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Report Date : |
10.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
TURK STATIONERY |
|
|
|
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Registered Office : |
Turk Building, Ground Floor, Mar Elias Street, Mar Elias Sector, PO
Box: 146241, Beirut |
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|
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Country : |
Lebanon |
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|
|
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Financials (as on) : |
31.12.2012 |
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|
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Date of Incorporation : |
15.03.1977 |
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Com. Reg. No.: |
35267 |
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|
Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Manufacturers of paper stationery and distribution of
stationery, office requisites
and computers. |
|
|
|
|
No. of Employees : |
30 |
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 |
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|
|
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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 |
|
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 : TURK
STATIONERY
Country of Origin :
Lebanon
Legal Form :
Sole Proprietorship
Registration Date : 15th March
1977
Commercial Registration Number : 35267, Beirut
Invested Capital :
LP 240,000,000
Total Workforce :
30
Activities :
Manufacturers of paper stationery and distribution of stationery, office
requisites and computers.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
TURK STATIONERY
Registered &
Physical Address
Building : Turk
Building, Ground Floor
Street : Mar Elias
Street
Area : Mar Elias
Sector
PO Box : 146241
Town : Beirut
Country : Lebanon
Telephone : (961-1) 310166
Facsimile : (961-1) 310188
Mobile : (961-3)
631400
Premises
Subject operates from a medium sized suite of offices that are owned and
located in the Central Business Area of Beirut.
Name Position
Nabil Ramez Turk Proprietor
Wassim Nabil Turk General
Manager
Ramzi Nabil Turk Commercial
Manager
Date of Establishment : 15th
March 1977
Legal Form : Sole
Proprietorship
Commercial Reg. No. : 35267, Beirut
Invested Capital : LP 240,000,000
Mr Nabil Ramez Turk is the sole proprietor of the business.
Activities: Engaged in the manufacture
of paper stationery and import and distribution of stationery, office
requisites and computers.
Import Countries: Lebanon,
France, United Kingdom, Germany and Spain.
Export Countries: United States of America, Bahrain,
Syria, Jordan, United Arab Emirates, Qatar, Kuwait and Iraq.
Brand Names: TRILUX, HERAKLES, CONCORDE,
AMBASSADOR, LA COURONNE, SAVEBAG, LINER 212 and HOVAT
Operating Trend: Steady
Subject has a workforce of 30 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
6,275,000,000 LP
6,600,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
HSBC Bank Middle East
PO Box: 111380
Beirut
Tel: (961-1) 425296
Fax: (961-1) 425295
Byblos Bank
Byblos Tower Building
Elias Sarkis Avenue
Ashrafieh
PO Box: 115605
Beirut
Tel: (961-1) 335200
Fax: (961-1) 339436
Fransabank Sal
PO Box: 110393
Beirut
Tel: (961-1) 340180 / 354573
Fax: (961-1) 354572
No complaints regarding subject’s payments have been reported.
According to local sources, subject enjoys a good reputation for the
quality of its products with nothing detrimental uncovered regarding the manner
in which operations are conducted. As such the business is considered to be a
fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.96 |
|
|
1 |
Rs.102.91 |
|
Euro |
1 |
Rs.86.58 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.