MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
HAS GROUP |
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Registered Office : |
Basel al Assad Boulevard, Mashrou Dummar, P O Box : 111,
Damascus, |
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Country : |
Syria |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
27.02.1999 |
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Com. Reg. No.: |
69969, Damascus |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of safety, security and lifting equipment |
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$ 125,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
HAS GROUP
Country of Origin :
Syria
Legal Form :
Limited Liability Partnership
Registration Date :
27th February 1999
Commercial Registration Number :
69969, Damascus
Chamber Membership Number :
424
Issued Capital :
SY Pnds 2,500,000
Paid up Capital :
SY Pnds 2,500,000
Total Workforce :
15
Activities :
Import and distribution of safety, security and lifting equipment
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 125,000
COMPANY NAME
HAS GROUP
ADDRESS
Registered & Physical Address
Street : Basel al
Assad Boulevard
Area : Mashrou
Dummar
PO Box : 111
Town : Damascus
Country : Syria
Telephone : (963-11)
3112244
Facsimile : (963-11)
3112277
Mobile : (963-96)
955559
Email : hawa@has-group.com
Premises
Subject operates from a small suite of offices and a warehouse that are
owned and located in the Central Business Area of Damascus.
KEY PRINCIPALS
Name Position
Mohamed Musalam Hawa Managing
Partner
Ahmed Musalam Hawa Partner
Zayed Al Dali Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 27th
February 1999
Legal Form : Limited Liability
Partnership
Commercial Reg. No. : 69969, Damascus
Chamber Member No. : 424
Issued Capital : SY Pnds 2,500,000
Paid up Capital : SY Pnds 2,500,000
Name of Shareholder
(s)
Mohamed Musalam Hawa
Ahmed Musalam Hawa
OPERATIONS
Activities: Engaged in the import and distribution of safety, security and lifting
equipment.
Import Countries: Germany and France
International Suppliers:
Uvex Arbeitsschutz GmbH Germany
Gallatte France
Operating Trend: Steady
Subject has a workforce of 15 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 66,285,000 SY Pnds
68,900,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
Commercial Bank of Syria
Al Nasr Street
PO Box : 314
Damascus
Tel : (963-11) 2210444
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction November
2006
Credit amount 50,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
GENERAL COMMENTS
Established in 1999, subject is involved in the import and distribution
of safety, security and lifting equipment.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)