MIRA
INFORM REPORT
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Report Date : |
23rd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
B B GENERAL TRADING AND CONSTRUCTION |
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Registered Office : |
Rasamni
Building, 3rd Floor, Apt 36, Hamra, PO Box: 145137, Beirut,
Lebanon. |
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Country : |
Lebanon |
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Date of Incorporation : |
21.11.2006 |
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Com. Reg. No.: |
1003651 |
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Legal Form : |
Sharikat
Tadhamun (General Partnership) |
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Line of Business : |
Engaged
in the import and distribution of general merchandise, including building
materials, ready made garments and general foodstuff products. |
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$
35,000 |
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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 |
B B GENERAL TRADING AND CONSTRUCTION |
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Country
of Origin |
Lebanon |
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Legal
Form |
General Partnership |
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Registration
Date |
21st November 2006 |
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Commercial
Registration Number |
1003651 |
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Partners
Capital |
LP 1,000,000 |
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Total
Workforce |
5 |
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Line
of Business |
Distributors of general merchandise. |
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Financial
Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
B B
GENERAL TRADING AND CONSTRUCTION
ADDRESS
Registered & Physical Address
Building : Rasamni Building, 3rd
Floor, Apt 36
Area : Hamra
PO Box : 145137
Town : Beirut
Country : Lebanon
Telephone : (961-1) 801220 / 801225
Facsimile : (961-1) 808492
Email : bbgeneralsales@mail.com
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Beirut.
KEY PRINCIPALS
· Bayan Basama Managing
Partner
· Mohamed Asim Al Masry Partner
LEGAL FORM & OWNERS
Date of Establishment : 21st November 2006
Legal Form : Sharikat Tadhamun (General Partnership)
Commercial Reg. No. : 1003651
Partners
Capital : LP 1,000,000
Name of Partner (s)
· Bayan Basama
· Mohamed Asim Al Masry
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
AFFILIATED COMPANIES
· Mayss Offshore Sal
Talat Al Khayat
PO Box : 145137
Beirut
Tel :
(961-1) 805508 / 805492
Fax
: (961-1) 801225
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of general merchandise, including building materials,
ready made garments and general foodstuff products.
Import
Countries :
Europe and the Far East.
Subject
has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
·
Byblos
Bank
Byblos Tower Building
Elias Sarkis Avenue
Ashrafieh
PO Box : 115605
Beirut
Tel :
(961-1) 335200
Fax :
(961-1) 339436
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000:
Investigations
undertaken in Beirut did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: US$ 35,000
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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