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Report Date : |
18.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
GOLDEN FOOD SAL |
|
|
|
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Registered Office : |
Abou Naoum Building, 3rd Floor, Street No. 10, Mkalles, P O
Box 55072, Beirut |
|
|
|
|
Country : |
Lebanon |
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|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
|
Year of Establishment : |
1986 |
|
|
|
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Com. Reg. No.: |
39455, Baabda |
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|
|
|
Legal Form : |
Lebanese Joint Stock Company |
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|
|
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Line of Business : |
Import and distribution of general foodstuff products |
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|
|
|
No. of Employees : |
120 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 |
lebANON - 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 |
Company Name : GOLDEN FOOD SAL
Country of Origin : Lebanon
Legal Form : Lebanese Joint Stock Company
Start Date : 1986
Registration Date : 6th January 1992
Commercial Registration Number : 39455, Baabda
VAT Number : 7773
Issued Capital : LP 120,000,000
Paid up Capital : LP 120,000,000
Total Workforce : 120
Activities : Import and distribution of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
GOLDEN FOOD SAL
Registered &
Physical Address
Building : Abou Naoum Building, 3rd
Floor
Street : Street No. 10
Area :
Mkalles
PO Box : 55072
Town : Beirut
Country : Lebanon
Telephone : (961-1) 685434 / 685435 / 685436 /
494422
Facsimile : (961-1) 685437 / 493561
Mobile : (961-3) 610071
Email : goldenf@inco.com.lb / info@golden-food.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Beirut.
Branch Office (s)
Location Description
·
Amioun Office
and warehouse premises
Koura
Tel: (961-3) 606114
·
Ghazieh Office and
warehouse premises
Saida
Tel:
(961-7) 222167
·
Bechmezzine Office
and warehouse premises
Koura
Tel: (961-6) 930701
Name Position
·
Antoine
Khalil Char Managing
Director
·
Georges
Abdo Barakat Director
·
Brigitte
Barakat Director
·
Najwa
Char Director
·
Joseph
Bejjani IT
Manager
·
George
Hadad Commercial
Manager
·
Halim
Aliah Finance
Manager
Date of Establishment : Subject’s operations
date back to 1986, however it was registered on 6th January 1992
Legal Form :
Lebanese Joint Stock
Company
Commercial Reg. No. : 39455, Baabda
VAT
No. : 7773
Issued Capital : LP 120,000,000
Paid up Capital : LP 120,000,000
Name of Shareholder
(s)
·
Antoine
Khalil Char
·
Georges
Abdo Barakat
·
Brigitte
Barakat
·
Najwa
Char
·
Farid
Saoud Aujan & Co SA
·
Uno For
Trading & Distribution Sal
Beirut
Activities: Engaged in the import and distribution of general
foodstuff products, including confectionery, chewing gum, pasta and biscuits.
Subject services approximately 6,000 points of sale every week.
Import
Countries: Spain, Italy,
Cyprus, Belgium, Netherlands, Greece, Turkey, France, China and India
Brand Names: CHUPPA
CHUPS, MOVIE GUM, SEDRINCA, MITSIDES, MILDRED, CANDELITE, LOTUS, BIMBO,
SILUETA, SMINT, SUPERMAX, SLIM 18, ERKO, OLYMPIC, DORI, ERKO, FINETTI, GOLDEN LIGHT, GOLDERN POWER, PANDA, TEASHOP,
VANOISE, VIP, ZED CANDY, ROLLER, VITAMIX, ETI, TIFFANY, KOPIKI and SOUPLEX
Operating Trend: Steady
Subject has a
workforce of approximately 120 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
10,600,000,000 LP
11,150,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Societe
Generale Libano Europeene de Banque Sal
PO Box: 112955
Beirut
Tel: (961-1) 499813 / 483001
Fax:
(961-1) 200455
No complaints
regarding subject’s payments have been reported.
Established in 1986,
subject is involved in the import and distribution of general foodstuff
products, including confectionery, chewing gum, pasta and biscuits under a
number of universally known brand names.
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.54.63 |
|
UK Pound |
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.71.86 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.