MIRA
INFORM REPORT
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Report Date : |
23.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
DIAB
AL YOUSSEF & SONS |
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Registered Office : |
Mokhaiem
El Yarmouk Jadda 3, Damascus |
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Country : |
Syria |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1978 |
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Com. Reg. No.: |
23903, Damascus |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the import and distribution of sanitary ware products, ceramics and tiles. |
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$
250,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : DIAB AL YOUSSEF & SONS
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 1978
Commercial Registration Number : 23903, Damascus
Invested Capital : SY Pnds 1,000,000
Total Workforce : 8
Line of Business : Distributors of sanitary ware products, ceramics and tiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
DIAB AL
YOUSSEF & SONS
ADDRESS
Registered & Physical Address
Location : Mokhaiem El Yarmouk Jadda 3
Town : Damascus
Country : Syria
Telephone : (963-11) 6316795
Facsimile : (963-11) 6331959
Email : hazem-y@scs-net.org
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Damascus.
KEY PRINCIPALS
·
Diab
Bin Mahmoud Al Youssef Proprietor
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Hazem
Diab Bin Mahmoud Al Youssef General
Manager
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Hussam
Diab Bin Mahmoud Al Youssef Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1978
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 23903, Damascus
Invested
Capital : SY Pnds 1,000,000
Mr Diab
Bin Mahmoud Al Youssef 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 sanitary ware products, ceramics and tiles.
Import
Countries :
Europe and GCC countries.
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 27,600,000 SY Pnds 31,000,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of Syria
Mouawia Street
PO Box : 2231
Damascus
Tel : (963-11) 2225870
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of transaction January 2006
Credit
amount 200,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency Euros
GENERAL COMMENTS
Established
in 1978, subject is owned and managed by Mr Diab Bin Mahmoud Al Youssef 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 business is deemed a fair trade
risk.
Maximum
suggested credit figure: US$ 250,000
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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