MIRA
INFORM REPORT
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Report Date : |
15.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
WAEL
AL KOURDI |
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Registered Office : |
Al
Kourdi Building, Prison Street, Saba Bharat Square, P O Box 3158 & 1834,
Aleppo |
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Country : |
Syria |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
30th September 1986 |
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Com. Reg. No.: |
43124 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the import and distribution of herbal products and general hardware. |
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 : |
Usually
correct |
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Litigation : |
Clear |
SUMMARY
Company Name : WAEL AL KOURDI
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 30th September 1986
Commercial Registration Number : 43124, Aleppo
Membership Number : 611
Invested Capital : SY Pnds 500,000
Total Workforce : 6
Line of Business : Distributors of herbal products and general hardware.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
WAEL AL
KOURDI
ADDRESS
Registered & Physical Address
Building : Al Kourdi Building
Street : Prison Street
Area : Saba Bharat Square
PO Box : 3158 & 1834
Town : Aleppo
Country : Syria
Telephone : (963-21) 2316825 / 3622136
Facsimile : (963-21) 2316825
Mobile : (963-94) 240204
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Aleppo.
KEY PRINCIPALS
·
Wael
Al Kourdi Bin Adel Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 30th September 1986
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 43124, Aleppo
Membership No. : 611
Invested
Capital : SY Pnds 500,000
Mr Wael
Al Kourdi Bin Adel 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.
AFFILIATED COMPANIES
· Wael El Kourdi & Najah Al
Reda (Al Razi Stores)
Al Kourdi Building
Prison Street
Saba Bharat Square
PO Box : 3158 & 1834
Aleppo
Tel : (963-21) 2316825 / 3622136
Fax : (963-21) 2316825
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of herbal products and general hardware.
Import
Countries :
Europe and GCC countries.
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
31/12/04 : Year
Ending 31/12/05 :
Total
Revenue SY Pnds 48,500,000 SY Pnds 52,400,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Bank
of Syria & Overseas (BSO)
Main Branch
Aleppo
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 150,000:
Established
in 1986, subject is owned and managed by Mr Wael Al Kourdi Bin Adel 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 company is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
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/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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