MIRA
INFORM REPORT
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Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
AL KANATER SAL |
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Registered Office : |
Toni Abou Naoum Building, Mkalles Main Road, Industrial Area, PO Box 69, Mkalles |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1977 |
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Com. Reg. No.: |
64732, Baabda |
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Legal Form : |
Lebanese Joint
Stock Company |
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Line of Business : |
Import and
Distribution of 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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AL KANATER SAL
Country of Origin : Lebanon
Legal Form :
Lebanese Joint Stock Company
Registration Date : 1977
Commercial
Registration Number : 64732,
Baabda
Issued Capital : LP
30,000,000
Paid up Capital : LP
30,000,000
Total Workforce : 35
Activities :
Import and distribution of general foodstuff products
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 200,000
COMPANY NAME
AL KANATER SAL
ADDRESS
Registered & Physical Address
Building : Toni Abou
Naoum Building
Street : Mkalles Main
Road
Area : Industrial
Area
PO Box : 69
Town : Mkalles
Country : Lebanon
Telephone : (961-1) 687880
/ 687881 / 687882
Facsimile : (961-1) 687883
Email : info@al-kanater.com
Premises
Subject operates from a small suite of offices and a warehouse that are
owned and located in the Industrial Area of Mkalles.
KEY PRINCIPALS
Name Position
· Toni E Abou Naoum Managing
Director
· Mrs Marleine Abou
Naoum Director
· Eddy T Abou Naoum Director
LEGAL FORM & OWNERS
Date of
Establishment : 1977
Legal Form : Lebanese Joint
Stock Company
Commercial Reg.
No. : 64732, Baabda
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Name of Shareholder (s)
· Toni E Abou Naoum
· Mrs Marleine Abou
Naoum
· Eddy T Abou Naoum
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff products,
including tahina, loukoum, sesame
seeds, Halva and Turkish delight.
Import Countries: Sudan
Export Countries: United
States of America, Canada, France, United Kingdom, Germany, Spain, Australia,
United Arab Emirates, Qatar and Bahrain.
Operating Trend: Steady
Subject has a workforce of 35 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Lebanese Pounds (LP)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales LP
3,500,000,000 LP
3,915,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Banque de la Mediterranee SAL
PO Box : 11348
Beirut
Tel : (961-1) 866925
Fax : (961-1) 866925
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 general foodstuff products, including tahina, loukoum and sesame seeds,
Halva and Turkish delight.
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.
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. |
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%)