MIRA INFORM REPORT

 

 

Report Date :

05.12.2012

 

IDENTIFICATION DETAILS

 

Name :

LEBANESE INTERNATIONAL TOURISTIC PROJECTS COMPANY 

 

 

Registered Office :

Zouhour Building, 2nd Floor, Street No. 73, Bir Hassan Area, Sector No. 7, P O Box 135797, Beirut

 

 

Country :

Lebanon

 

 

Year of Establishment :

1992

 

 

Com. Reg. No.:

60554, Beirut

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Operators of restaurants and fast food outlets.

 

 

No. of Employees :

900 employees

 

 

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

 

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 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Lebanon

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

lebNON - ECONOMIC OVERVIEW

 

Lebanon has a free-market economy and a strong laissez-faire commercial tradition. The government does not restrict foreign investment; however, the investment climate suffers from red tape, corruption, arbitrary licensing decisions, complex customs procedures, high taxes, tariffs, and fees, archaic legislation, and weak intellectual property rights. The Lebanese economy is service-oriented; main growth sectors include banking and tourism. The 1975-90 civil war seriously damaged Lebanon's economic infrastructure, cut national output by half, and derailed Lebanon's position as a Middle Eastern entrepot and banking hub. Following the civil war Lebanon rebuilt much of its war-torn physical and financial infrastructure by borrowing heavily - mostly from domestic banks - saddling the government with a huge debt burden. Pledges of economic and financial reforms made at separate international donor conferences during the 2000s have mostly gone unfulfilled, including those made during the Paris III Donor Conference in 2007 following the July 2006 war. The collapse of the government in early 2011 over its backing of the Special Tribunal for Lebanon and unrest in neighboring Syria slowed economic growth to 1.5% after four years of 8% average growth. In September 2011 the Cabinet endorsed a bill that would provide $1.2 billion in funding to improve Lebanon's downtrodden electricity sector, but fiscal limitations will test the government's ability to invest in other areas, such as water.

 

Source : CIA

SUMMARY

 

Company Name                         : LEBANESE INTERNATIONAL TOURISTIC PROJECTS COMPANY

SARL

Also Known As                                      : AMERICANA

Country of Origin                                    : Lebanon

Legal Form                                            : Limited Liability Company

Registration Date                                   : 1992

Commercial Registration Number            : 60554, Beirut

Issued Capital                                        : LP 2,500,000,000

Paid up Capital                                      : LP 2,500,000,000

Total Workforce                                     : 900

Activities                                               : Operators of restaurants and fast food outlets.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

 

COMPANY NAME

 

LEBANESE INTERNATIONAL TOURISTIC PROJECTS COMPANY SARL

 

 

ALSO KNOWN AS

 

AMERICANA

 

 

Company ADDRESS

 

Registered & Physical Address

Building             : Zouhour Building, 2nd Floor

Street               : Street No. 73

Area                 : Bir Hassan Area, Sector No. 7

PO Box             : 135797

Town                 : Beirut

Country             : Lebanon

Telephone         : (961-1) 857441 / 825921 / 825922 / 825923

Facsimile          : (961-1) 825918 / 835211

 

Premises

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

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       KFC, Raoucheh Sector, Beirut                                                           Fast food outlet

·       KFC Jounieh, Kesrouane                                                                   Fast food outlet

·       KFC Aley                                                                                         Fast food outlet

·       KFC Tripoli                                                                                       Fast food outlet

·       KFC Chiyah, Baabda                                                             Fast food outlet

·       KFC Saida                                                                                        Fast food outlet

·       KFC Khaldeh Area, Choueifate                                                           Fast food outlet

·       KFC Bhamdoun                                                                                Fast food outlet

·       KFC Tyr                                                                                           Fast food outlet

·       KFC Nabatieh                                                                                   Fast food outlet

·       KFC Chtaura, Zahleh                                                             Fast food outlet

