MIRA INFORM REPORT

 

 

Report Date :           

08.10.2011

 

IDENTIFICATION DETAILS

 

Name :

POLYMER PROCESS INDUSTRIES (PPI)

 

 

Registered Office :

PPI Building, Main Road, Roumieh El Metn, P O Box 70140, Beirut

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

1979

 

 

Com. Reg. No.:

22632, Baabda

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Manufacturers of polyethylene bags and sacks and plastic packaging 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 :

US$ 150,000

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 – 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                                     : POLYMER PROCESS INDUSTRIES (PPI)

Country of Origin                                    : Lebanon

Legal Form                                            : Sole Proprietorship

Registration Date                                   : 1979

Commercial Registration Number            : 22632, Baabda

Invested Capital                                     : LP 15,000,000

Total Workforce                                     : 65

Activities                                               : Manufacturers of polyethylene bags and sacks and plastic packaging

                                                                  materials.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Recommended Credit Limit                     : US$ 150,000

 

COMPANY NAME

 

POLYMER PROCESS INDUSTRIES (PPI)

 

 

company ADDRESS

 

Registered & Physical Address

Building             : PPI Building

Street               : Main Road

Area                 : Roumieh El Metn

PO Box             : 70140

Town                 : Beirut

Country             : Lebanon

Telephone         : (961-1) 898485 / 891811

Facsimile          : (961-1) 898485 / 891811

Mobile               : (961-3) 651652 / 266958

Email                : vaheyev@hotmail.com

 

Premises

Subject operates from a medium sized suite of offices and a workshop that are owned and located in the Industrial Area of Beirut.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Ara Puzant Bederian                                                                         Proprietor & General Manager

 

·       Hasmig Bezdikian                                                                             Assistant General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1979

 

Legal Form                  : Sole Proprietorship

 

Commercial Reg. No.  : 22632, Baabda

 

Invested Capital           : LP 15,000,000

 

Mr Ara Puzant Bederian is the sole proprietor of the business.

 

 

AFFILIATED COMPANIES

 

·       PPI Sal

PPI Building

Main Road

     Roumieh El Metn

     Beirut

     Tel: (961-1) 898485

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of polyethylene bags and sacks and plastic packaging materials.

 

Import Countries: Europe, Qatar and Saudi Arabia

 

Export Countries: Europe and Africa

 

Brand Names: PPI

 

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 6,100,000,000                       LP 6,375,000,000

 

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

 

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 business is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.75.97

Euro

1

Rs.65.99

 

 

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.