MIRA INFORM REPORT

 

 

Report Date :

08.08.2013

 

IDENTIFICATION DETAILS

 

Name :

SAKR POWER SYSTEMS SAL

 

 

Registered Office :

Kartaba Road Halate PO Box 98 Jbeil

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

11.12.1996

 

 

Com. Reg. No.:

59022, Beirut

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

Line of Business :

Assembly and distribution of power generators, generator sets and spare parts

 

 

No. of Employees :

400

 

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 :

Good

Payment Behaviour :

Regular

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Lebanon

B2

B2

 

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 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

 

 

SUMMARY

 

Company Name                                     : SAKR POWER SYSTEMS SAL

Country of Origin                                    : Lebanon

Legal Form                                            : Lebanese Joint Stock Company

Registration Date                                   : 11th December 1996

Commercial Registration Number            : 59022, Beirut

Issued Capital                                        : LP 30,000,000

Paid up Capital                                      : LP 30,000,000

Total Workforce                                     : 400

Activities                                               : Assembly and distribution of power generators, generator sets and spare parts

Financial Condition                                 : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

Person Interviewed                                 : Savio Bejjain, Financial Controller

 

 

 

COMPANY NAME

 

SAKR POWER SYSTEMS SAL

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Kartaba Road

Area                 : Halate

 

PO Box             : 98

 

Town                 : Jbeil

Country             : Lebanon

 

Telephone         : (961-9) 444888 / 444777 / 444666

Facsimile          : (961-9) 445444

Email                : info@sakr.com

 

Premises

 

Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Jbeil.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Sakr Antonius Sakr                                                                           Managing Director

 

·       Anthony Sakr Antonius Sakr                                                              Director

 

·       Mrs Randa Sakr                                                                                Director

 

·       Ghatous Nakad                                                                                 Commercial Manager

 

·       Edward Dhager                                                                                 Finance Manager

 

·       Savio Bejjain                                                                         Financial Controller

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 11th December 1996

 

Legal Form                  : Lebanese Joint Stock Company

 

Commercial Reg. No.  : 59022, Beirut

 

VAT No.                       : 601-11540

 

Issued Capital              : LP 30,000,000

 

Paid up Capital            : LP 30,000,000

 

Name of Shareholder (s)

 

·       Sakr Antonius Sakr

 

·       Anthony Sakr Antonius Sakr

 

·       Mrs Randa Sakr

 

 

OPERATIONS

 

Activities: Engaged in the assembly and distribution of power generators, generator sets and spare parts.

 

Import Countries: United States of America, Germany, France and India

 

Brand Names: NBH

 

Operating Trend: Steady

 

Subject has a workforce of approximately 400 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United States Dollars (US$)

 

                                                Year Ending 31/12/07:                Year Ending 31/12/12:

 

Total Sales                                US$ 47,50,0000             US$ 50,000,000

 

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

 

The above financial figures were confirmed by Savio Bejjain, Financial Controller.

 

 

BANKERS

 

·       Byblos Bank Sal

PO Box: 115605

Beirut

Tel: (961-1) 898200

Fax: (961-1) 898209

 

·       Intercontinental Bank of Lebanon Sal

PO Box: 113270

Beirut

Tel: (961-1) 883464 / 883465

Fax: (961-1) 843119

 

·       Emirates Lebanon Bank

     Jbeil

 

 

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.61.39

UK Pound

1

Rs.94.17

Euro

1

Rs.81.70

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.