|
Report No. : |
306281 |
|
Report Date : |
07.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Year of Establishment : |
2004 |
|
|
|
|
Com. Reg. No.: |
1800616 |
|
|
|
|
Legal Form : |
Lebanese Joint Stock Company |
|
|
|
|
Line of Business : |
Subject is engaged as manufacturer representatives and distributors of thermal and moisture
protection materials. |
|
|
|
|
No. of Employee : |
40 |
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 – 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 |
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. 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 $1.2 billion in funding to improve Lebanon's downtrodden electricity sector, but fiscal limitations will test the government's ability to invest in other areas, such as water.
|
Source
: CIA |
Company Name :
Country of Origin :
Lebanon
Legal Form :
Lebanese Joint Stock Company
Registration Date :
2004
Commercial Registration Number :
1800616
Issued Capital :
LP 30,000,000
Paid up Capital :
LP 30,000,000
Total Workforce :
40
Activities :
Manufacturer
representatives and distributors of thermal and moisture
protection materials
Financial Condition :
Fair
Payments : Nothing
detrimental uncovered
Operating Trend : Steady
Person Interviewed :
Bilal Ibrahim, Sales
Manager
CARLISLE SYNTEC
MIDDLE EAST SAL (OFFSHORE)
Building : Sabbah
Building, 5th Floor
Street : Maamari
Street
Area : Hamra
Town : Beirut
Country : Lebanon
Telephone : (961-1) 738725
/ 753725 / 353171
Facsimile : (961-1) 738731
Mobile : (961-3) 604275
Email : info@carlislemiddleeast.com
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Beirut.
Name Position
· Mohamed Amine
Kazoun Managing
Director
· Chafic Mohamed Amine
Kazoun Director
· Nour Mohamed Amine Kazoun Director
· Bilal Ibrahim Sales
Manager
· George Ibrahim Financial
Controller
Date of
Establishment : 2004
Legal Form : Lebanese Joint
Stock Company
Commercial Reg.
No. : 1800616
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
· Mohamed Amine
Kazoun
· Chafic Mohamed Amine
Kazoun
· Nour Mohamed Amine Kazoun
· BMC (Lebanon) Sarl
Beirut
Lebanon
Activities: Engaged as manufacturer
representatives and distributors of thermal and moisture protection materials.
Subject is the Middle East
product agent and representative for Carlisle Construction Material, USA.
Import Countries: Europe and the Far East.
Operating Trend: Steady
Subject has a workforce of 40 employees.
Financial
highlights provided by local sources are given below:
Currency: United States Dollars (US$)
Year
Ending 31/12/13: Year Ending
31/12/14:
Total Sales US$
28,750,000 US$ 30,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures were confirmed by Mr Bilal Ibrahim, Sales Manager.
·
Beirut Riyad Bank Sal
PO Box: 114668
Beirut
Tel: (961-1) 645702
/ 867360
Fax: (961-1)
867426
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. 61.73 |
|
|
1 |
Rs. 94.65 |
|
Euro |
1 |
Rs. 70.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
PDF |
|
|
|
|
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.