MIRA INFORM REPORT

 

 

Report Date :           

16.07.2011

 

IDENTIFICATION DETAILS

 

Name :

AYASH TRADING COMPANY

 

 

Registered Office :

Mamoun Street, Harika District, P.O.Box No.1568, Damascus

 

 

Country :

Syria

 

 

Year of Establishment :

1997

 

 

Com. Reg. No.:

12218

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Trading as importers and wholesalers of tents fabrics, texture and yarns

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

SYR PNDS 2,000,000

Status :

Small Company 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Syria

c1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

COmpany NAME 

 

Ayash Trading Company

 

 

company ADDRESS

 

Street               : Mamoun Street

Area                 : Harika District

P.O.Box No.      : 1568

Town                 : Damascus

Country             : Syria

Telephone         : (963 11) 221 0319 / 245 3230 / (Mobile) (963) 9421 2554

Fax                   : (963 11) 223 0662 / 231 1394

E-Mail               : ayashtradingco@mail.sy

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Shafik Ayash                         Managing Partner

 

2. Samir Ayash                          Partner

   (nephew of the above)

 

3. Nader Ayash                          Partner

   (brother of the above)

 

4. Nabil Ayash                           Partner

   (brother of the above)

 

5. Imed Ayash                           Partner

   (cousin of the above)

 

Total Employees : 5

 

 

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,

although it is normal accepted practice for international suppliers to deal on secured terms with Syrian importers.

 

Opinion on maximum credit : SYR PNDS 2,000,000

 

Trade risk assessment: Normal

 

 

PRINCIPAL BANKERS

 

NAME     : BANQUE BEMO SAUDI FRANSI

 

Branch   : Salhieh Area

P.O. Box :  31117

Town     : Damascus

 

Telephone: (963 11) 231 7778 / 447 3350

Fax      : (963 11) 231 8778

 

The company also has an account with the following banks:

 

1. Commercial Bank Of Syria

   Youssef Azmeh Square

   PO Box 933

   Damascus

   Telephone: (963 11) 221 8890 / 221 8891 / 222 2481

   Fax      : (963 11) 221 6975

 

2. Arab Bank

   Abu Rabani Building

   Mahdi Bin Barakah Street

   Abu Remanah Area

   PO Box 38

   Damascus 

   Telephone: (963 11) 334 8124 / 334 8125

   Fax      : (963 11) 334 9844

 

 

FINANCIAL INFORMATION

 

Private companies in Syria are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

 

Sales Turnover     : SYR PNDS 100,000,000 - 2010 - exact

 

Net Profit              : SYR PNDS   8,000,000 - 2010 - exact

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 1997

 

C.R. No. : 12218 (expiry date: 31/12/2011)

 

Capital : SYR PNDS 25,000,000

 

General Partnership with the following partners :

 

1. Shafik Ayash 

   (Syrian national)

 

2. Samir Ayash         

   (nephew of the above)

 

3. Nader Ayash        

   (brother of the above)

 

4. Nabil Ayash         

   (brother of the above)

 

5. Imed Ayash           

   (cousin of the above)

 

The exact shareholding percentage was not disclosed.

 

Affiliated companies of Ayash Trading Company  :

 

Associates

 

1. Shafik Ayash Est

   Harika

   PO Box 1586

   Damascus

   Syria

   Telephone: (963 11) 223 0662

   Fax      : (963 11) 595 2764

 

2. Pharmasyr

   Mara Sednaia-Adra Street

   PO Box 1586

   Damascus

   Telephone:  (963 11) 595 3665 / 441 1797

   Fax      :  (963 11) 595 2764

   E-Mail   :  info@pharmasyr.com

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers and wholesalers of tents fabrics, texture and

yarns.

 

NACE Code : 4641

 

Imports mainly from Bangladesh and India.

 

Exports mainly to Saudi Arabia.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented administrative offices located at the heading address as well as 2 warehousing facilities located elsewhere in Adra and Aakrout Areas in Damascus.

 

 

SPECIAL NOTE

 

Interviewed: Samir Ayash (Partner).       

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.53

UK Pound

1

Rs.71.91

Euro

1

Rs.62.98

 

 

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

----

NB

New Business

----

 

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.