MIRA
INFORM REPORT
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Report Date : |
11.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
LEE - PAZ JEWELLERY LTD. |
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Registered Office : |
19 Yaacov Meridor Street Tel Aviv
69411 |
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Country : |
Israel |
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Date of Incorporation : |
27.09.1987 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Designers, Manufacturers, Traders and Marketers of Gold Jewellery |
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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Maximum Credit Limit : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
LEE - PAZ JEWELLERY LTD.
Telephone 972 3 648 97 49
Fax 972
3 648 62 92
19 Yaacov Meridor Street
TEL AVIV 69411
ISRAEL
HISTORY
A private limited
company, incorporated as per file No. 51-123087-2 on the 27.09.1987.
SHARE CAPITAL
Authorized share
capital NIS 60,000.00, divided into: –
2 management
shares,
8 special shares,
59,990 ordinary
shares, all of NIS 1.00 each, of which shares amounting to NIS 202.00 were
issued.
SHAREHOLDER
Subject is fully owned by Yehuda Nadav.
SOLE
DIRECTOR & GENERAL MANAGER
Yehuda Nadav, born 1950.
BUSINESS
Designers, manufacturers, traders and marketers of gold jewellery.
90% of sales of are for export.
Operating from rented premises (offices and workshop), on an area of 120
sq. meters, in 19 Yaacov Meridor Street, Tel Aviv.
Having 20 employees.
MEANS
Financial data not forthcoming.
There is 1 charge for an unlimited amount registered on the company’s
assets, in favor of The First International Bank of Israel Ltd.
ANNUAL
SALES
Sales figures not forthcoming.
BANKERS
The First International Bank of Israel Ltd., Avnei Hen Branch (No. 126),
Ramat Gan.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
Subject’s owner and General Manager, Yehuda Nadav, refused to disclose
financial data.
According to the Israeli Export Institute,
export of the jewelry branch in 2007 reached US$ 410 million, comparing to US$
390 million in 2006.
The division in export was 43% for unmixed gold
jewelry, 37% were gold mixed with diamonds (17% rise from 2006), 13% fashion
jewelries and 7% of silver jewelries.
The branch activities have been influenced by
the significant rise in gold prices in the world markets in the recent period.
There are some 250 jewelry manufacturers, 200
of which are exporters, manufacturing gold jewelry, silver jewelry and other
fashionable jewelry.
Most exports are to the USA and Canada and
Western Europe.
SUMMARY
Notwithstanding the refusal to disclose
financial details, considered good for trade engagements.
Maximum unsecured credit recommended US$ 150,000.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.44 |
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UK Pound |
1 |
Rs.79.62 |
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Euro |
1 |
Rs.63.48 |
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%)