MIRA
INFORM REPORT
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Report Date : |
21.10.2008 |
IDENTIFICATION DETAILS
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Name : |
RAMA TRADING |
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Registered Office : |
Al Salhiya Area, |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1979 |
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Com. Reg. No.: |
44067, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and Distribution of General Merchandise |
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 : RAMA TRADING
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1979
Commercial Registration Number : 44067,
Chamber Membership Number : 31063
Invested Capital : SY Pnds 500,000
Total Workforce : 5
Activities : Import and distribution of general merchandise
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
RAMA TRADING
ADDRESS
Registered & Physical Address
Location : Al Salhiya Area
PO Box : 5605
Town :
Country :
Telephone : (963-11) 4459443
Facsimile : (963-11) 4444834
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Damascus.
KEY PRINCIPALS
Name Position
·
Farooq Lutfallah Yazigi Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1979
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 44067,
Chamber Member No. : 31063
Invested Capital
: SY Pnds 500,000
Mr Farooq Lutfallah Yazigi
is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and distribution of
general merchandise.
Import
Countries:
Operating Trend: Steady
Subject has a
workforce of 5 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 41,500,000 SY
Pnds 44,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Banque Bemo Saudi Alfransi
26 Ayar
May Branch
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.48.83 |
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1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
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%)