MIRA INFORM REPORT

 

 

Report Date :           

30.03.2011

 

IDENTIFICATION DETAILS

 

Name :

KHOURY HOME APPLIANCES SAL

 

 

Registered Office :

Cite Dora 3 Building, 7th Floor, Street Dora Boulevard, Bauchrieh, P O Box 70611, Beirut

 

 

Country :

Lebanon

 

 

Date of Incorporation :

27.07.1998

 

 

Com. Reg. No.:

63407, Baabda

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

Line of Business :

Distributors of household electrical appliances

 

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$ 750,000

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 – 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                                     : KHOURY HOME APPLIANCES SAL

Country of Origin                                    : Lebanon

Legal Form                                            : Lebanese Joint Stock Company

Registration Date                                   : 27th July 1998

Commercial Registration Number            : 63407, Baabda

Issued Capital                                        : LP 100,000,000

Paid up Capital                                      : LP 100,000,000

Total Workforce                                     : 435

Activities                                               : Distributors of household electrical appliances.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 750,000

 

COMPANY NAME

 

KHOURY HOME APPLIANCES SAL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Cite Dora 3 Building, 7th Floor

Street               : Dora Boulevard

Area                 : Bauchrieh

PO Box             : 70611

Town                 : Beirut

Country             : Lebanon

Telephone         : (961-1) 244200

Facsimile          : (961-1) 253535

Email                : gkhoury@khouryhome.com

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Laoun Building                                                                                  Showroom premises

Dora Boulevard

Bourj Hammoud

Beirut

 

·       Hajj Building                                                                                     Showroom premises

Main Road

Mazraet Yachouh

Metn

Tel: (961-4) 915519

 

·       Jnah Area                                                                                         Showroom premises

Ghobeiri

Tel: (961-1) 837800

 

·       Maameltein Area                                                                               Showroom premises

Ghazir

Tel: (961-9) 854354

 

·       Army Street                                                                                      Showroom premises      

Damascus International Road

Baabda

Tel: (961-5) 958577

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Georges J Khoury                                                                             Managing Director

 

·       Antoine J Khoury                                                                               Director

 

·       Michael J Khoury                                                                              Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th July 1998

 

Legal Form                  : Lebanese Joint Stock Company

 

Commercial Reg. No.  : 63407, Baabda

 

Issued Capital              : LP 100,000,000

 

Paid up Capital            : LP 100,000,000

 

Name of Shareholder (s)

 

·       Georges J Khoury

 

·       Antoine J Khoury

 

·       Michael J Khoury

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of household electrical appliances, including refrigerators, washing machines, vacuum cleaners, kitchen appliances, televisions, air conditioning systems, audio-visual

 equipment and mobile telephones.

 

Import Countries: Germany, Italy, China, Czech Republic, Turkey, Spain and Austria

 

Brand Names: BLUMATIC, BAUMATIC, BISSELL, BLOMBERG, LIEBHERR, SMEG, SEVERIN, HISENSE,

                        BOCONCEPT, JVC, MABE, FALMEC, MEILLI and SAFEWELL

 

Subject has a workforce of approximately 435 employees.

 

 

FINANCIAL DATA

 

Companies registered in Lebanon are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Byblos Bank

Byblos Tower Building

Elias Sarkis Avenue

Ashrafieh

PO Box: 115605

Beirut

Tel: (961-1) 335200

Fax: (961-1) 339436

 

·       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 company is considered to be a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.67

UK Pound

1

Rs.71.63

Euro

1

Rs.63.09

 

 

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.