MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AHMAD ALBEIK |
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Registered Office : |
Battrak Building,
1st Floor, Office No. 105, Souq Medhat, Mazenet Al Shahem Area,
Damascus |
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Country : |
Syria |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1993 |
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Com. Reg. No.: |
44618, Damascus |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of General Foodstuff Products |
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 : AHMAD ALBEIK
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 1993
Commercial Registration Number : 44618, Damascus
Chamber Membership Number : 34650
Invested Capital : SY Pnds 3,500,000
Total Workforce : 15
Activities : Wholesale and retail of general foodstuff products
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
AHMAD ALBEIK
ADDRESS
Registered & Physical Address
Building : Battrak Building, 1st
Floor, Office No. 105
Street : Souq Medhat
Area : Mazenet Al Shahem Area
Town : Damascus
Country : Syria
Telephone : (963-11) 2230660 / 2323430
Facsimile : (963-11) 2323430
Premises
Subject operates from
a medium sized suite of offices that are rented and located in the Central
Business Area of Damascus.
KEY PRINCIPALS
Name Position
·
Ahmad Bin
Hassan Albeik Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1993
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 44618,
Damascus
Chamber Member No. : 34650
Invested Capital
: SY Pnds 3,500,000
Mr Ahmad Bin Hassan
Albeik is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
general foodstuff products, including tea, rice, lentils and edible oils.
Import
Countries: Europe and the
Far East
Operating Trend: Steady
Subject has a
workforce of 15 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
37,600,000 SY Pnds
41,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Bank of Syria
& Overseas
Al Harika Branch
Damascus
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Ahmad Albeik has been
in business since 1993 and had made steady progress in the local market
specialising in the wholesale and retail of general foodstuff products,
including tea, rice, edible oils and canned foods.
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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)