MIRA
INFORM REPORT
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Report Date : |
5th
February, 2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
MUHAMED FARES AL SHAMMAS |
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Registered Office : |
P.O. Box 195, Al Manara Road,
Hebron Palestinian Authority |
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Country : |
Israel
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Date of Incorporation : |
1978 |
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Legal Form : |
Proprietorship
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Line of Business : |
Importers and marketers of foodstuffs, e.g. spices,
sesame seeds, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable
to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$
6,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
Company Name & Address
MUHAMED
FARES AL SHAMMAS
Telephone 972
2 225 33 72
Cellular 972 59 925 33 72
Fax 972 2 229 05 81
P.O. Box 195
Al Manara Road
HEBRON PALESTINIAN AUTHORITY
HISTORY
A sole proprietorship established
in the West Bank, Palestinian Territories in 1978.
Subject operates as License
Dealer No. 985555135.
OWNER AND
GENERAL MANAGER
Muhamed
Fares Al Shammas.
BUSINESS
Importers
and marketers of foodstuffs, e.g. spices, sesame seeds, etc.
Most
sales are to the Palestinian
Territories market.
Purchasing
is from import, and also buying in Israel.
Among
Israeli suppliers: YOSSEF LEVI.
Operating from premises, owned by Mr. Al
Shammas, on an area
of 100 sq. meters, in Al Manara Road, Hebron, Palestinian Authority.
Having 3 employees (the owner and
his 2 sons).
MEANS
Current
stock is valued at NIS 200,000.
Other
financial data not forthcoming.
ANNUAL
SALES
2005
sales claimed to be NIS 1,000,000.
2006
sales claimed to be NIS 1,000,000.
BANKERS
Bank of Palestinian Ltd., Hebron Branch,
Palestinian Authority.
Cairo-Amman Bank, Hebron Branch, Palestinian
Authority.
CHARACTER AND REPUTATION
Nothing unfavorable learnt.
This is a long established
business.
During
2004, the Palestinian economy started to recover for the first time since the
deterioration in the political situation in the region in October 2000.
According
to researches, GDP per person in the Palestinian authority in 2004 summed at
US$ 1,200, which is still lower than the GDP in 1999, which reached US$ 1,500.
GDP of the Palestinian Authority in 2004 was US$ 4.5 billion, 10% increase from
2003. Other positive figures were 27% increase in exports and 23% increase
in imports.
Average
annual income per person was US$ 1,467 in 2003, and the World Bank estimate it
will be between US$ 1,221 and 1,758 in 2006.
It
should be noted that the political situation in the Gaza Strip has been
deteriorating in recent weeks, due to internal fights between the Hamas
government and the Phatah movement supporters. We assume that this situation
affects certain parts of the areas and population in the Gaza Strip, including
the business affairs.
SUMMARY
Good for trade engagements.
Maximum unsecured credit
recommended US$ 6,000.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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