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Report No. : |
349849 |
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Report Date : |
20.11.2015 |
IDENTIFICATION DETAILS
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Name : |
AL-WALD TRADING CO. LTD. |
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Registered Office : |
P.O. Box
36, Abu Baker Street, Jenin West Bank
Palestinian Authority |
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Country : |
Israel |
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Year of Establishment : |
2008 |
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Com. Reg. No.: |
56-212432-1 |
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Legal Form : |
A Foreign Private Limited Company |
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Line of Business : |
Subject is
traders, importers and marketers of pulses, rice, tea |
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No. of Employee
: |
6 |
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.
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 |
|
Restricted |
C2 |
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Off-credit |
D |
Note:
Given Name:
SHARIKAT AL WALD AL TIJARIAH (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, tea.
Note: subject ceased
to import and market coffee.
Operating from
rented premises (office and sales store), on an area of 120 sq. meters, in Abu
Bakker Street, and from an owned warehouse, on an area of 800 sq. meters, in a
nearby location, both in Jenin, West Bank, Palestinian Authority.
Having 6 employees
(same as in the beginning of 2014).
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, and was on the verge of bankruptcy (delay in payment of US$
500,000 to the private and public sectors, fear it will be unable to redeem
loans to local banks in volume of US$ 1.2 billion, trade deficit of US$ 4
billion - 50% of GDP). However, there has been a clear division between the
West Bank and the Gaza Strip economies.
The Palestinian
economy in the West Bank grew in average of 7.5% in the years 2004-2013, though
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 (donating countries committed to give Gaza US$ 3.5
billion till 2017). 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.
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 refusal to disclose
financial details, considered good for trade engagements.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.11 |
|
|
1 |
Rs.101.03 |
|
Euro |
1 |
Rs.70.78 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.