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Report Date : |
04.12.2014 |
IDENTIFICATION DETAILS
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Name : |
ABOU MERHI HOSPITALITY SAL |
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Registered Office : |
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Country : |
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Date of Incorporation : |
16.05.2005 |
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Com. Reg. No.: |
1500255, |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Engaged in the operation of 4 star residential apartments and hotel. |
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No of Employees : |
75 |
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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Maximum Credit Limit : |
US$ 200,000 |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Lebanon |
B2 |
B2 |
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Risk Category |
ECGC Classification |
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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,
which saddled 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
MIKATI government in early 2011 over its backing of the Special Tribunal for
Lebanon and the conflict in neighboring Syria slowed economic growth to the
1-2% range in 2011-13, after four years of 8% average growth. In September 2011
the Cabinet endorsed a bill that would provide $1.2 billion in funding to
improve Lebanon's downtrodden electricity sector, but fiscal limitations will
test the government's ability to invest in other areas, such as water.
|
Source
: CIA |
Company Name :
ABOU MERHI HOSPITALITY SAL
Also Known As :
ORIENTS QUEEN HOMES
Country of Origin :
Lebanon
Legal Form :
Lebanese Joint Stock Company
Registration Date :
16th May 2005
Commercial Registration Number :
1500255, Beirut
VAT Number :
601-130639
Issued Capital :
LP 30,000,000
Paid up Capital :
LP 30,000,000
Total Workforce :
75
Activities :
Operators of 4 star residential apartments and hotel
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 200,000
Person Interviewed :
Bashar Jaffar, Financial
Controller
ABOU MERHI HOSPITALITY SAL
ALSO KNOWN AS: ORIENTS QUEEN
HOMES
Location : John Kennedy
Street 56526, Ras Beirut
PO Box : 116240
Town : Beirut
Country : Lebanon
Telephone : (961-1) 361140
Facsimile : (961-1) 361141
Email : info@orientqueenhomes.com
Subject operates from a large suite of offices that are rented and
located in the Central Business Area of Beirut.
Name Position
· Merhi Abou Merhi Chairman
· Ahmed Sebita Managing
Director
· Atif Merhi Abou Merhi Director
· Hana Merhi Abou Merhi Director
· Huwaida Abou Merhi Director
· Michael Oun General
Manager
· Bashar Jaffar Financial
Controller
Date of
Establishment : 16th
May 2005
Legal Form : Lebanese Joint Stock
Company
Commercial Reg.
No. : 1500255, Beirut
VAT No. : 601-130639
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
· Merhi Abou Merhi
· Atif Merhi Abou Merhi
· Hana Merhi Abou Merhi
· Huwaida Abou Merhi
· 588 Al Hilaliyah Real Estate Sal
Lebanon
· Abou Merhi Lines Sal (Off-Shore)
Lebanon
· Abou Merhi Cruises (AMC) Sal
· Le Mall
· Intercontinental
Bank Lebanon
· Abou Merhi Charity
· Abou Merhi Travel
Activities: Engaged in the operation of 4 star residential apartments and hotel.
Subject has a workforce of 75 employees.
Companies registered in Lebanon are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
·
Banque Audi Sal
Ashrafieh Branch
PO Box: 112560
Beirut
Tel: (961-1)
200250 / 200251
Fax:
(961-1) 200955
·
Intercontinental Bank of Lebanon Sal
PO Box: 115292
Ashrafieh
Beirut
Tel: (961-1)
200352
Fax: (961-1)
204505
No complaints regarding subject’s payments have been reported.
Recommended credit limit: US$
200,000
According to local sources, subject meets its payment obligations in a
timely manner and the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.89 |
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|
1 |
Rs.96.83 |
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Euro |
1 |
Rs.76.57 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
SMN |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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 |
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-- |
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.