MIRA INFORM REPORT

 

 

Report Date :

19.06.2014

 

IDENTIFICATION DETAILS

 

Name :

INKRIPT CARDS SAL

 

 

Registered Office :

Museum Tower, Block B, Street No 20586007, Mathaf Street, Badaro Area, P O Box 1165090, Beirut

 

 

Country :

Lebanon

 

 

Date of Incorporation :

07.06.2005

 

 

Com. Reg. No.:

1004329, Beirut

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

Line of Business :

manufacturer of plastic cards, financial plastic cards, access cards and identification cards.

 

 

No of Employees :

75

 

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                                    : INKRIPT CARDS SAL

Country of Origin                                   : Lebanon

Legal Form                                           : Lebanese Joint Stock Company

Registration Date                                  : 7th June 2005

Commercial Registration Number           : 1004329, Beirut

VAT Number                                         : 601-1097385

Issued Capital                                       : LP 4,030,000,000

Paid up Capital                                     : LP 4,030,000,000

Total Workforce                         : 75

Activities                                               : Manufacturers of plastic cards, financial plastic cards, access cards and

                                                              identification cards

Financial Condition                                : Undetermined

Payments                                             : Nothing detrimental uncovered

 

 

COMPANY NAME

 

INKRIPT CARDS SAL

 

 

company ADDRESS

 

Registered & Physical Address

Building                        : Museum Tower, Block B

Street               : Street No 20586007, Mathaf Street

Area                 : Badaro Area

PO Box            : 1165090

Town                : Beirut

Country : Lebanon

 

Telephone         : (961-1) 412000

Facsimile          : (961-1) 412812

Email                : info@inkript.com / sales@inkript.com

 

Please note that subject’s previous address was, Farra Building, 1st Floor, Bliss Street, Ras Beirut, Beirut.

 

Premises

Subject operates from a medium sized suite of offices that are rented and located in the Central Business Area of Beirut.

 

Branch Office (s)

 

     Location                                                                                          Description

 

·       Bachmon Area                                                                                  Factory premises

Tel: (961-5) 808081

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

·       Riyad Mohamed Itani                                                                        Managing Director

·       Hesham Mohamed Itani                                                                     Director

·       Mohamed Zuhair Itani                                                                        Director

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 7th June 2005

 

Legal Form                  : Lebanese Joint Stock Company

 

Commercial Reg. No.   : 1004329, Beirut

 

VAT No.                       : 601-1097385

 

Issued Capital              : LP 4,030,000,000

 

Paid up Capital            : LP 4,030,000,000

 

 

Name of Shareholder (s)                                                        Percentage

·       Inkript Technology Sal                                                           99.97%

·       Riyad Mohamed Itani                                                              0.01%

·       Hesham Mohamed Itani                                                           0.01%

·       Mohamed Zuhair Itani                                                              0.01%

 

 

AFFILIATED COMPANIES

 

·       Inkript Forms Sal

Museum Tower

Mathaf Street

Badaro

Beirut

Tel: (961-1) 412000 / 740901

Fax: (961-1) 412414 / 740905

 

·       Inkript Industries Holding Sal

Farra Building, 1st Floor

Bliss Street

Jamia Sector

Beirut

Tel: (961-1) 370888

 

 

OPERATIONS

 

Activities: Engaged in the manufacture of plastic cards, financial plastic cards, access cards and identification cards.

 

Import Countries: Europe and the Far East.

 

Subject has a workforce of 75 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

 

·       Credit Libanais Sal

PO Box: 166729

Beirut

Tel: (961-1) 200028 / 201292

Fax: (961-1) 602615

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

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.60.12

UK Pound

1

Rs.102.00

Euro

1

Rs.81.43

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUM

 

 

Report Prepared by :

MNL

 

 

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.