|
Report Date : |
04.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ISSAM MOHAMMED HERBAWI |
|
|
|
|
Registered Office : |
P.O. Box 154, Nimra Street, Hebron West Bank Palestinian Authority |
|
|
|
|
Country : |
Israel |
|
|
|
|
Year of Establishments: |
1993 |
|
|
|
|
Legal Form : |
Foreign Sole Proprietorship |
|
|
|
|
Line of Business : |
Importers and marketers
of fabrics |
|
|
|
|
No. of Employees : |
03 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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) |
|
Israel |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
israEl ECONOMIC OVERVIEW
Israel has a technologically advanced market economy. Its major imports
include crude oil, grains, raw materials, and military equipment. Cut diamonds,
high-technology equipment, and pharmaceuticals are among the leading exports.
Israel usually posts sizable trade deficits, which are covered by tourism and
other service exports, as well as significant foreign investment inflows. The
global financial crisis of 2008-09 spurred a brief recession in Israel, but the
country entered the crisis with solid fundamentals - following years of prudent
fiscal policy and a resilient banking sector. The economy has recovered better
than most advanced, comparably sized economies. In 2010, Israel formally
acceded to the OECD. Israel's economy also has weathered the Arab Spring
because strong trade ties outside the Middle East have insulated the economy
from spillover effects. Natural gasfields discovered off Israel's coast during
the past two years have brightened Israel''s energy security outlook. The
Leviathan field was one of the world''s largest offshore natural gas finds this
past decade, and production from the Tama field is expected to meet all of
Israel''s natural gas demand beginning mid-2013. In mid-2011, public protests
arose around income inequality and rising housing and commodity prices. The
government formed committees to address some of the grievances but has
maintained that it will not engage in deficit spending to satisfy populist demands.
|
Source : CIA |
ISSAM MOHAMMED HERBAWI
Telephone 972
2 221 53 94
Fax 972
2 221 53 94
P.O. Box 154
Nimra Street
HEBRON WEST BANK PALESTINIAN
AUTHORITY
A foreign sole proprietorship, established
in 1993 in the Palestinian Authority.
Operating under Dealer License No. 94321803.
Issam Mohammed Hirbawi.
Issam Mohammed
Hirbawi.
Importers and
marketers of fabrics.
Operating from
owned premises (office and warehouse), on an area of 500 sq. meters in Nimra
Street, Hebron, West Bank, Palestinian Authority.
Having 3
employees.
Financial data not
forthcoming.
Sales data not
forthcoming.
Arab Bank Plc,
Hebron Branch (Al-Salam St., P.O. Box 601), Hebron, West Bank, Palestinian
Authority.
Nothing
unfavorable learned.
Subject's
owner/General Manager refused to disclose financial data..
The Palestinian Authority
has been 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.61.93 |
|
UK Pound |
1 |
Rs.100.44 |
|
Euro |
1 |
Rs.84.24 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
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 |
|
-- |
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.