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Report No. : |
333864 |
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Report Date : |
01.08.2015 |
IDENTIFICATION DETAILS
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Name : |
CLEAR DIAMONDS
LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
06.07.2003 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Israel |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 2013, 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. Israel's economy
also has weathered the Arab Spring because strong trade ties outside the Middle
East have insulated the economy from spillover effects. Slowing demand
domestically and internationally and reduced investment due to uncertainties
caused by the Gaza conflict in summer 2014 have reduced GDP growth to about 2%
during 2014. 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 expected to come online no sooner than 2017, but
production from Tamar provided a one percentage point boost to Israel's GDP in
2013 and a 0.5% boost 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 and has started splitting up the oligopolies to address some of the
grievances but has maintained that it will not engage in deficit spending to
satisfy populist demands. 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 |
CLEAR DIAMONDS
Correct Name: CLEAR DIAMONDS LTD.
Email:
yaron.cleardiamonds@gmail.com
Registered
Address
23 Nofar Street, C/o Itzhak Elkayam
Yavne
8120723 Israel
A private limited company, incorporated as
per file No. 51-343017-3 on the 06.07.2003.
Originally established under the name
GAL-DAN EVENTS LTD., which changed to the present name on the 04.03.2013.
Authorized share capital NIS 40,000.00, divided
into -
40,000
ordinary shares of NIS 1.00 each,
of which 100 shares amounting to NIS 100.00
were issued.
Subject is fully owned by Itzhak Elkayam.
Itzhak Elkayam.
Line of business not forthcoming.
Subject's registered address in the
Registrar of Companies is 23 Nofar Street, C/o Itzhak Elkayam, Yavne.
Since we could not
contact subject or its officials, we could not verify the address you provided
(21 Tuval Street, Diamond Exchange, Yahalom Bldg. Suite 287).
Number of employees not forthcoming.
Financial data not forthcoming.
There are 2 charges for unlimited amounts registered on the company's
assets (all assets), in favor of Mizrahi Tefahot Bank Ltd. (charges placed
March 2013).
Sales figures not forthcoming.
According to our:
Mizrahi Tefahot Bank Ltd., Diamond Exchange
Business Branch (No. 466), Ramat Gan.
Since we could not speak to subject's
officials, we could not verify the a/m bank data.
Despite our efforts, we were unable to
contact subject nor speak with its officials.
There are no telephone numbers registered
under subject's name in the Telephone Directory.
In the Diamond Exchange Directory there is a
mobile phone affiliated to subject (+972 (0)54 3450013). We called and the
number belongs to a former employee of subject who gave us the mobile phone
number of Itzhak Elkayam (+972 (0)54 3453416). We called several times
receiving a voice mail box. We left a message, so far without response.
There is a telephone number registered in
the Telephone Directory under the name of Ms. Enat Elkayam in 23 Nofar Street,
Yavne (+972 (0)8 9426961), we called several times, receiving a a voice mail
box. We left a message, so far without response.
In the Diamond Exchange Directory there is
an email affiliated to subject (in caption). We sent an email, so far without
response.
We did not find anything detrimental on
subject or its owner.
Considering the inability to contact subject,
dealings are recommended on fully 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.64.00 |
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|
1 |
Rs.99.84 |
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Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
TPT |
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.