MIRA
INFORM REPORT
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Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
FALLAHA INDUSTRIAL & TRADING CO EXPORT IMPORT |
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Registered Office : |
Souika Street, PO Box 6303 & 6312, Aleppo |
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Country : |
Syria |
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Date of Incorporation : |
1952 |
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Com. Reg. No.: |
1197, Aleppo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Manufacturers of Plastic Appliances. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
FALLAHA INDUSTRIAL & TRADING CO EXPORT IMPORT
Country of Origin : Syria
Legal Form : Limited Liability Partnership
Registration Date : 1952
Commercial Registration Number : 1197, Aleppo
Trade Licence Number : 8747
Issued Capital : SY Pnds 10,000,000
Paid Up Capital : SY Pnds 10,000,000
Total Workforce : 45
Line of Business : Manufacturers of plastic appliances.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
FALLAHA INDUSTRIAL & TRADING CO EXPORT IMPORT
ADDRESS
Registered & Physical Address
Location : Souika Street
PO Box : 6303 &
6312
Town : Aleppo
Country : Syria
Telephone : (963-21)
35623486
Facsimile : (963-21)
3621650
Mobile : (963-94)
4249907
Email : fallahaco@net.sy
Premises
Subject operates from a medium sized suite of offices that are rented and
located in the Central Business Area of Aleppo.
Branch Office (s)
Location Description
· Airport Road Owned
factory premises
Aleppo
Tel:
(963-21) 4210210 / 4210211
KEY PRINCIPALS
· Riad Ibn Mohamed
Fadel Fallah Managing
Partner
· Najdat Ibn Mohamed
Fadel Fallah Partner
· Mohamed Fadel
Fallah Partner
LEGAL FORM & OWNERS
Date of
Establishment : 1952
Legal Form : Sharikat Tadhamun
Bill Asshum (Limited Liability Partnership)
Commercial Reg.
No. : 1197, Aleppo
Trade Licence No. : 8747
Issued Capital : SY Pnds
10,000,000
Paid Up Capital : SY Pnds 10,000,000
Name of Partner (s)
· Riad Ibn Mohamed
Fadel Fallah
· Najdat Ibn Mohamed
Fadel Fallah
· Mohamed Fadel
Fallah
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 plastic appliances.
Import Countries : China, India and Europe.
Subject has a workforce of 45 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Syria are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
·
Commercial Bank of Syria
Kastel Hajjarin Street
Aleppo
Tel : (963-21) 4239601
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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 company is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 100,000
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%)