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Report Date : |
04.12.2013 |
IDENTIFICATION DETAILS
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Name : |
TAPIS MAHMOUD KABALAN SARL |
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Registered Office : |
Iss Building Yousef Al Assir Street Zkaka Hawd Wilaya Area PO Box
117535 Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
21.08.1978 |
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Com. Reg. No.: |
48764, Beirut |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the import and distribution of carpets, rugs,
parquet flooring, wallpaper, blankets and furniture. |
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No. of Employees : |
95 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Lebanon |
B2 |
B2 |
|
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 : TAPIS MAHMOUD KABALAN SARL
Country of Origin : Lebanon
Legal Form : Limited Liability Company
Date Established : 1978
Registration Date : 21st August 1984
Commercial Registration Number : 48764, Beirut
Issued Capital : LP 20,000,000
Paid up Capital : LP 20,000,000
Total Workforce : 95
Activities : Distributors of carpets, rugs, parquet flooring, blankets, wallpaper and
furniture
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
TAPIS MAHMOUD KABALAN SARL
Building : Iss Building
Street : Yousef Al
Assir Street
Area : Zkaka Hawd
Wilaya Area
PO Box : 117535
Town : Beirut
Country : Lebanon
Telephone : (961-1) 652229
/ 652230 / 652231 / 666227
Facsimile : (961-1) 631104
Mobile : (961-3)
332283 / 629009
Email : kabalan@kabalan.com
Subject operates from a medium sized suite of offices and a showroom
that are rented and located in the Central Business Area of Beirut.
Branch Office (s)
Location Description
· Chtaura Showroom
premises
Taanayel
Tel: (961-8)
544824
Fax: (961-8)
545656
· Al Hadath Showroom
premises
Saint Therez
Tel: (961-5)
470375 / 467740
· Bridge Salim Salam Showroom
premises
Beirut
Tel: (961-1)
652229 / 652230
· Msayleh Showroom
premises
Tel: (961-7)
261111
· Meis El Jabal Showroom
premises
Tel: (961-7)
866088
· Tyr Showroom
premises
Jal El Baher
Tel: (961-7)
344255
· Khaldeh Highway Showroom
premises
Tel: (961-5)
800172
Name Position
· Ibrahim Mahmoud
Kabalan Managing
Director
· Hussein Mahmoud
Kabalan Director
· Murtada Mahmoud
Kabalan Director
· Mustafa Mahmoud
Kabalan Director
· Olaa Issa Administration
Executive
Date of
Establishment : 1978, however
subject was registered on 21st August 1984
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 48764, Beirut
Issued Capital : LP 20,000,000
Paid up Capital : LP 20,000,000
· Ibrahim Mahmoud
Kabalan
· Hussein Mahmoud
Kabalan
· Murtada Mahmoud
Kabalan
· Mustafa Mahmoud
Kabalan
· Lebanese Weavers
Co Sarl
Nabatieh
Tel: (961-7)
506660
Fax: (961-7)
506665
· 4K Trading Sarl
Ghobeiri
Tel: (961-1)
853153
Fax: (961-1)
853353
Activities: Engaged in the import and distribution of carpets, rugs, parquet
flooring, wallpaper, blankets and furniture.
Import Countries: Europe, India, China, Turkey, Belgium, Italy,
Germany, Pakistan and Iran.
Agencies Held:
· Kronotex Germany
· Estrit Germany
· Balta Belgium
· Posh Fashion
Nation Belgium
Brand Names: KRONOTEX, BALTA, MERINOS, ITC, ADNC, DOMO,
STANDARDS, TURKUAZ, POSH,
GRANDECO, PS and ESPRIT
Operating Trend: Steady
Subject has a workforce of 95 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 Sales LP
19,500,000,000 LP
19,720,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Blom Bank Sal
Al Daber Building
Abdel Aziz Street
PO Box: 111912
Beirut
Tel: (961-1) 346290 / 863830 / 371898
Fax:
(961-1) 364133
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.34 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.46 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
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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 |
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<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.