MIRA INFORM REPORT

 

 

Report Date :           

12.08.2011

 

IDENTIFICATION DETAILS

 

Name :

SIS SAL

 

 

Registered Office :

Ghandour Building, Ground Floor, Pierre Gemayel Street, Dora Area, Bauchrieh, P O Box 90026, Beirut

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1999

 

 

Com. Reg. No.:

65332, Baabda

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

Line of Business :

Import and distribution of protective and work clothing and footwear as well  as safety equipment

 

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 :

US$ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct 

 

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

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                                     : SIS SAL

Country of Origin                                    : Lebanon

Legal Form                                            : Lebanese Joint Stock Company

Registration Date                                   : 1999

Commercial Registration Number            : 65332, Baabda

Issued Capital                                        : LP 30,000,000

Paid up Capital                                      : LP 30,000,000

Total Workforce                                     : 22

Activities                                               : Import and distribution of protective and work clothing and footwear as

well  as safety equipment

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

SIS SAL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Ghandour Building, Ground Floor

Street               : Pierre Gemayel Street

Area                 : Dora Area, Bauchrieh

PO Box             : 90026

Town                 : Beirut

Country             : Lebanon

Telephone         : (961-1) 240011 / 252905 / 252906 / 263223

Facsimile          : (961-1) 248867 / 261446

Mobile               : (961-3) 935895

 

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Beirut.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Farid G Saad                                                                                    Managing Director

 

·       Micheline Saad                                                                                 Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1999

 

Legal Form                  : Lebanese Joint Stock Company

 

Commercial Reg. No.  : 65332, Baabda

 

Issued Capital              : LP 30,000,000

 

Paid up Capital            : LP 30,000,000

 

Name of Shareholder (s)

 

·       Farid G Saad

 

·       Micheline Saad

 

·       Eversafe Sarl

Bourj Hammoud

Dora

Beirut

Lebanon

Tel: (961-1) 255288

Fax: (961-1) 255288

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of protective and work clothing and footwear as well as safety

equipment. Subject’s product range includes; leather and rubber gloves, respirators and masks, safety shoes, safety belts, disk cutting wheels and personal protective equipment.

 

Import Countries: France, Italy, Germany and China.

 

Brand Names: DELTA PLUS, VENITEX, MOLDEXMETRIC, MTS, PROTECTA, KASCO, RHODIUS, SUNFLEX,

MAPA, JALLATE AUDA, BICAP, WESTERN CHIEF, BK BLACK KNIGHT and EVER SAFE

 

Operating Trend: Steady

 

Subject has a workforce of 22 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 3,950,000,000                       LP 4,380,000,000

 

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

 

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

 

 

BANKERS

 

·       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.

 

 

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 company is considered to be a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.27

UK Pound

1

Rs.73.34

Euro

1

Rs.64.58

 

 

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.