|
Report Date : |
05.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
ISLAM HASHEM
MOHAMMED |
|
|
|
|
Registered Office : |
Bir Haram Rameh Street, Hebron West Bank Palestinian
Authority |
|
|
|
|
Country : |
Israel |
|
|
|
|
Date of Incorporation : |
1980 |
|
|
|
|
Legal Form : |
Foreign Sole Proprietorship |
|
|
|
|
Line of Business : |
Importers and marketers of fabrics. |
|
|
|
|
No. of Employees : |
5 employees |
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 : |
Moderate |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
ISLAM HASHEM
MOHAMMED
Telephone 972
2 222 05 03
Fax 972
2 222 05 03
Bir Haram Rameh Street
Hebron West
Bank Palestinian Authority
A Foreign Sole Proprietorship, established in 1980 in the Palestinian
Authority.
Operating under Dealer License No. 944860311.
Islam Hashem Mohammed.
Islam Hashem Mohammed.
Importers and marketers of fabrics.
Operating from rented premises (office and warehouse), on an area of 400
sq. meters, in Bir Haram Rameh Street, Hebron, West Bank, Palestinian
Authority.
Having 5 employees.
Financial data not forthcoming.
Sales data not forthcoming.
Bank of Palestine Plc., Hebron Branch (Al-Salam St., P.O. Box 471),
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.61.40 |
|
|
1 |
Rs.99.28 |
|
Euro |
1 |
Rs.83.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.