MIRA INFORM REPORT
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Report Date : |
08.10.2011 |
IDENTIFICATION DETAILS
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Name : |
FOMACO CO SARL |
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Registered Office : |
Halbawi Center, Ground
Floor, Camille Chamoun Boulevard, Hadath, P O Box 2571,Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2010 |
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Year of Establishment : |
1988 |
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Com. Reg. No.: |
993, Zahle |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacture of mattresses, upholstered furniture, household linens and bedding |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Lebanon |
c1 |
c1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUMMARY
Company Name : FOMACO CO SARL
Country of Origin : Lebanon
Legal Form : Limited Liability Company
Registration Date : 1988
Commercial Registration Number : 993, Zahle
Issued Capital : LP 3,000,000,000
Paid up Capital : LP 3,000,000,000
Total Workforce : 65
Activities : Manufacture of mattresses, upholstered furniture, household linens and
bedding.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
FOMACO CO SARL
company ADDRESS
Registered &
Physical Address
Building : Halbawi Center, Ground Floor
Street : Camille Chamoun Boulevard
Area : Hadath
PO Box : 2571
Town : Beirut
Country : Lebanon
Telephone : (961-1) 558888 / (961-5) 470370
Facsimile : (961-1) 555559 / (961-5) 471666
Mobile : (961-3) 280346
Email : sales@foma-co.com
Premises
Subject operates from
a medium sized suite of offices that are owned and located in the Central
Business Area of Beirut.
Branch Office (s)
Location Description
·
Baalbeck
Road Owned
factory premises
Hellanieh
Zahle
Tel: (961-8) 921111
Fax: (961-8) 922028 / 922022
KEY PRINCIPALS
Name Position
·
Oussama
R Halbawi Managing
Director
·
Saeb C
Nahas Director
·
Sabih
Nahas Director
·
Abdelghani
R Halbawi Director
·
Fauzi S
Kassir Director
·
Yasser
Halbawi Production
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1988
Legal Form :
Limited Liability Company
Commercial Reg. No. : 993, Zahle
Issued Capital : LP 3,000,000,000
Paid up Capital : LP 3,000,000,000
Name of
Shareholder (s)
·
Oussama
R Halbawi
·
Saeb C
Nahas
·
Sabih
Nahas
·
Abdelghani
R Halbawi
·
Fauzi S
Kassir
AFFILIATED COMPANIES
·
Halbawi
Industry and Trade
Halbawi Centre
Haret Hreik
Beirut
Tel: (961-1) 558888
Fax: (961-1) 555559
OPERATIONS
Activities: Engaged in the manufacture of mattresses,
upholstered furniture, household linens and bedding.
Import
Countries: Italy and the
Netherlands
Brand Names: FOMA, GOMATEX, FOMACO and HISCO
Operating Trend: Steady
Subject has a
workforce of 65 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 7,290,000,000 LP 7,550,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Fransabank
Sal
PO Box: 110393
Beirut
Tel: (961-1) 340180 / 354573
Fax: (961-1) 354572
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
1988, subject is involved in the manufacture of mattresses, upholstered
furniture, household linens and bedding.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the company is deemed 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.49.14 |
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UK Pound |
1 |
Rs.75.97 |
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Euro |
1 |
Rs.65.99 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.