MIRA INFORM REPORT

 

 

Report Date :

06.12.2014

 

 

IDENTIFICATION DETAILS

 

Name :

ABOU MERHI CHARITY INSTITUTION (AMCI)

 

 

Registered Office :

Abou Merhi Street, Hilaliyah Area, 175016, Saida

 

 

Country :

Lebanon

 

 

Date of Incorporation :

19.07.2005

 

 

Legal Form :

Charitable Institution

 

 

Line of Business :

Engaged as a humanitarian charitable institution and non-profit public utility. Subject operates a 5-storey charitable polyclinic, radiology centre, X-ray centre, consultation clinic and pharmacy.

 

 

No of Employees :

200

 

 

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

 

Maximum Credit Limit :

US$ 200,000

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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, 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

 

 

SUMMARY

 

Company Name                                     : ABOU MERHI CHARITY INSTITUTION (AMCI)

Country of Origin                                    : Lebanon

Legal Form                                            : Charitable Institution

Registration Date                                   : 19th July 2005

Decree Number                                      : 4953

Total Workforce                                     : 200

Activities                                               : Operators of a charitable polyclinic, radiology centre, X-ray centre,

                                                              consultation clinic and pharmacy

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 200,000

 

COMPANY NAME

 

ABOU MERHI CHARITY INSTITUTION (AMCI)

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : Abou Merhi Street

Area                 : Hilaliyah Area

 

PO Box             : 175016

 

Town                 : Saida

Country             : Lebanon

 

Telephone         : (961-7) 758000

Facsimile          : (961-7) 758175

Email                : info@amci.ws

 

Premises

 

Subject operates from a large suite of offices, clinic and pharmacy that are rented and located in the Central Business Area of Saida.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Mrs Huwaid Abou Merhi                                                                     President

 

·       Merhi Abou Merhi                                                                              Director

 

·       Atif Merhi Abou Merhi                                                                        Director

 

·       Hana Merhi Abou Merhi                                                                     Director

 

·       Dr Mohamed Lutfy                                                                             Medical Director

 

·       Souad Al Bittar                                                                                 Finance Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 19th July 2005

 

Legal Form                  : Charitable Institution

 

Decree No.                   : 4953

 

Name of Shareholder (s)

 

·       Mrs Huwaid Abou Merhi

 

·       Merhi Abou Merhi

 

·       Atif Merhi Abou Merhi

 

·       Hana Merhi Abou Merhi

 

 

AFFILIATED COMPANIES

 

·       588 Al Hilaliyah Real Estate Sal

 

·       Abou Merhi Hospitality Sal

 

·       Abou Merhi Cruises (AMC) Sal

 

·       Le Mall

 

·       Intercontinental Bank Lebanon

 

·       Abou Merhi Lines Sal (Off-shore)

 

·       Abou Merhi Travel

 

 

OPERATIONS

 

Activities: Engaged as a humanitarian charitable institution and non-profit public utility. Subject operates a 5-storey charitable polyclinic, radiology centre, X-ray centre, consultation clinic and pharmacy.

 

Subject has a workforce of approximately 200 employees.

 

 

FINANCIAL DATA

 

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.

 

 

BANKERS

 

·       Blom Bank Sal

Riad Solh Street

Saida

Tel: (961-7) 724866

Fax: (961-7) 722801

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

CREDIT RATING

 

Recommended credit limit:                 US$ 200,000

 

 

GENERAL COMMENTS

 

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.61.85

UK Pound

1

Rs.96.73

Euro

1

Rs.76.53                                 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

SMN

 

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.