MIRA INFORM
REPORT
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Report Date : |
12.04.2012 |
IDENTIFICATION DETAILS
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Name : |
UNITED FISHERIES COMPANY SAL (UFICO) |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
05.08.1998 |
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Com. Reg. No.: |
63519, Baabda |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Distributors of sea food products |
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No. of Employees
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20 |
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$ 150,000 |
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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, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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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 |
Company Name : UNITED FISHERIES COMPANY SAL (UFICO)
Country of Origin : Lebanon
Legal Form : Lebanese Joint Stock Company
Registration Date : 5th August 1998
Commercial Registration Number : 63519, Baabda
Issued Capital : LP 1,005,352,500
Paid up Capital : LP 1,005,352,500
Total Workforce : 20
Activities : Distributors of sea food products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
UNITED FISHERIES
COMPANY SAL (UFICO)
Registered &
Physical Address
Building : Oumara Project Building
Street : Tiro Road
Area : Industrial Area
PO Box : 30023
Town : Choueifate
Country : Lebanon
Telephone : (961-5) 437545
Facsimile : (961-5) 437546
Email : unifcon@inco.com.lb
Premises
Subject operates
from a medium sized suite of offices and a warehouse that are rented and
located in the Industrial Area of Choueifate.
Name Position
·
Wadih A
Nasserallah Managing
Director
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Bechara
S Milane Director
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Ralph N
Bakhos Director
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Roger G
Hakim Director
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John
Khayat Purchasing
Manager
Date of Establishment : 5th
August 1998
Legal Form :
Lebanese Joint Stock
Company
Commercial Reg. No. : 63519, Baabda
Issued Capital : LP 1,005,352,500
Paid up Capital : LP 1,005,352,500
Name of Shareholder
(s)
·
Wadih A
Nasserallah
·
Bechara
S Milane
·
Ralph N
Bakhos
·
Roger G
Hakim
Activities: Engaged in the import and distribution of
sea food products, including fish, crab, shrimp and lobster.
Subject’s clients include
hotels and restaurants located throughout Lebanon.
Import
Countries: India, Spain,
China and Thailand.
Brand Names: CAPTAIN FISHER, TABLE PLUS and OCEAN GARDEN
Operating Trend: Steady
Subject has a
workforce of 20 employees.
Financial
highlights provided by local sources are given below:
Currency: Lebanese
Pounds (LP)
Year
Ending 31/12/10: Year
Ending 31/12/11:
Total Sales LP 3,250,000,000 LP 3,720,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Byblos Bank
Sal
PO Box: 115605
Beirut
Tel: (961-1) 898200
Fax:
(961-1) 898209
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Fransabank
Sal
PO Box: 110393
Beirut
Tel: (961-1) 340180 / 354573
Fax:
(961-1) 354572
No complaints
regarding subject’s payments have been reported.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.51.55 |
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UK Pound |
1 |
Rs.81.95 |
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Euro |
1 |
Rs.67.57 |
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.