MIRA INFORM REPORT

 

 

Report Date :           

06.06.2011

 

IDENTIFICATION DETAILS

 

Name :

ABDUL SALAM AL CHAWAF & CO

 

 

Registered Office :

Industrial Area, P O Box 334, Hama

 

 

Country :

Syria

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

03.10.1993

 

 

Com. Reg. No.:

13144, Hama

 

 

Legal Form :

Limited Liability Partnership

 

 

Line of Business :

Production of general detergents and cleaning products

 

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 :

US$ 500,000

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 – 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

SUMMARY

 

Company Name                                     : ABDUL SALAM AL CHAWAF & CO     

Also Known As                                      : AL AFRAH FOR DETERGENTS

Country of Origin                                    : Syria

Legal Form                                            : Limited Liability Partnership

Start Date                                             : 1951

Registration Date                                   : 3rd October 1993

Commercial Registration Number            : 13144, Hama

Issued Capital                                        : SY Pnds 3,500,000

Paid up Capital                                      : SY Pnds 3,500,000

Total Workforce                                     : 250

Activities                                               : Production of general detergents and cleaning products

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 500,000

Person Interviewed                                 : Mostafa Abdul Salam Mostafa Al Chawaf, General Manager

COMPANY NAME

 

ABDUL SALAM AL CHAWAF & CO

 

 

ALSO KNOWN AS

 

AL AFRAH FOR DETERGENTS

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Industrial Area

PO Box             : 334

Town                 : Hama

Country             : Syria

Telephone         : (963-33) 2414840 / 2414810

Facsimile          : (963-33) 2414810

Mobile               : (963-99) 3113977 / 3113979

Email                : malnumer@scs-net.org / afrahco@scs-net.org

 

Premises

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Hama.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Al Wani Building                                                                               Rented showroom premises

Marabet Street

Hama

     Tel: (963-33) 2234939 / 2221517 / 2510517 / 2510511

     Fax: (963-33) 2511560

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Abdul Salam Mostafa Al Chawaf                                                         Managing Partner

 

·       Raja Chikh Al Najarin                                                             Partner

 

·       Mostafa Abdul Salam Mostafa Al Chawaf                                            General Manager

 

·       Shadi Abdul Salam Mostafa Al Chawaf                                                Assistant General Manager

 

·       Bara Al Boshi                                                                                   Finance Manager

 

·       Mulham Barazi                                                                                  Marketing Manager

 

·       Mazen Al Badawi                                                                              Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1951, however it was registered on 3rd October 1993

 

Legal Form                  : Limited Liability Partnership

 

Commercial Reg. No.  : 13144, Hama

 

Issued Capital              : SY Pnds 3,500,000

 

Paid up Capital            : SY Pnds 3,500,000

 

Name of Shareholder (s)

 

·       Abdul Salam Mostafa Al Chawaf

 

·       Raja Chikh Al Najarin

 

 

AFFILIATED COMPANIES

 

·       Al Chawaf Chemical & Trading Co

Marabet Street

PO Box: 334

Hama

Tel: (963-33) 221517 / 510517

Fax: (963-33) 511560

 

·       Raja Chikh Al Najarin

PO Box: 334

Hama

Tel: (963-33) 221517 / 510517

Fax: (963-33) 511560

CR No. 19785

 

 

OPERATIONS

 

Activities: Engaged in the production of general detergents, cleaning products, washing liquids, softeners, bleaches, foaming and non-foaming detergents.

 

Subject is ISO 9001:2008 accredited.

 

Import Countries: United States of America, Tunisia, India, France, Spain and the United Kingdom

 

Export Countries: Lebanon, Jordan, Tunisia and CIS countries

 

Brand Names: ALAFRAH, AFNAN & QUEEN

 

Operating Trend: Steady

 

Subject has a workforce of approximately 250 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Syrian Pounds (SY Pnds)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                SY Pnds 318,000,000                SY Pnds 324,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures were confirmed by Mr Mostafa Abdul Salam Mostafa Al Chawaf, General Manager

 

 

BANKERS

 

·       Commercial Bank of Syria

Main Branch

Hama

Tel: (963-33) 510919

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

 

GENERAL COMMENTS

 

Established in 1951, subject is owned and managed by Mr Abdul Salam Mostafa Al Chawaf and Mr Raja Chikh Al Najarin who are both well respected in the local business community.

 

According to local sources, subject’s financial position is described as fair, its payments are made in a timely manner and it is considered trustworthy for respecting its financial commitments and is therefore deemed a sound trade risk.

Bottom of Form

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.85

UK Pound

1

Rs.73.29

Euro

1

Rs.64.89

 

 

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.