MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
TURK STATIONERY |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
15th March 1977 |
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Com. Reg. No.: |
35267, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of stationery items |
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
Company Name : TURK STATIONERY
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 15th March 1977
Commercial Registration Number :
35267,
Invested Capital : LP 240,000,000
Total Workforce : 22
Line of Business : Distributors of stationery items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
TURK STATIONERY
ADDRESS
Registered & Physical Address
Building : Mira Building, Ground Floor
Street : Mar Elias Street
Area : Moussaitbe
PO Box : 146241
Town :
Country : Lebanon
Telephone : (961-1) 310166
Facsimile : (961-1) 310188
Mobile : (961-3) 631400
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Beirut.
KEY PRINCIPALS
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Nabil
Ramez Turk Proprietor
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Wassim
Nabil Turk General
Manager
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Ramzi
Nabil Turk Commercial Manager
LEGAL FORM &
OWNERS
Date of Establishment : 15th
March 1977
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 35267, Beirut
Invested Capital
: LP 240,000,000
Mr Nabil Ramez Turk
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 import and distribution of
stationery items, including paper, envelopes, pens, computer labels and school
requisites.
Import Countries
: France, Germany and the
United Kingdom.
Brand Names : TRILUX, HERAKLES, CONCORDE, AMBASSADOR, LA
COURONNE, BLOPENS, MASTER CARTE, VELVET ART, FIXION, SAVEBAG, LINER 212 and
HOVAT.
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
31/12/05: Year
Ending 31/12/06:
Total Revenue LP 5,750,000,000 LP
5,800,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Fransabank
Sal
PO Box : 110393
Beirut
Tel : (961-1) 340180 / 354573
Fax : (961-1) 354572
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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
Established in
1977, subject is involved in the import and distribution of stationery items,
including paper, envelopes, pens, computer labels and school requisites.
During the course
of this investigation nothing detrimental was uncovered regarding subject’s
operating history or the manner in which payments are fulfilled. As such the
business is considered to be a fair trade risk.
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)