MIRA
INFORM REPORT
|
Report Date : |
13.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ZARZOUR CO |
|
|
|
|
Registered Office : |
Qatan Building, Bouzrieh, Dakakin Area, PO Box 1013, Damascus |
|
|
|
|
Country : |
Syria |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
1964 |
|
|
|
|
Com. Reg. No.: |
4235, Damascus |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Import, Packaging, Wholesale and Retail of General Foodstuff Products |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 250,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : ZARZOUR CO
Also Known As : ZARZOUR FOODSTUFF CO
Country of Origin : Syria
Legal Form :
Limited Liability Partnership
Start Date :
1964
Registration Date : 1999
Commercial
Registration Number : 4235,
Damascus
Issued Capital : SY
Pnds 5,000,000
Paid up Capital : SY Pnds
5,000,000
Total Workforce : 100
Activities :
Import, packaging, wholesale and retail of general foodstuff products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 250,000
COMPANY NAME
ZARZOUR CO
ALSO KNOWN AS
ZARZOUR FOODSTUFF CO
ADDRESS
Registered & Physical Address
Building : Qatan Building
Area : Bouzrieh,
Dakakin Area
PO Box : 1013
Town : Damascus
Country : Syria
Telephone : (963-11)
2236170
Facsimile : (963-11) 2459928
Mobile : (963-94) 4252527
Email : sales@zarzoursyria.com
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Central Business Area of Damascus.
Branch Office (s)
Location Description
· Sabinah
Area Rented
office & warehouse
Damascus
Tel:
(963-11) 8212476
Fax: (963-11) 8212479
KEY PRINCIPALS
Name Position
· Kamel Mohamed
Zarzour Managing
Partner
· Beshir Mohamed
Zarzour Partner
· Mohamed Zarzour Partner
· Tawfiq
Jazwati Finance
Manager
· Khairi
Khalifa Administration
Manager
LEGAL FORM & OWNERS
Date of
Establishment : Subject’s
operations date back to 1964, however it was registered in 1999
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 4235, Damascus
Issued Capital : SY Pnds 5,000,000
Paid up Capital : SY Pnds 5,000,000
Name of Shareholder (s)
· Kamel Mohamed
Zarzour
· Beshir Mohamed
Zarzour
· Mohamed Zarzour
AFFILIATED COMPANIES
· Al Beshir for
Trade & Industry
Bouzrieh,
Dakakin Area
PO Box:
1013
Damascus
Tel:
(963-11) 2217145 / 2236170
Fax: (963-11)
2249120
· Mohamed Zarzour
Est
Bouzrieh,
Dakakin Area
PO Box:
1013
Damascus
Tel:
(963-11) 2217145 / 2236170
Fax:
(963-11) 2249120
OPERATIONS
Activities: Engaged in the import, packaging, wholesale and retail of general
foodstuff, including tea and coffee,
sugar, rice, spices, herbs and tomato paste.
Import Countries: Brazil and Sri Lanka
Brand Names: ZARZOUR
Operating Trend: Steady
Subject has a workforce of approximately 100 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:
Sales SY
Pnds 156,000,000 SY Pnds
182,000,000
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
Yousef Azmeh Square
PO Box : 3655
Damascus
Tel : (963-11) 2225100
·
Bank of Syria & Overseas
Harika Branch
Damascus
Tel:
(963-11) 2460560
Fax:
(963-11) 2460555
·
Bank Audi Syria
Muhafaza Building
Youssef Azmeh
Square
Damascus
Tel: (963-11)
2388800
Fax: (963-11)
2248510
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Zarzour Co has been in business since 1964 and is well known in the
local business community. It specialises in the import, packaging, wholesale
and retail of general foodstuff products under the brand name of “Zarzour”.
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.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)