MIRA
INFORM REPORT
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Report Date : |
17.07.2007 |
IDENTIFICATION DETAILS
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Name : |
AYMAN AND JAMAL
ELDIN SHERETHI |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2nd April 2000 |
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Com. Reg. No.: |
7626, |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the import
and distribution of general foodstuff products. |
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$ 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AYMAN AND JAMAL ELDIN SHERETHI
Country of Origin :
Legal Form : General Partnership
Registration Date : 2nd April 2000
Commercial Registration Number :
7626,
Membership Number : 8514
Partners Capital : SY Pnds 3,000,000
Total Workforce : 6
Line of Business : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AYMAN AND JAMAL
ELDIN SHERETHI
ADDRESS
Registered & Physical Address
Building :
Street :
Area : Jorat Al Shiyah
Town :
Country :
Telephone : (963-31) 2230163 / 6256921
Facsimile : (963-31) 2666029
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Homs.
KEY PRINCIPALS
·
Ayman
Ibn Ahmed Sherethi Managing
Partner
·
Jamal
Eldin Ibn Mohamed Sherethi Partner
LEGAL FORM &
OWNERS
Date of Establishment : 2nd
April 2000
Legal Form :
Sharikat Tadhamun (General
Partnership)
Commercial Reg. No. : 7626,
Membership No. : 8514
Partners Capital : SY Pnds 3,000,000
Name of Partner (s)
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Ayman
Ibn Ahmed Sherethi
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Jamal
Eldin Ibn Mohamed Sherethi
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
general foodstuff products.
Import Countries
: Europe and the
Operating Trend
: Steady
Subject has a
workforce of 6 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 48,300,000 SY Pnds 52,170,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
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Commercial Bank of
Hesham Ibn Abed
Tel : (963-31) 225214
Fax : (963-31) 223300
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2000, subject is owned and managed by Mr Ayman Ibn Ahmed Sherethi and Mr Jamal Eldin Ibn Mohamed
Sherethi who are well respected in the local business community.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 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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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%)