MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
V GOLDI LTD. |
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Registered Office : |
54 Betzalel
Street, Diamond Exchange, Yahalom Bldg., Ramat Gan 52521 |
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Country : |
Israel |
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Date of Incorporation : |
15.05.2003 |
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Legal Form : |
A Private Limited Company |
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Line of Business : |
Importers,
Marketers And Exporters of Diamonds of all sorts. |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
V. GOLDI LTD.
Telephone 972 3 613 17 87
Fax 972 3 613 17 86
54 Betzalel Street
Diamond Exchange,
Yahalom Bldg.
RAMAT GAN 52521 ISRAEL
HISTORY & LEGAL FORMATION
A private limited
company, incorporated as per file No. 51-340945-8 on the 15.05.2003.
SHARE CAPITAL
Authorized share
capital of NIS 39,000.00 divided into -
39,000 ordinary shares of NIS
1.00 each,
of which shares
amounting to NIS 100.00 were issued.
SHAREHOLDERS
1. Kukadia Pravinbhai, 50%,
2. Patel Girish Kumar, 50%.
DIRECTORS
1. Kukadia Pravinbhai, General Manager,
2. Patel Girish Kumar.
BUSINESS
Importers,
marketers and exporters of diamonds of all sorts.
Most sales are for
export.
Among foreign
suppliers: SHREE RAM KRISHNA EXPORT, of India.
Operating from a
rented office premises, in 54 Betzalel Street, Diamond Exchange, Yahalom
Building (17th floor, room #87), Ramat Gan.
Subject’s General
Manager is the sole employee.
MEANS
Financial data not
forthcoming.
There are 2 charges for unlimited amounts
registered on the company's assets, in favor of Union Bank of Israel Ltd.
ANNUAL SALES
Sales figures not
forthcoming.
BANKERS
Union Bank of Israel Ltd., Ramat Gan Branch
(No. 062), Ramat Gan.
State Bank of India Ltd. (SBI), Ramat Gan
Branch (No. 001), Ramat Gan.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject’s General
Manager refused to disclose financial details.
Subject is part of
the Indian Group SHREE RAM KRISHNA EXPORT.
Local diamond
companies are facing a depression in business in general in recent months due
to the recession in the U.S. markets. The American market has been the No. 1
export market and the crisis in the U.S. market affects directly many Israeli
diamond companies, as purchasing has gone down dramatically. There are reports
on delays in payments from clients, causing a cash flow problem to some
companies.
In the first half
of 2008, there was an increase trend in all money parameters of import and
export: export of cut diamonds (net) from Israel rose by 6% comparing to
parallel period in 2007, reaching US$ 3.8 billion (though carat value fell by
17%). Export of rough diamonds (net) from Israel also increased by 26% to US$
2.19 billion (2.5% fall in carat value).
Import of rough
diamonds (net) rose 15% in the first half of 2008 (from 2007) to US$ 2.77
billion (though carat value fell by 11%), while import of cut diamonds (net)
also increased in 2008 by 19.5% reaching US$ 2.35 billion (carat value rose by
2.3%).
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, although its portion has been
decreasing in view of the economic situation – the export rate is circa 41%,
comparing to 60%-65% in past years. The secondary markets are Hong Kong,
Switzerland, Belgium, U.K, and India.
SUMMARY
Notwithstanding
the refusal to disclose 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.46.71 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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%)