MIRA INFORM
REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
PARTCO WORLDWIDE |
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Registered Office : |
39 Francis Marash Street, 1st Floor, Baghdad Station, P.O. Box 5124, Aleppo |
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Country : |
Syria |
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Date of Incorporation : |
12.08.1990 |
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Legal Form : |
Proprietorship Concern |
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Line of Business : |
importers and distributors of auto spare parts |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
SYR PNDS 1,000,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Syria |
c1 |
c1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company
NAME
Partco Worldwide
Company
ADDRESS
Street : 39 Francis Marash Street, 1st Floor
Area : Baghdad Station
P.O. Box : 5124
Town : Aleppo
Country : Syria
Telephone : (963 21) 222 3827 / 228 8101 / Mobile (963 93) 326 7007 (Riyadh Halbawi)
Fax : (963 21) 221 3941
E-Mail : partcousa@yahoo.com / partcoww@scs-net.org / partcouse@hotmail.com
Website : www.partcoww.com
Trading Style : Partco Worldwide Inc.
SENIOR
COMPANY PERSONNEL
Name Position
1. Pierre Tinawi General Manager / Owner
2. Riyadh Halabawi Commercial Manager
Total Employees : 8
PAYMENTS
No complaints have been heard regarding payments from local suppliers
or banks.
We consider it is acceptable to deal with subject for SMALL
amounts, however in view of the
lack of financial information we recommend
international suppliers exercise a degree of caution.
Opinion on maximum credit : SYR PNDS 1,000,000
(higher amounts may be considered with
full fiscal disclosure)
Trade risk assessment: Above Average
It is normal accepted practice for international suppliers to deal on secured terms with Syrian importers.
* Due to current unstable political and economic situation in Syria, international suppliers are recommended to exercise a degree of caution where larger or protracted dealings are envisaged.
PRINCIPAL
BANKERS
NAME : COMMERCIAL BANK OF SYRIA
Branch : Kastel Hajjarin Street
PO Box : 887
Town : Aleppo
Telephone : (963 21) 331 5525 / 212 2904 (branch no. 2)
Fax : (963 21) 222 401
FINANCIAL
INFORMATION
Private companies in Syria are not required to publish or disclose balance sheets. Balance sheets are not available from other sources, and the subject interviewed declined to give any financial information, which the company regards as strictly confidential.
LEGAL
STATUS AND HISTORY
Date Started : 12 August 1990
Capital : not applicable
Proprietorship owned by Pierre Tinawi (Syrian national).
ACTIVITIES
The Company is involved in the following activities :
Trading as importers and distributors of auto spare parts.
Subject also is commission agents and companies representative.
Subject deals through the following products:
- Additives & Lubricants
- Brake Lining
- Gaskets
- Piston Rings
- Silicon
NACE Code : 4532
Imports China, Turkey, Germany, Italy and USA.
Subject does not export, all sales are local.
FACILITIES
The Company has the following facilities :
Rented premises comprising administrative offices and storage facilities located at the heading address, as well as a 2 branch office located in USA and Cyprus (see "Branch Offices" section below).
BRANCH
OFFICES
1. USA Branch
539 Middlefield Road
Redwood City
CA 94063
USA
Telephone : (1 650) 562 3200
Fax : (1 650) 562 3201
E-mail : partcousa@hotmail.com
2. Cyprus Branch
6 Themistocles Dervis Street
PO Box 1702
Nicosia
Cyprus
Telephone : (357 22) 677 804
Fax : (357 22) 677 071
E-mail : partcosyprus@hotmail.com
SPECIAL
NOTE
Interviewed: Pierre Tinawi (General Manager / Owner).
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.27 |
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|
1 |
Rs.7208 |
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Euro |
1 |
Rs.63.66 |
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 |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.