MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
BYCOP SAL |
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Registered Office : |
Nazarian
Building, Daoud Amoun Street, Sin El Fil, PO Box 55445, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
29.12.1995 |
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Com. Reg. No.: |
56722, Baabda |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Import and Distribution of Threads, Fabrics and Textiles |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : BYCOP SAL
Country of Origin : Lebanon
Legal Form : Lebanese Joint Stock Company
Start Date : 1974
Registration Date : 29th December 1995
Commercial Registration Number : 56722, Baabda
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Total Workforce : 170
Activities : Import and distribution of threads, fabrics and textiles
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
BYCOP SAL
ADDRESS
Registered & Physical Address
Building : Nazarian Building
Street : Daoud Amoun Street
Area : Sin El Fil
PO Box : 55445
Town : Beirut
Country : Lebanon
Telephone : (961-1) 494021 / 494022 / 494023
Facsimile : (961-1) 493892 / 488883
Email : admin@bycop.com
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are owned and located
in the Central Business Area of Beirut.
KEY PRINCIPALS
Name Position
·
Arthur G
Nazarian Managing
Director
·
Leon G
Nazarian Director
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Gary Nazarian Director
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Nazar Nazarian Director
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Rahan
Ghorghorian Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : Subject’s
activities date back to 1974, however it was registered on 29th
December 1995
Legal Form :
Lebanese Joint Stock
Company
Commercial Reg. No. : 56722, Baabda
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Name of Shareholder (s)
·
Arthur G
Nazarian
·
Leon G
Nazarian
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Gary Nazarian
·
Nazar Nazarian
OPERATIONS
Activities: Engaged in the import and distribution of
threads, fabrics and textiles.
Import
Countries: Italy, Belgium,
China, Taiwan, Brazil and the United States of America
Brand Names: ROYALE, SAVOY, ARTEX, WHITY, KARSTEN, DREAM
and FASHIONS
Operating Trend: Steady
Subject has a
workforce of 170 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
11,800,000,000 LP
14,000,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
ABN AMRO Bank
PO Box : 1135162
Beirut
Tel : (961-1) 410351
Fax
: (961-1) 404490
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Banque Saradar
Sal
PO Box : 111121
Beirut
Tel : (961-1) 410351 / 413543
Fax
: (961-1) 404490
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction February
2005
Credit amount 86,000
Amount overdue 0
Payment terms 150
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Bycop Sal has been in
business for over 30 years and specialises in the import and distribution of
threads, fabrics and textiles, stocking a number of well 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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)