MIRA
INFORM REPORT
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Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
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Name : |
AHMED DIAB SALEM LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
-- |
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Legal Form : |
A foreign private limited company |
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Line of Business : |
Importers, marketers and wholesalers of foodstuffs (mostly commodities), e.g. sugar, humus, legumes, coffee, tea, 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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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Correct Name &
address
AHMED DIYAB SALEM LTD.
Telephone 972 8 281 48 19
Fax 972 8 281 48 19
HISTORY
A foreign private limited company, registered in the Palestinian Authority as per file No. 56-313011-1, established several years ago.
Subject is continuing the activities of a business founded by subject owner's father tens of years ago.
SHARE CAPITAL
Data not forthcoming.
SHAREHOLDERS
Subject is fully owned by Ahmed Diyab Salem.
GENERAL MANAGER
Ahmed Diyab Salem.
BUSINESS
Importers, marketers and wholesalers of foodstuffs (mostly commodities), e.g. sugar, humus, legumes, coffee, tea, etc.
Sales are in the Palestinian Authority, mainly in the Gaza Strip.
Among Israeli suppliers: DIZENGOFF TRADNIG CO.
Operating from premises, including offices and warehouses,
owned by the shareholder, on an area of 1,800 sq. meters, in
Having 32 employees.
MEANS
Current stock is valued at
Property owned by the shareholder in
ANNUAL SALES
2004 sales claimed to be
2005 sales claimed to be
2006 sales claimed to be
BANKERS
Bank of
Arab Bank,
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 capita 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.
However, the World
Bank Report from 2006 states that year 2006 has been disastrous and one of the
worst years in their economic history, following the rising of the Hamas government.
It led to the suspension of donations and financial aid from the Western world,
as well as to internal conflict, including violence, between the Hamas
supporters and those of the Phatah movement.
The main damage has
been in the Gaza Strip.
According to experts
reports from December 2006, total GDP of the Palestinian Economy in 2006 was
US$ 3 billion, and deteriorated to lower than US$ 1,000 GDP per capita.
SUMMARY
Good for trade engagements.
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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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%)