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Report No. : |
338056 |
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Report Date : |
27.08.2015 |
IDENTIFICATION DETAILS
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Name : |
MOHAMMED MOUSA AL NATSHEH |
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|
|
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Registered Office : |
Al Salam Street,
Hebron, West Bank, Palestinian Authority |
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|
|
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Country : |
Israel |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole Proprietorship |
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|
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Line of Business : |
Subject is
Importers of musical instrumentation (guitars, etc.), glass, and other goods. |
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|
|
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No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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|
|
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Payment Behaviour : |
Slow |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Israel |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 2013, 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. Israel's economy also has weathered the Arab Spring because strong trade ties outside the Middle East have insulated the economy from spillover effects. Slowing demand domestically and internationally and reduced investment due to uncertainties caused by the Gaza conflict in summer 2014 have reduced GDP growth to about 2% during 2014. 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 expected to come online no sooner than 2017, but production from Tamar provided a one percentage point boost to Israel's GDP in 2013 and a 0.5% boost 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 and has started splitting up the oligopolies to address some of the grievances but has maintained that it will not engage in deficit spending to satisfy populist demands. 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 |
Given Name : MOHD MOUSA AL NATASHY
MOHAMMED MOUSA AL
NATSHEH
Telephone 972 2 222 16 60
Fax 972 2 222 16 60
Al Salam Street
HEBRON, WEST BANK, PALESTINIAN AUTHORITY
A foreign sole proprietorship, established
in 2002 in the Palestinian Authority.
Operating under Dealer License No.
937696722.
Mohammed Mousa Al
Natsheh.
Mohammed Mousa Al
Natsheh.
Importers of
musical instrumentation (guitars, etc.), glass, and other goods.
We are informed that
subject deals in various fields, and in case it spots a merchandize missing
from the market, it checks and if economical, it imports the goods.
All import is
transferred to a partnership in which subject's owner is a partner, called
SHARIKAT AL MUHANAD, which markets and sells the goods.
Partnership's
sales are in the Palestinian Authority.
Operating from
premises, owned by subject, on an area of 500 sq. meters, in Al Salam Street,
Hebron, West Bank, Palestinian Authority. Premises serve mainly affiliate
SHARIKAT AL MUHANAD.
As of 2014, having
no employees in subject, only the owner, there were 7 employees serving
SHARIKAT AL MUHANAD.
Subject does not
hold stock.
Financial data not
forthcoming.
Sales data (neither
of subject, nor for SHARIKAT AL MUHANAD) not forthcoming.
SHARIKAT AL
MUHANAD, a non-registered Palestinian partnership, established in 2002, markets
subject's goods. The other partner is Mr. Sharif Mohammed Faiz Al Natsheh.
Arab Bank Plc,
Hebron Branch (Al-Salam St., P.O. Box 601), Hebron, West Bank, Palestinian
Authority.
Nothing
unfavorable learned.
Despite our efforts, so far we have been unable to speak to subject's
owner, Mr. Mohammed Mousa Al Natsheh, as he was very busy or unavailable. We shall
keep trying to reach him and update you as soon as we get fresh data. In the
past interviews, he 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, 6.3% in 2012, down to
1.9% in 2013 and negative growth (-1%) in 1stQ 2014. Much of the growth was attributed to the
foreign aid received, which due to several reasons (including geo-political
changes in the Arab world) there has been delays in the transfer of the
promised donations (in 2011 & 2012 it received outside support of US$ 1.5
billion & US$ 1.78 billion, respectively, though much less than expected).
The World Bank forecasted in September 2014 a 4% withdraw in growth in 2014:
-15% in Gaza Strip and +0.5% in the West Bank.
The fear of the
Palestinian governmental/public sector to collapse exists, which may drag banking
and financial sectors down and eventually reach the private sector (which feels
the crisis to less extent, yet still has significant impact).
Other current
indicators are still alarming, mainly in the Gaza Strip, such as high
unemployment rates: 17.7% in the West Bank in 2014, around 44% in Gaza in
2014), and poverty (70% in Gaza). Gaza Strip population account for 40% of the
Palestinian population and 24% of Palestinian GDP in 2013 (indications are on
decrease to 12% of the GDP in 2014).
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, but 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 lack of updated data from subject's owner, we figure it to be good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.16 |
|
|
1 |
Rs.103.88 |
|
Euro |
1 |
Rs.75.89 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
ASH |
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.