MIRA
INFORM REPORT
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Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
TISKA SAL |
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Registered Office : |
Skaff Building,
Ground Floor, Main Road, Mkalles, PO Box 1135256, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment: |
1993 |
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Com. Reg. No.: |
45959, Baabda |
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Legal Form : |
Lebanese Joint
Stock Company |
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Line of Business : |
Import, Distribution
and Retail of household soft furnishing materials, textiles, fabrics,
upholstery materials, wooden furniture and wallpaper |
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$ 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : TISKA SAL
Country of Origin : Lebanon
Legal Form : Lebanese Joint Stock Company
Registration Date : 1993
Commercial Registration Number : 45959, Baabda
Issued Capital : LP 100,000,000
Paid up Capital : LP 100,000,000
Total Workforce : 32
Activities : Import, distribution and retail of household soft furnishing materials, textiles, fabrics, upholstery materials, wooden furniture and wallpaper
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 400,000
COMPANY NAME
TISKA SAL
ADDRESS
Registered & Physical Address
Building : Skaff Building, Ground Floor
Street : Main Road
Area : Mkalles
PO Box : 1135256
Town : Beirut
Country : Lebanon
Telephone : (961-1) 683019 / 683020 / 683021 /
683022 / 282009
Facsimile : (961-1) 683024 / 282054
Email : tiska@inco.com.lb
Premises
Subject operates from
a medium sized suite of offices, a warehouse and a showroom that are owned and
located in the Central Business Area of Beirut.
KEY PRINCIPALS
Name Position
·
Elie George
Skaff Managing
Director
·
Phillip George
Skaff Director
·
George George
Skaff Director
·
Tony George
Skaff Director
·
Claudia P.
Skaff Director
·
Ali Deeb Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1993
Legal Form :
Lebanese Joint Stock
Company
Commercial Reg. No. : 45959, Baabda
Issued Capital : LP 100,000,000
Paid up Capital : LP 100,000,000
Name of Shareholder (s)
·
Elie George
Skaff
·
Phillip George
Skaff
·
George George
Skaff
·
Tony George
Skaff
·
Claudia P.
Skaff
AFFILIATED COMPANIES
·
Georges Skaff
& Sons
Skaff Building
Main Road
Mkalles
PO Box : 1135256
Beirut
Tel : (961-1) 683019
Fax : (961-1) 683024
·
A l’Etage Sarl
Skaff
Building, First Floor
Main Road
Mkalles
PO Box : 1135256
Beirut
Tel : (961-1) 683020
Fax : (961-1) 683024
OPERATIONS
Activities: Engaged in the import, distribution and
retail of household soft furnishing materials, textiles, fabrics,
upholstery materials, wooden
furniture and wallpaper.
Import
Countries: Italy, Turkey,
the Czech Republic and the United States of America
International
Suppliers:
·
Master Craft
Inc United States of
America
·
Collin &
Aikman Inc United States of
America
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Velbar Spain
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Kolovrat Czech Republic
Operating Trend: Steady
Subject has a
workforce of 32 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 5,675,000,000 LP
5,900,000,000
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
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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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Banque Libano
Francaise Sal
PO Box : 11808
Beirut
Tel : (961-1) 200493 / 200490
Fax : (961-1) 200494 / 348845
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Byblos Bank
Sal
PO Box : 115605
Beirut
Tel : (961-1) 898200
Fax : (961-1) 898209
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
Date of
transaction February 2003 February 2005 January 2007
Credit amount 50,000 17,000 100,000
Amount overdue 0 0 0
Payment terms 60
days 30 days 60 days
Payment Method Letters
of Credit Letters of Credit Letters of Credit
Paying record No
Complaints No Complaints No Complaints
Currency US
Dollars Pounds
Sterling US Dollars
GENERAL COMMENTS
Tiska Sal has been
in business for approximately 15 years and is engaged in the import, distribution
and retail of household soft furnishing materials, textiles, fabrics,
upholstery materials, wooden furniture and wallpaper. The company is owned by
members of the Skaff family who are respected members of the business
community.
The company deals
with a number of international suppliers and no payment delays have been
uncovered. According to local informants, subject’s financial position is
satisfactory and it 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%)