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MIRA
INFORM REPORT
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Report No. : |
505338 |
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Report Date : |
27.04.2018 |
IDENTIFICATION DETAILS
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Name : |
AL SULTAN MODERN CO. |
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Registered Office : |
Kafr Ajja, Jenin
West Bank Palestinian Authority |
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Country : |
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Date of Incorporation : |
1996 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Breeders of
Chicks for Fattening. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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D |
D |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
Company name & address
AL SULTAN MODERN
CO.
Telephone 972 4 243 38 01
Mobile 972 59 931 01 12 (Tahsin
Omaria)
Fax 972 4 243 37 01
Kafr Ajja
Jenin West Bank Palestinian Authority
HISTORY & LEGAL FORMATION
A foreign private limited company, established
in 1996, registered in the Palestinian Authority as per file No. 56-248364-4.
SHARE CAPITAL
Data not forthcoming.
SHAREHOLDERS
The company is
owned by Tahsin Omaria and his children.
GENERAL MANAGER
Tahsin Omaria.
Mr. Omaria is also known in his nickname
“Al-Sultan”.
BUSINESS
Breeders of chicks
for fattening.
We are informed
that all purchasing is from local suppliers.
Operating from a
farm in Kafr Ajja (Ajja village), adjacent Jenin (in the district of Jenin),
Number of
employees not forthcoming.
MEANS
Financial data not
forthcoming.
REVENUES
Sales data not
forthcoming.
BANKERS
Bank data not
forthcoming.
CHARACTER AND REPUTATION
We spoke with subject’s General Manager, Mr. Tahsin Omaria. He
confirmed to us general details, but refused to add further business data,
saying they do not have imports, therefore he sees no reason for sharing
information.
During 2012, into
2013, the Palestinian Authority entered a serious credit crisis, with a dire
shortage in cash, suffering a chronic deficit, 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
After the
Palestinian economy in the West Bank grew in average of 7.5% in the years
2004-2013, the World Bank reports on a decrease trend in per-capita GDP in the
West Bank and
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 and keeps contracting.
Other current
indicators are still alarming, mainly in the Gaza Strip, such as high
unemployment rates (18% in the West Bank, close to 50% in
According to the
Palestinian Central Bureau of Statistics (CBS) data, GDP of the Palestinian
Economy in 2016 was circa US$ 13,400 million in current prices, up from US$
12,670 million in 2015 (was US$ 7.700 million in 2015 and US$ 7,460 million in
2014 at constant prices, where 2004 is the base year).
GDP per capita in
the West Bank stands on US$ 4,000, however well lower in Gaza Strip, whose
economy has been in different condition Jointly, GDP per capita stood on close
to US$ 2,960 in 2016, US$ 2,860 in 2015 in current prices, based on CBS data,
or circa US$ 1,740 in 2015 & 2014 at constant prices).
In terms of
foreign trade, Total Import in 2013 summed up to US$ 4,800 million. Over 80% of
imported goods to the
SUMMARY
In principle, appears to be a reasonably fair
trading partner. Yet, considering the refusal to disclose business details, we prefer to remain cautious and recommend dealings 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 |
INR 66.83 |
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1 |
INR 93.17 |
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Euro |
1 |
INR 81.37 |
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ILS |
1 |
INR 18.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
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Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.