MIRA
INFORM REPORT
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Report Date : |
23.12.2008 |
IDENTIFICATION DETAILS
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Name : |
AFRIMEX SAL |
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Registered Office : |
M.
Srour Bldg, 1st Floor, Apt 101,
Abbassieh Junction – |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.06.2003 |
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Com. Reg. No.: |
5281 |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Import and Distribution of Supermarket
Products and General Foodstuff Items. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : AFRIMEX SAL
Country of Origin :
Legal Form : Lebanese Joint Stock Company
Registration Date : 1st June 2003
Chamber Membership Number : 5281
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Total Workforce : 12
Activities : Import and distribution of supermarket products and general foodstuff items.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
AFRIMEX
SAL
ADDRESS
Registered & Physical Address
Building : M.
Srour Bldg, 1st Floor, Apt 101
Street : Abbassieh
Junction –
Town : Tyr
Country :
Telephone : (961-7) 349601
/ 349604 / 349597
Facsimile : (961-7) 349601
/ 343154
Email : ahsaad@afrimex-tyr.com
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Tyr.
KEY PRINCIPALS
Name Position
·
Yousef Mohamed Taj Eddine Managing
Director
·
Ali H. Saad Director
·
Abdullah Abdullah Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st
June 2003
Legal Form :
Lebanese Joint Stock
Company
Chamber Member No. : 5281
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Name of Shareholder (s)
·
Yousef Mohamed Taj Eddine
·
Ali H. Saad
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Lebanese businessmen & private investors
OPERATIONS
Activities: Engaged in the
import and distribution of supermarket products and general foodstuff items.
Import Countries:
Operating Trend: Steady
Subject has a
workforce of 12 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 2,520,000,000 LP 2,800,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Fransabank
Sal
PO Box : 110393
Tel : (961-1) 340180 / 354573
Fax : (961-1) 354572
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in June
2003, Afrimex Sal has made steady progress in the
local business community and is engaged in the import and distribution of
supermarket products and general foodstuff items.
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.48.49 |
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1 |
Rs.71.89 |
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Euro |
1 |
Rs.67.86 |
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%)