|
Report Date : |
20.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
NAGGIAR TRADING SAL |
|
|
|
|
Registered Office : |
Naggiar
Building, 6 Nagib Hobeika Street, Saifi Sector 175415, Beirut
2029 6406 |
|
|
|
|
Country : |
Lebanon |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
24.12.1980 |
|
|
|
|
Com. Reg. No.: |
43320,
Beirut |
|
|
|
|
Legal Form : |
Lebanese Joint
Stock Company |
|
|
|
|
Line of Business : |
Engaged in the import and distribution of metals and non ferrous
metals, building materials, welding equipment, machine tools, architectural
products, and packaging materials. |
|
|
|
|
No. of Employees : |
42 |
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 : NAGGIAR
TRADING SAL
Country of Origin : Lebanon
Legal Form :
Lebanese Joint Stock Company
Start Date :
1860
Registration Date : 24th
December 1980
Commercial
Registration Number : 43320, Beirut
Issued Capital : LP
2,760,000,000
Paid up Capital : LP
2,760,000,000
Total Workforce : 42
Activities :
Import and distribution of metals and non ferrous metals, building materials,
welding equipment, machine tools, architectural products, and packaging materials
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
NAGGIAR TRADING SAL
Building : Naggiar
Building
Street : 6 Nagib
Hobeika Street
Area : Saifi
Sector
PO Box : 175415
Town : Beirut 2029 6406
Country : Lebanon
Telephone : (961-1) 562652
Facsimile : (961-1) 448391
Email : contact@naggiar.net
Subject operates from
a medium sized suite of offices and a warehouse that are owned and located in
the Suburban Business Area of Beirut.
Name Position
·
Farid J Y Naggiar Chairman
·
Fady J
Y Naggiar Director
·
Nadim J Y Naggiar Director
·
Ralph J
Y Naggiar Director
·
Roy J Y Naggiar Director
·
Maya Naggiar Director
Date of Establishment : Subject’s
operations date back to 1860, however it was registered on 24th
December 1980
Legal Form :
Lebanese Joint Stock
Company
Commercial Reg. No. : 43320, Beirut
Issued Capital : LP 2,760,000,000
Paid up Capital : LP 2,760,000,000
·
Farid J Y Naggiar
·
Fady J
Y Naggiar
·
Nadim J Y Naggiar
·
Ralph J
Y Naggiar
·
Roy J Y Naggiar
·
Maya Naggiar
·
Naggiar
Qatar WLL
Al Haya Commercial Centre
Salwa Road
PO Box: 22211
Doha
Qatar
Tel: (974) 44687373
Fax: (974) 44689696
Activities: Engaged in the import and distribution of metals
and non ferrous metals, building materials, welding
equipment, machine tools,
architectural products, and packaging materials.
Import
Countries: Italy, France,
Germany, Belgium, United Kingdom, Spain, United States of America and China,
Taiwan
Brand Names: SATMA, ALCAN SINGEN, KME, ESSEX, TKES,
NYSTAR, GANTOIS, TRACTEL, MORRIS, RUYI,
HACO, SECALT, GOODWIN, SIP, FEMA, GENIE,
MPS, BYMAT, ALUCOMAT, HORIZAL,
WALTERMANN, ASTEC, PROMESH, CEISA and
SILGAN.
Operating Trend: Steady
Subject has a
workforce of 42 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 8,900,000,000 LP 9,125,000,000
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
·
Banque
Audi Sal
Ashrafieh Branch
PO Box: 112560
Beirut
Tel: (961-1) 200250 / 200251
Fax: (961-1) 200955
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.61.78 |
|
|
1 |
Rs.99.56 |
|
Euro |
1 |
Rs.83.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.