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Report Date : |
17.07.2014 |
IDENTIFICATION DETAILS
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Name : |
POLYMED SARL |
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Registered Office : |
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Country : |
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Year of Incorporation : |
1990 |
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Com. Reg. No.: |
9496, Saida |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
· Engaged as General Construction Contractors Subject is classified as "grade A" member in the Syndicate of Lebanese contractors for Buildings &
Public Works & Its Area Of Expertise Include Residential, Resorts,
Hotels, Commercial Centres, Low Cost Housing, Roads and Utility Works as well
as Electro-Mechanical Works |
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No. of Employees |
250 Approximately |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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 $1.2 billion in funding to improve Lebanon's downtrodden electricity sector, but fiscal limitations will test the government's ability to invest in other areas, such as water.
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Source
: CIA |
Company Name : POLYMED SARL
Country of Origin : Lebanon
Legal Form : Limited Liability Company
Registration Date : 1990
Commercial Registration Number : 9496, Saida
Issued Capital : US$ 30,000
Paid up Capital : US$ 30,000
Total Workforce : 250
Activities : Construction contractors
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Person Interviewed : Sayed Ahmed Hariri, Managing Director
POLYMED SARL
Registered &
Physical Address
Building : Zatari Building, 6th
Floor
Street : Riyad Al Soloh Street
Town : Saida
Country : Lebanon
Telephone : (961-7) 755081 / 755082
Facsimile : (961-7) 755083
Email : shariri@masargroup.com
Please note that
the subject had no knowledge of the following address, Mediterranee Centre, 482
Clemenceau Street, Kantari, Beirut.
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Saida.
Name Position
·
Sayed
Ahmed Hariri Managing
Director
·
Mohamed
Sayed Ahmed Hariri Director
·
Rafiq
Sayed Ahmed Hariri Director
Date of Establishment : 1990
Legal Form :
Limited Liability Company
Commercial Reg. No. : 9496, Saida
Issued Capital : US$ 30,000
Paid up Capital : US$ 30,000
Name of Shareholder
(s)
·
Sayed
Ahmed Hariri
·
Mohamed
Sayed Ahmed Hariri
·
Rafiq
Sayed Ahmed Hariri
·
Limited
Trading & Industrial Co of Lebanon
·
Polymed
IT & Security
·
Masar
Sal Offshore
Activities: Engaged as general construction
contractors. Subject is classified as "grade A" member in the
Syndicate of Lebanese contractors for buildings & Public Works. Its area of
expertise include residential, resorts, hotels, commercial centres, low cost
housing, roads and utility works as well as electro-mechanical works.
Subject has a
workforce of approximately 250 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.
·
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.60.19 |
|
UK Pound |
1 |
Rs.103.14 |
|
Euro |
1 |
Rs.81.66 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared by
: |
MNL |
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.