MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALF CENTER |
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Registered Office : |
Al Salhyeh Area, Arnous, P O Box – 10921, Damascus, |
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Country : |
Syria |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
58013, Damascus |
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Legal Form : |
Mouassasa Khassa (Sole Proprietorship) |
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Line of Business : |
Import and Distribution of General Foodstuff Products, Specialising in
Tea |
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 :
ALF CENTER
Country of Origin :
Syria
Legal Form :
Sole Proprietorship
Registration Date :
1988
Commercial Registration Number :
58013, Damascus
Invested Capital :
SY Pnds 1,000,000
Total Workforce :
5
Line of Business :
Distributors of general foodstuff products.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
ALF CENTER
ADDRESS
Registered & Physical Address
Location : Al Salhyeh
Area, Arnous
PO Box : 10921
Town : Damascus
Country : Syria
Telephone : (963-11)
3330338
Facsimile : (963-11)
3320405
Mobile : (963-93)
3220097
Email : a-zein@net.sy
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Damascus.
KEY PRINCIPALS
Ahmed Al Zein Daoud Proprietor
& General Manager
Bassim Al Zein Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1988
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Commercial Reg. No. : 58013, Damascus
Invested Capital : SY Pnds 1,000,000
Mr Ahmed Al Zein Daoud 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 general
foodstuff products, specialising in tea.
Import Countries : Europe and GCC countries.
Operating Trend : Steady
Subject has a workforce of 5 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 51,600,000 SY
Pnds 57,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Societe Generale Cyprus Ltd
PO Box : 25400
Nicosia
Cyprus
Tel : (357-22) 399777
Fax : (357-22) 399700
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1988, subject is owned and managed by Mr Ahmed Al Zein
Daoud who is well respected in the local business community.
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 business 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%)