Converted into a general partnership and registered
as such as per file
No. 54-021659-5 on the 29.6.2004.
PARTNERS
1. Abraham (Avi) Anavi,
2. Meir Anavi.
JOINT GENERAL MANAGERS
1. Abraham (Avi) Anavi,
2. Meir Anavi.
BUSINESS
Processors,
importers, exporters and marketers of diamonds (chiefly), as well as jewelry
(relatively minor activity).
30% of sales are
for export.
Operating from
office premises, owned by the partners, on an area of 125 sq. meters in 1
Jabotinsky Street, Maccabi Building, 19th floor, Ramat Gan.
Also operating
from office branches in Belgium, India and South Africa.
Having 15
employees in Israel, and 25 in the Group, including all offices abroad (same as
in 2007).
MEANS
Current Stock was
valued at US$ 10,000,000 in mid 2007.
Property owned by
the partners at the Maccabi Building (offices where subject is operating from)
is valued at US$ 1,350,000.
Other and later
financial data not forthcoming.
ANNUAL SALES
2005 sales claimed
to be US$ 70,000,000, 20% of which were exports.
2006 sales claimed
to be US$ 80,000,000, 25% of which were exports.
2007 sales claimed
to be US$ 100,000,000, 30% of which were exports.
BANKERS
First
International Bank of Israel Ltd., Diamond Exchange Branch (No. 026), Ramat
Gan.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
This is a long
established family business (which started as a non-registered business by Avi
Anavi and converted into a registered partnership following the entrance of
Meir Anavi.
In 2007 list of
Israel's largest polished diamonds exporters, published by the Israel
Supervisor on Diamonds in the Ministry of Industry and Trade, subject was
ranked 28th largest diamond exporter with exports of US$ 30 million.
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%)