MIRA
INFORM REPORT
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Report Date : |
2nd
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
JAT OFF-SHORE SAL |
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Registered Office : |
Jubaili Building, Maarouf Saad Boulevard 60, Saida, Lebanon |
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Country : |
Lebanon |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
2004 |
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Com. Reg. No.: |
1800761, Beirut |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Distributors of industrial chemicals. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 |
JAT OFF-SHORE 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 |
2004 |
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Commercial Registration Number |
1800761, Beirut |
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Issued Capital |
LP 30,000,000 |
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Paid up Capital |
LP 30,000,000 |
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Total Workforce |
18 |
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Line of Business |
Distributors of industrial chemicals. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
JAT OFF-SHORE SAL
ADDRESS
Registered & Physical Address
Building : Jubaili Building
Street : Maarouf Saad Boulevard
PO Box : 60
Town : Saida
Country : Lebanon
Telephone : (961-7) 729044 / 729045
Facsimile : (961-7) 722973
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Beirut.
KEY PRINCIPALS
Lara A Jubaili Managing Director
Ramzi M R Jubaili Director
Maher M R Jubaili Director
Abdellatif M R Jubaili Director
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form : Societe Anonyme Libanaise - SAL (Lebanese Joint Stock Company)
Commercial Reg. No. : 1800761, Beirut
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Name of Shareholder (s)
Miss Lara A Jubaili
Ramzi M R Jubaili
Maher M R Jubaili
Abdellatif M R Jubaili
Note to the Legal Form
A Joint Stock Company may be formed with a minimum capital of LP 30,000,000, twenty-five percent of which must be fully paid and it must have at least three founding members. The majority of the Board, which can have between 3-12 members, must be Lebanese. The company’s head office must be in Lebanon and a foreign-national chairman can only hold office if he has a work permit (this rule does not apply to chairmen of banks, and offshore or holding companies, which are usually formed as joint stock companies.) As a general rule, the law does not set requirements on how much interest the Lebanese members of a joint stock company must own. However, if the object of the company is to trade in real estate in Lebanon, then fifty percent of the company’s capital must be owned by Lebanese nationals.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of industrial chemicals.
Import
Countries : Italy, United Kingdom, Japan and the
United States of America.
Operating Trend : Steady
Subject has a workforce of 18 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 8,750,000,000 LP 9,300,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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$ 100,000:
Established in 2004, subject is owned and managed by members of the Jubaili family who are well respected in the local business community.
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 business 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$ 150,000
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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