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Report Date : |
21.10.2014 |
IDENTIFICATION DETAILS
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Name : |
LANDAU SELECTED
DIAMONDS LTD. |
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Formerly Known As : |
LANDAU SELECTED DIM LTD |
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Registered Office : |
23 Tuval Street, Ramat Gan 5252238 |
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Country : |
Israel |
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Date of Incorporation : |
26.01.2012 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is engaged in wholesale
distribution of jewelry, precious stones and metals, costume jewelry, watches,
clocks and silverware. |
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No. of Employees : |
No Employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
ISRAEL - ECONOMIC OVERVIEW
Israel has a technologically advanced
market economy. Cut diamonds, high-technology equipment, and pharmaceuticals
are among the leading exports. Its major imports include crude oil, grains, raw
materials, and military equipment. Israel usually posts sizable trade deficits,
which are covered by tourism and other service exports, as well as significant
foreign investment inflows. Between 2004 and 2011, growth averaged nearly 5%
per year, led by exports. The global financial crisis of 2008-09 spurred a
brief recession in Israel, but the country entered the crisis with solid
fundamentals, following years of prudent fiscal policy and a resilient banking
sector. In 2010, Israel formally acceded to the OECD. Israel's economy also has
weathered the Arab Spring because strong trade ties outside the Middle East
have insulated the economy from spillover effects. The economy has recovered
better than most advanced, comparably sized economies, but slowing demand
domestically and internationally, and a strong shekel, have reduced forecasts
for the next decade to the 3% level. Natural gas fields discovered off Israel's
coast since 2009 have brightened Israel's energy security outlook. The Tamar
and Leviathan fields were some of the world's largest offshore natural gas
finds this past decade. The massive Leviathan field is not due to come online
until 2018, but production from Tamar provided a one percentage point boost to
Israel's GDP in 2013 and is expected to contribute 0.5% growth in 2014. In
mid-2011, public protests arose around income inequality and rising housing and
commodity prices. Israel's income inequality and poverty rates are among the
highest of OECD countries and there is a broad perception among the public that
a small number of "tycoons" have a cartel-like grip over the major
parts of the economy. The government formed committees to address some of the
grievances but has maintained that it will not engage in deficit spending to
satisfy populist demands. In May 2013 the Israeli government, in a politically
difficult process, passed an austerity budget to reign in the deficit and
restore confidence in the government's fiscal position. Over the long term,
Israel faces structural issues, including low labor participation rates for its
fastest growing social segments - the ultra-orthodox and Arab-Israeli
communities. Also, Israel's progressive, globally competitive, knowledge-based
technology sector employs only 9% of the workforce, with the rest employed in
manufacturing and services - sectors which face downward wage pressures from
global competition.
|
Source
: CIA |
LANDAU SELECTED DIAMONDS LTD.
Telephone
972 3 373 16 00
23 Tuval Street
Ramat Gan 5252238 Israel
A private limited company, incorporated as
per file No. 51-472812-0 on the 26.01.2012 under the name LANDAU SELECTED DIM
LTD., which changed to the present name on the 27.02.2012.
Authorized share capital NIS 25,200.00,
divided into -
25,200 ordinary shares of NIS 1.00 each, of
which 2,500 shares amounting to NIS 2,500.00 were issued.
1. Yosef
Ahron Elishav, 50%,
2. BEL
HAR INVESTMENTS LTD., 50%.
1. Yosef
Ahron Elishav,
2. Jonathan
Wolf Landau,
3. Hirsh
Cooper.
Subject’s officials refused to cooperate
with us, so we could not confirm the company's exact line of activity. We
assume it has been engaged in the diamond trade. In one directory, we found it
is engaged in wholesale distribution of jewelry, precious stones and metals,
costume jewelry, watches, clocks and silverware.
Please note that subject itself is not
listed in the Diamond Exchange Secretariat, and since there is another company
called LANDAU SELECTED GEM LTD. which may be operating from the same address,
we could not confirm that subject is actually presently active.
Registered address is 23 Tuval Street, Ramat
Gan - this address is in Noam Building, part of the Diamond Exchange complex.
We could not confirm that subject is actually operating from this address.
Number of employees, if any, not
forthcoming.
Financial data not forthcoming.
There are 3 charges for unlimited amounts registered on the company's
assets (all assets), in favor of Union Bank of Israel Ltd. and Mizrahi Tefahot Bank
Ltd. (charges placed February - April 2012).
Sales figures not forthcoming.
LANDAU SELECTED GEM LTD., incorporated in
2010, diamonds manufacturing and trading Company, based in Israel. Specializes
in high quality, 0.30 to 5 carat diamond GIA and rounds and fancy shapes.
Having same registered address as subject.
Jonathan Wolf Landau is the main shareholder
(over 90%) in J. LANDAU & CO. LTD., incorporated in 1987, traders,
processors, importers, exporters and marketers of rough and polished diamonds.
Also may be related: LANDAU CRYSTAL DIAMONDS
2002 LTD.
Union Bank of
Israel Ltd., Ramat Gan Branch (No. 062), Ramat Gan.
As noted, we could not verify certain basic data
on subject's operations and physical address, as we got no cooperation from the
officials, and could not find more information in the various local
directories.
There is no telephone numbers listed under
subject's name in the Telephone Directory.
We called the Diamond Exchange Secretariat,
who informed us that subject is not listed with them (and no phone numbers). It
should be noted that this is very rare that a company in the diamond field it
not listed at the Secretariat.
We called Yosef Elishav's registered mobile
phone (+972 54 429 99 19), receiving an 'unavailable' message.
We called BEL HAR INVESTMENTS (+972 2 566 36
04), and reached a voice mail. We left a message, so far without response.
We called J. LANDAU & CO. (+972 3 613 70
72), they refused to disclose data (or confirm subject's address).
We spoke to Mr. Jonathan Wolf Landau on his
mobile phone (+972 54 397 82 01). He told us he is very busy and has no time to
talk to us.
We did not find anything detrimental on
subject or its owners.
Considering the lack of updated data from
subject's officials, dealings are recommended on secured basis.
Note: Since February 2013 Israel Post has
started using a new area code method of 7 digits (the old method of 5 digits is
no longer valid).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.48 |
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|
1 |
Rs.98.24 |
|
Euro |
1 |
Rs.78.66 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.