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Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
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Name : |
METS ENERGY SAL |
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Registered Office : |
Bchamoun Road,
Choueifate, P O Box 1137354, Beirut
1103-2170 |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
19.07.1988 |
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Com. Reg. No.: |
2011327, Baabda |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Engaged in the
manufacture and assembly of generators, fire safety equipment, cleaning
machinery and marine turbines. Subject also provides repair and maintenance
services. Subject also supplies sound proof and weather proof canopies, control panels, distribution and synchronizing panels, lightning and surge protection devices as well as fuel tanks, Separ fuel / water separators and exhaust purifiers in addition to VM marine engines and accessories. |
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No. of Employees : |
190 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Lebanon |
B2 |
B2 |
|
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 - 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 : METS ENERGY SAL
Country of Origin : Lebanon
Legal Form : Lebanese Joint Stock Company
Registration Date : 19th July 1988
Commercial Registration Number : 2011327, Baabda
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Total Workforce : 190
Activities : Manufacture, assembly, maintenance and repair of generators, as well
as dealing in related accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
METS ENERGY SAL
Registered &
Physical Address
Street : Bchamoun Road
Area : Choueifate
PO Box : 1137354
Town : Beirut 1103-2170
Country : Lebanon
Telephone : (961-5) 801401 / 810023 / 810024
Facsimile : (961-5) 801337
Mobile : (961-3) 810023
Email : metsng@cyberia.net.lb / info@metslb.com
Premises
Subject operates
from a medium sized suite of offices and a workshop that are rented and located
in the Central Business Area of Beirut.
Name Position
·
Nasser
M Ghandour Managing
Director
·
Suzanne
Ghandour Director
·
Rima A
Azakir Director
·
Houssam
N Debeissy Administration
Manager
·
Kassem
Al Khatib IT
Manager
·
Fadi
Maalouf Purchasing
Manager
·
Jean
Claude Abi Saab Strategic
Marketing Advisor
·
Rana
Seblani Accounts
Manager
Date of Establishment : 19th
July 1988
Legal Form :
Lebanese Joint Stock
Company
Commercial Reg. No. : 2011327,
Baabda
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Name of
Shareholder (s)
·
Nasser
M Ghandour
·
Suzanne
Ghandour
·
Rima A
Azakir
Activities: Engaged in the manufacture and assembly of
generators, fire safety equipment, cleaning machinery and marine turbines. Subject also provides repair
and maintenance services.
The business also supplies sound proof and weather proof canopies, control panels, distribution and synchronizing panels, lightning and surge protection devices as well as fuel tanks, Separ fuel / water separators and exhaust purifiers in addition to VM marine engines and accessories.
Subject is ISO 9001
accredited.
Import
Countries: United Kingdom,
United States of America, Germany, Italy, Brazil, China, India, South Korea,
Turkey and the Netherlands.
Agencies Held:
International
Suppliers:
·
Separ Germany
·
VM Motori Italy
·
Hitec Power Netherlands
Brand Names: METS ENERGY,
GENMET SERIES, PERKINS, CUMMINS, LISTER PETTER, MWM, NSM, SEPAR FILTER,
MAXXFORCE, DOOSAN and WEG
Export
Countries: Burundi, Gambia, Guinea, Kuwait, Egypt, Liberia, Angola, Bangladesh,
Ghana, Africa, Asia, and Middle East
Operating Trend: Steady
Subject has a
workforce of approximately 190 employees.
Financial
highlights provided by local sources are given below:
Currency: Lebanese
Pounds (LP)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Revenue LP 10,210,000,000 LP 10,875,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque Audi
Sal
Ashrafieh Branch
PO Box: 112560
Beirut
Tel: (961-1) 200250 / 200251
Fax: (961-1) 200955
·
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
company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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.