MIRA INFORM REPORT
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Report Date : |
23rd May 2006 |
IDENTIFICATION DETAILS
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Name : |
AHMAD ZEIN SHAN AL ZEIN
ESTABLISHMENT |
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Registered Office : |
Alf
Center 8th
Azar Square, 10921 Damascus, Syria |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
58013,
Damascus |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import
and distribution of general foodstuff. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 : |
US$
75,000 |
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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 |
AHMAD ZEIN SHAN AL ZEIN ESTABLISHMENT |
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Country of Origin |
Syria |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1988 |
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Commercial Registration Number |
58013, Damascus |
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Membership Number |
7961 |
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Invested Capital |
SY Pnds 2,000,000 |
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Total Workforce |
10 |
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Line of Business |
Import and distribution of general foodstuff. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AHMAD ZEIN SHAN AL
ZEIN ESTABLISHMENT
ADDRESS
Registered &
Physical Address
Building : Alf Center
Street : 8th Azar Square
PO Box : 10921
Town : Damascus
Country : Syria
Telephone : (963-11) 3330338 / 3334878
Facsimile : (963-11) 3320405
Email : a-zein@net.sy
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Damascus.
KEY PRINCIPALS
Ahmad Zein Shan Al
Zein Proprietor
& General Manager
Bassam Al Zein Assistant
General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1988
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg.
No. : 58013, Damascus
Membership No. : 7961
Invested Capital
: SY Pnds 2,000,000
Mr Ahmad Zein Shan
Al Zein is the sole proprietor of the business.
Note to the
Legal Form
Commonly referred
to as an establishment, the Company Law defines Mouassasa Khassa as the
business of an individual where liability for all debts is unlimited. The
business is the entire responsibility of its proprietor, who is liable for all
its debts to the extent of his entire wealth. There are no legal requirements
concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations: Engaged in the import and distribution of
general foodstuff, including dried food, rice, lentils, sugar, edible oils and
tea.
Import
Countries: Sri Lanka,
Thailand, India and Turkey.
Brand Names: ZEIN
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 44,500,000 SY Pnds 48,720,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
Banque Bemo Saudi
Fransi
Adeeb Ishac Street
Bab Touma
Damascus
Tel: (963-11)
5433056
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Ahmad Zein Shan Al
Zein Establishment has been trading since 1988 and is engaged in the import and
distribution of general foodstuff.
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk.
Maximum suggested
credit figure: US$ 75,000
RATING EXPLANATIONS
RATING
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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 |