MIRA
INFORM REPORT
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Report Date : |
28.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SEGALDIAM LTD. |
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Registered Office : |
P.O. Box 88 54 Bezalel Street Diamond Exchange, Yahalom Bldg. Ramat Gan 52521 |
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Country : |
Israel |
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Date of Incorporation : |
06.03.1988. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers, traders, exporters and marketers of diamonds. |
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No. of Employees : |
9 |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Israel |
A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name and address
SEGALDIAM LTD.
Telephone 972 3 575 28 67
Fax 972 3 575 07 91
P.O. Box 88
54 Bezalel Street
Diamond Exchange, Yahalom Bldg.
RAMAT GAN-52521 ISRAEL
HISTORY & LEGAL FORMATION
A private limited company,
incorporated as per file No. 51-127935-8 on the 06.03.1988.
SHARE CAPITAL
Authorized share
capital NIS 10,000.00, divided into –
10,000 ordinary shares of NIS
1.00 each,
of which 150
shares amounting to NIS 150.00 were issued.
SHAREHOLDERS
1. Raju Shah,
61.33%,
2. Vipol Shah,
16.67%,
3. Sejal Shah,
16.67%,
4. Prashant
Parbhakran, 5.33%.
According to our,
in the course of the first half of 2008, Navimchand Shaha Paraj, who held some 10.7%
of subject, left subject and the shares were transferred to shareholder No. 1,
Raju Shah.
DIRECTORS
1. Raju Shah,
General Manager,
2. Vipol Shah,
3. Sejal Shah,
4. Prashant
Parbhakran.
BUSINESS
Importers,
traders, exporters and marketers of diamonds.
Some 70% of sales
are for export.
Operating from
owned premises, on an area of around 90 sq. meters, in 54 Bezalel Street (also
referred to as 21 Tuval Street), Diamond Exchange, Yahalom Bldg. (3rd floor,
Rooms 367-369), Ramat Gan.
Also operating
from branches in Mumbai, Bangkok and in China.
Having 9 employees
(had 8 employees in 2010).
MEANS
Financial data not
forthcoming.
There are 2 charges for unlimited amounts registered
on the company's assets, in favor of Mizrahi Tefahot Bank Ltd. and The State
Bank of India.
REVENUES
2009 sales claimed
to be between US$ 25 – 30,000,000.
2009 sales were
relatively low due to the significant slow-down in the global markets and
diamond sector in particular.
2010 sales claimed
to be US$ 60,000,000.
2011 sales claimed
to be over US$ 90,000,000.
BANKERS
Mizrahi Tefahot Bank Ltd., Diamond Exchange
Business Center Branch
(No. 466), Ramat Gan.
The State Bank of
India (SBI), Main Branch (No. 001), Ramat Gan.
CHARACTER AND REPUTATION
Nothing
unfavorable learnt.
Subject is known
in the local diamond branch and their reputation is well.
According to the President
of the Israeli Diamonds Association, local diamond sector in general managed to
cross the global economic crisis that erupted in September 2008, one of worst
depressions in the global diamond sector, despite the sheer difficulties,
including the fact that local banks contracted credit given to local diamond
firms. The President said that trade in the sector rolls annual turnover of US$
25 billion while total debt to the banks stands on US$ 1.5 billion, down from
US$ 2.4 billion in the eve of the crisis. The Ministry for Industry & Trade
also assisted the local diamond exporters by providing bank guarantees in total
scope of NIS 1 billion.
The diamond sector
experienced almost an entire freeze and collapse in sales of about 70% in the
peak of the crisis and 2009 export diamonds shrank by some 40%. Only since mid
Overall in 2010,
export (net) of polished diamonds was US$ 5,832 million, representing 48%
increase from 2009 (when it noted 37% decrease from 2008, also much less than
In the first 9
months of 2011, 37.1% increase was noted comparing to the parallel period in
2010 with net export of polished diamonds of US$5.830 million. Export of
rough diamonds also climbed almost 32%, reaching US$ 2,980 million.
Import of rough
diamonds (net) in 2010 grew by 51% to US$ 3,755 million (30% rise in karat
terms) compared with 2009, and by 35% in the first 9 months of 2011 (compared
to 2010) summing up to US$3,520 million. Import of polished diamonds (net) saw
68% rise in 2010 reaching US$ 4,218 million (39% rise in karat terms), and
almost 49% rise in 2011 first 9 months
(US$ 4,170 million).
In terms of target
export (polished diamonds) countries, overall in 2010 the USA returned to be
main destination, with 41% of total export (37% in 2011). This comes after
earlier in 2010, for the first time Far East markets became Israel’s diamond
industry’s main target, with sales to Hong Kong being close to these of the USA,
to whom sales decreased dramatically in view of the severe economic crisis
(traditionally sales to the USA comprised some 60%-65% of total export). In
2011, export to Hong Kong comprised around 29% of sales. Other main target
countries include Belgium, Switzerland, India, Thailand and China.
In February 2009,
Israel was ranked as the world’s largest exporter of cut diamonds, followed by
India, Belgium and South Africa.
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.52.89 |
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1 |
Rs.82.71 |
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Euro |
1 |
Rs.69.15 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.