·       KFC Abra, Saida                                                                               Fast food outlet

·       KFC Sassine Square, Achrafieh Sector, Beirut                                    Fast food outlet

·       KFC Concorde Square, Verdun Center, Snoubra Sector, Beirut Fast food outlet

·       KFC Highway, Zalka                                                                          Fast food outlet

·       KFC Airport Boulevard, Bourj Brajneh                                                  Fast food outlet

 

·       KFC Pres. Nabih Berri Street, Tyr                                                       Fast food outlet

·       KFC Kafa’at Highway, Hadath                                                            Fast food outlet

·       KFC Bakaata                                                                                    Fast food outlet

·        Hardee’s Highway, Khaldeh Area, Choueifate                                      Fast food outlet

·       Hardee’s Bliss Street, Beirut                                                              Fast food outlet

Tel: (961-1) 363144

 

·       Hardee’s Concorde Square, Verdun Center, Snoubra Sector, Beirut       Fast food outlet

Tel: (961-1) 749865

 

·       Hardee’s Raoucheh Sector, Beirut                                                      Fast food outlet

Tel: (961-1) 799800

 

·       Hardee’s Sassine Square, Achrafieh Sector, Beirut                              Fast food outlet

Tel: (961-1) 204965

 

·       Hardee’s Highway, Zalka                                                                    Fast food outlet

Tel: (961-4) 711115

 

·       Hardee’s Jounieh                                                                               Fast food outlet

Tel: (961-9) 642579

 

·       Hardee’s Tripoli                                                                                 Fast food outlet

Tel: (961-6) 438633

 

·       Hardee’s Bhamdoun                                                                          Fast food outlet

 

·       Hardee’s Highway, Jal El Dib                                                              Fast food outlet

 

·       Costa, Hamra Street, Hamra Sector, Beirut                                         Coffee shop

Tel: (961-1) 343338

 

·       Costa, Maarad Street, Beirut Central District                                       Coffee shop

Tel: (961-1) 999567

 

·       Costa Pres. Nabih Street, Tyr                                                 Coffee shop

Tel: (961-1) 343775

 

·       Costa Sassine Square, Achrafieh Sector, Beirut                                  Coffee shop

Tel: (961-1) 202065

 

·       Costa Bhamdoun                                                                              Coffee shop

Tel: (961-5) 260458

 

·       Costa Ain El Tineh Sector, Beirut                                                       Coffee shop

Tel: (961-1) 799372

 

·       Costa Highway, Maameltein Area, Ghazir                                            Coffee   shop

Tel: (961-9) 852391

 

·       Krispy Kreme Donut, Bhamdoun                                                         Fast food outlet

Tel: (961-5) 261148

 

·       Krispy Kreme Donut, Aley                                                                  Fast food outlet

Tel: (961-5) 556121   

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

·       Khaled  Ghanem                                                                               General Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1992

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 60554, Beirut

 

Issued Capital              : LP 2,500,000,000

 

Paid up Capital            : LP 2,500,000,000

 

Name of Shareholder (s)                                                                           Percentage

 

·       Kuwait Food Company SAK                                                                           98%

Plot No. 198A

Canada Dry Street

Shuwaikh Industrial Area

PO Box: 5087

Safat 13051

Kuwait

Tel: (965) 24815900 / 24735476 / 24749543 / 24347938

Fax: (965) 24815914 / 24338464 / 24846925

 

·       Local businessmen and private investors                                                           2%

 

 

OPERATIONS

 

Activities: Engaged in the operation of restaurants and fast food outlets.

 

Import Countries: Europe and the Far East.

 

Brand Names: HARDEE’S, TGI FRIDAY’S, BASKIN ROBBINS, KFC, COSTA COFFEE, KRISPY KREME DONUTS, SIGNOR SASSI.

Subject has a workforce of approximately 900 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

 

·       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

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.95

UK Pound

1

Rs.88.42

Euro

1

Rs.71.71

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.