MIRA
INFORM REPORT
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Report Date : |
15th
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
PALESTINE NOBEL CO. |
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Registered Office : |
Al Wahada Street, El-Remal,
Gaza Palestinian Authority |
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Country : |
Israel |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
56-346645-7 |
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Legal Form : |
Private
Limited Company |
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Line of Business : |
Importers,
wholesalers and marketers of women and men apparel. |
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
US$
30,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Company
Name & Address
PALESTINE NOBEL CO.
Telephone 972 8 283 75 73
Fax 972 8 283 75 83
Al Wahada Street
El-Remal
GAZA PALESTINIAN AUTHORITY
HISTORY
A foreign private limited
company, registered in the Palestinian Authority as per file No. 56-346645-7 in
2000.
SHARE CAPITAL
Data
not forthcoming.
SHAREHOLDERS
Subject is fully owned by Said
Mahmud El'ashi.
DIRECTOR & GENERAL MANAGER
Said Mahmud El'ashi.
BUSINESS
Importers, wholesalers and
marketers of women and men apparel. This line comprises 90% of subject's
activities.
Also importers and marketers of
various goods according to demand.
Purchasing is from abroad, namely
China, India, etc.
All sales are to the Palestinian
Territories.
Operating from premises, owned by
the shareholders, an area of 100 sq. meters, in Al Wahada Street, El-Remal
Neighborhood, Gaza, Palestinian Authority.
Having 4 employees.
MEANS
Holding no stocks, work is based
on orders.
Other financial data not
forthcoming.
ANNUAL SALES
2005 sales claimed to be NIS
5,000,000.
2006 sales claimed to be NIS
5,000,000.
BANKERS
Bank of Palestine Ltd., El Remal Branch,
Gaza, Palestinian Authority.
CHARACTER AND REPUTATION
Nothing unfavorable learned.
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 Gaza, including the
business affairs.
SUMMARY
Maximum unsecured credit
recommended US$ 30,000.
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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