MIRA
INFORM REPORT
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Report Date : |
4th
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN FOOD SAL |
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Registered Office : |
Abou Naoum Building, 1st Floor Street No. 10, Mkalles 55072, 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 : |
1986 |
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Com. Reg. No.: |
39455, Baabda |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Distributors of general 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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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
GOLDEN FOOD SAL |
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Country of Origin |
Lebanon |
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Legal Form |
Lebanese Joint Stock Company |
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Start Date |
1986 |
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Registration Date |
6th January 1992 |
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Commercial Registration Number |
39455, Baabda |
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Issued Capital |
LP 120,000,000 |
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Paid up Capital |
LP 120,000,000 |
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Total Workforce |
100 |
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Line of Business |
Distributors of general foodstuff 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
GOLDEN FOOD SAL
ADDRESS
Registered & Physical Address
Building : Abou Naoum Building, 1st Floor
Street : Street No. 10
Area : Mkalles
PO Box : 55072
Town : Beirut
Country : Lebanon
Telephone : (961-1) 685434 / 685435 / 685436
Facsimile : (961-1) 685437
Mobile : (961-3) 610071
Email : goldenf@inco.com.lb
Premises
Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Beirut.
Branch Office (s)
Location Description
Amioun Office and warehouse premises
Koura
Tel : (961-3) 606114
Ghazieh Office and warehouse premises
Saida
Tel : (961-7) 222167
KEY PRINCIPALS
Antoine Khalil Char Managing Director
Georges Abdo Barakat Director
Brigitte Barakat Director
Najwa Char Director
LEGAL FORM & OWNERS
Date of Establishment : Subject’s operations date back to 1986, however it was registered on 6th January 1992.
Legal Form : Societe Anonyme Libanaise - SAL (Lebanese Joint Stock Company)
Commercial Reg. No. : 39455, Baabda
Issued Capital : LP 120,000,000
Paid up Capital : LP 120,000,000
Name of Shareholder (s)
Antoine Khalil Char
Georges Abdo Barakat
Brigitte Barakat
Najwa Char
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 general foodstuff products, including
confectionery, chewing gum, pasta and
biscuits. Subject services approximately 6,000 points of sale every week.
Import Countries : Spain, Italy, Cyprus, Belgium, Netherlands, Greece, Turkey, France,
China and India.
Brand Names : CHUPPA CHUPS, MOVIE GUM, SEDRINCA, MITSIDES, MILDRED,
CANDELITE, LOTUS, BIMBO, SILUETA, SMINT,
SUPERMAX, SLIM 18, ERKO, and OLYMPIC.
Operating Trend : Steady
Subject has a workforce of 100 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 7,820,000,000 LP 8,190,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Societe Generale Libano Europeene de Banque Sal
PO Box : 112955
Beirut
Tel : (961-1) 499813 / 483001
Fax : (961-1) 200455
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1986, subject is involved in
the import and distribution of general foodstuff products, including
confectionery, chewing gum, pasta and biscuits under a number of universally
known brand names.
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.
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 |