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Report Date : |
07.10.2014 |
IDENTIFICATION DETAILS
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Name : |
ZEIN INTERNATIONAL EST FOR TRADE & INDUSTRY |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
07.03.1989 |
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Com. Reg. No.: |
52348 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject is engaged in the import and distribution of ceramics, tiles
and other sanitary ware products. |
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No of Employees : |
15 |
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 : ZEIN INTERNATIONAL EST FOR TRADE
& INDUSTRY
Country of Origin :
Lebanon
Legal Form :
Sole Proprietorship
Registration Date :
7th March 1989
Commercial Registration Number :
52348, Beirut
VAT Number :
601-106246
Invested Capital :
LP 3,000,000
Total Workforce :
15
Activities :
Distributors of ceramics, tiles and other sanitary ware products
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ZEIN INTERNATIONAL EST FOR TRADE & INDUSTRY
Registered &
Physical Address
Building : Anis Fouani
Building
Street : Airport Road
Area : Bourj
Brajneh, Baabda
PO Box : 1135081
Town : Beirut
Country : Lebanon
Telephone : (961-1) 451780
Facsimile : (961-1) 451790
Mobile : (961-3)
273968 / 275890
Email : salah.zein@zein-intl.com / info@zein_int.com
Premises
Subject operates from a small suite of offices, a warehouse and a showroom
that are owned and located in the Suburban Business Area of Beirut.
Name Position
Mohamed Ali Khalil Al
Zein Proprietor
& General Manager
Salah Mohamed Ali Khalil
Al Zein Assistant
General Manager
Rania Al Zein Commercial
Manager
Ali Nasser Accountant
Date of Establishment : 7th
March 1989
Legal Form :
Sole
Proprietorship
Commercial Reg. No. : 52348, Beirut
VAT No. : 601-106246
Invested Capital : LP 3,000,000
Mr Mohamed Ali Khalil Al
Zein is the sole proprietor of the business.
Sun Italia Co
Sharjah
United Arab Emirates
Zein Italia
Ras Al Khaimah
United Arab Emirates
Zein International Group
Missouri
United States of America
Activities: Engaged in the import and distribution of ceramics, tiles and other
sanitary ware products.
Import Countries: Spain and Italy
International Suppliers:
Elesa Italy
Gresdenules
Pmesa Spain
Saloni Spain
Operating Trend: Steady
Subject has a workforce of 15 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
4,285,000,000 LP
4,530,000,000
Local sources consider subject’s financial condition to be Fair.
Byblos Bank Sal
PO Box: 115605
Beirut
Tel: (961-1) 898200
Fax: (961-1) 898209
Fransabank Sal
PO Box: 110393
Beirut
Tel: (961-1) 340180 / 354573
Fax: (961-1) 354572
Banque Libanaise pour le Commerce Sal
PO Box: 111126
Beirut
Tel: (961-1) 445450 / 442320
Fax: (961-1) 581927
No complaints regarding subject’s payments have been reported.
With operations dating back to 1989, Zein International Est for Trade
& Industry is well established in the local business community. It is
engaged in the import and distribution of ceramics, tiles and other sanitary
ware products.
According to local sources subject is making steady progress in the local
business market and nothing detrimental has been reported regarding 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.61.75 |
|
|
1 |
Rs.100.07 |
|
Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
|
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 |
|
<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.