MIRA
INFORM REPORT
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Report Date : |
24th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
BOUTIQUE DU MONDE SAL |
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Registered Office : |
Sleep
Comfort Building, Al Rehbane Street, Khodr Sector, PO Box: 175350, Beirut,
Lebanon |
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Country : |
Lebanon |
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Date of Incorporation : |
1984 |
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Com. Reg. No.: |
49205, Beirut |
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Legal Form : |
Societe
Anonyme Libanaise - SAL (Lebanese Joint Stock Company) |
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Line of Business : |
Importer
and Distributors of stoneware, glassware, pottery,
electrical products and household goods. |
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$
200,000 |
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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 |
BOUTIQUE DU MONDE 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 |
1984 |
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Commercial Registration Number |
49205, Beirut |
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Issued Capital |
LP 950,000,000 |
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Paid up Capital |
LP 950,000,000 |
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Total Workforce |
30 |
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Line of Business |
Distributors of stoneware, glassware, pottery, electrical products and household goods. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
BOUTIQUE
DU MONDE SAL
ADDRESS
Registered & Physical Address
Building : Sleep Comfort Building
Street : Al Rehbane Street
Area : Khodr Sector
PO Box : 175350
Town : Beirut
Country : Lebanon
Telephone : (961-1) 585830
Facsimile : (961-1) 585831
Mobile : (961-3) 585830
Premises
Subject
operates from a small suite of offices that are owned and located in the
Central Business Area of Beirut.
Branch Offices
Subject
has branch offices located in Jbeil, Kfarhbab, Tripoli, Zahle and Zghorta.
KEY PRINCIPALS
·
Gloria
Khazen Managing
Director
·
Abdo
J Ayoub Director
·
Walid
C Al Khazen Director
LEGAL FORM & OWNERS
Date of Establishment : 1984
Legal
Form : Societe Anonyme Libanaise - SAL (Lebanese Joint Stock Company)
Commercial Reg. No. : 49205, Beirut
Issued
Capital : LP 950,000,000
Paid
up Capital : LP
950,000,000
Name of Shareholder (s)
·
Gloria
Khazen
·
Abdo
J Ayoub
·
Walid
C Al Khazen
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 stoneware, glassware, pottery, electrical products and household goods.
Import Countries : Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 30 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
4,500,000,000 LP
4,900,000,000
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 1984, subject is involved in the import and distribution of stoneware,
glassware, pottery, electrical products and household goods.
Local
sources report that payment obligations are met in a generally timely manner
and the operating history is clear. As such the company is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: US$ 200,000
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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