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Report Date : |
08.11.2014 |
IDENTIFICATION DETAILS
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Name : |
ABIDO COMPANY FOR TRADE & INDUSTRY SARL |
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Registered Office : |
Raja Building, Makhzoumi Street, Mazraa Sector, P O Box 146515, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2013 |
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Year of Establishment : |
1950 |
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Com. Reg. No.: |
1007141, Beirut |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and Distribution
of Herbs, Spices, Seasonings and Other Powdered Food Products |
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No. of Employees : |
95 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Lebanon |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
|
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.
|
Source
: CIA |
Company Name : ABIDO
COMPANY FOR TRADE & INDUSTRY SARL
Also Known As : ABIDO CO
SARL
Country of Origin : Lebanon
Legal Form :
Limited Liability Company
Registration Date : 1950
Commercial
Registration Number : 1007141,
Beirut
Issued Capital : LP
10,000,000
Paid up Capital : LP
10,000,000
Total Workforce : 95
Activities :
Distributors of herbs, spices, seasonings and other powdered food products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Person Interviewed : Borak
Chehadeh, Finance Manager
ABIDO COMPANY FOR
TRADE & INDUSTRY SARL
ABIDO CO SARL
Building : Raja Building
Street : Makhzoumi Street
Area : Mazraa Sector
PO Box : 146515
Town : Beirut
Country : Lebanon
Telephone : (961-1) 654369 / 651615
Facsimile : (961-1) 654385
Email : export@abido.com / borak@abido.com
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
·
Borj
Abi Haidar Sector Warehouse
premises
Beirut
Tel: (961-1) 314924
·
Haret
El Naameh Office
premises
Mount Lebanon
Tel: (961-5) 603493
Fax: (961-5) 603494
Name Position
·
Adel
Mohamed Chehadeh Managing
Director
·
Abdelkarim
Mohamed Chehadeh Director
·
Barrak
Mohamed Chehadeh Director
·
Hilal
Mohamed Chehadeh Director
·
Muhieddine
Hamzeh IT
Manager
·
Mahmoud
Al Goul Export
Manager
·
Borak
Chehadeh Finance
Manager
Date of Establishment : 1950
Legal Form :
Limited Liability Company
Commercial Reg. No. : 1007141,
Beirut
Issued Capital : LP 10,000,000
Paid up Capital : LP 10,000,000
·
Adel
Mohamed Chehadeh
·
Abdelkarim
Mohamed Chehadeh
·
Barrak
Mohamed Chehadeh
·
Hilal
Mohamed Chehadeh
Activities: Engaged in the import and distribution of
herbs, spices, seasonings and other powdered food products.
Import Countries: Sweden and Canada
International Suppliers:
·
United
Gross Sweden
·
Green
World Canada
Export
Countries: Germany, United
Kingdom and the United States of America
Brand Names: ABIDO
Operating Trend: Steady
Subject has a
workforce of 95 employees.
Financial
highlights provided by local sources are given below:
Currency: United States
Dollars (US$)
Year
Ending 31/12/12: Year Ending
31/12/13:
Total Sales US$ 8,720,000 US$ 9,300,000
Local sources
consider subject’s financial condition to be Fair.
The above figures
were provided by Mr Borak Chehadeh, Finance Manager
·
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.
Local sources report
that payment obligations are met in a generally timely manner and the operating
history is clear. As such the company is deemed a fair trade risk and the above
credit figure is considered to be within subject’s financial means.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.52 |
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|
1 |
Rs.97.39 |
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Euro |
1 |
Rs.76.16 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
NIT |
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 |
-- |
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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.