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Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
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Name : |
KHONAYSSER MOTORS SARL |
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Registered Office : |
Khonaysser Motors
Building, Main Road, Nahr El Mot, Kassarat Area, P O Box 70268, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
55377, Baabda |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Distributors of agricultural, horticultural and forestry machinery equipment, electrical and electronic products, harbour and ship equipment |
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No. of Employees : |
75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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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 the 1-2% range in
2011-12, 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 : KHONAYSSER MOTORS SARL
Country of Origin : Lebanon
Legal Form : Limited Liability Company
Registration Date : 1996
Commercial Registration Number : 55377, Baabda
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
Total Workforce : 75
Activities : Distributors of agricultural, horticultural and forestry machinery and
equipment, electrical and electronic products, harbour and ship
equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
KHONAYSSER MOTORS
SARL
Registered &
Physical Address
Building : Khonaysser Motors Building
Street : Main Road
Area : Nahr El Mot, Kassarat Area
PO Box : 70268
Town : Beirut
Country : Lebanon
Telephone : (961-1) 870078
Facsimile : (961-1) 874795
Mobile : (961-3) 250958
Premises
Subject operates
from a medium sized suite of offices that are owned and located in the Central
Business Area of Beirut.
Branch Office (s)
Location Description
·
Industrial
City Showroom
premises
Zahleh
Tel: (961-8) 930081
Name Position
·
Antoine
H Khonaysser Managing
Director
Date of Establishment : 1996
Legal Form :
Limited Liability Company
Commercial Reg. No. : 55377, Baabda
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
Name of
Shareholder (s)
·
Antoine
H Khonaysser
·
Members
of the Khonaysser family
·
Qatar
Generators Est
Warehouse No. 124, Street No. 26
Salwa Industrial Area
Doha
Qatar
Tel: (974) 6547793 / 5967727
·
Khonaysser
& Co
60th Street
Erbil
Iraq
Tel: (964) 7700444455
Fax: (964) 7700444466
Activities: Engaged in the import and distribution of
agricultural, horticultural and forestry machinery and equipment, electrical
and electronic products, harbour and ship equipment.
Import Countries: Sweden, Germany, United Kingdom, France and
Italy.
International
Suppliers:
·
Volvo
Penta Sweden
·
Volvo Sweden
·
Volvo Germany
·
Stamford United Kingdom
Export Countries: Iraq, Jordan, Kuwait, Oman, United Arab Emirates, Bahrain, Yemen, Sudan, South Africa, Liberia, Nigeria, Kazakhstan, Cyprus, Romania, Afghanistan, Ghana, Saudi Arabia, Congo, Egypt and Syria.
Operating Trend: Steady
Subject has a
workforce of 75 employees.
Financial highlights
provided by local sources are given below:
Currency: Lebanese
Pounds (LP)
Year
Ending 31/12/11: Year
Ending 31/12/12:
Total Revenue LP 7,325,000,000 LP 7,870,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Beirut Sal
Clemanceau Street
PO Box: 117354
Beirut
Tel: (961-1) 360850 / 350723
Fax: (961-1) 360850
·
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.
According to local sources,
subject meets its payment obligations in a timely manner and the company is
considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.94 |
|
UK Pound |
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
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 |
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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 |
|
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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.