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Report Date : |
17.12.2013 |
IDENTIFICATION DETAILS
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Name : |
LIGHT METAL PRODUCTS SAL |
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Registered Office : |
Tiro Road, Choueifate,
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Country : |
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Financials (as on) : |
31.12.2012 |
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Year of Establishments: |
1955 |
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Com. Reg. No.: |
6098, |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Manufacturers of metal casks, drums, ring pulls, cans and boxes. |
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No. of Employees : |
68 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Lebanon |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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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 : LIGHT METAL PRODUCTS SAL
Country of Origin : Lebanon
Legal Form : Lebanese Joint Stock Company
Registration Date : 1955
Commercial Registration Number : 6098, Beirut
VAT Number : 6284
Issued Capital : LP 900,000,000
Paid up Capital : LP 900,000,000
Total Workforce : 68
Activities : Manufacturers of metal casks, drums, ring pulls, cans and boxes.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Adnan S Harb, Finance Manager
LIGHT METAL
PRODUCTS SAL
Registered &
Physical Address
Street : Tiro Road
Area : Choueifate
PO Box : 113624
Town : Beirut
Country : Lebanon
Telephone : (961-5) 480444 / 480450 / 432010
Facsimile : (961-5) 480451
Mobile : (961-3) 200520 / 223144
Email : lmp@cyberia.net.lb / lmp@lmp.com.lb
Premises
Subject operates
from a suite of offices and a factory covering 50,000 square metres that are
owned and located in the Industrial Area of Beirut.
Name Position
·
Maroun
Asmar Chairman
·
Aref
Mneimne Director
·
Laurent
Dondin Director
·
Walid A
Salhab General
Manager
·
Adnan S
Harb Finance
Manager
·
Makram
Beydoun Procurement
Manager
·
Diana
Abu Zulof Marketing
Manager
·
Elias
Farah IT
Manager
·
Mohamed Al Moosh Technical
Manager
Date of Establishment : 1955
Legal Form :
Lebanese Joint Stock
Company
Commercial Reg. No. : 6098, Beirut
VAT
No. : 6284
Issued Capital : LP 900,000,000
Paid up Capital : LP 900,000,000
·
Maroun
Asmar
·
Laurent
Dondin
·
Aref
Mneimne
·
Crown
Packing Netherlands
The Netherlands
·
MIB
Investment Sal
Activities: Engaged in the manufacture of metal casks,
drums, ring pulls, cans and boxes.
Subject is ISO 9001 accredited.
Import
Countries: France, Italy,
Switzerland, Germany and the United Kingdom.
Export
Countries: Syria, Jordan
and Cyprus
Operating Trend: Steady
Subject has a
workforce of 68 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 12,325,000,000 LP 12,850,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Libano Francaise Sal
PO Box: 11808
Beirut
Tel: (961-1) 200493 / 200490
Fax: (961-1) 200494 / 348845
·
Banque
de la Mediterranee SAL
PO Box: 11348
Beirut
Tel: (961-1) 866925
Fax: (961-1) 866925
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.62.10 |
|
|
1 |
Rs.101.27 |
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Euro |
1 |
Rs.85.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation
is considered normal. Capable to meet normal commitments. |
Satisfactory |
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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.