MIRA
INFORM REPORT
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Report Date : |
27th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MAGIC
CARPET |
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Registered Office : |
Cecil
Messara Building, Horge Tabet Street, Sin El Fil, El Metn, PO Box: 167204,
Beirut, Lebanon. |
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Country : |
Lebanon |
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Date of Incorporation : |
05.05.1998 |
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Com. Reg. No.: |
136690, Baabda |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Engaged
in the wholesale and retail of carpets and moquettes. |
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$
125,000 |
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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 |
MAGIC CARPET |
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Country
of Origin |
Lebanon |
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Legal
Form |
Sole Proprietorship |
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Registration
Date |
5th May 1998 |
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Commercial
Registration Number |
136690, Baabda |
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Invested
Capital |
LP 5,000,000 |
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Total
Workforce |
8 |
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Line
of Business |
Wholesalers and retailers of carpets and moquettes. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
MAGIC
CARPET
ADDRESS
Registered & Physical Address
Building : Cecil Messara Building
Street : Horge Tabet Street
Area : Sin El Fil, El Metn
PO Box : 167204
Town : Beirut
Country : Lebanon
Telephone : (961-1) 485841 / 485842 / 483283
Facsimile : (961-1) 485840
Mobile : (961-3) 848833
Email : cecilmessara@terra.net.lb
Premises
Subject
operates from a small suite of offices and a showroom that are owned and
located in the Central Business Area of Beirut.
KEY PRINCIPALS
· Cecil John Messara Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 5th May 1998
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 136690, Baabda
Invested
Capital : LP 5,000,000
Mr Cecil
John Messara is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations
: Engaged in the
wholesale and retail of carpets and moquettes.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 8 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 3,460,000,000 LP
3,550,000,000
Local
sources consider subject’s financial condition to be Fair.
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:
Established
in 1998, subject is owned and managed by Mr Cecil John Messara who is well
respected in the local business community.
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$ 125,000
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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