MIRA INFORM REPORT

 

 

Report Date :

23.06.2012

 

IDENTIFICATION DETAILS

 

Name :

KHALIL WARDE SAL

 

 

Registered Office :

Mongolian Building, Ground Floor, Zalka Highway, Amaret Chalhoub, P O Box 1135332, Beirut

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

27.11.1982

 

 

Com. Reg. No.:

45905, Beirut

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

Line of Business :

Distributors, wholesalers and retailers of drapery and textiles, soft furnishings, cushions, carpets, wall coverings, curtains and decorative household articles, as well as fabrics, linen tablecloths and towels

 

 

No. of Employees :

200

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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                         : KHALIL WARDE SAL

Country of Origin                                    : Lebanon

Legal Form                                            : Lebanese Joint Stock Company

Registration Date                                   : 27th November 1982

Commercial Registration Number            : 45905, Beirut

Issued Capital                                        : LP 4,500,000,000

Paid up Capital                                      : LP 4,500,000,000

Total Workforce                                     : 200

Activities                                               : Distributors, wholesalers and retailers of drapery and textiles, soft

                                                              furnishings, cushions, carpets, wall coverings, curtains and decorative

                                                              household articles, as well as fabrics, linen tablecloths and towels

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                         : Steady

 

 

 

 

COMPANY NAME

 

KHALIL WARDE SAL

 

 

company ADDRESS

 

Registered & Physical Address

Building             : Mongolian Building, Ground Floor

Street               : Zalka Highway

Area                 : Amaret Chalhoub

PO Box             : 1135332

Town                 : Beirut

Country             : Lebanon

Telephone         : (961-1) 601572 / 888279 / 888281 / 897725 / 875600-6

Facsimile          : (961-1) 601573 / 875609

Mobile               : (961-3) 605818

Email                : warde@khalilwarde.com.lb / warde@dm.net.lb

 

Premises

Subject operates from a medium sized suite of offices, a warehouse and a showroom that are rented and located in the Suburban Business Area of Beirut.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Makdessi Street                                                                                Rented showroom premises

Hamra

Beirut

     Tel: (961-1) 350463 / 346055 / 748400

 

·       Hazmieh                                                                                           Rented showroom premises

Beirut

     Tel: (961-5) 951903

 

·       El Helatie                                                                                         Rented showroom premises

Saida

     Tel: (961-7) 751177 / 751178 / 751179

 

·       El Mina                                                                                            Rented showroom premises

Tripoli

     Tel: (961-6) 602070 / 614652

 

·       Ksara                                                                                               Rented showroom premises

Zahle, Milart

       Tel: (961-8) 806855

Mob: (961-3) 211569

 

·       Baaklin                                                                                             Rented showroom premises

Mob: (961-3) 626039

 

·       Dahr El Ain                                                                                       Rented showroom premises

Koura

     Tel: (961-6) 432054 / 431274

 

·       Tyr                                                                                                   Rented showroom premises

Mob: (961-3) 321228

 

·       Shmeisani                                                                                        Rented showroom premises

PO Box: 9532

Amman

Jordan

Tel: (962-6) 5686012

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Gabriel Khalil Warde                                                                          Managing Director

 

·       Mrs Nada Pierre Khalil Warde                                                            Director

 

·       Andre Khalil Warde                                                                           Director

 

·       Mrs Emilie Khalil Warde                                                                    Director

 

·       Paul G Warde                                                                                   Director

 

·       Mrs Hala Warde                                                                                Director

 

·       Amale Warde                                                                                    Director

 

·       Manale Warde                                                                                  Director

 

·       Neda Warde                                                                                     Director

 

·       Georges Araman                                                                               Finance Manager

 

·       Robert Warde                                                                                   Human Resources Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 27th November 1982

 

Legal Form                  : Lebanese Joint Stock Company

 

Commercial Reg. No.  : 45905, Beirut

 

Issued Capital              : LP 4,500,000,000

 

Paid up Capital            : LP 4,500,000,000

 

Name of Shareholder (s)

·       Gabriel Khalil Warde

·       Mrs Nada Pierre Khalil Warde

·       Andre Khalil Warde

·       Mrs Emilie Khalil Warde

·       Paul G Warde

·       Mrs Hala Warde

·       Amale Warde

·       Manale Warde

·       Neda Warde

 

 

AFFILIATED COMPANIES

 

·       Khalil Warde Est

Baydoun Building

Hamra Main Street

Hamra

PO Box: 1135332

Beirut

     Tel: (961-1) 748400 / 748401 / 748402

     Fax: (961-1) 748403

     Email: warde@dm.net.lb

     Commercial Registration Number: 1299

 

 

OPERATIONS

 

Activities: Distributors, wholesalers and retailers of drapery and textiles, soft furnishings, cushions, carpets, wall

     coverings, curtains and decorative household articles, as well as fabrics, linen tablecloths and towels.

 

                  Subject also offers fitting and installation services, as well as interior designing.

 

Import Countries: Italy, Spain, France, the United Kingdom, Germany, Saudi Arabia, Morocco and Libya

 

International Suppliers:

 

·       Riorna                                  Spain

·       Le Lievre                               France

·       Tinte Unite                            Italy

·       Colony                                 Italy

·       Sanderson                            United Kingdom

·       Monkwell Co                         United Kingdom

 

Brand Names: RUBELLI, JIMMER & ROHDE, ETRO, MARCATO, HESSLEIN, VOGHI,      SURCANAPE, DONGHIA,

JAB, ELITIS, ROMO and NOBILIS

 

Operating Trend: Steady

 

Subject has a workforce of approximately 200 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 Sales                                LP 10,050,000,000                                 LP 10,380,000,000

 

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

 

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

 

 

BANKERS

 

·       Banque Nationale de Paris Intercontinentale

PO Box: 111608

Beirut

Tel: (961-1) 200600 / 333717 / 216140

Fax: (961-1) 200604

 

·       Blom Bank Sal

PO Box: 111912

Beirut

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

Fax: (961-1) 364133

 

·       Bank of Beirut and the Arab Countries Sal

PO Box: 111536

Beirut

Tel: (961-1) 867142 / 869835

Fax: (961-1) 869836

 

·       Societe Nouvelle de la Banque de Syrie et du Liban

PO Box: 11957

Beirut

Tel: (961-1) 402420

Fax: (961-1) 405563 / 404561

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              October 2007

Amount overdue                         0

Payment terms                                      180 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Euros

 

 

GENERAL COMMENTS

 

Subject is well established in the local business community and is engaged in the distribution, wholesale, retail of textiles, soft furnishings, carpets, wall coverings, curtains and decorative household articles. Khalil Warde SAL are stockists of well known brands and operate from 9 branches throughout Lebanon and one in Jordan.

 

The company is owned by members of the Khalil Warde family who have many years experience in the textiles industry.

 

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.56.99

UK Pound

1

Rs.88.97

Euro

1

Rs.71.57

 

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.