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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
GOLD CIRCLE GROUP SAL |
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Registered Office : |
United |
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Country : |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
1993 |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Subject is engaged in the manufacture of socks and underwear. |
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No of Employees : |
60 |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 |
Company Name :
GOLD CIRCLE GROUP SAL
Country of Origin :
Lebanon
Legal Form :
Lebanese Joint Stock Company
Registration Date :
1993
Issued Capital :
LP 30,000,000
Paid up Capital : LP
30,000,000
Total Workforce :
60
Activities :
Manufacturers of socks and underwear
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Pierre Amery, Managing Director
GOLD CIRCLE GROUP SAL
Registered &
Physical Address
Building : United Six
Building
Street : Street No. 8
Area : Mekalles
Industrial Zone, Mansourieh Metn
PO Box : 157
Town : Beirut
Country : Lebanon
Telephone : (961-1) 686635
Facsimile : (961-1) 686635
Mobile : (961-3)
308805
Email : gcg@cyberia.net.lb
/ goldcirclegroup@gmail.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are rented and located in the Industrial Area of Beirut.
Name Position
Pierre Amery Managing
Director
Antoune Amery Director
Jackline Amery Director
Joell Mansour Director
Wajih Naman Director
Date of Establishment : 1993
Legal Form :
Lebanese
Joint Stock Company
Issued Capital : LP 30,000,000
Paid up Capital :
LP
30,000,000
Name of Shareholder
(s)
Pierre Amery
Antoune Amery
Jackline Amery
Joell Mansour
Wajih Naman
Activities: Engaged in the manufacture of socks and underwear.
Import Countries: France
International Suppliers:
Filex France
Operating Trend: Steady
Subject has a workforce of 60 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
16,900,000,000 LP
18,000,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
Bank of Beirut and the Arab Countries Sal
PO Box: 111536
Beirut
Tel: (961-1) 867142 / 869835
Fax: (961-1) 869836
No complaints regarding subject’s payments have been reported.
Local sources report that the subject’s operating history is clear with payment
obligations met in a generally timely manner. The financial position is
satisfactory and the company is deemed a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.61 |
|
|
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
TPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.