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Report Date : |
02.10.2012 |
IDENTIFICATION DETAILS
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Name : |
FLEXOPRINT
FOUNDATION |
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Formerly Known As : |
FLEXOPRINT PACKAGING & INDUSTRIAL COMPANY |
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Registered Office : |
Dekwaneh
Industrial Zone, Metn, 70275 Beirut |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Printers of
flexible packaging and film |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : FLEXOPRINT
FOUNDATION
Also Known As : FLEXOPRINT PACKAGING & INDUSTRIAL COMPANY
Country of Origin : Lebanon
Legal Form :
Sole Proprietorship
Registration Date : 1996
Invested Capital : LP
3,500,000
Total Workforce : 25
Activities :
Printers of flexible packaging and film
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Habib Gaga,
Proprietor & General Manager
FLEXOPRINT
FOUNDATION
ALSO KNOWN AS: FLEXOPRINT
PACKAGING & INDUSTRIAL COMPANY
Location : Dekwaneh Industrial Zone, Metn
PO Box : 70275
Town : Beirut
Country : Lebanon
Telephone : (961-1) 490450
Facsimile : (961-1) 490450
Mobile : (961-3) 450900
Email : habibgago@hotmail.com
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Beirut.
Name Position
·
Habib
Gaga Proprietor
& General Manager
·
Rita
Gaga Administrative
Secretary
Date of Establishment : 1996
Legal Form :
Sole Proprietorship
Invested Capital
: LP 3,500,000
Mr Habib Gaga is
the sole proprietor of the business.
Activities: Engaged in the printing of flexible
packaging and film.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 25 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 4,050,000,000 LP 4,175,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Beirut
Riyad Bank Sal
Main Branch
PO Box: 114668
Beirut
Tel: (961-1) 645702 / 867360
Fax: (961-1) 867426
No complaints regarding
subject’s payments have been reported.
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.52.78 |
|
|
1 |
Rs.85.16 |
|
Euro |
1 |
Rs.67.78 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.