MIRA
INFORM REPORT
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Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE AKRAM
MEDKHANA |
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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 : |
1986 |
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Com. Reg. No.: |
53500, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale
and retail of tobacco, lingerie and footwear. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : SOCIETE AKRAM MEDKHANA
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1986
Commercial Registration Number :
53500,
Invested Capital : SY Pnds 1,500,000
Total Workforce : 12
Line of Business : Wholesalers and retailers of tobacco, lingerie and
footwear.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SOCIETE AKRAM
MEDKHANA
ADDRESS
Registered & Physical Address
Street : Al Sagana Road
Area : Chaghour Kazazine Region de
Kazaz
Town :
Country : Syria
Telephone : (963-11) 5425076
Facsimile : (963-11) 5425076
Mobile : (963-94) 601002
Email : gh.c.so@scs-net.org
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Damascus.
KEY PRINCIPALS
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Akram
Mohiddine Medkhana Proprietor
& General Manager
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Alaa
Rajeh Assistant
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1986
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 53500,
Damascus
Invested Capital
: SY Pnds 1,500,000
Mr Akram Mohiddine
Medkhana 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 wholesale and retail of
tobacco, lingerie and footwear.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 12 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 23,400,000 SY Pnds 28,750,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of
Al Nasr Street
PO Box : 314
Damascus
Tel : (963-11) 2210444
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1986, subject is owned and managed by Mr Akram Mohiddine Medkhana who is well
respected in the local business centre.
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$ 100,000
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%)