MIRA INFORM REPORT
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Report Date : |
22.02.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
MOHAMMAD HAMZEH AL JABBAN TRADING EST |
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Registered Office : |
Al Batrikia Building,
Medhat Basha Street, Souq Al Bezoria, P O Box 26068, Damascus |
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Country : |
Syria |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
01.01.1997 |
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Com. Reg. No.: |
68365, Damascus |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of general foodstuff products |
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No. of Employees
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18 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 30,000 |
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Status : |
Satisfactory |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Syria |
c1 |
C1 |
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Risk Category |
ECGC
Classification |
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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 : MOHAMMAD HAMZEH AL JABBAN TRADING EST
Also Known As : AL SHALAAN
Country of Origin : Syria
Legal Form : Sole Proprietorship
Registration Date : 1st January 1997
Commercial Registration Number : 68365, Damascus
Membership Number : 38211
Invested Capital : SY Pnds 3,500,000
Total Workforce : 18
Activities : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 30,000
Person Interviewed : Ibrahim Al Rubahani, Public Relations Manager
MOHAMMAD HAMZEH AL
JABBAN TRADING EST
AL SHALAAN
Registered &
Physical Address
Building : Al Batrikia Building
Street : Medhat Basha Street
Area : Souq Al Bezoria
PO Box : 26068
Town : Damascus
Country : Syria
Telephone : (963-11) 2250306 / 2248660 / 2237292
Facsimile : (963-11) 2211540
Mobile : (963-933) 2153308
Email : jabban.tr@mail.sy / jabban@aloola.sy
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Damascus.
Branch Offices
Location Description
·
Airport Road Warehouse
premises
Akraba Area
Damascus
Tel: (963-11)
6413241
Name Position
·
Mohammad
Hamzeh Bin Mohamed Bashir Al Jabban
Proprietor & General Manager
·
Ibrahim Al Rubahani Public
Relations Manager
·
Khalid Al Furkani Sales
Manager
Date of Establishment : 1st
January 1997
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 68365,
Damascus
Membership No. : 38211
Invested Capital
: SY Pnds 3,500,000
Mr Mohammad Hamzeh
Bin Mohamed Bashir Al Jabban is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuff products, including fruit, dried foods and rice.
Import
Countries: Europe and the
Far East
Brand Names: Al SHALAAN, ABU KASA and AL MAMLAKAH
Operating Trend: Steady
Subject has a
workforce of 18 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
64,100,000 SY Pnds
66,000,000
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
Al Nasr Street
PO Box: 314
Damascus
Tel: (963-11) 2210444
·
Bank of
Syria and Overseas
PO Box: 3103
Harika
Damascus
Tel: (963-11) 2460560
Fax: (963-11) 2460555
No complaints
regarding subject’s payments have been reported.
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
business is considered to be a fair trade risk.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.08 |
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UK Pound |
1 |
Rs.77.79 |
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Euro |
1 |
Rs.65.17 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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<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.