MIRA
INFORM REPORT
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Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
WISSAL MALAS BENT SALAH |
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Registered Office : |
Hosh Blas, PO Box
1499, Damascus |
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Country : |
Syria |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1990 |
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Com. Reg. No.: |
40636, Damascus |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution of paper tissues, toilet paper, kitchen
rolls, nappies and sanitary napkins |
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$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : WISSAL MALAS BENT SALAH
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 1990
Commercial Registration Number : 40636, Damascus
Invested Capital : SY Pnds 2,000,000
Total Workforce : 10
Activities : Import and distribution of paper tissues, toilet paper, kitchen rolls, nappies and sanitary napkins
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 500,000
COMPANY NAME
WISSAL MALAS BENT
SALAH
ADDRESS
Registered & Physical Address
Location : Hosh Blas
PO Box : 1499
Town : Damascus
Country : Syria
Telephone : (963-11) 6951978 / 2223441 / 6351637
/ 6351598
Facsimile : (963-11) 3331945 / 6351979
Email : care@net.sy
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Damascus.
KEY PRINCIPALS
Name Position
·
Wissal Malas
Bent Salah Proprietor
& General Manager
·
Masoun Al
Sebai Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1990
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 40636,
Damascus
Invested Capital
: SY Pnds 2,000,000
Mr Wissal Malas
Bent Salah is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
paper tissues, toilet paper, kitchen rolls, nappies and sanitary
napkins.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 10 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Syrian
Pounds (SY Pnds)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales SY Pnds
34,300,000 SY Pnds
37,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Comptoir
Commercial Bank
Main Branch
Damascus
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction August
2006
Credit amount 300,000
Amount overdue 0
Payment terms 90
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
GENERAL COMMENTS
Established in
1990, subject is owned and managed by Mr Wissal Malas Bent Salah 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 business is deemed a fair trade risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.73 |
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UK Pound |
1 |
Rs.80.31 |
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Euro |
1 |
Rs.64.61 |
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%)