MIRA INFORM REPORT

 

 

Report No. :

307315

Report Date :

14.02.2015

 

IDENTIFICATION DETAILS

 

Name :

CONSOLIDATED CONTRACTORS GROUP HOLDING SAL

 

 

Registered Office :

Sabbagh & Khoury Building, Jnah Nicolas Sursok Street, Riad El Solh 112254, Beirut 1107-2100

 

 

Country :

Lebanon

 

 

Date of Incorporation :

24.06.1983

 

 

Com. Reg. No.:

30, Beirut

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

LINE OF BUSINESS :

ENGAGED AS A HOLDING COMPANY, PROVIDING CENTRAL ADMINISTRATIVE, FINANCIAL AND MARKETING SUPPORT FUNCTIONS

 

 

No of Employees :

100

 

 

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 Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

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

SUMMARY

 

Company Name                                    : CONSOLIDATED CONTRACTORS GROUP HOLDING SAL

Country of Origin                                   : Lebanon

Legal Form                                           : Lebanese Joint Stock Company

Registration Date                                  : 24th June 1983

Commercial Registration Number           : 30, Beirut

Issued Capital                                       : LP 151,400,000,000

Paid up Capital                                     : LP 151,400,000,000

Total Workforce                                     : 100

Activities                                               : Holding company

Financial Condition                                : Undetermined

Payments                                             : Nothing detrimental uncovered

 

Company name

 

CONSOLIDATED CONTRACTORS GROUP HOLDING SAL

 

 

company ADDRESS

 

Registered & Physical Address

 

Building            : Sabbagh & Khoury Building

Street               : Jnah Nicolas Sursok Street

Area                 : Riad El Solh

 

PO Box            : 112254

 

Town                : Beirut 1107-2100

Country             : Lebanon

 

Telephone         : (961-1) 847777 / 855856

Facsimile          : (961-1) 856857

Mobile              : (961-3) 603421

Email                : cccbto@cyberia.net.lb

 

Premises

 

Subject operates from a medium sized suite of offices that are owned and located in the Central Business Area of Beirut.

 

 

KEY PRINCIPALS

 

     Name                                                                                               Position

 

·       Hassib J Sabbagh                                                                            Chairman

 

·       Said T Khoury                                                                                  President

 

·       Mahmoud Abdul Baki                                                                        Vice President

 

·       Tawfic S Khoury                                                                               Director

 

·       Samer S Khoury                                                                               Director

 

·       Suheil H Sabbagh                                                                             Director

 

·       Yusuf A Kan’an                                                                                General Manager

 

·       Suhail Nasser                                                                                   Finance Manager

 

·       Mrs Dina Nasser                                                                               Accountant

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 24th June 1983

 

Legal Form                  : Lebanese Joint Stock Company

 

Commercial Reg. No.   : 30, Beirut

 

Issued Capital              : LP 151,400,000,000

 

Paid up Capital            : LP 151,400,000,000

 

Name of Shareholder (s)

 

·       Hassib J Sabbagh

 

·       Said T Khoury

 

·       Mahmoud Abdul Baki

 

·       Tawfic S Khoury

 

·       Samer S Khoury

 

·       Suheil H Sabbagh

 

 

AFFILIATED COMPANIES

 

·       Consolidated Contractors Company (Bahrain) WLL

Bahrain

 

·       Consolidated Contractors International Company ESC

Egypt

 

·       National Steel Fabrication Company ESC (NSFC)

Egypt

 

·       Sicon Oil & Gas SRL

Italy

 

·       Consolidated Contractors Company Ltd

Jordan

 

·       Consolidated Contractors Company (Kuwait) WLL

Kuwait

 

·       Consolidated Contractors International Co Sal

Lebanon

 

·       Cogent Consolidated Contractors (Malaysia)

Malaysia

 

·       Consolidated Contractors Company - Morocco SA

Morocco

 

·       Consolidated Contractors Oil, Gas and Water Ltd

Nigeria

 

·       Consolidated Contractors Company Oman LLC

Oman

 

·       Consolidated Contractors Company Pvt Ltd

Pakistan

 

·       Tayseer Contracting Company WLL

Qatar

 

·       Al Zamil - National Petroleum Construction Company WLL

Saudi Arabia

 

·       Consolidated Contractors Company WLL

Saudi Arabia

 

·       Consolidated Contractors Pipeline Investments Ltd

Saudi Arabia

 

·       Al Ghandi & Consolidated Contractors International Company LLC

United Arab Emirates

 

·       National Petroleum Construction Company (NPCC)

United Arab Emirates

 

·       The Morganti Group Inc

United States of America

 

·       ACWa Services Ltd

United Kingdom

 

·       Consolidated Contractors International (UK) Ltd

United Kingdom

 

·       Consolidated Insurance Brokers Ltd

     United Kingdom

 

·       Building & Development Company WLL

Yemen

 

 

OPERATIONS

 

Activities: Engaged as a holding company, providing central administrative, financial and marketing support

      functions.

 

Subject has a workforce of 100 employees.

 

 

FINANCIAL DATA

 

Companies registered in Lebanon are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Arab Bank Plc

PO Box: 111015

Beirut

Tel: (961-1) 370122 / 370155 / 862860

     Fax: (961-1) 868130 / 602408

 

·       Banque Audi Sal

Ashrafieh Branch

PO Box: 112560

Beirut

Tel: (961-1) 200250 / 200251

Fax: (961-1) 200955

 

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                               July 2014

Credit amount                                       50,000

Amount overdue                                    0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                       No Complaints

Currency                                               Euros

 

 

GENERAL COMMENTS

 

Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 62.13

UK Pound

1

Rs. 95.77

Euro

1

Rs. 71.05

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

Report Prepared by :

DPT

 

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.