MIRA
INFORM REPORT
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Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
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Name : |
AHMED |
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Registered Office : |
Al Salahiya Area,
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
58013, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of general foodstuff products and tea. |
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 : |
US$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
AHMED
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1989
Commercial Registration Number :
58013,
Invested Capital : SY Pnds 1,000,000
Total Workforce : 4
Line of Business : Distributors of general foodstuff products and tea.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AHMED
ADDRESS
Registered & Physical Address
Location : Al Salahiya Area
PO Box : 10921
Town :
Country :
Telephone : (963-11) 3330338
Facsimile : (963-11) 3330338
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Damascus.
KEY PRINCIPALS
·
Ahmed
Al Zein Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1989
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 58013,
Invested Capital
: SY Pnds 1,000,000
Mr Ahmed 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 products and tea.
Import Countries
: Europe and the
Operating Trend
: Steady
Subject has a
workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Syrian
Pounds (SY Pnds)
Year Ending
31/12/05 : Year Ending
31/12/06 :
Total Revenue SY Pnds 31,400,000 SY Pnds 33,760,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Societe
Generale Cyprus Ltd
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1989, subject is owned and managed by Mr Ahmed Al Zein who is well respected in the local business
community.
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
company is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 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. |
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)