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Report No. : |
326054 |
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Report Date : |
12.06.2015 |
IDENTIFICATION DETAILS
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Name : |
TALY DIAMONDS LTD. |
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Registered Office : |
7 Harakun Street, Ramat Gan 5252184 |
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Country : |
Israel |
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Date of Incorporation : |
01.02.2001 |
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Legal Form : |
Private Limited Company |
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LINE OF BUSINESS : |
DEALERS, IMPORTERS, PROCESSORS, EXPORTERS AND MARKETERS OF DIAMONDS. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Law Violating Company |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
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, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Israel |
B1 |
B1 |
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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 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.
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Source
: CIA |
TALY DIAMONDS LTD.
Telephone
972 54 314 00 70 (cellular no. of Tali Mizrahi)
Registered Address
7 Harakun Street
RAMAT
GAN 5252184 ISRAEL
A private limited company, incorporated as
per file No. 51-307507-7 on the 01.02.2001.
Ms. Taly Mizrahi, subject's shareholder and
director, informs us that subject is inactive (has been inactive for
several years, 5-6 years), after encountering financial difficulties.
Note: According to the Registrar of Companies, subject's
legal status is registered as "Active" (which not necessarily
reflects the actual status, as in this case).
Authorized share capital NIS 50,000.00,
divided into: -
49,000 ordinary shares (200 shares issued),
1,000 management shares (20 shares issued), all of NIS 1.00 each, of which
shares amounting to NIS 220.00 were issued.
1. Ms. Taly Mizrahi, holds 45% of ordinary shares
and 100% of management shares issued,
2. Itzhak
Zehavi, holds 55% of ordinary shares issued.
Ms. Taly Mizrahi.
Inactive.
Were dealers, importers, processors,
exporters and marketers of diamonds.
Registered address in the Registrar of
Companies is 7 Harakun Street, Ramat Gan. According to the Diamond Exchange
directory, operated from 54 Bezalel Street (also referred to as 21 Tuval
Street), Diamond Exchange, Yahalom Bldg., Ramat Gan (we could not confirm the
room #364 which you gave).
There are no charges registered on the company's assets.
As noted above,
subject ceased business activities about 5 – 6 years ago, after encountering
financial troubles. Subject's shareholder and director, Ms. Tali Mizrahi, with
whom we spoke on her cellular no. (as in caption), refused to elaborate
further.
Subject's office
telephone number (+972) 3-6131146 (also the number you gave) rings, but there
is no reply (no voicemail response).
Subject's fax number
(+972) 3-5754905 appears to be working (as a fax).
We found a report
from December 2014 on a lawsuit filed by Ms. Hagit Leviev-Sofiev (daughter of
the Israeli and international diamond tycoon Lev Leviev) in Delaware court
(USA) against her 50% partners in TALY DIAMONDS LLC in New York, USA
(apparently an affiliate of subject), which is in liquidation process, claiming
the partners are hindering the dismantling of TALY DIAMONDS LLC in New York,
trying to take over the liquidation process so they can embezzle the company's
diamond inventory that was left, by selling it in law prices to 3rd
party in which they have interests. The plaintiff also claims of other
wrongdoings by the defendants in the said company.
From our findings,
we learn on couple other lawsuits against subject itself and its shareholders
Ms. Taly Mizrahi and Itzhak Zehavi, as well as against Mr. Moshe Mizrahi. The
claims are from 2006. One of the lawsuits is against Itzhak Zehavi for NIS
139,319 and concerns a debt. From the lawsuit, we learn that subject was buying
diamonds from Russia, which were sent for polishing in Romania. We did not find
the current status of the claims and other details.
We did not find bankruptcy files related to
subject.
According to the
Registrar of Companies subject has a "Law Violating Company" Status.
As part of the
Registrar efforts in the last period to collect fees and supervision on meeting
all duties by Companies’ law, such status notes have been added to the
registry.
Registration as a
"Law Violating Company" is done due certain violation by the subject
company for not meeting the Registrar of Companies regulations promptly, mainly for not
paying Registrar fees (subject currently has a debt of NIS 12,016.00 to the
Registrar), and/or not submitting annual reports promptly. The sanctions
and penalties against the company in such case include fines up to NIS 250,000,
not allowing the company to register new charges on its favor, not allow
registration a charge on its assets (which may deprive the company from taking
new loans at their banks), cannot make changes in the Registrar, and more.
It should be noted
that this may not necessarily be connected to the company's business activities
and financial standing, although it is likely the reason in subject's case.
No Dealings.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.89 |
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|
1 |
Rs.98.90 |
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Euro |
1 |
Rs.72.31 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared by
: |
NIT |
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.