MIRA
INFORM REPORT
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Report Date : |
29.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAWAF AND SAFAF |
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Registered Office : |
8
Azar Street, PO Box 77, Hama |
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Country : |
Syria |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
4868, Hama |
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Legal Form : |
General Partnership |
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Line of Business : |
Import, Wholesale and Retail 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$ 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 : SHAWAF AND SAFAF
Country of Origin : Syria
Legal Form : General Partnership
Registration Date : 1997
Commercial Registration Number : 4868, Hama
Partners Capital : SY Pnds 500,000
Total Workforce : 6
Activities : Import, wholesale and retail of general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
SHAWAF AND SAFAF
ADDRESS
Registered & Physical Address
Location : 8 Azar
Street
PO Box : 77
Town : Hama
Country : Syria
Telephone : (963-33) 510779
Facsimile : (963-33) 513947
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Hama.
KEY PRINCIPALS
Name Position
·
Abdulaziz
Al Shawaf Managing
Partner
·
Mona
Abdulaziz Al Shawaf Partner
LEGAL FORM & OWNERS
Date of Establishment : 1997
Legal Form :
General Partnership
Commercial Reg. No. : 4868, Hama
Partners Capital : SY Pnds 500,000
Name
of Partner (s)
·
Abdulaziz
Al Shawaf
·
Mona
Abdulaziz Al Shawaf
OPERATIONS
Activities: Engaged in the import,
wholesale and retail of general foodstuff.
Import
Countries: India
International
Suppliers:
·
Shah
Brother Calcutta,
India
·
Shifnaz New Delhi,
India
Operating Trend: Steady
Subject has a
workforce of 6 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
37,500,000 SY Pnds
40,000,000
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
Branch No. 1
Hama
Tel: (963-33) 510918 / 510917
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 business
is considered to be 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.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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%)