MIRA INFORM REPORT

 

 

Report Date :

19.11.2012

 

IDENTIFICATION DETAILS

 

Name :

DEBBAS CAPITAL OFFSHORE SAL

 

 

Registered Office :

Debbas Building, 3rd Floor, Corniche Area, 110125 Beirut

 

 

Country :

Lebanon

 

 

Date of Incorporation :

08.06.2010

 

 

Com. Reg. No.:

1804410, Beirut

 

 

Legal Form :

Lebanese Offshore Joint Stock Company

 

 

Line of Business :

Offshore traders of light fixtures and fittings.

 

 

No. of Employees :

5

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Off Shore Company

Payment Behaviour :

Unknown

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

A2

A2

 

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                         : DEBBAS CAPITAL OFFSHORE SAL

Country of Origin                                    : Lebanon

Legal Form                                            : Lebanese Offshore Joint Stock Company

Registration Date                                   : 8th July 2010

Commercial Registration Number            : 1804410, Beirut

Issued Capital                                        : LP 30,000,000

Paid up Capital                                      : LP 30,000,000

Total Workforce                         : 5

Activities                                               : Offshore traders of light fixtures and fittings.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

ARIC Credit Rating                                 : BB

 

 

 

COMPANY NAME

 

DEBBAS CAPITAL OFFSHORE SAL

 

 

ADDRESS

 

Registered & Physical Address

 

Building : Debbas Building, 3rd Floor

Area                 : Corniche Area

 

PO Box             : 110125

 

Town                 : Beirut

Country : Lebanon

 

Telephone         : (961-1) 584000 / 562284 / 445534

Facsimile          : (961-1) 445388

Email                : info@debbas.com.lb

 

Premises

 

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

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Nabil Abi Abdullah                                                                             Managing Director

 

·       Zayad Debbas                                                                                   Director

 

·       Cesar Debbas                                                                                   Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment: 8th July 2010

 

Legal Form                  : Lebanese Offshore Joint Stock Company

 

Commercial Reg. No.  : 1804410, Beirut

 

Issued Capital              : LP 30,000,000

 

Paid up Capital            : LP 30,000,000

 

Name of Shareholder (s)                                              Percentage

 

·       Debbas Holding Sal                                                               99.70%

PO Box: 110125

Beirut

     Tel: (961-1) 584000 / 562284 / 445534

     Fax: (961-1) 445388

 

·       Nabil Abi Abdullah                                                     ]

                                                                                    ]

·       Zayad Debbas                                                           ]             0.30%

                                                                                    ]

·       Cesar Debbas                                                           ]

 

 

AFFILIATED COMPANIES

 

Subject is a member of the Debbas Group, which consists of the following concerns:

 

·       Debbas Industries Co Sal

Debbas Building, 1st Floor

Mkalles

PO Box: 110125

Beirut

Tel: (961-1) 601322 / 496801 / 283984

Fax: (961-1) 601320

Mob: (961-3) 624888

 

·       Debbas Enterprise Sal

Debbas Building, 4th Floor

Mkalles

PO Box: 110125

Beirut

Tel: (961-1) 394944 / 390740

Fax: (961-1) 445388

 

·       Debbas Systems Sal

PO Box: 110125

Beirut

Tel: (961-1) 585000 / 442740

Fax: (961-1) 447562 / 442756

 

·       Getco Sal

Debbas Building

PO Box: 110125

Beirut

 

·       Nardeen Lighting

PO Box: 50743

Riyadh 11533

Saudi Arabia

Tel: (966-1) 4765814

Fax: (966-1) 4762646

 

·       Bin Moosa Debbas Trading Co LLC

PO Box: 46824

Abu Dhabi

United Arab Emirates

Tel: (971-2) 393100

Fax: (971-2) 393200

 

·       Debbas Electric LLC

Al Ghurair Centre

PO Box: 6999

Dubai

United Arab Emirates

Tel: (971-4) 232000

Fax: (971-4) 221286

 

·       Debbas Contracting & Trading Co Ltd

Al Ghurair Centre, 6th Floor, Office No. 634

     Al Wasit Street

     Deira

     PO Box: 6999

     Dubai

     United Arab Emirates

     Tel: (971-4) 2232000

     Fax: (971-4) 2221286

 

·       Emirates Lighting Factory

Mussafah

PO Box: 45702

     Abu Dhabi

     United Arab Emirates

     Tel: (971-2) 555690

     Fax: (971-2) 542664

 

·       Bin Moosa & Daly Limited WLL

PO Box: 307

     Abu Dhabi

     United Arab Emirates

     Tel: (971-2) 772670

     Fax: (971-2) 728169

 

·       Bin Moosa Contracting

PO Box: 716

     Abu Dhabi

     United Arab Emirates

     Tel: (971-2) 263377

 

·       Bin Moosa Group

PO Box: 716

     Abu Dhabi

     United Arab Emirates

     Tel: (971-2) 263666

     Fax: (971-2) 263338

 

·       Bin Moosa Rent A Car

PO Box: 716

     Abu Dhabi

     United Arab Emirates

     Tel: (971-2) 263666

 

·       Bin Moosa Travels

PO Box: 716

     Abu Dhabi

     United Arab Emirates

     Tel: (971-2) 263666

 

·       Arlus SA

Centre Evolic

Les Gresillons

30 Rue Alexandre

92230 Gennevilliers

France

Tel: (33-1) 47910334

     Fax: (33-1) 40863736

 

·       Sonimetal

Zone Industrielle Les Glenons

58260 La Machine

France

Tel: (33-3) 86508112

Fax: (33-3) 86509422

 

·       Debbas & Co

Damascus Tower, 7th Floor

Al Bahsa

Damascus

Syria

Tel: (963-11) 2320184

Fax: (963-11) 2320160

 

·       Cesar Debbas et Fils Sal

516 Corniche du Fleuve

PO Box: 110125

Beirut

Tel: (961-1) 442740 / 442742 / 447562 / 585186

Fax: (961-1) 449539 / 447562

 

·       Linx Sarl

PO Box: 110125

Beirut

Tel: (961-1) 442740

Fax: (961-1) 447562

 

 

OPERATIONS

 

Activities: Engaged as offshore traders of light fixtures and fittings.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 5 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

 

·       Byblos Bank Sal

PO Box: 115605

Beirut

Tel: (961-1) 898200

Fax: (961-1) 898209

 

·       Banque Audi Sal

Ashrafieh Branch

PO Box: 112560

Beirut

Tel: (961-1) 200250 / 200251

Fax: (961-1) 200955

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

 

GENERAL COMMENTS

 

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.54.99

UK Pound

1

Rs.87.21

Euro

1

Rs.70.22

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

s

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.