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Report Date : |
16.08.2013 |
IDENTIFICATION DETAILS
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Name : |
ALATRASH CO. FOR MARBLE AND STONES LTD. |
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Registered Office : |
Industrial Zone Hebron West Bank Palestinian Authority |
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Country : |
Palestine |
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Year of Incorporation : |
2003 |
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Legal Form : |
Foreign Private Limited Company |
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Line of Business : |
Importers, processors and marketers of marble, stone, tiles, etc. |
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No. of Employees : |
30 |
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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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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Palestine |
D |
D |
|
Risk Category |
ECGC
Classification |
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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 |
ALATRASH CO. FOR
MARBLE AND STONES LTD.
Telephone 972 2 223 42 60
Fax 972 2 223 42 01
Email: info@atrashstone.com
Industrial Zone
HEBRON WEST
BANK PALESTINIAN AUTHORITY
A foreign private limited company,
established in 2003 and registered in the Palestinian Authority as per file No.
56-249100-1, continuing activities which began in 2001.
Data not forthcoming.
Subject is fully
owned by Rawakhi Alatrash
1. Rawakhi Alatrash,
2. Muhammad Alatrash (son of Rawakhi Alatrash)
Importers,
processors and marketers of marble, stone, tiles, etc.
All purchase is
import.
Sales are in the
Palestinian Authority as well as in Israel.
Operating from
premises owned by shareholders, on an area of 4,000 sq. meters, in Industrial Zone,
Hebron, West Bank, Palestinian Authority.
Having 30
employees.
Financial data not
forthcoming.
Sales data not
forthcoming.
Jordan Ahli Bank,
Hebron Branch (AL-Salam St., P.O. Box 718), Hebron, West Bank, Palestinian Authority.
Nothing
unfavorable learned.
Subject's General
Manager refused to disclose financial data.
The Palestinian
Authority is presently in a state of crisis, with a dire shortage in cash, in fact
on the verge of bankruptcy, where the authorities are unable to pay salaries,
delay in payment of US$ 500,000 to the private and public sectors, and fear it
will be unable to redeem loans in volume of US$ 1.2 billion. With a trade
deficit of US$ 4 billion (50% of GDP), the Palestinian economy, which grew by
an average of 9% in the years 2008-2010 (was nearly zero in 2007), show clear
signs of slow-down in the macro aspect, with 5.8% growth in 2011 in the West
Bank (figures for 2012 are ambiguous).
Much of the growth was attributed to the foreign aid received, though
over the last period there have been delays in the transfer of the promised
donation - in 2011 & 2012 it received outside support of US$ 1.5 billion
& US$ 1.78 billion, respectively, though much less than expected.
It should be noted
that according to reports, on the private business level, the crisis is less
felt at this stage in the Palestinian city's streets, though if the
governmental/public sector collapses – as such warnings exists – that may drag
the banking and financial sector down and eventually reach the private sector.
Other current
indicators are still alarming, mainly in the Gaza Strip, such as high
unemployment rates (19% in the West Bank in 2012, over 30% in Gaza), and poverty
(70% in Gaza).
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, Total Import in 2007 summed up to US$ 3,141 million, while Total
Export reached US$ 513 million. 80% of imported goods to the Palestinian
Territories are carried out via Israel.
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, also due to the blockage on goods movement in and out
the Strip for long period. The situation in Gaza Strip improved drastically
since 2010, with overseas donation and the partial lifting of goods blockage –
Gaza Strip economy grew by 26% in the first 3Q of 2011 (16.5% in 2010, 1% in
2009) according to the International Monitory Fund (IMF), though situation is
still critical. Yet, deterioration occurred due to the military fight with
Israel in late 2012.
Notwithstanding the refusal to disclose
financial details, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.51 |
|
|
1 |
Rs.94.98 |
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Euro |
1 |
Rs.81.62 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
NB |
New Business |
-- |
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.