MIRA INFORM REPORT

 

 

Report Date :           

29.03.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

AL NAJJAR GROUP CO.

 

 

Registered Office :

Al Najjar Group Building, Deraa High Way, Ashrafeyat Sahnayah Area, P.O. Box 67 Sahnayah, Damascus

 

 

Country :

Syria

 

 

Year of Establishment :

1980

 

 

Com. Reg. No.:

168213

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Operators of a printing press

 

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 :

SYR PNDS 2,000,000

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 – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

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

 

Al Najjar Group Co. (Correct)

MOUTAZ BELLAH NAJJAR (Requested)

 

 

company ADDRESS

 

Building :           Al Najjar Group Building

Street   :           Deraa High Way

Area     :           Ashrafeyat Sahnayah Area

P.O. Box :         67 Sahnayah

Town     :           Damascus

Country  :          Syria

Telephone:        (963 11) 224 747 / 245 7474 / Mobile (963 94) 421 8124

(Moutaz Bellah Mohammed Al Najjar)

Fax      :            (963 11) 221 7286

E-mail   :           info@najjargrp.com

Website  :         www.najjargrp.com

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                                Position

 

1. Ghassan Al Najjar                              Managing Partner

 

2. Moutaz Bellah Mohammed Al Najjar   General Manager

 

3. Mohammed Adeeb Al Najjar                Financial Manager

 

Total Employees : 200

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers

or banks.

 

We consider it is acceptable to deal with subject for MEDIUM 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     :         COMMERCIAL BANK OF SYRIA

Branch   :          Main Branch

P.O. Box :         933

Town     :           Damascus

Telephone:        (963 11) 2218 890

 

The company also has an account with :

 

Banque Bemo Saudi Fransi

PO Box 31117

Damascus

Telephone: (963 11) 231 7778

Fax      : (963 11) 231 8778

 

 

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 70,000,000 – 2009 – exact

               : SYR PNDS 78,000,000 – 2010 – exact

               : SYR PNDS 85,000,000 – 2011 - projected

 

Net Profit           : SYR PNDS 18,000,000 – 2009 – exact

                        : SYR PNDS 22,000,000 – 2010 - exact

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started :    1980

 

C.R. No. :          168213

 

Capital : SY PNDS 90,000,000

General Partnership with the following partners :

 

                                                                        Percentage

 

1. Ghassan Al Najjar                              34%

   (Syrian national)

 

2. Moutaz Bellah Mohammed Al Najjar   33%

   (brother of the above)

 

3. Mohammed Adeeb Al Najjar               33%

   (brother of the above)

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Operators of a printing press.

 

Trading as distributors of commercial printing materials such as magazines and books. 

 

Subject also operates a packaging division.

 

Imports from India, South Korea, China and Germany.

 

Exports to France and Middle East countries.

 

 

FACILITIES

 

The Company has the following facilities :

 

Owned premises comprising administrative offices and a printing press with integrated storage facilities located at the heading address as well as one branch located elsewhere in Damascus (see Branch Office section below).

 

 

BRANCH OFFICES

 

Khalid Bin Al Waleed Street

City Centre Area

Damascus

 

SPECIAL NOTE

 

You enquired on: MOUTAZ BELLAH NAJJAR. Please note that this name applies to a General Manager of Al Najjar Group Co. Therefore we provided you a report on Al Najjar Group Co.

 

Interviewed: Moutaz Bellah Mohammed Al Najjar (General Manager).

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.78

UK Pound

1

Rs.71.64

Euro

1

Rs.62.96

 

 

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.