MIRA INFORM REPORT

 

 

Report Date :           

27.04.2011

 

IDENTIFICATION DETAILS

 

Name :

HARFOUCHE FOR TRADING & INDUSTRIAL EST

 

 

Registered Office :

Pastel Building, Industrial Area, P O Box 62, Mazraet Yachouh

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1990

 

 

Com. Reg. No.:

32680, Baabda

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Manufacture of paints, primers, varnishes, lacquers, and stains

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

EUR 200,000

Status :

Satisfactory

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – December 31, 2010

 

Country Name

Previous Rating

                   (30.09.2010)                  

Current Rating

(31.12.2010)

Lebanon

c1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUMMARY

 

Company Name                                     : HARFOUCHE FOR TRADING & INDUSTRIAL EST

Doing Business As                                : PASTEL PAINTS

Country of Origin                                    : Lebanon

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 1990

Commercial Registration Number            : 32680, Baabda

Invested Capital                                     : LP 10,000,000

Total Workforce                                     : 28

Activities                                               : Manufacture of paints, primers, varnishes, lacquers, and stains

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : EUR 200,000

COMPANY NAME

 

HARFOUCHE FOR TRADING & INDUSTRIAL EST

 

 

DOING BUSINESS AS

 

PASTEL PAINTS

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Pastel Building

Area                 : Industrial Area

PO Box             : 62

Town                 : Mazraet Yachouh

Country             : Lebanon

Telephone         : (961-4) 920200 / 915116

Facsimile          : (961-4) 915115

Mobile               : (961-3) 275959

Email                : pastel@pastelpaints.com

 

Premises

Subject operates from a medium sized suite of offices and a factory that are owned and located in the Industrial Area of Mazraet Yachouh.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Elie Toufic Harfouche                                                             Proprietor & General Manager

 

·       Paul Harfouche                                                                                 Research & Development Manager

 

·       Fares Maalouf                                                                                   Plant Manager

 

·       Wissam Kesrouani                                                                            Sales Manager

 

·       Bechara Al Khal                                                                                Finance Manager

 

·       Elie Al Rayess                                                                                  Technical Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1990

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 32680, Baabda

 

Invested Capital           : LP 10,000,000

 

Mr Elie Toufic Harfouche is the sole proprietor of the business.

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of paints, primers, varnishes, lacquers and stains.

 

Import Countries: Italy, Germany, and the Netherlands

 

Brand Names: PASTEL

 

Operating Trend: Steady

 

Subject has a workforce of 28 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Lebanese Pounds (LP)

 

                                                Year Ending 31/12/09:                Year Ending 31/12/10:

 

Total Sales                                LP 3,900,000,000                       LP 4,250,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Blom Bank Sal

Al Daber Building

Abdel Aziz Street

PO Box: 111912

Beirut

Tel: (961-1) 346290 / 863830 / 371898

Fax: (961-1) 364133

 

·       Bank of Beirut Sal

Clemanceau Street

PO Box: 117354

Beirut

Tel: (961-1) 360850 / 350723

Fax: (961-1) 360850

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

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 business is considered to be a fair trade risk and the above credit figure is within subject’s financial means.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.59

UK Pound

1

Rs.73.44

Euro

1

Rs.64.81

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.