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Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
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Name : |
SHARIKAT AL WALD AL TIJARIAH |
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Registered Office : |
P.O. Box 36 Abu Baker Street Jenin West Bank Palestinian Authority |
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Country : |
Palestine |
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Date of Incorporation : |
2008 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Traders, importers and marketers of pulses, rice, coffee, tea |
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No. of Employees : |
06 |
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.
SHARIKAT AL WALD AL
TIJARIAH (COMPANY NAME )
(This is the English spelling of subject's Arabic name, whereas the common Latin name is as below)
AL-WALD TRADING CO. LTD.
(Also trading as AL-WALAD TRADING CO.)
Telephone 972 4 250 30 20
Fax 972 4 250 23 28
P.O. Box 36
Abu Baker Street
Jenin West Bank Palestinian Authority
A foreign private limited company, established in 2008 and registered in the Palestinian Authority as per file No. 56-212432-1.
Data not forthcoming.
Subject is fully owned by Ahmad Ner'ad.
Ahmad Ner'ad.
Traders, importers and marketers of pulses, rice, coffee, tea, etc.
Operating from rented premises in Abu Bakker Street, Jenin, West Bank, Palestinian Authority.
Having 6 employees.
Financial data not forthcoming.
Sales data not forthcoming.
Arab Bank Plc, Jenin Branch (Abu Baker Street), Jenin, Palestinian Authority.
Nothing unfavorable learned.
Subject's General Manager refused to disclose financial data.
During 2012, into 2013, the Palestinian Authority entered a serious credit crisis, with a dire shortage in cash, in fact on the verge of bankruptcy, where in periods 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 to local banks in volume of US$ 1.2 billion. In the first half of 2013 the Authority accumulated a debt of US$ 4.3 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. These figures include the West Bank and Gaza Strip, whose economy has been in different condition. GDP per capita in the West bank was US$ 1,900 in 2012 (was higher in 2010/11), while remains low in Gaza – around US$ 1,100 per capita in 2012.
In terms of foreign trade, Total Import in 2007 summed up to US$ 3,141 million (grew to US$ 4,800 million in 2013), 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.
Considering the refusal to disclose financial data, dealings are recommended on secured basis.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.28 |
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1 |
Rs.103.84 |
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Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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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 |
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<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.