|
Report Date : |
07.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
YOUNES BROS SARL |
|
|
|
|
Registered Office : |
Youssef Azar Building,
Ground Floor,Al Takaddom Street, Antelias, Beirut |
|
|
|
|
Country : |
Lebanon |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Year of Establishments: |
1977 |
|
|
|
|
Com. Reg. No.: |
28197, Baabda |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Distributors of hydraulic and pneumatic machinery, pumps, electrical products and batteries. |
|
|
|
|
No. of Employees : |
15 |
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 : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 |
Company Name : YOUNES BROS SARL
Also Known As : MYCO GROUPE YOUNES
Country of Origin : Lebanon
Legal Form : Limited Liability Company
Registration Date : 1977
Commercial Registration Number : 28197, Baabda
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
Total Workforce : 15
Activities : Distributors of hydraulic and pneumatic machinery, pumps, electrical
products and batteries.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
YOUNES BROS SARL
MYCO GROUPE YOUNES
Registered &
Physical Address
Building : Youssef Azar Building, Ground
Floor
Street : Al Takaddom Street
Area : Antelias
Town : Beirut
Country : Lebanon
Telephone : (961-1) 414488
Facsimile : (961-1) 406088
Email : j.y.myco@sodetel.net.lb
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Beirut.
Branch Office (s)
Location Description
·
Mar
Elias Building Warehouse
premises
Nahr El Mote Area
Jdeideh
Tel: (961-1) 890617 / 901488
Fax: (961-1) 901588
·
Abou
Jaoudeh Building Office
premises
Main Road
Aucar
Tel: (961-3) 614931
Name Position
·
Maurice
Y Younes Managing
Director
·
Joseph
M Younes Director
·
Imad M
Younes Director
Date of Establishment : 1977
Legal Form :
Limited Liability Company
Commercial Reg. No. : 28197, Baabda
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
Name of
Shareholder (s)
·
Maurice
Y Younes
·
Joseph
M Younes
·
Imad M
Younes
Activities: Engaged in the import and distribution of
hydraulic and pneumatic machinery, pumps, electrical products and batteries.
Subject also acts as electrical installation contractors.
Import
Countries: Italy, Canada and
the Netherlands.
Brand Names : EUROPA 2000, CEMONT, ASTRA, TURHER, COMEC,
FLEX PRESSION, SISTEM BLOCK and
GGA
Operating Trend: Steady
Subject has a
workforce of 15 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 4,600,000,000 LP 4,875,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Fransabank
Sal
PO Box: 110393
Beirut
Tel: (961-1) 340180 / 354573
Fax:
(961-1) 354572
·
Banque
Saradar Sal
PO Box: 111121
Beirut
Tel: (961-1) 410351 / 413543
Fax: (961-1) 404490
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.56.87 |
|
UK Pound |
1 |
Rs.87.65 |
|
Euro |
1 |
Rs.74.52 |
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.