MIRA
INFORM REPORT
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Report Date : |
24.11.2008 |
IDENTIFICATION DETAILS
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Name : |
LEVI & ALONI
DIAMONDS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
06.03.2006 |
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Legal Form : |
General Partnership |
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Line of Business : |
International Traders, Importers, Processors, Exporters and Marketers
of Diamonds (dealing in diamonds of 0.5 karat or above). |
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
LEVI & ALONI DIAM
Telephone 972 3 575 02 16
Fax 972 3 575 12 49
Diamond Exchange, Maccabi Bldg.
HISTORY & LEGAL FORMATION
A general
partnership established on the 06.03.2006 as per file No. 54-022291-6.
Subject was formed
by its two u/m partners, both veteran in the local diamond sector, who decided
to join forces in 2006.
(Note: Subject’s
name may also be spelled: “LEVY AND ALONI DIAMONDS”).
PARTNERS
1. David Levi,
2. Eyal Aloni.
JOINT GENERAL MANAGERS
1. David Levi,
2. Eyal Aloni.
BUSINESS
International
traders, importers, processors, exporters and marketers of diamonds (dealing in
diamonds of 0.5 karat or above).
80% of sales are
for export.
Operating from office
premises, owned by the shareholders, on an area of 100 sq. meters,
Having 6 employees
(2 General Managers and another 4 employees).
MEANS
Financial data not
obtainable.
ANNUAL SALES
Sales figures not
obtainable.
BANKERS
Mizrahi Tefahot
Bank Ltd.,
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject’s officials
refused to disclose financial details.
Local diamond
companies have been facing some depression in business in general in recent
period due to the recession in the
The crisis in the
world financial markets affected the diamond industry: Export of cut diamonds
(net) during the first 10 months of 2008 summed up to US$ 5.8 billion,
representing a 2.2% decrease comparing to parallel period in 2007. That after
in October 2008, cut diamonds export fell by 46% comparing to October 2007.
Export of rough diamonds (net) from
Import of rough
diamonds (net) rose 1.7% in the first 10 months of 2008 (from 2007) to US$ 4.07
billion, while in October alone import fell by 52.6%. Import of cut diamonds
(net) also fell sharply in October 2008 by 44.4% reaching total of US$ 3.79
billion for the whole first 10 months of 2008.
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). 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
According to the
President of the Israeli Diamonds Association, local banks are expected to
contract credit given to local diamond firms, in view of the global financial
crisis. However, he believes the local diamond sector is healthy, as trade in
the sector rolls annual turnover of US$ 25 billion whereas total debt to the
banks stands on US$ 2.5 billion.
SUMMARY
Notwithstanding
the refusal to disclose financial details, considered good for trade
engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.09 |
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1 |
Rs.74.90 |
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Euro |
1 |
Rs.63.40 |
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%)