MIRA INFORM REPORT

 

 

Report Date :

14.06.2014

 

IDENTIFICATION DETAILS

 

Name :

LIBAN JUS SAL

 

 

Registered Office :

Liban Jus Building, Off Camille Chamoun Boulevard Hadath, Furn El Chebbak PO Box        50175 Baabda

 

 

Country :

Lebanon

 

 

Date of Incorporation :

1978

 

 

Com. Reg. No.:

7727, Baabda

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

Line of Business :

Engaged in the manufacture of ice cream, sorbets and fruit juices

 

 

No. of Employees

152

 

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

 

 

 

SUMMARY

 

Company Name                         : LIBAN JUS SAL

Country of Origin                                    : Lebanon

Legal Form                                            : Lebanese Joint Stock Company

Registration Date                                   : 1978

Commercial Registration Number            : 7727, Baabda

VAT Number                                          : 601-11166

Issued Capital                                        : LP 10,020,000,000  

Paid up Capital                                      : LP 10,020,000,000  

Total Workforce                         : 152

Activities                                               : Manufacturers of ice cream, sorbets and fruit juices

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Person Interviewed                                 : Mrs Laila Haddad, Administration Manager        

 

 

 

 

COMPANY NAME

 

LIBAN JUS SAL

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Liban Jus Building, Off Camille Chamoun Boulevard

Area                 : Hadath, Furn El Chebbak

PO Box             : 50175

Town                 : Baabda

Country : Lebanon

 

Telephone         : (961-5) 465662 / 465663 / 467111

Facsimile          : (961-5) 466677

Email                : contact@libanjus.com

 

Premises

 

Subject operates from a large suite of offices and a factory that are owned and located in the Suburban Business Area of Baabda.

 

 

KEY PRINCIPALS

 

     Name                                                                                                           Position

 

·       Assad Michael Gharios                                                                                  Chairman

 

·       Edmond Michael Gharios                                                                               Director

 

·       Roger Michael Gharios                                                                                  Director

 

·       Elie Michael Gharios                                                                         Director

 

·       Roula Michael Gharios                                                                                   Director

 

·       Antoine Michael Gharios                                                                                Director

 

·       Nazih Michael Gharios                                                                                   Director

 

·       Mrs Laila Haddad                                                                                          Administration Manager 

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1978

 

Legal Form                  : Lebanese Joint Stock Company

 

Commercial Reg. No.  : 7727, Baabda

 

VAT No.                       : 601-11166

 

Issued Capital              : LP 10,020,000,000  

 

Paid up Capital            : LP 10,020,000,000  

 

Name of Shareholder (s)                                    

 

·       Assad Michael Gharios

 

·       Edmond Michael Gharios

 

·       Roger Michael Gharios

 

·       Elie Michael Gharios

 

·       Roula Michael Gharios

 

·       Antoine Michael Gharios

 

·       Nazih Michael Gharios

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of ice cream, sorbets and fruit juices.

 

Export Countries: United States of America, Europe and Africa.

 

Brand Names: DANWAY ICEBERG, MACCAW, TOP JUICE and UNO

 

Subject has a workforce of 152 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

610 Building

Baabda Main Road

Baabda

Tel: (961-5) 921870

Fax: (961-5) 921864

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              May 2013

Credit amount                                        121,000

Amount overdue                         0

Payment terms                                      90 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Euros

 

 

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.59.48

UK Pound

1

Rs.100.93

Euro

1

Rs.80.71

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIS

 

               

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%)

 

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