MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADNAN AL OLABI BIN AHMAD |
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Registered Office : |
Al
Bab Area, Al Reef, Aleppo |
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Country : |
Syria |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
13.04.2006 |
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Com. Reg. No.: |
72680, Aleppo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of
General Foodstuff |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ADNAN AL OLABI BIN AHMAD
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 13th April 2006
Commercial Registration Number : 72680, Aleppo
Chamber Membership Number : 6190
Invested Capital : SY Pnds 5,000,000
Total Workforce : 3
Activities : Import and distribution of general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 200,000
COMPANY NAME
ADNAN AL OLABI BIN
AHMAD
ADDRESS
Registered & Physical Address
Location : Al Bab
Area, Al Reef
Town : Aleppo
Country : Syria
Telephone : (963-21) 7831218
Facsimile : (963-21) 7842218
Mobile : (963-93) 3310685
Email : adnan.olabi@aleppo.sy
Premises
Subject operates
from a small suite of offices, a warehouse and a showroom that are rented and located
in the Central Business Area of Aleppo.
KEY PRINCIPALS
Name Nationality Position
·
Adnan
Al Olabi Bin Ahmad Syrian Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 13th
April 2006
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 72680, Aleppo
Chamber Member No. : 6190
Invested Capital
: SY Pnds 5,000,000
Mr Adnan Al Olabi Bin Ahmad is the sole proprietor of
the business.
OPERATIONS
Activities: Engaged in the import
and distribution of general foodstuff, specialising in sugar, rice and
agriculture
crops.
Import
Countries: India, Sri Lanka
and Europe
Subject has a
workforce of 3 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Syrian
Pounds (SY Pnds)
Year
Ending 31/12/07:
Total Sales SY
Pnds 356,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Adnan Al Olabi Bin
Ahmad, Proprietor.
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.
GENERAL COMMENTS
During the course of
this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is 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.43.34 |
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UK Pound |
1 |
Rs.86.53 |
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Euro |
1 |
Rs.68.54 |
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%)