MIRA INFORM
REPORT
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Report Date : |
26.04.2012 |
IDENTIFICATION DETAILS
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Name : |
MOHAMED ALI AL JABBAN |
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Registered Office : |
Building No. 1, 7th
Floor, Osman Ben Affan Street, Al Baramkeh, P O Box 11710, Damascus |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
16.04.1984 |
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Com. Reg. No.: |
50474 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distribution of fruit, vegetables and seeds |
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No. of Employees
: |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Syria |
c1 |
c1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company Name : MOHAMED ALI AL JABBAN
Trade Name : AL SAFA TRADING
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 16th April 1984
Commercial Registration Number : 50474
Chamber Membership Number : 14642
Invested Capital : SY Pnds 1,500,000
Total Workforce : 10
Activities : Distribution of fruit, vegetables and seeds.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
Person Interviewed : Hashem Mohamed Ali Hashem Al Jabban, Assistant General Manager
MOHAMED ALI AL
JABBAN
AL SAFA TRADING
Registered &
Physical Address
Building : Building No. 1, 7th Floor
Street : Osman Ben Affan Street
Area : Al Baramkeh
PO Box : 11710
Town : Damascus
Country : Syria
Telephone : (963-11) 2126725
Facsimile : (963-11) 2120007
Mobile : (963-944) 312252
Email : ifco@hotmail.com
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Damascus.
Name Position
·
Mohamed
Ali Hashem Al Jabban Proprietor
& General Manager
·
Hashem
Mohamed Ali Hashem Al Jabban Assistant
General Manager
Date of Establishment : 16th
April 1984
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 50474
Chamber Member No. : 14642
Invested Capital
: SY Pnds 1,500,000
Mr Mohamed Ali Hashem
Al Jabban is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
fruit, vegetables and seeds.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 10 employees.
Financial
highlights provided by local sources are given below:
Currency: Syrian
Pounds (SY Pnds)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales SY Pnds
51,000,000 SY Pnds
56,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Commercial
Bank of Syria
Mouawia Street
PO Box: 2231
Damascus
Tel: (963-11) 2225870
No complaints regarding
subject’s payments have been reported.
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.
Protests in Syria started on 26th January 2011 and
were influenced by other protests in the region. Protesters have been calling
for political reforms and the reinstatement of civil rights, as well as an end
to the state of emergency which has been in place since 1963.
Since March 2011 demonstrations have taken place in
many cities across Syria. Thousands of protestors gathered in Al Hasakah, Aleppo, Damascus, Daraa, Deir Ez Zor
and Hama. After the
first day of the protests there were reports of approximately 3,000 arrests.
In Damascus, security forces broke into the Omayyad
Mosque and violently attacked protesters. Several people were injured, and
several others were arrested. In the southern city of Daraa, people chanted
against Rami Makhlouf, the cousin of the Syrian president.
The regime replied by sending helicopters and water cannons to confront the
protesters. At least three people were killed by security forces.
As a result of the protests, the Governor of Daraa
was fired, but this did not satisfy the protesters. Demonstrations increased
and on 24th March 2011, it was reported that more than a hundred had
been killed.
The entire Syrian cabinet was asked to resign by
the president. Adel Safar was named the new prime minister and his new
cabinet was sworn into office on 14th April 2011.
The cities of Baniyas and Homs have also fallen
under siege by government forces. Army tanks have begun heavy shelling of
residential areas.
On 18th May 2011, the United States
imposed sanctions on Syrian President Bashar
al-Assad and six other senior Syrian officials as a response to Syria's
bloody crackdown on political protests.
In June 2011 Syrian troops and Gunmen loyal to President Bashar al-Assad
arrested 70 people and set houses on fire after tanks entered a town near the
Turkish border. 19 people were shot dead in the assault.
There is also a growing sense in the region that the regime's days are numbered.
Turkey, one of Syria closest allies, has warned al-Assad that time is running
out and urged him to step down.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
|
UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.68.84 |
RATING EXPLANATIONS
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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 |
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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 |
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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 |
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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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.