MIRA
INFORM REPORT
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Report Date : |
27th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
JAWAD TRADING COMPANY |
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Registered Office : |
Free Zone Area 11420, Damascus Syria |
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Country : |
Syria |
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Financials (as on) : |
31-12-2005 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of electronic and glass
products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
EUR 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
JAWAD TRADING COMPANY |
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Country of Origin |
Syria |
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Legal Form |
Limited Liability Partnership |
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Registration Date |
1995 |
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Issued Capital |
SY Pnds 2,000,000 |
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Paid Up Capital |
SY Pnds 2,000,000 |
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Total Workforce |
10 |
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Line of Business |
Distributors of electronic and glass products. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
JAWAD TRADING COMPANY
ADDRESS
Registered & Physical Address
Location : Free Zone Area
PO Box : 11420
Town : Damascus
Country : Syria
Telephone : (963-11) 2127885 / 2230330
Facsimile : (963-11) 2125222
Email : jawadtrading@net.sy
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Free Zone Area of Damascus.
KEY PRINCIPALS
Mohamed Deeb Jawad Managing Partner
Hassan Deeb Jawad Partner
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Issued Capital : SY Pnds 2,000,000
Paid Up Capital : SY Pnds 2,000,000
Name of Partner (s)
Mohamed Deeb Jawad
Hassan Deeb Jawad
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between
two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations :
Engaged in the import and distribution of electronic and glass products.
Import Countries : Europe and GCC countries.
Agencies Held :
Lemnark
Mercury
Sony
Panasonic
Operating Trend : Steady
Subject has a workforce of 10 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Syrian Pounds (SY Pnds)
Year Ending 31/12/04 : Year Ending 31/12/05 :
Total Revenue SY Pnds 41,000,000 SY Pnds 47,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Commercial Bank of Syria
Al Nasr Street
PO Box : 314
Damascus
Tel : (963-11) 2210444
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of EUR 150,000:
Established in 1995, subject is involved in the import and distribution of electronic and glass products.
During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk and the above credit figure is deemed to be within subject’s financial means.
Maximum suggested credit figure: EUR 150,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and principal
sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |