MIRA
INFORM REPORT
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Report Date : |
22.12.2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
GHALEB HASSAN AL
HARASH |
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Registered Office : |
Al Midan Main
Street, P O Box 14433 & 1977, Damascus |
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Country : |
Syria |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1965 |
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Com. Reg. No.: |
420666, Damascus |
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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, including tea, sugar, rice
and dried foods. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GHALEB HASSAN AL HARASH
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 1965
Commercial Registration Number : 420666, Damascus
Invested Capital : SY Pnds 3,500,000
Total Workforce : 7
Line of Business : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
GHALEB HASSAN AL
HARASH
ADDRESS
Registered & Physical Address
Location : Al Midan Main Street
PO Box : 14433 & 1977
Town : Damascus
Country : Syria
Telephone : (963-11) 6323884 / 8880114
Facsimile : (963-11) 6323884
Email : aofa@hotmail.com
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
·
Ghaleb Hassan
Al Harash Proprietor
& General Manager
·
Awfa Ghaleb
Hassan Al Harash Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1965
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 420666,
Damascus
Invested Capital
: SY Pnds 3,500,000
Mr Ghaleb Hassan Al
Harash 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, including tea, sugar, rice and dried foods.
Import Countries
: Europe, Sri Lanka and the
Far East.
Operating Trend
: Steady
Subject has a
workforce of 7 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 5,240,000 SY Pnds
5,876,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Bank of Syria
and Overseas
Al Harika Branch
Damascus
Tel : (963-11) 2460560 / 2460569
Fax
: (963-11) 2460555
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction September 2005
Credit amount 90,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in
1965, subject is owned and managed by Mr Ghaleb Hassan Al Harash who is well
respected in the local business community.
According to local
sources, subject’s financial condition is satisfactory whilst payments are made
in a timely manner. The company’s operating history is reportedly clear and the
subject is deemed a sound 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%)