MIRA
INFORM REPORT
|
Report Date : |
24th
January, 2007 |
IDENTIFICATION DETAILS
|
Name : |
KABALAN INTERNATIONAL GROUP OFFSHORE |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
2004 |
|
|
|
|
Legal Form : |
Sharikat
Tadhamun (General Partnership) |
|
|
|
|
Line of Business : |
Engaged
in the import and distribution of general foodstuff products, gas and
oilfield equipment. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$
100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company
Name |
KABALAN INTERNATIONAL GROUP OFFSHORE |
|
Country
of Origin |
|
|
Legal
Form |
General Partnership |
|
Registration
Date |
2004 |
|
Partners
Capital |
LP 10,000,000 |
|
Total
Workforce |
6 |
|
Line
of Business |
Distributors of general foodstuff products, gas and oilfield equipment. |
|
Financial
Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating
Trend |
Steady |
COMPANY NAME
KABALAN
INTERNATIONAL GROUP OFFSHORE
ADDRESS
Registered & Physical Address
Building :
Street :
Area : Zahrani Ghazi
Town : Saida
Country :
Telephone : (961-7) 222200
Facsimile : (961-7) 220079
Email : expo@kablangroup.com
Premises
Subject
operates from a small suite of offices that are rented and located in the
Central Business Area of Saida.
KEY PRINCIPALS
·
Gameel Kabalan Managing
Partner
·
Fatima Laylaa Partner
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form : Sharikat Tadhamun (General Partnership)
Partners
Capital : LP 10,000,000
Name of Partner (s)
·
Gameel Kabalan
·
Fatima Laylaa
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.
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of general foodstuff products, gas and oilfield
equipment.
Export
Countries :
Operating
Trend : Steady
Subject
has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Lebanese Pounds (LP)
Year
Ending 31/12/05 :
Total
Revenue LP
2,800,000,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Lebanese Canadian Bank Sal
PO Box : 11252
Tel :
(961-1) 880000
Fax :
(961-1) 898396
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000:
Established
in 2004, subject is involved in the import and distribution of general
foodstuff products, gas and oilfield equipment.
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$ 100,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|