MIRA
INFORM REPORT
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Report Date : |
1st
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ADMIC SAL |
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Registered Office : |
BHV Complex Adnane Hakim Street Jnah Area, 166901 Beirut, Lebanon |
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Country : |
Lebanon |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
25th April 1996 |
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Com. Reg. No.: |
57630, Baabda |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Operators of a department store and
supermarket chain |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
ADMIC SAL |
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Country of Origin |
Lebanon |
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Legal Form |
Lebanese Joint Stock Company |
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Registration Date |
25th April 1996 |
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Commercial Registration Number |
57630, Baabda |
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Issued Capital |
LP 23,250,000,000 |
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Paid up Capital |
LP 23,250,000,000 |
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Total Workforce |
85 |
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Line of Business |
Operators of a department store and supermarket chain. |
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Financial Condition |
Good |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
ADMIC SAL
ADDRESS
Registered & Physical Address
Building : BHV Complex
Street : Adnane Hakim Street
Area : Jnah Area
PO Box : 166901
Town : Beirut
Country : Lebanon
Telephone : (961-1) 858590 / 858591 / 858596
Facsimile : (961-3) 474700 / 858599
Mobile : (961-3) 474747
Email : admic@dm.net.lb
Premises
Subject operates from a medium size suite of offices and a department store that are owned and located in the Central Business Area of Beirut.
Branch Office (s)
Location Description
Ashrafieh Rented supermarket premises
Beirut
Tel: (961-5) 955200
Fax: (961-5) 955202
Email: joycekouyoumjian@admic.com.lb
14 Dora Boulevard Rented supermarket premises
Beirut
Tel : (961-1) 889602
Fax : (961-1) 889605
Dbayyeh Rented supermarket premises
KEY PRINCIPALS
Michel G. Abchee Managing Director
Gabriel G. Abchee Director
Francois A. Abchee Director
Georges A. Abchee Director
Bachir H. Malass Director
Marwan M. Jaroudi Director
Tarek Saleh Director
LEGAL FORM & OWNERS
Date of Establishment : 25th April 1996
Legal Form : Societe Anonyme Libanaise - SAL (Lebanese Joint Stock Company)
Commercial Reg. No. : 57630, Baabda
Issued Capital : LP 23,250,000,000
Paid up Capital : LP 23,250,000,000
Name of Shareholder (s)
Michel G. Abchee
Gabriel G. Abchee
Francois A. Abchee
Georges A. Abchee
Bachir H. Malass
Marwan M. Jaroudi
Tarek Saleh
AFFILIATED COMPANIES
Ghana Holding Sal
Weavers Center, 13th Floor
Clemenceau Street
Beirut
Tel : (961-1) 374084
Fax : (961-1) 374085
AMI Sal
BHV Complex
Adnane Hakim Street
Jnah Area, Opposite Cite Sportive Camille Chamoun
PO Box : 166901
Beirut
Tel : (961-1) 858590
Fax : (961-1) 474700
Lebanon Invest Sal
Gefinor Center, 11th Floor
Clemenceau Street
PO Box : 1136633
Beirut
Tel : (961-1) 340812
Fax : (961-1) 340813
Societe Assurex Sal
Fattal Building
Ecochard Street
PO Box : 117358
Beirut
Tel : (961-1) 492049
Fax : (961-1) 494232
LINE OF BUSINESS
Operations : Operators of a department store and a chain of supermarkets, specialising in the wholesale
and retail of household appliances,
furniture, jewellery, clothing, toys, ironmongery, stationery, sporting
equipment and general foodstuff products. Subject also operates a restaurant.
Import Countries : Italy, France, Spain and Germany.
Brand Names : BHV, MONOPRIX, HIPPOPOTAMUS and CASINO GEANT.
Operating Trend : Steady
Subject has a workforce of 85 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Lebanese Pounds (LP)
Year Ending 31/12/04: Year Ending 31/12/05:
Total Revenue LP 15,200,000,000 LP 16,630,000,000
Local sources consider subject’s financial condition to be Good.
BANKERS
Banque de la Mediterranee Sal
PO Box : 11348
Beirut
Tel : (961-1) 866925
Fax : (961-1) 866925
Banque Audi Sal
Ashrafieh Branch
PO Box : 112560
Beirut
Tel : (961-1) 200250 / 200251
Fax : (961-1) 200955
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Admic Sal owns and operates a department store and supermarket chain that specialise in the wholesale and retail of household appliances, furniture, jewellery, clothing, toys, ironmongery, stationery, sporting equipment and general foodstuff products.
During the course of this investigation nothing detrimental was uncovered regarding the manner in which payment obligations are fulfilled. The operating history is clear and the financial situation is satisfactory. As such we are of the opinion that the subject is a fair trade risk and the above credit figure is within subject’s financial means.
Maximum suggested credit figure: US$ 500,000
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 |
Unfavourable & favourable factors carry
similar weight in credit consideration. Capability to overcome financial
difficulties seems comparatively below average/normal. |
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 |