MIRA INFORM REPORT

 

 

Report No. :

352995

Report Date :

10.12.2015

 

IDENTIFICATION DETAILS

 

Name :

SECURITY PRINTING PRESS SAL

 

 

Registered Office :

Mediaform Building, 1st Floor Mar Elias Street Mkalles, Beirut, PO Box 118146

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2014

 

 

Date of Incorporation :

2002

 

 

Com. Reg. No.:

72320

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

Line of Business :

·         Engaged in the provision of security and hologram security printing.

 

·         Subject’s plant includes the following services:
Pre-Press: Integrated solutions for:
Document design and proof delivery
Plate making.
Press: Printing capacities are sufficient to produce materials with the best quality standards, and finishing requirements
Subject’s machinery covers:
Sheet fed small format
Sheet fed large format 4 colours
Web to sheet (all sizes) 4 colours
Web to web (all sizes) 4 colours
Collating and Numbering machines: Gluing, Stitching and Packing,
Die Cutting, Hot Stamping & Letter Press.

 

 

No. of Employees :

7

 

 

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

 

Maximum Credit Limit :

US$ 125,000

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Lebanon

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

 

Company Name

 

SECURITY PRINTING PRESS SAL

 

ORDER DETAILS

 

Business/ Subject Name

:

Security Printing Press SAL

Address

:

1st Floor, Mediaform Building Mar Elias Street, Mkalles (Metn)

Country

:

Lebanon

Web

:

 http://www.secupp.com

 

IDENTIFICATION & CONTACT DETAILS

 

1) Name (s):

Organization Official Name

:

SECURITY PRINTING PRESS SAL

 

2) Registered Address:

Address

:

Mediaform Building, 1st Floor Mar Elias Street Mkalles

Town

:

Beirut

Country

:

Lebanon

PO Box

:

118146

Phone (s)

:

(961-1) 683285

 

 

(961-1) 683535

Facsimile

:

(961-1) 683290

Mobile

:

(961-3) 353591

Email

:

rseif@secupp.com

 

 

checque@secupp.com

 

3) Operational Address & Contact Details:

Address

:

Mediaform Building, 1st Floor Mar Elias Street Mkalles

Town

:

Beirut

Country

:

Lebanon

PO Box

:

118146

Phone (s)

:

(961-1) 683285

 

 

(961-1) 683535

Facsimile

:

(961-1) 683290

Mobile

:

(961-3) 353591

Email

:

rseif@secupp.com

 

 

checque@secupp.com

:

LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS

 

Legal Form - Category

:

Lebanese Joint Stock Company

Date of Registration

:

2002

VAT Number

:

601-290945

Commercial Registration Number

:

72320, Baabda

 

KEY FACTS

 

Operational Status

:

Steady

Financial Condition

:

Fair

Primary Business Activity

:

Providers of security and hologram security printing

Number of Employees

:

7

Capital

:

LP 360,000,000

Note:

Engaged in the provision of security and hologram security printing.
Subject’s plant includes the following services:
Pre-Press: Integrated solutions for:
Document design and proof delivery
Plate making.
Press: Printing capacities are sufficient to produce materials with the best quality standards, and finishing requirements
Subject’s machinery covers:
Sheet fed small format
Sheet fed large format 4 colours
Web to sheet (all sizes) 4 colours
Web to web (all sizes) 4 colours
Collating and Numbering machines: Gluing, Stitching and Packing,
Die Cutting, Hot Stamping & Letter Press.

 

CAPITAL DETAILS

 

Issued Capital:

NO OF SHARES

VALUE OF SHARE

AMOUNT

N/A

N/A

LP 360,000,000

 

Paid Up Capital:

NO OF SHARES

 

AMOUNT

N/A

N/A

LP 360,000,000

 

FINANCIAL DATA

 

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 3,725,000,000

LP 3,900,000,000

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

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

 

BANKERS

 

1

Name

Banque Audi Sal

 

Address

Ashrafieh Branch

 

PO Box

112560 Beirut

 

Tel

(961-1) 200250

 

 

(961-1) 200251

 

Fax

(961-1) 200955

 

2

Name

Banque Libano Francaise Sal

 

PO Box

11808 Beirut

 

Tel

(961-1) 200493

 

 

(961-1) 200490

 

Fax

(961-1) 200494

 

 

(961-1) 348845

 

SHAREHOLDERS

 

Sr.No

Name

1

Amine T Feghali

2

Richard Seif

3

Elias Abi Karm

 

SENIOR MANAGEMENT

 

Sr.No

Name

Dsignation

1

Amine T Feghali

Chairman

2

Richard Seif

Managing Director

3

Elias Abi Karm

Director

 

PREMISES

 

Subject operates from a small suite of offices that are rented and located in the Central Business Area of Beirut.

 

PAYMENT

 

No complaints regarding subject’s payments have been reported.

 

ADVERSE DATA

 

Performance Defaults

:

No record found

Payment Defaults

:

No record found

Adverse Press Coverage

:

No record found

Litigations

:

No record found

Former Business Relationships

:

No record found

 

INVESTIGATOR'S 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.

 

Credit recommendation

Proposed Credit Limit

:

US$ 125,000

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.66.75

UK Pound

1

Rs.100.29

Euro

1

Rs.72.89

LP

1

Rs.0.044

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

TRI

 

 

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%)

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.