MIRA
INFORM REPORT
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Report Date : |
19.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN FOOD SAL |
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Registered Office : |
Abou Naoum Building, 1st Floor, Street No. 10, Mkalles, P O
Box : 55072, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1986, however it was registered on 6th January 1992 |
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Com. Reg. No.: |
39455, 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$ 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
GOLDEN FOOD SAL
Country of Origin :
Lebanon
Legal Form :
Lebanese Joint Stock Company
Start Date :
1986
Registration Date :
6th January 1992
Commercial Registration Number :
39455, Baabda
Issued Capital :
LP 120,000,000
Paid up Capital :
LP 120,000,000
Total Workforce :
100
Activities :
Import and distribution of general foodstuff products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Recommended Credit Limit :
US$ 300,000
COMPANY NAME
GOLDEN FOOD SAL
ADDRESS
Registered & Physical Address
Building : Abou Naoum
Building, 1st Floor
Street : Street No.
10
Area : Mkalles
PO Box : 55072
Town : Beirut
Country : Lebanon
Telephone : (961-1) 685434
/ 685435 / 685436
Facsimile : (961-1) 685437
Mobile : (961-3) 610071
Email : goldenf@inco.com.lb
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Beirut.
Branch Office (s)
Location Description
Amioun Office
and warehouse premises
Koura
Tel : (961-3) 606114
Ghazieh Office
and warehouse premises
Saida
Tel : (961-7) 222167
KEY PRINCIPALS
Name Position
Antoine Khalil Char Managing
Director
Georges Abdo Barakat Director
Brigitte Barakat Director
Najwa Char Director
LEGAL FORM &
OWNERS
Date of Establishment : Subject’s
operations date back to 1986, however it was registered on 6th
January 1992
Legal Form : Lebanese Joint
Stock Company
Commercial Reg. No. : 39455, Baabda
Issued Capital : LP 120,000,000
Paid up Capital : LP 120,000,000
Name of Shareholder
(s)
Antoine Khalil Char
Georges Abdo Barakat
Brigitte Barakat
Najwa Char
OPERATIONS
Activities: Engaged in the import and distribution of general foodstuff products,
including confectionery, chewing gum, pasta and biscuits. Subject services
approximately 6,000 points of sale every week.
Import Countries: Spain, Italy, Cyprus, Belgium, Netherlands, Greece,
Turkey, France, China and India
Brand Names: CHUPPA
CHUPS, MOVIE GUM, SEDRINCA, MITSIDES, MILDRED, CANDELITE, LOTUS, BIMBO,
SILUETA, SMINT, SUPERMAX, SLIM 18, ERKO, and OLYMPIC
Operating Trend: Steady
Subject has a workforce of approximately 100 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
8,350,000,000 LP
8,800,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
Societe Generale Libano Europeene de Banque Sal
PO Box : 112955
Beirut
Tel : (961-1) 499813 / 483001
Fax : (961-1) 200455
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1986, subject is involved in the import and distribution
of general foodstuff products, including confectionery, chewing gum, pasta and
biscuits under a number of universally known brand names.
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)