|
Report Date : |
03.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
MODIAMCO |
|
|
|
|
Registered Office : |
Main Street, Bourj Hamoud, Hamra 1136589 Beirut |
|
|
|
|
Country : |
Lebanon |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Year of Establishment : |
1999 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Engaged in the wholesale and retail of jewellery, diamonds and other precious stones |
|
|
|
|
No of Employees : |
3 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Lebanon |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 : MODIAMCO
Country of Origin : Lebanon
Legal Form : Sole Proprietorship
Registration Date : 1999
Invested Capital : LP 1,000,000
Total Workforce : 3
Activities : Wholesale and retail of jewellery, diamonds and other precious stones.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Dipan Modi, Proprietor & General Manager
MODIAMCO
Street : Main Street
Area : Bourj Hamoud, Hamra
PO Box : 1136589
Town : Beirut
Country : Lebanon
Telephone : (961-1) 801817
Facsimile : (961-1) 801817
Mobile : (961-3) 689393
Email : modiamco@hotmail.com
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Beirut.
Name Position
·
Dipan Modi Proprietor
& General Manager
Date of Establishment : 1999
Legal Form :
Sole Proprietorship
Invested Capital
: LP 1,000,000
Mr. Dipan Modi is the sole proprietor of the business.
Activities: Engaged in the wholesale and retail of jewellery, diamonds and other precious stones.
Import
Countries: Thailand,
Malaysia and India
Operating Trend: Steady
Subject has a
workforce of 3 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 Sales LP 4,825,000,000 LP 5,150,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Bank of
Beirut Sal
Clemanceau Street
PO Box: 117354
Beirut
Tel: (961-1) 360850 / 350723
Fax: (961-1) 360850
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 59.13 |
|
|
1 |
Rs. 99.02 |
|
Euro |
1 |
Rs. 80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
KRN |
|
|
|
|
Report Prepared
by : |
DPT |
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.