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MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
G.Y. (YOSIPOV) DIAMONDS LTD. |
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Registered Office : |
3 Jabotinsky Street Diamond Exchange, Shimshon Bldg. RAMAT GAN 52521 |
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Country : |
Israel |
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Date of Incorporation : |
15.12.1999 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, Importers, Processors, Exporters and Marketers 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
G.Y. (YOSIPOV)
DIAMONDS LTD.
Telephone 972 3 751
15 16
Fax 972
3 751 13 04
3 Jabotinsky
Street
Diamond Exchange,
Shimshon Bldg.
RAMAT GAN 52521 ISRAEL
HISTORY
A private limited company,
incorporated as per file No. 51-286979-3 on the 15.12.1999.
SHARE CAPITAL
Authorized share
capital of NIS 36,000.00 divided into:36,000 ordinary shares of NIS 1.00 each,
of which shares
amounting to NIS 100.00 were issued.
SHAREHOLDERS
Subject is fully owned by Gabriel Yosipov.
SOLE DIRECTOR AND GENERAL MANAGER
Gabriel Yosipov, born 1974.
BUSINESS
Traders,
importers, processors, exporters and marketers of diamonds.
100% of sales are
for export.
Among local
diamond suppliers: CHEHEBAR REFAEL DIAMONDS, SHEMESH ZEVULUN, etc.
Operating from
rented offices, on an area of 60 sq. meters, in 3 Jabotinsky Street, Diamond
Exchange, Shimshon Building (17th floor), Ramat Gan.
Having 10
employees.
MEANS
Financial data not
forthcoming.
There are 5
charges for unlimited amounts registered on the company's assets (financial and
fixed assets), in favor of Israel Discount Bank Ltd., Bank Leumi LeIsrael Ltd.
and a leasing company.
ANNUAL SALES
2006 sales claimed
to be US$ 20,000,000.
2007 sales claimed
to be US$ 20,000,000.
BANKERS
Israel Discount
Bank Ltd., Diamond Exchange Branch (No. 080), Ramat Gan, account No. 5349.
A check with the
Central Banks' database did not reveal negative information on subject’s a/m
bank account.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Prior to establishing subject, owner and
General Manager Mr. Gabriel (Gabi) Yosipov used to be a partner for 3 years at
GABISEF DIAMONDS, a general partnership (which ceased activities following the
establishment of subject and later was erased from the Registrar of
Partnerships).
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.21 |
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UK Pound |
1 |
Rs.79.76 |
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Euro |
1 |
Rs.64.72 |
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%)