MIRA INFORM REPORT
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Report Date : |
4th May 2006 |
IDENTIFICATION DETAILS
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Name : |
MARDINI
LEATHER TRADE SARL |
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Registered Office : |
Mardini Center, Block P,
Ground Floor Sin El Fil Jdeideh Boulevard, 1165139 & 901953 Beirut,
Lebanon |
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Date of Incorporation : |
29th
May 1996 |
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Com. Reg. No.: |
57874,
Baabda |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Distributors
of leather products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
MARDINI LEATHER TRADE SARL |
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Country of Origin |
Lebanon |
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Legal Form |
Limited Liability Company |
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Registration Date |
29th May 1996 |
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Commercial Registration Number |
57874, 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 |
10 |
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Line of Business |
Distributors of leather products. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
MARDINI LEATHER TRADE SARL
ADDRESS
Registered & Physical Address
Building : Mardini Center, Block P, Ground Floor
Street : Sin El Fil Jdeideh Boulevard
PO Box : 1165139 & 901953
Town : Beirut
Country : Lebanon
Telephone : (961-1) 487728 / 487731 / 491111
Facsimile : (961-1) 487735
Email : mardini@inco.com.lb
Premises
Subject operates from a small suite of offices and a showroom that are owned and located in the Central Business Area of Beirut.
KEY PRINCIPALS
Antoine N Mardini Managing Director
Houda Mardini Director
Fadi A Mardini Director
LEGAL FORM & OWNERS
Date of Establishment : 29th May 1996
Legal Form : Societe A’ Responsibilite Limitee - SARL (Limited
Liability Company)
Commercial Reg. No. : 57874, Baabda
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
Name of Shareholder (s)
Antoine N Mardini
Houda Mardini
Fadi A Mardini
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 leather products, including footwear and luggage.
Import Countries : Italy, France and Germany.
Brand Names : APC and RESINTEX.
Operating Trend : Steady
Subject has a workforce of 10 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 2,800,000,000 LP 3,050,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Arab Bank Plc
PO Box : 111015
Beirut
Tel : (961-1) 370122 / 370155 / 862860
Fax : (961-1) 868130 / 602408
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 15,000,000:
Established in 1996, subject is owned and managed by members of the Mardini family who are well respected in the local business community.
According to local sources subject is making steady progress in the local business market and nothing detrimental has been reported regarding the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.
The above credit figure is higher than transactions previously seen and a measure of caution would be prudent.
Maximum suggested credit figure: US$ 150,000
RATING EXPLANATIONS
RATING
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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 |