MIRA INFORM REPORT

 

 

Report Date :

01.10.2013

 

IDENTIFICATION DETAILS

 

Name :

LES FILS DE CHAFIC HALWANY SARL

 

 

Registered Office :

Al Tager Building, 3rd Floor, Apt 301 & 304, Clemenceau Street, Kantari Sector, PO Box            : 117135 Beirut

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2012

 

 

Date of Incorporation :

1972

 

 

Com. Reg. No.:

54489, Beirut

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Processors of meat, poultry and seafood, canners and bottlers of fruit and vegetables.

 

 

No. of Employees :

100

 

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

 

SUMMARY

 

Company Name                                    : LES FILS DE CHAFIC HALWANY SARL

Country of Origin                                   : Lebanon

Legal Form                                           : Limited Liability Company

Start Date                                             : 1972

Registration Date                                  : 4th August 1988

Commercial Registration Number           : 54489, Beirut

VAT Number                                         : 2704

Issued Capital                                       : LP 5,000,000

Paid up Capital                                     : LP 5,000,000

Total Workforce                                     : 100

Activities                                               : Processors of meat, poultry and seafood, canners and bottlers of fruit   and vegetables.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Hani Mahmassani, Purchasing Manager

COMPANY NAME

 

LES FILS DE CHAFIC HALWANY SARL

 

 

ADDRESS

 

Registered & Physical Address

 

Building            : Al Tager Building, 3rd Floor, Apt 301 & 304

Street               : Clemenceau Street

Area                 : Kantari Sector

PO Box            : 117135

Town                : Beirut

Country             : Lebanon

 

Telephone         : (961-1) 360361 / 364817

Facsimile          : (961-1) 360362

Mobile              : (961-3) 226423

Email                : fch@cyberia.net.lb / info@halwany.com  / chafic.halwany@halwany.com / hani@halwany.com

 

Premises

 

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

 

Branch Office (s)

 

Location                                                                                               Description

 

Bchamoun Industrial Area                                                                      Owned factory premises

Tel: (961-5) 808040

 

 

KEY PRINCIPALS

 

Name                                                                                                   Position

 

Chafic S Halwany                                                                                  Managing Director

 

Souheila Halwany                                                                                  Director

 

Abdelrahman A Halwany                                                                        Finance Manager

 

Wajdi Safi                                                                                             Sales Manager

 

Camil Ishak                                                                                           Export Manager

 

Bilal Demashkieh                                                                                   Marketing Manager

 

Hani Mahmassani                                                                                  Purchasing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1972, however subject was registered on 4th August 1988

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.   : 54489, Beirut

 

VAT No.                       : 2704

 

Issued Capital              : LP 5,000,000

 

Paid up Capital            : LP 5,000,000

 

Name of Shareholder (s)

 

Chafic S Halwany

 

Souheila Halwany

 

 

AFFILIATED COMPANIES

 

C-Food International (Offshore) SAL

Block C, Site 601C

Gefinor Center

Clemenceau Street

Beirut

Tel: (961-1) 352353

Fax: (961-1) 352353

 

 

OPERATIONS

 

Activities:                     Engaged as processors of meat, poultry and seafood, canners and bottlers of fruit and vegetables.

 

Import Countries:         Europe, China, Thailand, New Zealand and the United States of America

 

International Suppliers:

 

Sadia                Brazil

AFCO Meat       New Zealand

Rotzo               Belgium

 

Export Countries:         GCC countries, Iraq, Romania and Bosnia and Herzegovina

 

Brand Names:              FRUMER, BELLA, PLEIN SOLEIL, POM D’OR, SIBLOU, PACKFISH, GREENS, PPCS, VITACUIRE, LUTOSA, SADIA and FRIBOI.

 

Operating Trend:          Steady

 

Subject has a workforce of 100 employees.

 

 

FINANCIAL DATA

 

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 15,100,000,000                     LP 16,000,000,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

Byblos Bank

Byblos Tower Building

Elias Sarkis Avenue

Ashrafieh

PO Box: 115605

Beirut

Tel: (961-1) 335200

Fax: (961-1) 339436

 

Banque Audi Sal

Ashrafieh Branch

PO Box: 112560

Beirut

Tel: (961-1) 200250 / 200251

Fax: (961-1) 200955

 

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                                October 2005

Credit amount                                       50,000

Amount overdue                                    0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                       No Complaints

Currency                                               Pounds Sterling

 

 

GENERAL COMMENTS

 

Established in 1972, subject is owned and managed by members of the Halwany family who are well respected in the local business community.

 

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.62.78

UK Pound

1

Rs.101.42

Euro

1

Rs.84.67

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.