MIRA
INFORM REPORT
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Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SAMER ABOU ZEID |
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Registered Office : |
Al Harequa
Square, Bzoria Dakaken, Medhat Basha Market, Khan Al Jumrouk, Damascus |
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Country : |
Syria |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
71801, Damascus |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the wholesale
and retail of fabrics, textiles and threads. |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : SAMER ABOU ZEID
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 2002
Commercial Registration Number : 71801, Damascus
Invested Capital : SY Pnds 2,500,000
Total Workforce : 5
Line of Business : Wholesalers and retailers of fabrics, textiles and threads.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SAMER ABOU ZEID
ADDRESS
Registered & Physical Address
Location : Al Harequa Square, Bzoria Dakaken,
Medhat Basha Market
Area : Khan Al Jumrouk
Town : Damascus
Country : Syria
Telephone : (963-11) 2240863
Facsimile : (963-11) 2240863
Mobile : (963-94) 218422
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
·
Samer Adnan
Abou Zeid Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2002
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 71801,
Damascus
Invested Capital
: SY Pnds 2,500,000
Mr Samer Adnan Abou
Zeid 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
fabrics, textiles and threads.
Import Countries
: Europe and GCC countries.
Operating Trend
: Steady
Subject has a
workforce of 5 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 25,600,000 SY Pnds 27,850,000
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.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
2002, subject is involved in the wholesale and retail of fabrics, textiles and
threads.
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
business is considered to be a fair trade risk and the above credit figure is
deemed 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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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%)