MIRA
INFORM REPORT
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Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
KHALIL WARDE SAL |
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Registered Office : |
Geagea Building,
Ground Floor, Zalka Highway, Amaret Chalhoub, PO Box 1135332, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
27.11.1982 |
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Com. Reg. No.: |
45905, Beirut |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Distributors, Wholesalers and Retailers of drapery and
textiles, soft furnishings, cushions, carpets, wall coverings, curtains and
decorative household articles, as well as fabrics, linen tablecloths and
towels |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : KHALIL WARDE SAL
Country of Origin : Lebanon
Legal Form : Lebanese Joint Stock Company
Registration Date : 27th November 1982
Commercial Registration Number : 45905, Beirut
Issued Capital : LP 300,000,000
Paid up Capital : LP 300,000,000
Total Workforce : 150
Activities : Distributors, wholesalers and retailers of drapery and textiles, soft
furnishings, cushions, carpets, wall coverings, curtains and decorative
household articles, as well as fabrics, linen tablecloths and towels
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 750,000
COMPANY NAME
KHALIL WARDE SAL
ADDRESS
Registered & Physical Address
Building : Geagea Building, Ground Floor
Street : Zalka Highway
Area : Amaret Chalhoub
PO Box : 1135332
Town : Beirut
Country : Lebanon
Telephone : (961-1) 888279 / 888281 / 897725 /
875600-6
Facsimile : (961-1) 601573 / 875609
Mobile : (961-3) 605818
Email : warde@khalilwarde.com.lb
Premises
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are
rented and located in the Suburban Business Area of Beirut.
Branch Office
(s)
Location Description
·
Makdessi
Street Rented
showroom premises
Hamra
Beirut
Tel : (961-1) 350463 / 346055
/ 748400
·
Hazmieh Rented
showroom premises
Beirut
Tel : (961-5) 951903
·
El Helatie Rented
showroom premises
Saida
Tel : (961-7) 751177 / 751178
/ 751179
·
El Mina Rented
showroom premises
Tripoli
Tel : (961-6) 602070 / 614652
·
Ksara Rented
showroom premises
Zahle, Milart
Tel
: (961-8) 806855
Mob : (961-3) 211569
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Baaklin Rented
showroom premises
Mob : (961-3) 626039
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Dahr El Ain Rented
showroom premises
Koura
Tel : (961-6) 432054 / 431274
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Tyr Rented
showroom premises
Mob : (961-3) 321228
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Shmeisani Rented
showroom premises
PO Box : 9532
Amman
Jordan
Tel : (962-6) 5686012
KEY PRINCIPALS
Name Position
·
Gabriel Khalil
Warde Managing
Director
·
Mrs Nada
Pierre Khalil Warde Director
·
Andre Khalil
Warde Director
·
Mrs Emilie
Khalil Warde Director
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Paul G Warde Director
·
Mrs Hala Warde Director
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Georges Araman Finance
Manager
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Robert Warde Human
Resources Manager
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Samir Aoun Sales
Manager
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Samir Khoury Purchasing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 27th
November 1982
Legal Form :
Lebanese Joint Stock
Company
Commercial Reg. No. : 45905, Beirut
Issued Capital : LP 300,000,000
Paid up Capital : LP 300,000,000
Name of Shareholder (s)
·
Gabriel Khalil
Warde
·
Mrs Nada
Pierre Khalil Warde
·
Andre Khalil
Warde
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Mrs Emilie
Khalil Warde
·
Paul G Warde
·
Mrs Hala Warde
AFFILIATED COMPANIES
·
Khalil Warde
Est
Baydoun Building
Hamra Main Street
Hamra
PO Box : 1135332
Beirut
Tel : (961-1) 748400 / 748401
/ 748402
Fax : (961-1) 748403
Email : warde@dm.net.lb
Commercial Registration
Number: 1299
OPERATIONS
Activities: Distributors, wholesalers and retailers of
drapery and textiles, soft furnishings, cushions, carpets, wall
coverings, curtains and
decorative household articles, as well as fabrics, linen tablecloths and
towels.
Subject also offers fitting and installation services, as well
as interior designing.
Import
Countries: Italy, Spain,
France, the United Kingdom, Germany, Saudi Arabia, Morocco and Libya
International
Suppliers:
·
Riorna Spain
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Le Lievre France
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Tinte Unite Italy
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Colony Italy
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Sanderson United Kingdom
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Monkwell Co United Kingdom
Brand Names: RUBELLI, JIMMER & ROHDE, ETRO, MARCATO,
HESSLEIN, VOGHI, SURCANAP and NOBILIS
Operating Trend: Steady
Subject has a workforce
of approximately 150 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:
Total Sales LP 8,750,000,000 LP 9,100,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Banque
Nationale de Paris Intercontinentale
Main Branch
PO Box : 111608
Beirut
Tel : (961-1) 200600 / 333717 / 216140
Fax : (961-1) 200604
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Blom Bank Sal
PO Box: 111912
Beirut
Tel: (961-1) 346290 / 863830 / 371898
Fax: (961-1) 364133
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Bank of Beirut
and the Arab Countries Sal
Main Branch
PO Box : 111536
Beirut
Tel : (961-1) 867142 / 869835
Fax : (961-1) 869836
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Societe
Nouvelle de la Banque de Syrie et du Liban
Main Branch
PO Box : 11957
Beirut
Tel : (961-1) 402420
Fax : (961-1) 405563 / 404561
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction December 1998 May 1999 October 2007
Credit amount 5,936 200,000 125,000
Amount overdue 0 0 0
Payment terms 30
days 90 days 180 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints Still pending
Currency Pounds
Sterling US Dollars Euros
GENERAL COMMENTS
Subject is well
established in the local business community and is engaged in the distribution,
wholesale, retail of textiles, soft furnishings, carpets, wall coverings,
curtains and decorative household articles. Khalil Warde SAL are stockists of
well known brands and operate from 9 branches throughout Lebanon and one in
Jordan.
The company is
owned by members of the Khalil Warde family who have many years experience in
the textiles industry.
According to local
sources, subject’s financial position is described as healthy and profitable
with nothing detrimental uncovered regarding the manner in which payment
obligations are fulfilled. As such the company is considered to be a fair trade
risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.52 |
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UK Pound |
1 |
Rs.75.08 |
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Euro |
1 |
Rs.63.72 |
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%)