|
Report Date : |
15.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
HATEM KAMAL SALAME AL AI |
|
|
|
|
Registered Office : |
Al Zawyeh Market, Gaza Gaza Strip Palestinian Authority |
|
|
|
|
Country : |
Israel |
|
|
|
|
Year of Establishment : |
1987 |
|
|
|
|
Legal Form : |
Foreign Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacturers
and Marketers of Snacks (Waffles, Popcorn, Peanut Snacks). |
|
|
|
|
No. of Employees : |
50 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 : |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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. Cut diamonds, high-technology equipment, and pharmaceuticals
are among the leading exports. Its major imports include crude oil, grains, raw
materials, and military equipment. Israel usually posts sizable trade deficits,
which are covered by tourism and other service exports, as well as significant
foreign investment inflows. Between 2004 and 2011, growth averaged nearly 5%
per year, led by exports. 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. 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. The economy has recovered
better than most advanced, comparably sized economies, but slowing demand
domestically and internationally, and a strong shekel, have reduced forecasts
for the next decade to the 3% level. Natural gas fields discovered off Israel's
coast since 2009 have brightened Israel's energy security outlook. The Tamar
and Leviathan fields were some of the world's largest offshore natural gas
finds this past decade. The massive Leviathan field is not due to come online
until 2018, but production from Tamar provided a one percentage point boost to
Israel's GDP in 2013 and is expected to contribute 0.5% growth in 2014. In
mid-2011, public protests arose around income inequality and rising housing and
commodity prices. Israel's income inequality and poverty rates are among the
highest of OECD countries and there is a broad perception among the public that
a small number of "tycoons" have a cartel-like grip over the major
parts of the economy. 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. In May 2013 the Israeli government, in a politically
difficult process, passed an austerity budget to reign in the deficit and
restore confidence in the government's fiscal position. Over the long term,
Israel faces structural issues, including low labor participation rates for its
fastest growing social segments - the ultra-orthodox and Arab-Israeli
communities. Also, Israel's progressive, globally competitive, knowledge-based
technology sector employs only 9% of the workforce, with the rest employed in
manufacturing and services - sectors which face downward wage pressures from
global competition.
|
Source
: CIA |
HATEM KAMAL S AL
ALI
Correct Name: HATEM
KAMAL SALAME AL AI
(Also
known as AL QUDS SNACKS STORE)
Telephone 972 8 284 00 11
Mobile` 972 59 891 03 03
Fax 972 8 284 00 11
Al Zawyeh
Market
GAZA
GAZA STRIP PALESTINIAN AUTHORITY
A foreign sole
proprietorship, established in 1987 in the Palestinian Authority.
Operating under
Dealer License No. 926110727.
Hatem Kamal Salame
Al Ai.
Hatem Kamal Salame
Al Ai
Manufacturers and
Marketers of Snacks (Waffles, Popcorn, Peanut Snacks, etc.).
Using brand name
'Al Quds Snacks Store'
Operating from
rented premises (office, small plant and shop), on an area of 400 sq. meters in
Al Zawyeh Market, Gaza, and from an owned plant, on an area of 1,000 sq. meters
in Jabeliya, both in Gaza Strip, Palestinian Authority.
Having 50
employees.
Financial data not
forthcoming.
Sales data not
forthcoming.
Bank of Palestine,
Gaza Main Branch (Omar EI-Mukhtar St., P.O. Box 50), Gaza, Gaza Strip,
Palestinian Authority.
Nothing
unfavorable learned.
Subject's owner
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 several years ago years, following the rising of
the Hamas government in Gaza Strip in 2007, which led to internal conflict
between Hamas supporters and those of the Phatah movement, which controls the
West Bank. While the political situation has been stable in the West Bank,
leading to economic growth in recent years, the condition in the Gaza Strip
deteriorated drastically, as result of military clashes with Israel, and also
due to the blockage on goods movement in and out the Strip for long period. The
situation in Gaza Strip improved drastically in 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), and deteriorated again in late 2012 a result of another
military fight with Israel. Situation was quiet for a year and a half, but
during July-August 2014 the fighting with Israel resumed, causing destruction
to extensive parts in Gaza, practically paralyzing the Gaza economy during that
period, and it would now take years to recover.
Notwithstanding the refusal to disclose
financial details, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.11 |
|
|
1 |
Rs.98.15 |
|
Euro |
1 |
Rs.77.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
NIT |
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.