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Report No. : |
337069 |
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Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
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Name : |
GHADDAR MACHINERY CO SAL |
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Registered Office : |
Property 410/4, Block B Ghazieh, Sidon, Raoucheh, 110, Saida |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
20.04.2005 |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Subject is engaged in the import and distribution of industrial machinery
and equipment. |
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No. of Employees : |
10 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Lebanon |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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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. 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.
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Source
: CIA |
Company Name : GHADDAR MACHINERY CO SAL
Country of Origin : Lebanon
Legal Form : Lebanese Joint Stock Company
Registration Date : 20th April 2005
Commercial Registration Number : 5000564, Saida
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Total Workforce : 10
Activities : Distributors of industrial machinery and equipment
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
GHADDAR MACHINERY CO SAL
Building : Property
410/4, Block B
Area : Ghazieh,
Sidon, Raoucheh
PO Box : 110
Town : Saida
Country : Lebanon
Telephone : (961-7) 220000
Facsimile : (961-7) 221754
Email : info@ghaddar.com
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Saida.
Name Position
· Mohamed Samih
Ghaddar Managing
Director
· Mohamed Afif
Ghaddar Director
Date of
Establishment : 20th
April 2005
Legal Form : Lebanese Joint
Stock Company
Commercial Reg.
No. : 5000564, Saida
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
· Mohamed Samih
Ghaddar
· Mohamed Afif
Ghaddar
· Ghaddar Machinery
Company Sal (Offshore)
Property 410/4, Block B
Ghazieh
PO Box: 110
Saida
Tel: (961-7) 220000
Fax: (961-7) 221754
Activities: Engaged in the import and distribution of industrial machinery and
equipment.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 10 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
4,000,000,000 LP
4,340,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Ahli International Bank
Saida
Tel: (961-7)
728930
No complaints regarding subject’s payments have been reported.
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.65.22 |
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UK Pound |
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
TRU |
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 |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.