MIRA INFORM REPORT
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Report Date : |
18.11.2011 |
IDENTIFICATION DETAILS
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Name : |
MUSTAFA ABD AL-AZIZ |
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Registered Office : |
Omar Al Mukhtar Street, City Center, Gaza Gaza Strip,
Palestinian Authority |
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Country : |
Israel |
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Year of Establishment : |
1994 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importers and marketers of school supplies,
including notebooks, stationary, 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$ 30,000. |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Israel |
a2 |
a2 |
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Risk Category |
ECGC
Classification |
|
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 |
Company name & address
MUSTAFA ABD AL-AZIZ
Telephone 972 8 282 12 81
Mobile 972 59 946 60 00
Fax 972 8 284 24 50
Omar Al Mukhtar Street
City Center
GAZA GAZA
STRIP PALESTINIAN
AUTHORITY
HISTORY & LEGAL FORMATION
A Palestinian sole
proprietorship business established in 1994.
Operating under
License Dealer No. 946164134.
Subject is
operating in the framework of the Abd Al-Aziz family venture, which includes a
family company A.B.C LTD. (incorporated in 1996 in Ramallah, Palestinian
Authority) and another sole proprietorship owned by Mahmoud Abd Al-Aziz (see
more below).
OWNERSHIP
Mustafa
Abd Al-Aziz.
GENERAL MANAGER
Mustafa Abd
Al-Aziz.
BUSINESS
Importers and
marketers of school supplies, including notebooks, stationary, etc.
Also importers,
marketers of household goods.
Subject and
affiliates A.B.C and MAHMOUD ABD AL-AZIZ – all work in tandem.
Sales are to the
clients in the Gaza Strip.
Imports are from
China, India, Turkey, France, etc.
Customs agents:
ADIV INTL. FORWARDING AGENCIES (of Israel).
Subject and
affiliates are operating from premises (offices, warehouse), owned by the
Al-Aziz family, on an area of 200 sq. meters, in Omar Al Mukhtar Street, City
Center, Gaza, Gaza Strip, Palestinian Authority.
Having 8 employees
serving the Group.
MEANS
Financial data not
forthcoming.
SALES
Sales figures not
forthcoming.
OTHER COMPANIES
A.B.C LTD.,
incorporated in 1996, owned by Abd Al-Aziz family,
MAHMOUD ABD
AL-AZIZ, established 2000, a sole proprietorship owned by Mahmoud Abd Al-Aziz.
Both a/m
businesses operate in the same line as subject, from same premises.
BANKERS
Bank of Palestine
Ltd., Gaza Main Branch (Omar Al Mukhtar St.), Gaza, Palestinian Authority.
CHARACTER AND REPUTATION
Nothing
unfavorable learned.
Subject's
officials refused to disclose financial data.
As noted above,
subject is part of the Abd Al-Aziz family venture (father Awad, and his 3 sons
Mustafa, Mahmoud and Ahmed). We were informed that the reason for the
separation is due to the complicated political situation in the Palestinian
territories (i.e. the separation between the regime in the West Bank and Gaza
Strip) and consequent administrative problems that arouse.
Mr. Mahmoud Abd Al
Aziz explained to us that prior to the current political situation, i.e.
several years ago, A.B.C used to import in large stocks and had exclusive
concession for certain brands from their foreign suppliers. However that as
well was changed and the concession lost.
A.B.C has been
registered in Ramallah, in the West Bank, where the central Palestinian Tax
Authorities have been operating, in charge both on the West Bank and Gaza Strip
(which are physically separated).
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$1,272 in
2006). These figures include the West Bank and Gaza Strip, whose economy has
been in different condition. GDP per capita (or average annual income per
capita) in the West bank has climbed to US$ 2,800 by 2009 and around US$ 3,000
in 2010/11, 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 (24% in the West Bank, 36% in Gaza, as of 2011 1st
Quarter) 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 lifting of goods blockage in 2010, resulting in some improvement in
Gaza economy as well – Gaza Strip economy grew by 16% in 2010 (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 9.4% in 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
(although as of mid 2011 only less than half of the US$ 1 billion donation
scheduled was received), 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 engagements.
Maximum unsecured
credit recommended US$ 30,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.50.72 |
|
UK Pound |
1 |
Rs.79.88 |
|
Euro |
1 |
Rs.68.64 |
RATING EXPLANATIONS
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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.