|
Report No. : |
317983 |
|
Report Date : |
21.04.2015 |
IDENTIFICATION DETAILS
|
Name : |
KHALIL WARDE SAL |
|
|
|
|
Registered Office : |
Mongolian Building, Ground Floor, Zalka Highway, Amaret Chalhoub, PO
Box: 1135332, Beirut 1103-2030 |
|
|
|
|
Country : |
Lebanon |
|
|
|
|
Date of Incorporation : |
27.11.1982 |
|
|
|
|
Com. Reg. No.: |
45905, Beirut |
|
|
|
|
Legal Form : |
Lebanese Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is Distributors, wholesalers and retailers of drapery and
textiles, soft furnishings, cushions, carpets, wall coverings, curtains and decorative
household articles, as well as fabrics, linen tablecloths and towels |
|
|
|
|
No. of Employee : |
200 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Lebanon |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LABENON - 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. Spillover from the Syrian conflict, including the influx of more than 1 million Syrian refugees, has increased internal tension and slowed economic growth to the 1-2% range in 2011-13, after four years of averaging 8% growth. Syrian refugees have increased the labor supply, but pushed more Lebanese into unemployment. Chronic fiscal deficits have made Lebanon’s debt-to-GDP ratio the third highest in the world; most of the debt is held internally by Lebanese banks. Weak economic growth limits tax revenues, while the largest government expenditures remain debt servicing and transfers to the electricity sector. These limitations constrain other government spending and limit the government’s ability to invest in necessary infrastructure improvements, such as water, electricity, and transportation.
|
Source
: CIA |
Company Name :
KHALIL WARDE SAL
Country of Origin :
Lebanon
Legal Form :
Lebanese Joint Stock Company
Registration Date :
27th November 1982
Commercial Registration Number :
45905, Beirut
VAT Number :
601-2943
Issued Capital :
LP 4,500,000,000
Paid up Capital :
LP 4,500,000,000
Total Workforce :
200
Activities :
Distributors, wholesalers and retailers of drapery and textiles, soft
furnishings, cushions, carpets, wall
coverings, curtains and decorative
household articles, as well as fabrics, linen
tablecloths and towels
Financial Condition :
Good
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
Person Interviewed :
Georges Araman, Finance Manager
KHALIL WARDE SAL
Building : Mongolian
Building, Ground Floor
Street : Zalka
Highway
Area : Amaret
Chalhoub
PO Box : 1135332
Town : Beirut
1103-2030
Country : Lebanon
Telephone : (961-1) 601572
/ 888279 / 888281 / 897725 / 875600-6
Facsimile : (961-1) 601573
/ 875609
Mobile : (961-3)
605818
Email : warde@khalilwarde.com.lb / warde@dm.net.lb / georges.aramman@warde.com
Subject operates from a medium sized suite of offices, a warehouse and a
showroom that are rented and located in the Suburban Business Area of Beirut.
Branch Office (s)
Location Description
· Makdessi Street Rented
showroom premises
Hamra
Beirut
Tel:
(961-1) 350463 / 346055 / 748400
· Hazmieh Rented
showroom premises
Beirut
Tel:
(961-5) 951903
· El Helatie Rented
showroom premises
Saida
Tel:
(961-7) 751177 / 751178 / 751179
· El Mina Rented
showroom premises
Tripoli
Tel:
(961-6) 602070 / 614652
· Ksara Rented
showroom premises
Zahle, Milart
Tel: (961-8) 806855
Mob: (961-3)
211569
· Baaklin Rented
showroom premises
Mob: (961-3)
626039
· Dahr El Ain Rented
showroom premises
Koura
Tel:
(961-6) 432054 / 431274
· Tyr Rented
showroom premises
Mob: (961-3)
321228
· Shmeisani Rented
showroom premises
PO Box: 9532
Amman
Jordan
Tel: (962-6)
5686012
Name Position
· Gabriel Khalil
Warde Managing
Director
· Mrs Nada Pierre
Khalil Warde Director
· Andre Khalil Warde Director
· Mrs Emilie Khalil
Warde Director
· Paul G Warde Director
· Mrs Hala Warde Director
· Amale Warde Director
· Manale Warde Director
· Neda Warde Director
· Gabriel Andre
Warde General Manager
· Georges Araman Finance
Manager
· Robert Warde Human
Resources Manager
Date of
Establishment : 27th
November 1982
Legal Form : Lebanese Joint
Stock Company
Commercial Reg.
No. : 45905, Beirut
VAT No. : 601-2943
Issued Capital : LP 4,500,000,000
Paid up Capital : LP 4,500,000,000
· Gabriel Khalil
Warde
· Mrs Nada Pierre
Khalil Warde
· Andre Khalil Warde
· Mrs Emilie Khalil
Warde
· Paul G Warde
· Mrs Hala Warde
· Amale Warde
· Manale Warde
· Neda Warde
· Khalil Warde Est
Baydoun Building
Hamra Main Street
Hamra
PO Box: 1135332
Beirut
Tel:
(961-1) 748400 / 748401 / 748402
Fax:
(961-1) 748403
Email: warde@dm.net.lb
CR No:
1299
Activities: Distributors, wholesalers and retailers of drapery and textiles, soft
furnishings, cushions, carpets, wall
coverings, curtains and decorative household articles, as well as
fabrics, linen tablecloths and towels.
Subject also
offers fitting and installation services, as well as interior designing.
Import Countries: Italy, Spain, France, the United Kingdom, Germany,
Saudi Arabia, Morocco and Libya
International Suppliers:
· Riorna Spain
· Al Hambra Spain
· Le Lievre France
· Tinte Unite Italy
· Colony Italy
· Sanderson United Kingdom
· Monkwell Co United Kingdom
Brand Names: RUBELLI, JIMMER & ROHDE, ETRO, MARCATO, HESSLEIN,
VOGHI, SURCANAPE, DONGHIA,
JAB, ELITIS, ROMO
and NOBILIS
Operating Trend: Steady
Subject has a workforce of approximately 200 employees.
Financial highlights provided by local sources are given below:
Currency: Lebanese Pounds (LP)
Year
Ending 31/12/13: Year
Ending 31/12/14:
Total Sales LP
60,000,000,000 LP
63,850,000,000
Local sources consider subject’s financial condition to be Good.
The above figures were provided by Mr Georges Araman, Finance Manager
·
Banque Nationale de Paris Intercontinentale
PO Box: 111608
Beirut
Tel: (961-1)
200600 / 333717 / 216140
Fax: (961-1)
200604
·
Blom Bank Sal
PO Box: 111912
Beirut
Tel: (961-1) 346290 / 863830 / 371898
Fax: (961-1) 364133
·
Bank of Beirut and the Arab Countries Sal
PO Box: 111536
Beirut
Tel: (961-1)
867142 / 869835
Fax: (961-1)
869836
·
Societe Nouvelle de la Banque de Syrie et du Liban
PO Box: 11957
Beirut
Tel: (961-1)
402420
Fax: (961-1)
405563 / 404561
No complaints regarding subject’s payments have been reported.
Credit amount 125,000
Amount overdue 0
Payment terms 180
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
Subject is well established in the local business community and is
engaged in the distribution, wholesale, retail of textiles, soft furnishings,
carpets, wall coverings, curtains and decorative household articles. Khalil
Warde SAL are stockists of well known brands and operate from 9 branches
throughout Lebanon and one in Jordan.
The company is owned by members of the Khalil Warde family who have many
years experience in the textiles industry.
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.62.56 |
|
|
1 |
Rs.93.56 |
|
Euro |
1 |
Rs.67.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.