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Report Date : |
21.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DAWOUD MUNIB AMAD |
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|
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Registered Office : |
P.O. Box 579, Al Anbiya Street, Nablus West Bank Palestinian Authority |
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Country : |
Israel |
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Date of Incorporation : |
1940 |
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Importers and
marketers of coffee, spices, beans, nuts and dried fruits. |
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No of Employees : |
20 |
RATING & COMMENTS
|
MIRAs Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 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 |
MUNIB D AMAD
Correct Name: DAWOUD MUNIB AMAD
Telephone 972 9 237 30 03 /5
Fax 972 2 654 43 35
Email: munib.amad@gmail.com
P.O. Box 579
Al Anbiya Street
Nablus West Bank Palestinian Authority
A foreign sole proprietorship,
established in 1940 in the Palestinian Authority.
Operating under
Dealer License No. 972261713.
Dawoud Munib Amad.
Munib Amad, son of
Dawoud Munib Amad.
Importers and
marketers of coffee, spices, beans, nuts and dried fruits.
Sales are to all
sort of customers spectrum.
Purchasing is 90%
from import and the rest is mainly from Israeli suppliers.
Among Israeli
suppliers: HAMAMA BROS., SONS OF GEORGE SHUKHA.
Operating from rented
offices premises, on an area of 400 sq. meters, in Al Anbiya Street, and from
owned warehouses, on an area of 4,000 sq. meters, in Balata, Nablus (at the
outskirts of Nablus), both in the West Bank, Palestinian Authority. Premises
also serve sister company AL-AMAD CO.
Having 20
employees serving the Group.
Current stock is
valued at NIS 6,000,000 NIS 7,000,000.
Other financial
data not forthcoming.
Consolidated sales
for subject and sister AL-AMAD CO.:
2012 sales claimed
to be NIS 50,000,000 NIS 60,000,000.
2013 sales claimed
to be NIS 40,000,000.
Projected 2014
sales, based on current pace of sales, is NIS 30,000,000.
The decrease in
sales is due to the worsening macro-economic and the political situation
concerning the Palestinian economy.
AL-AMAD CO. FOR
TRADE & INVESTMENTS, a registered Palestinian company, owned by Dawoud
Munib Amad and his son, processors, packers, suppliers and marketers of
foodstuffs.
The Housing Bank for
Trade and Finance (Iskan Bank), Nablus Branch (Al Hussein Circle, P.O. Box
1660), Nablus, West Bank, Palestinian Authority.
Al-Quds Bank,
Tulkarem Branch (Omar El-Mukhtar Street P.O. Box 1883), Nablus, West Bank,
Palestinian Authority.
Nothing
unfavorable learned.
This is a
long-established business.
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).
During June-August
2014, Israel was engaged in a military conflict with the Palestinian Hamas
Regime, which controls the Gaza Strip (currently a cease fire is held). The
conflict caused a large degree of damage to the Gaza Strip (though certain
areas were more affected than others).
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.
Good for trade
engagements.
Maximum unsecured credit recommended US$
100,000.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.29 |
|
|
1 |
Rs.98.62 |
|
Euro |
1 |
Rs.78.15 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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 SCs
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.