MIRA INFORM REPORT

 

 

Report Date :

28.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

HALBAI AND CO

 

 

Registered Office :

Route Saida Zineb, Bibla Area, P O Box 47, Damascus

 

 

Country :

Syria

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

19.04.2004

 

 

Com. Reg. No.:

6499

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Import and distribution of marble, granite and stone

 

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 :

EUR 100,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Syria

c1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : HALBAI AND CO

Also Known As                                      : GOLDEN STONE

Country of Origin                                    : Syria

Legal Form                                            : General Partnership

Registration Date                                   : 19th April 2004

Commercial Registration Number            : 6499

Partner’s Capital                                    : SY Pnds 2,500,000

Total Workforce                                     : 8

Activities                                               : Import and distribution of marble, granite and stone

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : EUR 100,000

Person Interviewed                                 : Maher Hussain Al Halbai, Managing Partner

 

COMPANY NAME

 

HALBAI AND CO

 

 

ALSO KNOWN AS

 

GOLDEN STONE

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Route Saida Zineb

Area                 : Bibla Area

PO Box             : 47

Town                 : Damascus

Country             : Syria

Telephone         : (963-11) 6420443

Facsimile          : (963-11) 6420443

Mobile               : (963-92) 9292970

Email                : golden-maher@hotmail.com

 

Premises

Subject operates from a small suite of offices and a warehouse that are rented and located in the Suburban Business Area of Damascus.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Maher Hussain Al Halbai                                                                    Managing Partner

 

·       Nahed Adnan Al Fayoumi                                                                  Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th April 2004

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 6499

 

Partner’s Capital          : SY Pnds 2,500,000

 

Name of Partner (s)

 

·       Maher Hussain Al Halbai

 

·       Nahed Adnan Al Fayoumi

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of marble, granite and stone.

 

Import Countries: Italy, Spain, Tunisia and India

 

International Suppliers:

 

·       Samocer                  Tunisia

·       Socer                       Tunisia

·       Gaya Force              Spain

 

Operating Trend: Steady

 

Subject has a workforce of 8 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Syrian Pounds (SY Pnds)

 

                                                Year Ending 31/12/08:                Year Ending 31/12/09:

 

Total Sales                                SY Pnds 41,200,000                  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

 

·       Commercial Bank of Syria

Mouawia Street

PO Box 2231

Damascus

Tel: (963-11) 2225870

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.57

UK Pound

1

Rs.72.50

Euro

1

Rs.62.46

 

 

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

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

 

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%)

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.