MIRA
INFORM REPORT
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Report Date : |
12.05.2011 |
IDENTIFICATION DETAILS
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Name : |
BETTONSHOP
ISRAEL LTD. |
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Formerly Known As : |
BETTONVILLE ISRAEL LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.04.1992. |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importers and marketers of equipment for
the diamond industry (polishing tangs, sawing machines, sawing blades,
grooving machines, etc.), as well as solutions for diamond boiling system no
foliation, accessories for the diamond industry and other solutions. |
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 : |
Unknown |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
Name and address
BETTONSHOP ISRAEL LTD.
Telephone 972
3 751 46 19
Fax 972
3 575 75 58
HISTORY & LEGAL FORMATION
A private limited company, incorporated as
per file No. 51-167612-4 on the 09.04.1992.
Originally established under the name DVASH
ZAHAV LTD., which changed to SHOR MECHANICAL EQUIPMENT (ISRAEL) LTD. on the
04.06.1992, which changed to BETTONVILLE ISRAEL LTD., on the 24.05.1994, which
changed to the present one on the 18.06.2008.
SHARE CAPITAL
Authorized share capital
19,800
ordinary shares of
SHAREHOLDERS
Subject is fully owned by Mrs. Ilanit
Mizrahi Zonenberg.
SOLE DIRECTOR & GENERAL
MANAGER
Mrs. Ilanit Mizrahi Zonenberg.
BUSINESS
Importers and marketers of equipment for the
diamond industry (polishing tangs, sawing machines, sawing blades, grooving
machines, etc.), as well as solutions for diamond boiling system no foliation,
accessories for the diamond industry & other solutions.
Sales are to diamond companies.
Operating from rented premises, on an area
of 75 sq. meters, in
Having 2 employees (including owner/General
Manager).
MEANS
Financial data not forthcoming.
There are 2 charges for unlimited amounts registered on the company's
assets (financial assets and fixed assets), in favor of Union Bank of Israel
Ltd. (last charge placed in May 2008).
ANNUAL SALES
Sales figures not forthcoming.
BANKERS
Union Bank of Israel Ltd., Ramat Gan Branch
(No. 062),
CHARACTER AND REPUTATION
Nothing unfavorable learned.
Subject's General Manager refused to
disclose financial data.
During 2010 and
2011 local diamond companies have been recovering from one of the worst
depressions in the global diamond sector due to the severe economic crisis in
global markets that erupted in September 2008. 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
According to the
President of the Israeli Diamonds Association, local diamond sector in general
managed to cross the crisis, 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
SUMMARY
Notwithstanding the refusal to disclose
financial 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.44.69 |
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1 |
Rs.73.12 |
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Euro |
1 |
Rs.64.39 |
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.