MIRA
INFORM REPORT
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Report Date : |
21st
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
ETS WAFIC IDRISS SARL |
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Registered Office : |
Idriss Building, Ground Floor, Omar Ben Abdelaziz Street, Hamra Sector 111580, 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 : |
1936 |
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Com. Reg. No.: |
38398, Beirut |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the business of distribution
and packaging of foodstuff products. |
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 |
ETS WAFIC IDRISS SARL |
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Country of Origin |
Lebanon |
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Legal Form |
Limited Liability Company |
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Date Established |
1936 |
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Registration Date |
26th April 1978 |
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Commercial Registration Number |
38398, Beirut |
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Issued Capital |
LP 100,000,000 |
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Paid up Capital |
LP 100,000,000 |
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Total Workforce |
55 |
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Line of Business |
Distribution and packaging of foodstuff products. |
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Financial Condition |
Good |
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Payments |
Prompt |
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Operating Trend |
Steady |
COMPANY NAME
ETS WAFIC IDRISS SARL
ADDRESS
Registered & Physical Address
Building : Idriss Building, Ground Floor
Street : Omar Ben Abdelaziz Street
Area : Hamra Sector
PO Box : 111580
Town : Beirut
Country : Lebanon
Telephone : (961-1) 351388 / 340130 / 342249
Facsimile : (961-1) 351389
Mobile : (961-3) 860600
Email : widriss@beirut.com
Premises
Subject operates from a medium sized suite of offices and a warehouse that are owned and located in the Suburban Business Area of Beirut.
Branch Office (s)
Location Description
82 Karam Street Warehouse & distribution depot
Hazmieh
Beirut 1107-2090
Tel : (961-5) 950820 / 950821 / 950824 / 950825
Fax : (961-5) 456230
Sourati Street Warehouse & distribution depot
Hamra
Beirut
Tel: (961-1) 343104
Fax: (961-1) 346218
Tripoli Warehouse & distribution depot
KEY PRINCIPALS
Maher C. Idriss Managing Director
Samir W. Idriss Director
Mosbeh Idriss Director
Rabah Idriss Director
Charbel Abdel Massih General Manager
Nebil Shehab Production Manager
Elham Hadad Administration Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s activities date back 1936, however it was registered on 26th April
1978.
Legal Form : Societe A’ Responsibilite Limitee - SARL (Limited Liability Company)
Commercial Reg. No. : 38398, Beirut
Issued Capital : LP 100,000,000
Paid up Capital : LP 100,000,000
Name of Shareholder (s)
Widriss Holding Co Sal
Lions Building, 3rd Floor
Maamari Street
PO Box : 11-1580
Beirut
Tel : (961-1) 343141
Fax : (961-1) 346218
Maher C. Idriss
Samir W. Idriss
Mosbeh Idriss
Rabah Idriss
AFFILIATED COMPANIES
Foodcom Marketing Co Sarl
Karam Street
PO Box : 11-1580
Hazmieh
Tel : (961-5) 950820
Fax : (961-5) 450134
Tripak Food Industries Sal
Lions Building, 1st Floor
Maamari Street
PO Box : 13-5161
Beirut
Tel : (961-1) 352259 / 738547
Fax : (961-1) 738549
Email: tripak@cyberia.net.lb
Conserves Modernes Chtaura Sal
Main Road
Kab Elias
Area
PO Box:
128
Chtaura
Tel:
(961-8) 540080 / 540082
Fax:
(961-8) 540211
Email: cmc@dm.net.lb
Targeter (UK) Ltd
Venice Center
Foch Street
Beirut
Tel: (961-1) 983547/8
Fax: (961-1) 983546
Email: sales@targeter.net
Nordex Food AS
Blytaekkervej 6
Dronninglund 9330
Denmark
Tel : (45) 96471500
Fax : (45) 96471511
Widriss SA
Athens
Greece
LINE OF BUSINESS
Operations : Engaged in the distribution of the following foodstuff products - meat, poultry, fish and dairy
products, confectionery, spices and herbs. The company also offers food packaging and processing services for canned and bottled fruit and vegetables, shellfish, condiments, fruit juices and carbonated soft drinks.
Subject is also involved in food packaging
and freezing as well as cold storage warehouse facilities.
Import Countries : Brazil, Denmark, the Netherlands, South Africa, Argentina,
Thailand, Spain, Italy, Morocco and
the United States of America.
Brand Names : LURPAK, TARGET, GROOT, SADIA, PESCANOVA, HUNTER, ST. PIERRE, MORNING
GLORY, ROCKINGHAM, WAMPLER, GHIGI’S, LUTECE, D’AUCY, POCO LOGO and
FALCON.
Operating Trend : Steady
Subject has a workforce of approximately 55 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 4,800,000,000 LP 6,110,000,000
Local sources consider subject’s financial condition to be Good.
BANKERS
Banque Libano Francaise Sal
PO Box : 11808
Beirut
Tel : (961-1) 200493 / 200490
Fax : (961-1) 200494 / 348845
Banque de la Mediterranee Sal
PO Box : 11348
Beirut
Tel : (961-1) 866925
Fax : (961-1) 866925
Byblos Bank Sal
PO Box : 115605
Beirut
Tel : (961-1) 898200
Fax : (961-1) 898209
Credit Libanais Sal
Charles Malek Avenue
Ashrafieh
PO Box : 166729
Beirut
Tel : (961-1) 200028 / 201292 / 508716
Fax : (961-1) 602615
PAYMENT HISTORY
Subject’s payment record is reported to be met in a generally prompt manner.
GENERAL COMMENTS
Opinion on the credit figure of US$ 150,000
Ets Wafic Idriss Sarl is very established in the local business community with operations dating back to 1936. The company specialises in the processing, packaging and distribution of foodstuff products.
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 admissible.
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 |