MIRA INFORM REPORT

 

 

Report Date :

01.03.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

ALLCHEM SARL

 

 

Registered Office :

1st Floor, Block A, Center El Khatib, Chiyah Ghobeiri Boulevard, Bir Hassan Area, P O Box 6325, Beirut

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2010

 

 

Year of Establishment :

1996

 

 

Com. Reg. No.:

57775, Baabda

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of chemical raw materials

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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                                     : ALLCHEM SARL

Country of Origin                                    : Lebanon

Legal Form                                            : Limited Liability Company

Registration Date                                   : 1996

Commercial Registration Number            : 57775, Baabda

Issued Capital                                        : LP 5,000,000

Paid up Capital                                      : LP 5,000,000

Total Workforce                                     : 5

Activities                                               : Distributors of chemical raw materials.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : EUR 200,000

 

COMPANY NAME

 

ALLCHEM SARL

 

 

company ADDRESS

 

Registered & Physical Address

Location            : 1st Floor, Block A, Center El Khatib

Street               : Chiyah Ghobeiri Boulevard

Area                 : Bir Hassan Area

PO Box             : 6325

Town                 : Beirut

Country             : Lebanon

Telephone         : (961-1) 840710 / 840711

Facsimile          : (961-1) 840727 / 844730

Mobile               : (961-70) 880540

Email                : allchem@cyberia.net.lb

 

Premises

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

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Hadia Azar Menkara                                                                          Managing Director

 

·       Dr Abbass Saifuddine                                                                        Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1996

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 57775, Baabda

 

Issued Capital              : LP 5,000,000

 

Paid up Capital            : LP 5,000,000

 

Name of Shareholder (s)

 

·       Hadia Azar Menkara

 

·       Dr Abbass Saifuddine

 

·       Unnamed members of Mrs Hadia Azar Menkara’s family

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of chemical raw materials.

 

Import Countries: Turkey, Switzerland, Germany, India, China and the Czech Republic.

 

Export Countries: Africa and the Middle East.

 

Brand Names: CIBA, ANGUS, AKDENIZ KIMYA, ALFA KIMYA, FIRMENICH, ARGON, COGNIS, SPOLCHEMIE, VIBFAST and YIL-LONG.

 

Operating Trend: Steady

 

Subject has a workforce of 5 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 4,000,000,000                       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

Byblos Tower Building

Elias Sarkis Avenue

Ashrafieh

PO Box: 115605

Beirut

Tel: (961-1) 335200

Fax: (961-1) 339436

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Established in 1996, subject is involved in the import and distribution of chemical raw materials.

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.18

UK Pound

1

Rs.72.79

Euro

1

Rs.62.15

 

 

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

 

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.