MIRA INFORM
REPORT
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Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ZABAN BECHOR JEWELERY LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
20.08.1995 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturers, Importers, Exporters and Marketers of fancy jewelry made of
gold, and gold combined with precious stones, diamonds, etc. |
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$ 400,000 |
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Status : |
Satisfactory |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 & address
ZABAN BECHOR JEWELERY LTD.
Telephone 972
3 516 99 91
Fax 972 3 516 99 93
TEL AVIV 65813-ISRAEL
HISTORY & LEGAL FORMATION
A private limited company, incorporated as per file No. 51-219285-7 on the
20.08.1995.
SHARE
CAPITAL
Authorized share capital
3,000 ordinary
shares of
of which 1,000 shares amounting to
SHAREHOLDERS
Subject is fully owned by Bechor Shushan Zaban.
SOLE
DIRECTOR & GENERAL MANAGER
Bechor Shushan Zaban, born 1953.
BUSINESS
Manufacturers, importers, exporters and marketers of fancy jewelry made of
gold, and gold combined with precious stones, diamonds, etc.
Also operating a retail chain jewelry store, traded under the style
"B. Zaban". The chain includes 4 stores, located mainly in shopping
malls and centers.
In addition to subject's jewelry stores, products are also sold to jewelry
shops countrywide, as well as via sister company, throughout 34 point of sales,
situated within the department store chain of the NEW HAMASHBIR LAZARCHAN.
17% of sales are for export.
Sole local representative of: Invicta,
of
Advertizing agency: G GROUP.
Operating from main premises (offices, retail store), owned by the
shareholders, on an area of 270 sq. meters, in 26 Rambam Street (corner of
Having 35 employees in subject (had 38 employees at the end of 2009), and
120 employees serving the ZABAN Group (had 158 employees in Group in the end of
2009).
MEANS
In March 2008, it was reported that subject invested some US$
In August 2010 it was reported that Group is intending to invest
Other financial data not forthcoming.
There are 7 charges for unlimited amounts registered on the company's
assets (financial and fixed assets), in favor of Mizrahi Tefahot Bank Ltd., Bank Leumi
Le'Israel Ltd. and Bank of Jerusalem Ltd.
ANNUAL
SALES
·
2007 sales
claimed to be
·
2008 sales
claimed to be
·
2009 sales
claimed to be
·
2010 sales
claimed to be
OTHER
COMPANIES
Also owned by Bechor Shushan Zaban:
KORAL MILLENIUIM LTD., operating 34 points of sales for jewelry and watches
within the stores of the NEW HAMASHBIR LAZARCHAN, under the style "Coral
Jewelry".
Bechor Shushan Zaban is also involved in real estate, among others via:
MIKADO SHILUV PROMOTION AND BUILDING LTD.,
RAMOT MIKADO CENTER LTD., both partly owned by Bechor Shushan Zaban.
BANKERS
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Mizrahi
Tefahot Bank Ltd., Terafon Branch (No. 430), Bnei Brak.
·
Bank of Jerusalem
Ltd., Bnei Brak Branch (No. 055), Bnei Brak.
CHARACTER
AND REPUTATION
Nothing unfavorable learned.
Mr. Bechor Zaban is a well-known figure in the local jewelry industry and
trade.
Prior to establishing subject, Bechor Shushan Zaban held some 50% in the
leading jewelry company PAZ CHEN, then a public limited company whose shares
traded on the Tel Aviv Stock Exchange. During the 1990’s he sold most of his
shares in this company and in 1997, he sold his remaining 6% in this company,
for a sum of
In July 1998, it was reported that a group of investors, including Bechor
Zaban, acquired a plot on an area of 4,000 sq. meters in North Tel Aviv, for a
sum of US$ 5.72 million. The group is currently erecting a 5,000 sq. meter
commercial center on the plot.
In August 2007 it was reported that subject became sole representative of Invicta watches from
In August 2010 it was reported that Group is launching an advertizing
campaign with an investment of
In November 2010 it was reported that Group is opening a store in Arena
Mall in Herzliya with an investment of
According to the Israeli Export Institute,
export of the jewelry branch in 2008 reached US$ 335 million, down from US$ 410
and US$ 390 million in 2007 and 2006 respectively. The division in export was
62.7% for gold and bronze jewelry, 16.3% fashion jewelries and 21% of silver
jewelries. In addition, Israeli manufacturers exported US$ 22.56 million of
gold and silver crafting items
After the decrease in export in 2008, the
branch activities in 2009 have been adversely influenced by deep crisis in
world markets. During the first 9 months of 2009 sales for export fell
drastically to US$ 175 million (mainly fell in the gold jewelry segment by over
70%, while silver jewelry rose in the period by 78%). An improvement was noted
in the 4th quarter of 2009 and into 2010 as markets have been
showing recovery signs.
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
SUMMARY
Good for trade engagements.
Maximum unsecured credit recommended US$ 400,000.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.37 |
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1 |
Rs.70.38 |
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Euro |
1 |
Rs.58.93 |
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.