MIRA
INFORM REPORT
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Report Date : |
15th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
NABIL CHEAIB JEWELLERY COLLECTION SARL |
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Registered Office : |
Saint Georges Center, Ground Floor General Fouad Chehab Street, Horge Tabet Area, Sin El Fil 90077, 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 : |
2000 |
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Com. Reg. No.: |
68437, Baabda |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of jewellery, precious
stones and watches. |
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$ 300,000 |
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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 |
NABIL CHEAIB JEWELLERY COLLECTION SARL |
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Country of Origin |
Lebanon |
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Legal Form |
Limited Liability Company |
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Registration Date |
2000 |
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Commercial Registration Number |
68437, Baabda |
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Issued Capital |
LP 5,000,000 |
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Paid up Capital |
LP 5,000,000 |
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Total Workforce |
30 |
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Line of Business |
Distributors of jewellery, precious stones and watches. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
NABIL CHEAIB JEWELLERY COLLECTION SARL
ADDRESS
Registered & Physical Address
Building : Saint Georges Center, Ground Floor
Street : General Fouad Chehab Street
Area : Horge Tabet Area, Sin El Fil
PO Box : 90077
Town : Beirut
Country : Lebanon
Telephone : (961-1) 484444 / 481222
Facsimile : (961-1) 499222
Premises
Subject operates from a small suite of offices and a showroom that are owned and located in the Central Business Area of Beirut.
Branch Office (s)
Location Description
General Charles de Gaulle Avenue Showroom premises
Sin El Fil
Beirut
Barbar Abou Jaoudeh Street Showroom premises
Beirut
Gold Land Center Office and showroom premises
Gold Souk
Dubai
United Arab Emirates
KEY PRINCIPALS
Nabil G Cheaib Managing Director
Bassam G Cheaib Director
Michel G Abi Abdallah General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2000
Legal Form : Societe A’ Responsibilite Limitee - SARL (Limited Liability Company)
Commercial Reg. No. : 68437, Baabda
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
Name of Shareholder (s)
Nabil G Cheaib
Bassam G Cheaib
Note to the Legal Form
The formation of a Limited Liability Company requires a minimum capital of LP 5,000,000. The company must have at least 3 shareholders of any nationality. If the number of shareholders in the company exceeds thirty, the company must change its registration to a Joint Stock Company within two years or else dissolve. A Limited Liability Company may not engage in any activities involving insurance, savings, banking, capital investments and air transport.
The Limited Liability Company must register with the Commercial Register in the district where it is located, as well as with the Patent Office of the Ministry of National Economy and Commerce.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of jewellery, precious stones and watches.
Subject also provides fashion design
services.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 30 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 5,100,000,000 LP 5,500,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Standard Chartered Bank Sal
Hoss Building
Hamra Street
PO Box : 118940 & 70216
Beirut
Tel : (961-4) 514824 / 514826 / 415040
Fax : (961-4) 406861
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Established in 2000, subject is involved in the import and distribution of jewellery, precious stones and watches.
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 and the above credit figure is deemed to be within subject’s financial means.
Maximum suggested credit figure: US$ 300,000
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 |