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Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
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Name : |
ABOUDAN CORPORATION |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1975 |
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Com. Reg. No.: |
65561 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the import and distribution of general foodstuff products,
including coffee, tea, rice and edible oils. |
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No of Employees : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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.
SYRIA - ECONOMIC OVERVIEW
Despite modest economic
growth and reform prior to the outbreak of unrest, Syria's economy continues to
deteriorate amid the ongoing conflict that began in 2011. The economy further
contracted in 2013 because of international sanctions, widespread
infrastructure damage, reduced domestic consumption and production, and sharply
rising inflation. The government has struggled to address the effects of
economic decline, which include dwindling foreign exchange reserves, rising
budget and trade deficits, and the decreasing value of the Syrian pound. The
ongoing conflict and economic decline have created a humanitarian crisis,
prompting widespread need for international aid. Prior to the unrest, Damascus
began liberalizing economic policies, including cutting lending interest rates,
opening private banks, consolidating multiple exchange rates, raising prices on
some subsidized items, and establishing the Damascus Stock Exchange. The
economy remains highly regulated by the government. Long-run economic
constraints include foreign trade barriers, declining oil production, high
unemployment, rising budget deficits, increasing pressure on water supplies
caused by heavy use in agriculture, rapid population growth, industrial
expansion, and water pollution.
|
Source
: CIA |
Company Name :
ABOUDAN CORPORATION
Country of Origin :
Syria
Legal Form :
General Partnership
Registration Date :
1975
Commercial Registration Number :
65561, Aleppo
Partners Capital :
SY Pnds 1,500,000
Total Workforce :
8
Activities :
Distributors of general foodstuff products
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
ABOUDAN CORPORATION
Registered &
Physical Address
Location : Bab Al Faraj
Street
Town : Aleppo
Country : Syria
Telephone : (963-21)
2261350
Facsimile : (963-21)
2261350
Email : abodanco@scs.net.org
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Aleppo.
Name Position
Kamel Sultan Aboudan Managing
Partner
Mohamed Sultan Aboudan Partner
Date of Establishment : 1975
Legal Form : General
Partnership
Commercial Reg. No. : 65561, Aleppo
Partners Capital : SY Pnds 1,500,000
Name of Partner (s)
Kamel Sultan Aboudan
Mohamed Sultan Aboudan
Activities: Engaged in the import and distribution of general foodstuff products,
including coffee, tea, rice and edible oils.
Import Countries: Europe, India and Sri Lanka.
Brand Names: CEYLON
Subject has a workforce of 8 employees.
Companies registered in Syria are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
Commercial Bank of Syria
Branch No. 1
Aleppo
Tel: (963-21) 3315610
No complaints regarding subject’s payments have been reported.
Please note that we were unable to contact the subject directly during
our investigation.
Please note that the correct name of the subject is “Aboudan
Corporation” and not “Abodan Co (Kamel Abodan)”.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
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|
1 |
Rs.96.83 |
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Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.