MIRA
INFORM REPORT
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Report Date : |
21.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ABDUL GANI AHMAD KAZZAZ |
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Registered Office : |
Seven Seas Area, Aleppo |
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Country : |
Syria |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
15.03.1966 |
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Com. Reg. No.: |
12394, Aleppo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of Foodstuffs and General Merchandise. |
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$ 375,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ABDUL GANI AHMAD KAZZAZ
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 15th March 1966
Commercial Registration Number : 12394, Aleppo
Membership Number : 1649
Invested Capital : SY Pnds 2,500,000
Total Workforce : 17
Line of Business : Distributors of foodstuffs and general merchandise.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ABDUL GANI AHMAD KAZZAZ
ADDRESS
Registered & Physical Address
Location : Seven Seas
Area
Town : Aleppo
Country : Syria
Telephone : (963-21)
3637251 / 3635968
Facsimile : (963-21)
3635968
Premises
Subject operates from a small suite of offices and a warehouse that are
owned and located in the Central Business Area of Aleppo.
KEY PRINCIPALS
·
Abdul Gani Ahmad Kazzaz Proprietor
& General Manager
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Abu Al Khair Ali Assistant General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 15th
March 1966
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg.
No. : 12394, Aleppo
Membership No. : 1649
Invested Capital : SY Pnds 2,500,000
Mr Abdul Gani Ahmad Kazzaz is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines
Mouassasa Khassa as the business of an individual where liability for all debts
is unlimited. The business is the entire responsibility of its proprietor, who
is liable for all its debts to the extent of his entire wealth. There are no
legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
foodstuffs and general merchandise.
Import Countries : Europe and GCC countries.
Operating Trend : Steady
Subject has a workforce of 17 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Syrian Pounds (SY Pnds)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue SY
Pnds 51,780,000 SY
Pnds 55,250,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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Commercial Bank of Syria
Kastel Hajjarin Street
Aleppo
Tel : (963-21) 4239601
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction October
2005
Credit amount 370,000
Amount overdue 0
Payment terms 90 days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in 1966, subject is owned and managed by Mr Abdul Gani Ahmad
Kazzaz who is well respected in the local business community.
According to local sources, subject’s financial condition is
satisfactory whilst payments are made in a timely manner. The company’s
operating history is reportedly clear and the subject is deemed a sound trade
risk.
Maximum suggested credit figure: US$ 375,000
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%)