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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
RAMTEX GENERAL TRADING CO SNC |
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Registered Office : |
Tamara Building, Ground Floor Khoury Avenue Bechara Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
67853, Beirut |
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Legal Form : |
General Partnership |
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Line of Business : |
Wholesalers and retailers of curtains and textile furnishings |
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No. of Employees : |
09 |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Lebanon |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
|
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 : RAMTEX GENERAL TRADING CO SNC
Country of Origin : Lebanon
Legal Form : General Partnership
Registration Date : 1994
Commercial Registration Number : 67853, Beirut
Partners Capital : LP 10,000,000
Total Workforce : 9
Activities : Wholesalers and retailers of curtains and textile furnishings
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
RAMTEX GENERAL TRADING CO SNC
Building : Tamara
Building, Ground Floor
Street : Khoury
Avenue
Area : Bechara
Town : Beirut
Country : Lebanon
Telephone : (961-1) 632703
/ 648237
Facsimile : (961-1) 648236
Subject operates from a small suite of offices and a showroom that are
rented and located in the Central Business Area of Beirut.
Name Position
· Hassan M Ramadan Managing
Partner
· Lama H Ramadan Partner
Date of
Establishment : 1994
Legal Form : General
Partnership
Commercial Reg.
No. : 67853, Beirut
Partners Capital : LP 10,000,000
· Hassan M Ramadan
· Lama H Ramadan
Activities: Engaged in the wholesale and retail of curtains and textile
furnishings.
Import Countries: China, Europe and the United States of America.
Brand Names: RAMTEX
Operating Trend: Steady
Subject has a workforce of 9 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 Sales LP
3,110,000,000 LP
3,200,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Byblos Bank Sal
PO Box: 115605
Beirut
Tel: (961-1)
898200
Fax: (961-1)
898209
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 business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
|
|
1 |
Rs.99.06 |
|
Euro |
1 |
Rs.83.84 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
|
-- |
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.