MIRA
INFORM REPORT
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Report Date : |
14th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
THE
SONS OF FAYSAL HAMDOUN SARL |
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Registered Office : |
Al Haj
Mehdi Centre, Abdullah Avenue, PO Box : 119185, Beirut, Lebanon |
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Country : |
Lebanon |
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Date of Incorporation : |
02.06.2000 |
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Legal Form : |
Societe A’ Responsibilite Limitee - SARL (Limited Liability Company) |
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Line of Business : |
Importer and Distributors of joinery and carpentry products, blacksmiths equipment, spray paints, adhesives, ladders, air compressors, bitumen emulsion swimming pool equipment, lamps and 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 |
THE SONS OF FAYSAL HAMDOUN SARL |
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Country of Origin |
Lebanon |
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Legal Form |
Limited Liability Company |
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Registration Date |
2nd June 2000 |
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Commercial Registration Number |
67742, 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 |
22 |
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Line of Business |
Distributors of joinery and carpentry products, paints, chemicals and swimming pool equipment. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
THE SONS
OF FAYSAL HAMDOUN SARL
ADDRESS
Registered & Physical Address
Building : Al Haj Mehdi Centre
Street : Abdullah Avenue
PO Box : 119185
Town : Beirut
Country : Lebanon
Telephone : (961-1) 554253 / 542358
Facsimile : (961-1) 542358 / 647337
Mobile : (961-3) 628209 / 852434 /
626306
Email : hamdoun@hamdoun.com
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Beirut.
Branch Office (s)
Location Description
·
Wafic
Zein El Din Building Rented
warehouse premises
Jamous Street
Kafaat Area
Beirut
Tel: (961-3) 222053
KEY PRINCIPALS
·
Ghassan
Faysal Hamdoun Managing
Director
·
Wissam
Faysal Hamdoun Director
·
Rabee
Faysal Hamdoun Director
·
Ahmad
Ramal Financial
Controller
LEGAL FORM & OWNERS
Date of Establishment : 2nd June 2000
Legal Form : Societe A’ Responsibilite Limitee - SARL (Limited Liability Company)
Commercial Reg. No. : 67742, Baabda
Issued
Capital : LP 5,000,000
Paid
up Capital : LP 5,000,000
Name of Shareholders
·
Ghassan
Faysal Hamdoun
·
Wissam
Faysal Hamdoun
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Rabee
Faysal Hamdoun
Note to the Legal Form
The formation of a Limited Liability Company requires a minimum capital of LL 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
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Hamdoun
International Tools
Al Haj Mehdi Centre
Abdullah Avenue
PO Box : 119185
Beirut
Tel : (961-1) 554253
Fax : (961-1) 542358
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Leader
Shipping Co
Al Haj Mehdi Centre
Abdullah Avenue
PO Box : 119185
Beirut
Tel : (961-1) 554253
Fax : (961-1) 542358
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Hotech
Co
Al Haj Mehdi Centre
Abdullah Avenue
PO Box : 119185
Beirut
Tel : (961-1) 554253
Fax : (961-1) 647337
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Diya
Paints
Al Haj Mehdi Centre
Abdullah Avenue
PO Box : 119185
Beirut
Tel : (961-1) 554253
Fax : (961-1) 542358
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Ital
Aqua Co Sarl
Dedeyan Centre, Ground Floor
Dora Boulevard
Bauchrieh
Tel :
(961-1) 243214
Mob :
(961-3) 626306
Fax :
(961-1) 243214
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of joinery and carpentry products, blacksmiths
equipment, spray paints, adhesives, ladders, air compressors, bitumen emulsion
swimming pool equipment, lamps and chemicals.
Import
Countries :
France, Germany, Italy, India, China and Taiwan.
International
Suppliers :
·
Muller
Outils SA France
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Cavallo Italy
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Diya
Spray Italy
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Sveden Italy
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Melizi Italy
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Pecard Germany
Operating
Trend : Steady
Subject
has a workforce of 22 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
2,250,000,000 LP
2,610,000,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Byblos
Bank Sal
PO Box : 115605
Beirut
Tel :
(961-1) 898200
Fax :
(961-1) 898209
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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.
Date of
transaction November
2005
Credit
amount 50,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency Euros
GENERAL COMMENTS
The Sons
of Faysal Hamdoun Sarl commenced operations in June 2000. It is engaged in the
import and distribution of joinery and carpentry products, blacksmiths
equipment, paints, swimming pool equipment, lamps and chemicals. The company
deals with several well-known international suppliers and has established a
good reputation for the quality of its products.
The company
is owned by members of the Hamdoun family who have interests in a number of
ventures located in Lebanon and are considered to be trustworthy for respecting
their trade commitments.
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 company is considered to be a fair trade
risk.
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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