MIRA
INFORM REPORT
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Report Date : |
28.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
JIHAD SAMIR
KADDOUR CO |
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Registered Office : |
Al Thawra Street,
Al Meshabke, P O Box 1020, Tartous |
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Country : |
Syria |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1954 |
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Com. Reg. No.: |
10273, Tartous |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the manufacture
of paint and the distribution of ceramics and sanitary ware products. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 250,000 |
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Status : |
Good |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : JIHAD SAMIR KADDOUR CO
Country of Origin : Syria
Legal Form : Limited Liability Partnership
Registration Date : 1954
Commercial Registration Number : 10273, Tartous
Issued Capital : SY Pnds 1,500,000
Paid Up Capital : SY Pnds 1,500,000
Total Workforce : 35
Line of Business : Manufacturers of paint and distributors of ceramics
and sanitary ware products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
JIHAD SAMIR KADDOUR
CO
ADDRESS
Registered & Physical Address
Street : Al Thawra Street
Area : Al Meshabke
PO Box : 1020
Town : Tartous
Country : Syria
Telephone : (963-43) 326700
Facsimile : (963-43) 326700 / 213700
Premises
Subject operates
from a small suite of offices and a factory that are owned and located in the
Industrial Area of Tartous.
KEY PRINCIPALS
·
Jihad Samir
Kaddour Managing
Partner
·
Kefah Samir
Kaddour Partner
·
Emad Samir
Kaddour Partner
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Ameed Samir
Kaddour Partner
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Sayed Samir
Kaddour Partner
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Robin Samir
Kaddour Partner
·
Maher Samir
Kaddour Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1954
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability Partnership)
Commercial Reg. No. : 10273,
Tartous
Issued Capital : SY Pnds 1,500,000
Paid Up Capital : SY Pnds 1,500,000
Name of Partner (s)
·
Jihad Samir
Kaddour
·
Kefah Samir
Kaddour
·
Emad Samir
Kaddour
·
Ameed Samir
Kaddour
·
Sayed Samir
Kaddour
·
Robin Samir
Kaddour
·
Maher Samir
Kaddour
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 manufacture of paint and the
distribution of ceramics and sanitary ware products.
Import Countries
: Europe and the Far East.
Brand Names : BLUTON and PAOLO.
Operating Trend
: Steady
Subject has a
workforce of 35 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 48,760,000 SY Pnds 52,540,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of Syria
PO Box : 10
Tartous
Tel : (963-43) 327588
Fax : (963-43) 221153
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction March 2006
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
GENERAL COMMENTS
Established in
1954, subject is involved in the manufacture of paint and the distribution of
ceramics and sanitary ware products.
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.
Maximum suggested credit
figure: US$ 250,000
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%)