MIRA INFORM REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MANASRAH AL-OULA FOR TRADE & INVESTMENT
CO. |
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Registered Office : |
Wadi El Tofah Street, Hebron West Bank Palestinian Authority |
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Country : |
Israel |
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Year of Establishment : |
2005 |
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Legal Form : |
Foreign Private Limited Company |
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Line of Business : |
Importers and marketers of
furniture, carpets, etc. |
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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Maximum Credit Limit : |
US$ 10,000. |
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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 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Israel |
A2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
name & address
MANASRAH AL-OULA FOR TRADE & INVESTMENT CO.
Telephone 972 2 222 12 38; 59
985 40 00
Fax 972 2 229 42 04
Wadi El Tofah Street
HEBRON WEST BANK PALESTINIAN
AUTHORITY
HISTORY & LEGAL FORMATION
A foreign private limited company, established
in 2005 and registered in the Palestinian Authority as per file No.
56-213584-8.
Note: Subject's
name could also be: MANASRAH AL-OULA FOR TRADE & INVESTMENT CO. LTD.
Furthermore,
"Manasrah" may be spelled "Manasarah" or other spelling.
SHARE CAPITAL
Data not forthcoming.
SHAREHOLDERS
1. Muhammad Mahmud Manasrah, 50%,
2. Omar Mahmud Manasrah, 50%.
GENERAL MANAGER
Omar Mahmud
Manasrah.
BUSINESS
Importers and
marketers of furniture, carpets, etc.
Sales are to retailers
and to private costumers.
Purchasing is from
import (not from Israel).
Operating from
premises (offices, and store), owned by the shareholders, on an area of 250 sq.
meters, in Wadi El Tofah Street, Hebron, and from main warehouse facility, owned
by shareholders, on an area of 3,000 sq. meters, in Ein Sara, Hebron, both in
West Bank, Palestinian Authority.
Having 7
employees.
MEANS
Current stock is
valued at NIS 1,000,000.
Other financial
data not forthcoming.
SALES
Sales figures not forthcoming.
BANKERS
Bank of Palestine
P.L.C, Hebron Branch (Al-Salam St., P.O. Box 471), Hebron, Palestinian
Authority.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject's General
Manager refused to disclose sales figures.
According to World
Bank and Palestinian Investment Promotion Agency, total GDP of the Palestinian
Economy in 2008 was US$ 4.6 billion, and GDP per capita is US$ 1,290 (was
US$1,272 in 2006). Generally, by 2006 the GDP per capita dropped by 40% since
1999, following unstable political situation, but has been recovering since
2009 as political climate has stabilized. These figures include the West Bank
and Gaza Strip, whose economy has been in different condition. GDP per capita
in the West bank has climbed to US$ 2,800 by 2009, while remains low in Gaza –
around US$ 1,000 per capita.
In terms of
foreign trade, a growth tendency is noticed: Total Import in 2007 summed up to
US$ 3,141 million (up from US$ 2,760 million in 2006), while Total Export
reached US$ 513 million (up from US$ 367 million in 2006). 80% of imported
goods to the Palestinian Territories are carried out via Israel.
Yet, other current
indicators are still alarming, mainly in the Gaza Strip, such as high
unemployment rates (18% in the West Bank, 35%-40% in Gaza) and poverty (70% in
Gaza).
The Palestinian
economy suffered a set back in recent years, following the rising of the Hamas
government in Gaza Strip in 2007, which led to internal conflict and clashes
between the Hamas supporters and those of the Phatah movement.
While the
political situation has been stable in the West Bank (controlled by Phatah)
leading to economic growth in recent years, the condition in the Gaza Strip deteriorated
drastically (including the blockage on goods movement in and out the Strip for
long period), mainly after the fighting of Hamas militias with Israeli Forces.
With the end of fighting in Gaza Strip in early 2009, the recovery efforts are
ongoing with donation received from overseas, as well as the partial lift of
goods blockage in 2010, resulting in some improvement in Gaza economy as well –
Gaza Strip economy grew by 16% in 2010 1st half (1% in 2009)
according to the International Monitory Fund (IMF), though situation is still
critical.
The Palestinian
economy in the West Bank grew in 2009 by 8.5% and by 9% in the first half of
2010. Palestinian economy grew as a whole by 9% in 2010, after 3% growth in
2008 and nearly zero in 2007. Much of the growth is attributed to the foreign
aid they receive (donation scheduled are up to US$ 7.7 billion in 3 years), and
the relative calm in the political environment, mainly in the West Bank. The
Palestinian Authority reports on growth in taxes collection (which has always
been a major problem due to the lack of enforcement capabilities), with
expected over US$ 2 billion in 2010 (was US$ 1.688 billion in 2009), while the
deficit (dropped from US$ 1.8 billion in 2008 to US$ 1.2 billion in 2010) to be
covered by the donating countries.
SUMMARY
Notwithstanding the refusal to disclose financial data, considered good
for trade engagement.
Maximum unsecured credit recommended US$ 10,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.46.13 |
|
UK Pound |
1 |
Rs.75.52 |
|
Euro |
1 |
Rs.66.53 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<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.