MIRA INFORM REPORT

 

 

Report Date :

26.03.2013

 

IDENTIFICATION DETAILS

 

Name :

AL WALID PLAST CO SARL

 

 

Registered Office :

Gallerie Seman, American Street (St Traiza), Hadath, Beirut

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

26.11.2007

 

 

Com. Reg. No.:

2011479, Baabda

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Distributors of packaging materials and disposables

 

 

No. of Employees :

10

 

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 :

Usually Correct 

 

 

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

(31.03.2012)

Current Rating

(30.06.2012)

Lebanon

C1

C1

 

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 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

 

 

SUMMARY

 

Company Name                                    : AL WALID PLAST CO SARL

Country of Origin                                   : Lebanon

Legal Form                                           : Limited Liability Company

Registration Date                                  : 26th November 2007

Commercial Registration Number           : 2011479, Baabda

VAT Number                                         : 1601474

Issued Capital                                       : LP 5,000,000

Paid up Capital                                     : LP 5,000,000

Total Workforce                                     : 10

Activities                                               : Distributors of packaging materials and disposables.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Walid Mohamed Hamdan, Managing Director

 

 

COMPANY NAME

 

AL WALID PLAST CO SARL

 

 

Company ADDRESS

 

Registered & Physical Address

Building            : Gallerie Seman

Street               : American Street (St Traiza)

Area                 : Hadath

Town                : Beirut

Country             : Lebanon

Telephone         : (961-5) 464034

Facsimile          : (961-5) 464085

Mobile              : (961-3) 611310 / (961-70) 611307

Email                : info@alwalidplast.com

 

Premises

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Beirut.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

·       Walid Mohamed Hamdan                                                                  Managing Director

·       Mohamed Hamdan                                                                           Director

·       Nariman Hussain Hamdan                                                                 Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 26th November 2007

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.   : 2011479, Baabda

 

VAT No.                       : 1601474

 

Issued Capital              : LP 5,000,000

 

Paid up Capital            : LP 5,000,000

 

Name of Shareholder (s)

·       Walid Mohamed Hamdan

·       Mohamed Hamdan

·       Nariman Hussain Hamdan

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of packaging materials and disposables, including paper and plastic bags, boxes, crockery, cutlery, trays, plastic containers and wrapping film.

 

Import Countries: Saudi Arabia, China, Thailand, United Arab Emirates and Egypt.

 

Agencies Held:

 

·       Watania Plastic                     Saudi Arabia

·       Phoenix for Rubber              Thailand

·       El Tawfiqiya Plastic              Egypt

 

International Suppliers:

 

·       Shamin                                China

·       Chindawo                             China

·       Emex                                   China

·       SABIC                                  Saudi Arabia

·       Egyptian Kuwaiti Co             Egypt

·       El Ahram Plastic Co              Egypt

·       Crystal Foam                        Jordan

·       Qatar Plastic                        Qatar

 

Operating Trend: Steady

 

Subject has a workforce of 10 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United States Dollars (US$)

 

                                                Year Ending 31/12/11:               Year Ending 31/12/12:

 

Total Revenue                           US$ 4,360,000                           US$ 5,000,000

 

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

 

The above figures were provided by Mr Walid Mohamed Hamdan, Managing Director

 

BANKERS

 

·       Credit Libanais Sal

PO Box: 166729

Beirut

Tel: (961-1) 200028 / 201292

Fax: (961-1) 602615

 

 

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.54.09

UK Pound

1

Rs.82.47

Euro

1

Rs.70.49

 

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%)

 

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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.