MIRA INFORM REPORT

 

 

Report Date :

20.09.2014

 

IDENTIFICATION DETAILS

 

Name :

KHONAYSSER MOTORS SARL

 

 

Registered Office :

Khonaysser Motors Building, Main Biakout Road, Nahr El Mot, Kassarat Area, PO Box : 70268, Beirut

 

 

Country :

Lebonan

 

 

Financials (as on) :

31.12.2013

 

 

Date of Establishment :

1996

 

 

Com. Reg. No.:

55377, Baabda

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Import and distribution of agricultural, horticultural and forestry machinery and equipment, electrical and electronic products, harbour and ship equipment.

 

 

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 – June 1, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Lebonan

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

LEBONAN - 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                                     : KHONAYSSER MOTORS SARL

Country of Origin                                    : Lebanon

Legal Form                                            : Limited Liability Company

Registration Date                                   : 1996

Commercial Registration Number            : 55377, Baabda

Issued Capital                                        : LP 5,000,000

Paid up Capital                                      : LP 5,000,000

Total Workforce                                     : 75

Activities                                               : Distributors of agricultural, horticultural and forestry machinery and

equipment, electrical and electronic products, harbour and ship   equipment.

Financial Condition                                 : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                     : Steady

 

 

 

 

 

COMPANY NAME

 

KHONAYSSER MOTORS SARL

 

 

ADDRESS

 

Registered & Physical Address

 

Building             : Khonaysser Motors Building

Street               : Main Biakout Road

Area                 : Nahr El Mot, Kassarat Area

 

PO Box             : 70268

 

Town                 : Beirut

Country             : Lebanon

 

Telephone         : (961-1) 870078

Facsimile          : (961-1) 874795

Mobile               : (961-3) 250958

 

Premises

 

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

 

Branch Office (s)

 

     Location                                                                                           Description

 

·       Industrial City                                                                                    Showroom premises

Zahleh

Tel: (961-8) 930081

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·       Antoine H Khonaysser                                                                       Managing Director

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1996

 

Legal Form                  : Limited Liability Company

 

Commercial Reg. No.  : 55377, Baabda

 

Issued Capital              : LP 5,000,000

 

Paid up Capital            : LP 5,000,000

 

Name of Shareholder (s)

 

·       Antoine H Khonaysser

 

·       Members of the Khonaysser family

 

 

AFFILIATED COMPANIES

 

·       Qatar Generators Est

Warehouse No. 124, Street No. 26

Salwa Industrial Area

Doha

Qatar

Tel: (974) 46547793 / 45967727

 

·       Khonaysser & Co

60th Street

Erbil

Iraq

Tel: (964) 7700444455

Fax: (964) 7700444466

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of agricultural, horticultural and forestry machinery and equipment, electrical and electronic products, harbour and ship equipment.

 

Import Countries: Sweden, Germany, United Kingdom, France and Italy.

 

International Suppliers:

 

·       Volvo Penta              Sweden

·       Volvo                        Sweden

·       Volvo                        Germany

·       Stamford                  United Kingdom

 

Export Countries: Iraq, Jordan, Kuwait, Oman, United Arab Emirates, Bahrain, Yemen, Sudan, South Africa, Liberia, Nigeria, Kazakhstan, Cyprus, Romania, Afghanistan, Ghana, Saudi Arabia, Congo, Egypt and  Syria.

 

Operating Trend: Steady

 

Subject has a workforce of 75 employees.

 

 

FINANCIAL DATA

 

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 7,870,000,000                       LP 8,100,000,000

 

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

 

The above financial figures are based on estimations by our local sources.

 

 

BANKERS

 

·       Bank of Beirut Sal

Clemanceau Street

PO Box: 117354

Beirut

Tel: (961-1) 360850 / 350723

Fax: (961-1) 360850

 

·       Societe Generale Libano Europeene de Banque Sal

     PO Box: 112955

     Beirut

     Tel: (961-1) 499813 / 483001

     Fax: (961-1) 200455

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                              April 2013

Credit amount                                        296,000

Amount overdue                                     0

Payment terms                                      90 days

Payment Method                                   Letters of Credit

Paying record                                        No Complaints

Currency                                               Euros

 

 

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.60.81

UK Pound

1

Rs.100.06

Euro

1

Rs.78.47

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

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.