Attachment 1
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Report
Update On |
19th April, 2001 |
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Report on |
AIDA IMPORT EXPORT |
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Registered Office |
Abu Al Alaa Al Maari, Near Homs Cinema, Tok Building, P. O. Box 5534, Beghtasieh,
Syria |
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Tel. No. |
+963-31-482758 |
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Fax No. |
+963-31-228568 / 4199630 |
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E-Mail |
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Telex |
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Attachment 2
SUMMARY
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Incorporated |
1979 |
Status |
Moderate |
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Registration No. |
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Chief Executive |
Mr. Aida Farah |
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Capital (US$) |
100,000 |
Payments |
Regular |
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Sales |
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Litigation |
-- |
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Net Worth |
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Banking Reputation |
Satisfactory |
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No. of Employees |
5 |
Auditors |
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Credit Rating |
B (See attachment 3) |
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NAME & ADDRESS
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Name Inquired
Under |
AIDA IMPORT EXPORT |
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Correct
Registered Name |
AIDA FARAH (under registration- see general
comments)) |
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Other Trading
Name |
AIDA IMPORT EXPORT |
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Street |
Abu Al Alaa Al Maari, |
Postal Code |
N/A |
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Near Homs Cinema, Tok Bldg. |
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P.O. Box |
5534 |
Postal Code |
N/A |
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Locality |
beghtasieh |
Town |
Homs |
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Tel |
+963-31-482758 |
Fax |
+963-31-228568, 4199630 |
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E-mail |
N/A |
Telex |
N/A |
LEGAL STATUS
Sole Proprietorship
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Date Founded |
1979 |
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Trade
Registration No. & Town |
Under Registration |
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Old Name
Registered Under |
HEKMAT IMPORT EXPORT |
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Present Style
Adopted On |
2001 |
PRINCIPALS
Shareholders/Partners/Proprietor
Name Equity Nationality
Mr. Aida Farah 100% Syrian
Directors/Managers
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Name |
Position |
Age |
Qualifications |
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Mr. Samir Khouzam |
General Manager |
60 |
Law |
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Mr. Saadi Al Shaar |
Financial Controller |
57 |
Techn. Preparation Inst. |
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Mr. Rachid Abou Tok |
Sales & Marketing Manager |
27 |
Commerce/ B.A. |
RELATED COMPANIES
“Al Maha Trading Company”: Sister Company, established in 1999. It is involved in the specification and general trading contract.
“Al Sha'ar Import Export”: Sister Company, incorporated in 1990.
OPERATIONS
Mode of Operation:
Importers (100%), Distributors, Tenderers, Commission Agent, Exclusive Agent: of paper, syringe, foodstuff, industrial materials 100%.
Activities:
Subject is involved in the general trading on wholesale (50%), and contracting (50%) basis.
No of Employees (Categories)
5 Persons (4 management, 1 worker)
AGENCIES
Name Country Product
TARSHI Korea Syringe
CAN MECKERS India Barrel Cover
TRADE SUPPLIERS
Name
Country Product
EXIM Germany metallic plate
JEN TRADE England various materials
NORTH STREAM Canada various materials
Import From
Germany, England, Canada, Austria, India.
Import Terms
L/C 20%, Credit 30% up to 30-90 days, Cash 50%.
Export To
Not disclosed.
Export Terms
Not disclosed.
DESCRIPTION OF PREMISES
Headquarters:
Company in question is located at the address given overleaf. Premises are owned, comprised of an office, covering an area of about 200sqm, a showroom, covering an area of about 200sqm, and 7 warehouses covering an area of about 300sqm.
BANKERS
Commercial Bank of Syria, Branch No 1, Homs.
HSBC, USA, Washington.
France Bank, Switzerland, Geneva .
France Bank, UAE, Dubai.
FINANCES
Currency: US Dollars ($) Financial Year: 2001
Registered Capital: 200.000 Paid Up Capital: 100.000
Sales Turnover: 2001 projected 600.000
Economic Results: The company has restarted operating in the year 2000 (see General Comments).
Average
Stock:
Finished Goods 50.000
Current Assets:
Stock 50.000
Debtors 30.000
Current
Liabilities:
Salaries 40.000
Fixed Assets: 350.000
Working
Capital: 40.000
Net Assets: 390.000
PAYMENT
No complaints
Commercial Morality: Good
Financial Strength: Moderate
GENERAL COMMENTS:
The mentioned company was established in 1975. It was known as “Hekmat Import Export”, and used to be involved in the general trading on commission basis. In 1982, the company stopped working due to the hard economic circumstances.
However, in the year 2000, the company was re-opened by Mr. Samir Khouzam in cooperation with Messrs Tok and Sha'ar. They are in process of preparing the new trade registration under the name of Mrs. Aida Farah (the Wife of Mr. Khouzam)
According to the person interviewed, the company is planning to export glass to Sudan.
Further, competition is very strong, but as it has been explained, the company copes with it by introducing high quality products on competitive prices, through an effective marketing process.
Additionally, company’s type and number of customers are wholesalers, factories, public & private sector companies (60).
Moreover, subject’s current contracts are as follows:
1] Homs Refinery, with a value of 10.000.000 Syrian Liras (S.L.)
2] Al Rastan Cement Company, with a value of 3.000.000 Syian Liras (S.L.)
Attachment 3
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SCORE SHEET |
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SCORE |
CREDIT 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. Maybe drawn to
slightly difficult position as unfavourable conditions arise. Minimal
assurance for timely payment on interest and principal sums |
Moderate |
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26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively limited or considered
not known. Capability to pay both interest and principal sums is doubtful |
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 |
Attachment 4
ACKNOWLEDGEMENT
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Company’s Stamp &
Signature