MIRA
INFORM REPORT
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Report Date : |
05.10.2007 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED HAKKI |
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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 : |
1974 |
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Com. Reg. No.: |
59666, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the manufacture
of men’s clothing, including T shirts, shirts and jackets. |
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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
MOHAMED HAKKI
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1974
Commercial Registration Number :
59666,
Industrial Licence Number : 131
Issued Capital : SY Pnds 10,000,000
Paid Up Capital : SY Pnds 10,000,000
Total Workforce : 85
Line of Business : Manufacturers of men’s clothing.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MOHAMED HAKKI
ADDRESS
Registered & Physical Address
Location : Tareq Bin Ziyad Street
PO Box : 1488
Town :
Country : Syria
Telephone : (963-11) 2226332 / 2247144
Facsimile : (963-11) 2247240
Email : ammar-971@mail.sy
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Damascus.
KEY PRINCIPALS
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Mohamed
Hakki Al Ashkar Managing
Partner
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Ammar
Mohamed Hakki Al Ashkar Partner
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Bashar
Mohamed Hakki Al Ashkar Partner
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Yaser
Mohamed Hakki Al Ashkar Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1974
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability Partnership)
Commercial Reg. No. : 59666,
Damascus
Industrial Licence No. : 131
Issued Capital : SY Pnds 10,000,000
Paid Up Capital : SY Pnds 10,000,000
Name of Partner (s)
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Mohamed
Hakki Al Ashkar
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Ammar
Mohamed Hakki Al Ashkar
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Bashar
Mohamed Hakki Al Ashkar
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Yaser
Mohamed Hakki Al Ashkar
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.
AFFILIATED
COMPANIES
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Reean
Establishment for Readymade Garments
PO Box : 1488
Damascus
Tel : (963-11) 2226332 / 2247144
Fax : (963-11) 2247240
LINE OF BUSINESS
Operations : Engaged in the manufacture of men’s
clothing, including T shirts, shirts and jackets.
Import Countries
: Europe and the Far East.
Brand Names : REEAN
Operating Trend
: Steady
Subject has a
workforce of 85 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 137,000,000 SY Pnds 145,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
Bank of
Branch No. 4
Harriqa Square
PO Box : 183
Damascus
Tel : (963-11) 2211900
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1974, subject is involved in the manufacture of men’s clothing, including T
shirts, shirts and jackets.
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$ 300,000
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. |
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%)