MIRA
INFORM REPORT
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Report Date : |
4th
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
VEGA INDUSTRIES SARL |
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Registered Office : |
Vega
Building, Said Sour Street, Main Road, Ghazieh Saida, Lebanon |
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Country : |
Lebanon |
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Financial : |
31/12/2004 |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
10003 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the production of cakes, pastries, croissants, biscuits, savoury snacks and chips |
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$ 350,000 |
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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 |
VEGA
INDUSTRIES SARL |
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Also Known As |
VEGA COMPANY FOR FOOD INDUSTRY SARL |
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Country
of Origin |
Lebanon |
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Legal
Form |
Limited
Liability Company |
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Registration
Date |
1991 |
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Commercial
Registration Number |
10003,
Saida |
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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 |
75 |
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Line
of Business |
Producers
of cakes, pastries, biscuits and savoury snacks |
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Financial
Condition |
Fair |
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Payments |
Nothing
detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
VEGA
INDUSTRIES SARL
ALSO
KNOWN AS : VEGA
COMPANY FOR FOOD INDUSTRY SARL
ADDRESS
Registered
& Physical Address
Building : Vega Building
Street : Said Sour Street, Main Road
Area : Ghazieh
Town : Saida
Country : Lebanon
Telephone : (961-7) 221876 / 222447
Facsimile : (961-7) 221874
Mobile : (961-3) 207325
Email : vegaco@terra.net.lb
Premises
Subject
operates from a medium sized suite of offices and a factory that are owned and
located in the Central Business Area of Saida.
KEY PRINCIPALS
Abbas
Mohamed Ali Ghaddar Managing
Director
Sami
Mohamed Ali Ghaddar Director
Ms Sonia
I Khalifeh Director
Mrs
Rawiya Khalifeh Ghaddar Director
Mohamed
Abdul Jalil Commercial
Manager
LEGAL FORM & OWNERS
Date
of Establishment : 1991
Legal
Form : Societe A’ Responsibilite Limitee
- SARL (Limited
Liability Company)
Commercial
Reg. No. : 10003, Saida
Issued
Capital : LP 5,000,000
Paid
up Capital : LP 5,000,000
Name
of Shareholder (s)
Abbas
Mohamed Ali Ghaddar
Sami
Mohamed Ali Ghaddar
Ms Sonia
I Khalifeh
Mrs
Rawiya Khalifeh Ghaddar
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.
AFFILIATED COMPANIES
Lebanese
Company for Food Industry Sarl
Said
Sour Street
Ghazieh
Saida
Tel: :
(961-7) 222447
LINE OF BUSINESS
Operations
: Engaged in the
production of cakes, pastries, croissants, biscuits, savoury snacks and chips.
Export
Countries :
Saudi Arabia, Iraq, Kuwait and Qatar.
Brand
Names : RINGO
and LORA.
Operating
Trend : Steady
Subject
has a workforce of 75 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Lebanese Pounds (LP)
Year
Ending 31/12/03: Year
Ending 31/12/04:
Total
Revenue LP 4,200,000,000 LP
5,180,000,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
Byblos
Bank Sal
Al
Zaatari & Dandashly Building
Riad El
Solh Street
Saida
Tel :
(961-7) 725709
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of
transaction March
2004
Credit
amount 150,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency Euros
GENERAL COMMENTS
Vega
Industries Sarl is engaged in the production of cakes, pastries, biscuits and
savoury snacks. The company is run in a professional manner and has been
trading for approximately 15 years with no problems reported regarding the
operating history.
Local
informants state that the payment obligations are fulfilled in a generally
timely manner and the financial situation is satisfactory. As such the company
is deemed for normal business relations.
Maximum
suggested credit figure: US$ 350,000
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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