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MIRA
INFORM REPORT
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Report Date : |
17.05.2007 |
IDENTIFICATION DETAILS
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Name : |
LEBANESE COMPANY
FOR SANITARY EQUIPMENTS SARL (LCS) |
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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 : |
20th October 2004 |
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Com. Reg. No.: |
2004596, Baabda |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the
import, distribution and installation of sanitary ware 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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : LEBANESE COMPANY FOR SANITARY EQUIPMENTS SARL (LCS)
Country of Origin :
Legal Form : Limited Liability Company
Registration Date : 20th October 2004
Commercial Registration Number : 2004596, Baabda
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
Total Workforce : 10
Line of Business : Distributors and installers of sanitary ware products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
LEBANESE COMPANY
FOR SANITARY EQUIPMENTS SARL (LCS)
ADDRESS
Registered & Physical Address
Building :
Street :
Area : Bauchrieh
PO Box : 90091
Town :
Country :
Telephone : (961-1) 244661 / 715101 / 886161
Facsimile : (961-1) 241447
Email : lcs@lcslb.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Beirut.
KEY PRINCIPALS
Name Nationality Position
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Beshara
Elias Lebanese Managing Director
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Saeed
Mallas Syrian Director
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Wesamco
Brussli - Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 20th
October 2004
Legal Form :
Societe A’ Responsibilite
Limitee - SARL (Limited
Liability
Company)
Commercial Reg. No. : 2004596,
Baabda
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
Name of Shareholder
(s) Percentage
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Beshara
Elias 51%
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Saeed
Mallas 49%
Note to the Legal Form
The formation of a Limited Liability Company requires a minimum capital of LP 5,000,000. The company must have at least 3 shareholders of any nationality. If the number of shareholders in the company exceeds thirty, the company must change its registration to a Joint Stock Company within two years or else dissolve. A Limited Liability Company may not engage in any activities involving insurance, savings, banking, capital investments and air transport.
The Limited Liability Company must register with the Commercial Register in the district where it is located, as well as with the Patent Office of the Ministry of National Economy and Commerce.
LINE OF BUSINESS
Operations : Engaged in the import, distribution and
installation of sanitary ware products.
Import Countries
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International
Suppliers :
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Techno
Pipe & Fitting
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Pollini
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Sielo
Operating Trend
: Steady
Subject has a
workforce of 10 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 3,150,000,000 LP 3,400,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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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, distribution and installation of
sanitary ware products.
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
company is considered to be a fair trade risk and the above credit figure is
deemed to be within subject’s financial means.
Maximum suggested
credit figure: US$ 100,000
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%)