MIRA
INFORM REPORT
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Report Date : |
15th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
GEORGE
HADAYA |
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Registered Office : |
Bustan
Kul Ab Area, PO Box : 502, Aleppo, Syria |
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Country : |
Syria |
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Date of Incorporation : |
1962 |
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Com. Reg. No.: |
3843, Aleppo |
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Legal Form : |
Sharikat
Tadhamun Bill Asshum (Limited Liability Partnership) |
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Line of Business : |
Importer and Distributors of spare parts for tractors and other agricultural equipment. |
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
80,000 |
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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 |
GEORGE HADAYA |
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Also Known As |
HADAYA CO |
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Country of Origin |
Syria |
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Legal Form |
Limited Liability Partnership |
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Registration Date |
1962 |
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Commercial Registration Number |
3843, Aleppo |
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Membership Number |
2479 |
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Issued Capital |
SY Pnds 1,000,000 |
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Paid Up Capital |
SY Pnds 1,000,000 |
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Total Workforce |
12 |
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Line of Business |
Distributors of spare parts for tractors and other agricultural equipment. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
GEORGE
HADAYA
ALSO KNOWN AS
HADAYA
CO
ADDRESS
Registered & Physical Address
Location : Bustan Kul Ab Area
PO Box : 502
Town : Aleppo
Country : Syria
Telephone : (963-21) 2112138
Facsimile : (963-21) 2112163
Email : info@hadayaco.com
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Central Business Area of Aleppo.
KEY PRINCIPALS
·
George
Hadaya Managing
Partner
·
Said
Hadaya Partner
LEGAL FORM & OWNERS
Date of Establishment : 1962
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Commercial Reg. No. : 3843, Aleppo
Membership No. : 2479
Issued
Capital : SY Pnds 1,000,000
Paid
Up Capital : SY Pnds 1,000,000
Name of Partner (s)
·
George
Hadaya
·
Said
Hadaya
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 spare parts for tractors and other agricultural
equipment.
Import
Countries :
Spain, Italy and the United Kingdom.
International
Suppliers :
·
Rocket Spain
·
Anta Spain
Operating
Trend : Steady
Subject
has a workforce of 12 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
42,300,000 SY Pnds
46,750,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Commercial
Bank of Syria
Kastel Hajjarin Street
Aleppo
Tel : (963-21) 4239601
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of EUR 50,000:
Established
in 1962, subject is involved in the import and distribution of spare parts for
tractors and other agricultural equipment.
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 80,000
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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