MIRA INFORM
REPORT
|
Report Date : |
08.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
ALON AVINOAM DIAMONDS LTD. |
|
|
|
|
Registered Office : |
P.O. Box 182, Ramat Gan (52101), 54 Betzalel Street, Diamond Exchange, Yahalom Bldg., Ramat Gan 52521 |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
24.02.1991 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Traders, Importers, Processors, Marketers and Exporters of diamonds of
all sorts |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment
Behaviour : |
No Complaints |
|
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
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ALON AVINOAM DIAM
Telephone 972 3 751 67 55
Fax 972 3 751 21 27
Diamond Exchange, Yahalom Bldg.
A private limited
company, incorporated as per file No. 51-154880-2 on the 24.02.1991.
Subject is
continuing family business activities which started some 40 years ago.
Authorized share
capital of
10,000 ordinary shares of
of which 100
shares amounting to
1. Avinoam Alon, 99%,
2. Ms. Lea Alon, 1%.
Avinoam Alon
Traders, importers,
processors, marketers and exporters of diamonds of all sorts.
Diamond size
varies between 0.10ct to 5.00ct+
Most sales are for export (was 90% in 2009).
Operating from
rented office premises, on an area of 40 sq. meters, in
Having 5 employees
(same as in 2009).
Financial data not
forthcoming.
There are 3 charges for unlimited amounts
registered on the company's assets, in favor of Union Bank of Israel Ltd.
Sales figures not
forthcoming.
B Jewellery Design., a company intended to sell jewelry directly to
clients.
DIAMLAND LTD.,
dealing in white and natural fancy color diamonds.
Union Bank of Israel Ltd., Ramat Gan Branch
(No. 062),
Nothing
unfavorable learned.
Subject’s General
Manager Avinoam Alon refused to disclose financial and financial-related
details.
Avinoam Alon &
family are veteran diamond dealers.
Subject, together
with 2 diamond dealers have initiated an enterprise to sell diamonds and
jewelry directly to the public, via B
Jewellery Design.
During 2010 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
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
Import of rough
diamonds (net) in 2010 grew by 51% to US$ 3,755 million (30% rise in karat
terms), compared with 2009, while import of polished diamonds (net) saw 68%
rise reaching US$ 4,218 million (39% rise in karat terms).
In terms of target
export (polished diamonds) countries, overall in 2010 the
In February 2009,
Notwithstanding the refusal to disclose
financial details, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
UK Pound |
1 |
Rs.84.32 |
|
Euro |
1 |
Rs.70.99 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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.