MIRA INFORM REPORT

 

 

Report Date :

08.06.2007

 

IDENTIFICATION DETAILS

 

Name :

ATOMIC ENERGY COMMISSION OF SYRIA (ACES)

 

 

Registered Office :

Mazzaeh Villat, Gharbieh, P O Box 6091, Damascus

 

 

Country :

Syria

 

 

Date of Incorporation :

1967

 

 

Legal Form :

Government Corporation

 

 

Line of Business :

Engaged in the research and study of atomic energy.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 500,000

 

 

Status :

Satisfactory 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

SUMMARY

 

Company Name                         : ATOMIC ENERGY COMMISSION OF SYRIA (ACES)

Country of Origin                                    : Syria

Legal Form                                            : Government Corporation

Registration Date                                   : 1967

Issued Capital                                        : SY Pnds 100,000,000

Paid Up Capital                                      : SY Pnds 100,000,000

Total Workforce                                     : 150

Line of Business                                    : Researchers of atomic energy.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

ATOMIC ENERGY COMMISSION OF SYRIA (ACES)

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Mazzaeh Villat

Area                 : Gharbieh

PO Box             : 6091

Town                 : Damascus

Country             : Syria

Telephone         : (963-11) 2132580 / 6668114 / 6668115

Facsimile          : (963-11) 6112289 / 6620317

Email                : atomic@aec.org.sy

 

 

Premises

 

Subject operates from a large suite of offices that are owned and located in the Central Business Area of Damascus.

 

 

KEY PRINCIPALS

 

·       Dr Ibrahim Othman                                                                Managing Director

 

·       Dr Mohamed Al Nema                                                           General Manager

 

·       Susan Abbass                                                                      Public Relations Manager

 

·       Jamal Al Surdi                                                                      Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1967

 

Legal Form                  : Government Corporation

 

Issued Capital              : SY Pnds 100,000,000

 

Paid Up Capital           : SY Pnds 100,000,000

 

 

Name of Shareholder (s)         Percentage

 

·        Government of Syria                                                             100%

 

LINE OF BUSINESS

 

Operations : Engaged in the research and study of atomic energy.

 

Subject has a workforce of 150 employees.

 

 

FINANCIAL HIGHLIGHTS

 

Companies registered in Syria are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Commercial Bank of Syria

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 1967, subject is a government corporation involved in the research and study of atomic energy.

 

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$ 500,000

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions