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Report Date : |
11.01.2013 |
IDENTIFICATION DETAILS
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Name : |
UNIVERSAL PAINTS & CHEMICAL INDUSTRIES SARL |
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Registered Office : |
Old Saida Road Industrial Area PO Box
135333 Beirut 1102203 |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2011 |
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Year of Incorporation : |
1979 |
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Com. Reg. No.: |
40228, Beirut |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers of paints and primers |
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No. of Employees : |
150 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Lebanon |
C1 |
C1 |
|
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 : UNIVERSAL PAINTS & CHEMICAL INDUSTRIES SARL
Trading As : CHEMIPAINTS SARL
Country of Origin : Lebanon
Legal Form : Limited Liability Company
Registration Date : 1979
Commercial Registration Number : 40228, Beirut
Issued Capital : LP 3,600,000
Paid up Capital : LP 3,600,000
Total Workforce : 150
Activities : Manufacturers of paints and primers
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
UNIVERSAL PAINTS & CHEMICAL INDUSTRIES SARL
TRADING AS: CHEMIPAINTS SARL
Street : Old Saida
Road
Area : Industrial
Area
PO Box : 135333
Town : Beirut
1102203
Country : Lebanon
Telephone : (961-5) 807020
Facsimile : (961-5) 800915
Mobile : (961-3)
653135 / 922211
Email : chemipaint@inco.com.lb
Subject operates from a medium sized suite of offices and a factory that
are owned and located in the Industrial Area of Beirut.
Branch Office (s)
Location Description
· Mahmoud Bizri
Building Owned
office premises
Al Hussein Street
Hamra
Beirut
· Dora Highway Showroom
premises
Bauchrieh
Tel: (961-1)
888203
· Abdu Dhabi Showroom
premises
United Arab
Emirates
Tel: (971-2)
2502099
· Erbil Showroom
premises
Iraq
Tel: (964-66)
2568319
Name Position
· Osama Mahmoud
Bizri Managing
Director
· Bassam Mahmoud
Bizri Director
· Wassim Mahmoud
Bizri Director
· Ghayath Mahmoud
Bizri Director
Date of
Establishment : 1979
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 40228, Beirut
Issued Capital : LP 3,600,000
Paid up Capital : LP 3,600,000
· Osama Mahmoud
Bizri
· Bassam Mahmoud
Bizri
· Wassim Mahmoud
Bizri
· Ghayath Mahmoud
Bizri
Activities: Engaged in the manufacture of architectural paint and primers, decorative
paint, epoxies, varnishes and high performance resins.
Subject is ISO 9001 accredited.
Import Countries: The Netherlands, Germany, France, United Kingdom
and the United States of America.
International Suppliers:
· John L Seaton
& Co Ltd United Kingdom
Agencies Held:
·
Hyde
·
Polyglass
Export Countries: Syria, Algeria, Egypt, Morocco, Africa and the
Middle East.
Brand Names: PANDA, DUTCH BOY, MIAMI and CHEMIPAINT
Operating Trend: Steady
Subject has a workforce of 150 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
7,100,000,000 LP
7,500,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bank of Lebanon & Kuwait
PO Box: 115566
Beirut
Tel: (961-1) 340270
·
Societe Nouvelle de la Banque de Syrie et du Liban
PO Box: 11957
Beirut
Tel: (961-1)
402420
Fax: (961-1)
405563 / 404561
·
Arab Bank Plc
PO Box: 111015
Beirut
Tel: (961-1) 370122 / 370155 / 862860
Fax: (961-1)
868130 / 602408
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.54.63 |
|
|
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.71.32 |
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 |
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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.