MIRA INFORM REPORT

 

 

Report Date :

18.12.2012

 

IDENTIFICATION DETAILS

 

Name :

JAWHAR TRADING COMPANY (JTC)

 

 

Registered Office :

Al Sallam Building, Ibn Khaldoun Street, Beirut

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

24.11.1999

 

 

Reg. No.:

75204

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Wholesale and retail of automotive spare parts and related accessories

 

 

No. of Employees :

39

 

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

(31.03.2011)

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

 

 

SUMMARY

 

Company Name                                     : JAWHAR TRADING COMPANY (JTC)

Country of Origin                                    : Lebanon

Legal Form                                            : General Partnership

Registration Date                                   : 24th November 1999

Commercial Registration Number            : 75204, Beirut

VAT Number                                          : 194005

Partners Capital                                     : LP 150,000,000

Total Workforce                                     : 39

Activities                                               : Wholesale and retail of automotive spare parts and related accessories

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Zakaria Mohamed, Sales Manager

 

COMPANY NAME

 

JAWHAR TRADING COMPANY (JTC)

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Al Sallam Building

Street               : Ibn Khaldoun Street

Town                 : Beirut

Country             : Lebanon

 

Telephone         : (961-1) 707733 / 706323 / 819619

Facsimile          : (961-1) 816619

Mobile               : (961-3) 220074 / 883335

Email                : durulax@jtc-lebanon.com / bahaa@jtc-lebanon.com

 

Premises

 

Subject operates from a small suite of offices, a warehouse and a showroom that are owned and located in the Central Business Area of Beirut.

 

Branch Office (s)

 

            Location                                                                                              Description

 

Plaza One, Airport Road                                                             Rented office premises

Beirut

Tel: (961-1) 850866

Fax: (961-1) 854999

 

 

KEY PRINCIPALS

 

            Name                                                                                       Position

 

Mazen Tawfiq Jawhar                                                                             Managing Partner

 

Ahmed Tawfiq Jawhar                                                                             Partner

 

Baha Tawfiq Jawhar                                                                                Partner

 

Zakaria Mohamed                                                                                  Sales Manager

 

 

LEGAL FORM & OWNERS

 

 

Date of Establishment  : 24th November 1999

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 75204, Beirut

 

VAT No.                       : 194005

 

Partners Capital           : LP 150,000,000

 

Name of Shareholder (s)

 

Mazen Tawfiq Jawhar

 

Ahmed Tawfiq Jawhar

 

Baha Tawfiq Jawhar

 

 

OPERATIONS

 

Activities: Engaged in the wholesale and retail of automotive spare parts and related accessories, including plugs, lights, filters and brake pads.

 

Import Countries: Europe and the United States of America

 

International Suppliers:

 

Fuji Filter           Turkey

 

Brand Names: MERCEDES BENZ, RENAULT, VOLVO, PEUGEOT, BMW, FIAT, OPEL, DURULAX, WAKKA, IDA

and LASER

 

Operating Trend: Steady

 

Subject has a workforce of 39 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: Lebanese Pounds (LP)

 

                                                Year Ending 31/12/10:              Year Ending 31/12/11:

 

Total Revenue                            LP 4,130,000,000                       LP 4,525,000,000

 

Local sources consider subject’s financial condition to be Fair.

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

Blom Bank Sal

Al Daber Building

Abdel Aziz Street

PO Box: 111912

Beirut

Tel: (961-1) 346290 / 863830 / 371898

Fax: (961-1) 364133

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                                 October 2004

Credit amount                                        100,000

Amount overdue                         0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Euros

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed 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.71.85

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.