MIRA INFORM REPORT

 

 

Report Date :           

13.09.2011

 

IDENTIFICATION DETAILS

 

Name :

GENERAL TRADE SERVICE CENTER (GTSC)

 

 

Registered Office :

 Al Arissi Street, Souq Al Hal Area, P O Box 771,  Homs

 

 

Country :

Syria

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

09.08.1992

 

 

Com. Reg. No.:

2693, Homs

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Wholesale and retail of spices, herbs, pulses and dried foods

 

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$ 200,000

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                         : GENERAL TRADE SERVICE CENTER (GTSC)

Also Known As                                      : GENERAL TRADE SPICE CENTER

Country of Origin                                    : Syria

Legal Form                                            : General Partnership

Start Date                                             : 1986

Registration Date                                   : 9th August 1992

Commercial Registration Number            : 2693, Homs

Chamber Membership Number                : 1926

Partners Capital                                     : SY Pnds 10,000,000

Total Workforce                                     : 14

Activities                                               : Wholesale and retail of spices, herbs, pulses and dried foods

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

Recommended Credit Limit                     : US$ 200,000

 

 

 

 

COMPANY NAME

 

GENERAL TRADE SERVICE CENTER (GTSC)

 

 

ALSO KNOWN AS

 

GENERAL TRADE SPICE CENTER

 

 

company ADDRESS

 

Registered & Physical Address

Street               : Al Arissi Street

Area                 : Souq Al Hal Area

PO Box             : 771

Town                 : Homs

Country             : Syria

Telephone         : (963-31) 2488060 / 2488061 / 2488062 / 2481112

Facsimile          : (963-31) 2481133

Email                : info@gtscrj.com / gtscrj@scs-net.org

 

Premises

Subject operates from a suite of offices and a showroom, covering 400 square metres that are rented and located in the Central Business Area of Homs.

 

Branch Offices

Subject has branches located in Damascus, Hama, Aleppo, Al Bab, Al Hasaka, Lattakia, Tartous, Maarrat Alnuman and Ter Maali.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Maan Rifai Jandali                                                                             Managing Partner

 

·       Mohamed Ali Maan Rifai Al Jandali                                                     Partner

 

·       Mohamed Mufleh Al Jandali                                                                Partner

 

·       Diana Rifai Jandali                                                                 Finance Manager

 

·       Hikmat Abou Jaib                                                                              Shipping Manager

 

·       Daad Houssini                                                                                  Marketing Manager

 

·       Gazwan Beak                                                                                   Quality Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1986, however it was registered on 9th August 1992

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 2693, Homs

 

Chamber Member No. : 1926

 

Partners Capital           : SY Pnds 10,000,000

 

Name of Partner (s)

 

·       Maan Rifai Jandali

 

·       Mohamed Ali Maan Rifai Al Jandali

 

·       Mohamed Mufleh Al Jandali

 

 

AFFILIATED COMPANIES

 

·       Al Bahr Al Mutawasit Co

Homs

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of spices, herbs, pulses and dried foods, including sesame seeds,

                 wheat, hibiscus, cumin, anis, almonds, nigella seeds, beans, lentils and caraway seeds.

 

Import Countries: Europe and the Far East

 

Operating Trend: Steady

 

Subject has a workforce of 14 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 131,500,000                SY Pnds 135,000,000

 

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

Hesham Ibn Abed Al Malek Street

Homs

Tel: (963-31) 225214

Fax: (963-31) 223300

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              January 2009

Credit amount                                        120,920

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Canadian Dollars

 

 

GENERAL COMMENTS

 

Established in 1986, subject is involved in the import and distribution of spices, herbs, pulses and dried foods.

 

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the company is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.46.97

UK Pound

1

Rs.74.22

Euro

1

Rs.63.66

 

 

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.