MIRA INFORM REPORT

 

 

Report Date :

08.10.2014

 

IDENTIFICATION DETAILS

 

Name :

TAMER FRERES SAL

 

 

Registered Office :

Tamer Building, Horch Tabet Street, Sin El Fil, PO Box: 5584, Beirut

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

08.12.1945

 

 

Com. Reg. No.:

13, Beirut

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

Line of Business :

Import and distribution of general merchandise, including dental and pharmaceutical products, laboratory equipment, cosmetics, tobacco and smoker’s requisites, foodstuff, beverages, stationery and office equipment, watches and clocks, cameras and photographic accessories, toys and games, computers, computer peripherals and auxiliary units.

 

 

No. of Employees :

225

 

 

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 :

Good

 

 

Payment Behaviour :

Regular

 

 

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

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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

 

SUMMARY

 

Company Name                                    : TAMER FRERES SAL

Country of Origin                                   : Lebanon

Legal Form                                           : Lebanese Joint Stock Company

Start Date                                             : 1917

Registration Date                                  : 8th December 1945

Commercial Registration Number           : 13, Beirut

VAT Number                                         : 601-2265

Issued Capital                                       : LP 3,150,000,000

Paid up Capital                                     : LP 3,150,000,000

Total Workforce                                    : 225

Activities                                               : Distributors of general merchandise

Financial Condition                                : Good

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Nicolas Berberi, Finance Manager

 

COMPANY NAME

 

TAMER FRERES SAL

 

 

ADDRESS

 

Registered & Physical Address

 

Building                        : Tamer Building

Street               : Horch Tabet Street

Area                 : Sin El Fil

 

PO Box            : 5584

 

Town                : Beirut

Country : Lebanon

 

Telephone         : (961-1) 513413 / 694000 / 499851 / 499852 / 601523 / 499846

Facsimile          : (961-1) 510233 / 510234 / 685162

Mobile              : (961-3) 766110

Email                : info@tamer-group.com / finance@tamer-group.com / tamerit@dm.net.lb

 

Premises

 

Subject operates from a large suite of offices and a warehouse that are owned and located in the Central Business Area of Beirut.

 

Branch Office (s)

 

     Location                                                                                          Description

·       Tripoli                                                                                              Rented office & warehouse premises

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Jean F Tamer                                                                                   Managing Director

 

·       Nicolas Berberi                                                                                 Finance Manager

 

·       Simone Tamer                                                                                  Sales Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : Subject’s operations date back to 1917, however it was registered on 8th December 1945.

 

Legal Form                  : Lebanese Joint Stock Company

 

Commercial Reg. No.   : 13, Beirut

 

VAT No.                       : 601-2265

 

Issued Capital              : LP 3,150,000,000

 

Paid up Capital            : LP 3,150,000,000

 

Name of Shareholder (s)                                                     Percentage

 

·       Tri Reme Holding Sal                                                            45%

Beirut

 

·       Apex Holding Sal                                                                 45%

Beirut

 

·       Jean Fawzy Tamer                                                                10%

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of general merchandise, including dental and pharmaceutical products, laboratory equipment, cosmetics, tobacco and smoker’s requisites, foodstuff, beverages, stationery and office equipment, watches and clocks, cameras and photographic accessories, toys and games, computers, computer peripherals and auxiliary units.

 

Subject is ISO 9001 certified.

 

Import Countries: United Kingdom, Germany, Switzerland, France, Italy, Sweden, Japan and the United States of America.

 

Brand Names : DENTSPLY                   UNIDENT                                  FRESENIUS

BIEN AIR                      DINO                                        SIEMENS

ROEKO ULM                 PEUGEOT                                BLANCOMED

PRINTRONIX                 TEXAS INSTRUMENTS  FARO SPA

NOVA                           EPPENDORF                            FUJIFILM

LOHMANN                    SEPTODONT                            MAILLEFER

A-DEC                          BUTLER                                    FARO

 

Operating Trend: Steady

 

Subject has a workforce of approximately 225 employees.

 

 

FINANCIAL DATA

 

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$ 61,800,000             US$ 65,000,000

 

Local sources consider subject’s financial condition to be Good.

 

The above figures were provided by Mr Nicolas Berberi, Finance Manager

 

 

BANKERS

 

·       Banque de la Mediterranee SAL

Al Nahar Building

Banque du Liban Street

Hamra

Beirut

Tel: (961-1) 353146

 

·       Blom Bank Sal

Main Branch

PO Box: 111912

Beirut

Tel: (961-1) 346290

 

·       Chase Manhattan Bank Ltd

Main Branch

Beirut

Tel: (961-1) 368460

 

·       Banque Nationale de Paris Intercontinentale

PO Box: 111608

Beirut

Tel: (961-1) 200600 / 333717 / 216140

Fax: (961-1) 200604

 

 

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.61.36

UK Pound

1

Rs.98.71

Euro

1

Rs.77.47

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIT

 

               

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.