MIRA INFORM REPORT

Report No. :	335403
Report Date :	19.08.2015

IDENTIFICATION DETAILS

Name :	KASR KABAW COMPANY FOR MARBLE & GRANITE (LIBYA)
Registered Office :	Wadi Al Rabie Area, Ain Zara, Tripoli
Country :	Libya
Date of Incorporation :	10.06.2000
Legal Form :	Limited Corporation
Line of Business :	Subject Operate Production, Manufacture and Export of Marble and Granite
No. of Employees :	80

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:

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ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
Libya	C1	C1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LIBYA - ECONOMIC OVERVIEW

Libya's economy is almost entirely dependent on the nation's energy sector, which generates about 65% of GDP and 96% of government revenue. Income from the sale of crude oil and natural gas, coupled with a small population, give Libya one of the highest nominal per capita GDPs in Africa, but Libya’s leaders have hindered economic development by, for the most part, failing to use these financial resources to invest in national infrastructure. Libyan sales of oil and natural gas collapsed during the Revolution of 2011, rebounded in 2012 and 2013, but then fell sharply in late 2013 and throughout 2014 due to major protest disruptions at Libyan oil ports and around the country. The state sector is large and growing, with the majority of the Libyan workforce receiving a government salary in 2014. Sharply decreased revenues and increased payments for state salaries and for subsidies on fuel and food resulted in an estimated budget deficit about 50% of GDP in 2014, up from about 4% in 2013. Libya’s economic transition away from Qadhafi’s notionally socialist model toward a market-based economy stalled as revenues shrank, political uncertainty grew, and security deteriorated. Rival political factions in late 2014 were competing for control of the central bank and the national oil company, while funding for economic reform and infrastructure projects has stopped.

Source : CIA

Company Name
Registered Name:	KASR KABAW COMPANY FOR MARBLE & GRANITE (LIBYA)
Requested Name:	KASR KABAW COMPANY FOR MARBLE & GRANITE (LIBYA)
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	Wadi Al Rabie Area, Ain Zara,
	Tripoli
Country:	Libya
Phone:	218-913249604
Fax:	218-913249604
Email:	info@kasr-kabaw.com
Website:	www.kasr-kabaw.com
CREDIT OPINION
Financial Index as of December 2014 shows subject firm with a medium risk of credit.
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		10-June-2000
Reg. Number:		Libya
Nominal Capital		LYD. 10,000
Subscribed Capital		LYD. 10,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Mr. Ahmed Mansour Abdullah Almwed		Director
RELATED COMPANIES
None		Parent company.
None		Subsidiary company.
None		Affiliated company.
None		Shareholder of subject firm.
None		Branches of the firm
OPERATIONS
Registered to operate production, manufacture and export of marble and granite
Imports:		Middle East
Exports:		None
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		firms and organizations
Employees:		80 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Libya
Location:		Owned premises, 10,000 square feet,
AUDITORS AND INSURANCE
Auditors:		Information not available.
Insurance Brokers:		Information not available.
FINANCE
Currency Reported:		Libyan Dinar (LYD.)
Approx. Ex. Rate:		1 US Dollar = 1.38 Libyan Dinar
Fiscal Year End:		December 31, 2014
Inflation:		According to information given by independent sources, the inflation at December 31st, 2014 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in LYD.)
			2014
Sales			30,000,000
BANK
Bank Name:		Libyan Development Bank
Branch:		Libya
Comments:		None
TRADE REFERENCES
Experiences:		Good
NOTARIAL BONDS None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.65.22
UK Pound	1	Rs.102.23
Euro	1	Rs.72.39

INFORMATION DETAILS

Analysis Done by :	KAS
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%)

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