MIRA
INFORM REPORT
|
Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
GOLDEN
STONE |
|
|
|
|
Registered Office : |
Route
Saida Zineb 100, Babilaa, PO Box: 47, Damascus, Syria |
|
|
|
|
Country : |
Syria |
|
|
|
|
Date of Incorporation : |
1982 |
|
|
|
|
Com. Reg. No.: |
6499, Damascus |
|
|
|
|
Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
|
|
|
|
Line of Business : |
Importer
and Distributors of ceramics, tiles and sanitary ware
products. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
EUR
100,000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
GOLDEN STONE |
|
Country of Origin |
Syria |
|
Legal Form |
Sole Proprietorship |
|
Registration Date |
1982 |
|
Commercial Registration Number |
6499, Damascus |
|
Invested Capital |
SY Pnds 1,000,000 |
|
Total Workforce |
8 |
|
Line of Business |
Distributors of ceramics, tiles and sanitary ware products. |
|
Financial Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating Trend |
Steady |
COMPANY NAME
GOLDEN
STONE
ADDRESS
Registered & Physical Address
Street : Route Saida Zineb 100
Area : Babilaa
PO Box : 47
Town : Damascus
Country : Syria
Telephone : (963-11) 6420443
Facsimile : (963-11) 6420443
Mobile : (963-92) 929270
Email : goldenstone@mail.sy
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Central Business Area of Damascus.
KEY PRINCIPALS
·
Maher
Hussain Al Halabi Proprietor
& General Manager
·
Nasreen
Abu Diaa Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1982
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 6499, Damascus
Invested
Capital : SY Pnds 1,000,000
Mr Maher
Hussain Al Halabi 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 ceramics, tiles and sanitary ware products.
Import
Countries :
Tunisia
International
Suppliers :
·
Someser Tunisia
·
Sanimed Tunisia
·
Soser Tunisia
Operating
Trend : Steady
Subject
has a workforce of 8 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 39,500,000 SY Pnds 42,900,000
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 100,000:
Established
in 1982, subject is owned and managed by Mr Maher Hussain Al Halabi who is well
respected in the local business community.
Local
sources report that payment obligations are met in a generally timely manner
and the operating history is clear. As such the company is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: EUR 100,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry
similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|