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Report No. : |
309105 |
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Report Date : |
25.02.2015 |
IDENTIFICATION DETAILS
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Name : |
FURNITURE AND PLASTIC INDUSTRIES SARL (FAP) |
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Registered Office : |
Hosrayal, Jbeil Vagy, PO Box 1165036, Beirut 1106 2010 |
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Country : |
Lebanon |
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Date of Incorporation : |
1983 |
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Com. Reg. No.: |
16287 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engaged in the manufacture of plastic covers, tableware and furniture. |
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No. of Employees : |
150 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – 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 :
FURNITURE AND PLASTIC INDUSTRIES SARL (FAP)
Country of Origin :
Lebanon
Legal Form :
Limited Liability Company
Registration Date :
1983
Commercial Registration Number :
16287, Beirut
VAT Number :
601-8373
Issued Capital :
LP 30,000,000
Paid up Capital :
LP 30,000,000
Total Workforce : 150
Activities :
Manufacturers of plastic covers, tableware and furniture
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
FURNITURE AND PLASTIC INDUSTRIES SARL (FAP)
Registered & Physical
Address
Location : Hosrayal,
Jbeil Vagy
PO Box : 1165036
Town : Beirut 1106
2010
Country : Lebanon
Telephone : (961-9)
790830-7 / 790970 / 790971 / 790972
Facsimile : (961-9) 790840
Mobile : (961-3)
600217
Email : fap@fapindustries.com
Premises
Subject operates from a large suite of offices and a factory that are
rented and located in the Industrial Area of Beirut.
Branch Office (s)
Location Description
Jounieh Rented
showroom premises
Tel: (961-9) 934212
Jal El Dib Rented
showroom premises
Tel: (961-4) 712155
Sami El Soloh Rented
showroom premises
Tel: (961-1) 386321
Hamra Rented
showroom premises
Tel: (961-1) 750080
Elissar Rented
showroom premises
Tel: (961-4) 911802
Mkalles Rented
showroom premises
Tel: (961-1) 483458
Tripoli Rented
showroom premises
Tel: (961-6) 442189
Tyr Rented
showroom premises
Tel: (961-7) 344830
Mar Mikhael Rented
showroom premises
Tel: (961-1) 555361
Zouk Mosbeh Rented
showroom premises
Tel: (961-9) 226940
Kosba Rented
showroom premises
Tel: (961-76) 519848
Baabda Rented
showroom premises
Tel: (961-5) 953778
Name Position
Eid Shedrawi Managing
Director
Noufal Shedrawi Director
Joseph Rizq General
Manager
Milad Helou Financial
Manager
Date of Establishment : 1983
Legal Form : Limited Liability
Company
Commercial Reg. No. : 16287, Beirut
VAT No. : 601-8373
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Name of Shareholder (s)
Eid Shedrawi
Noufal Shedrawi
Activities: Engaged in the manufacture of plastic covers, tableware and furniture.
Subject is ISO 9001 accredited.
Import Countries: Europe and the Far East
Subject has a workforce of 150 employees.
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.
Bank of Beirut and the Arab Countries Sal
PO Box: 111536
Beirut
Tel: (961-1) 867142 / 869835
Fax: (961-1) 869836
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.62.27 |
|
|
1 |
Rs.96.21 |
|
Euro |
1 |
Rs.70.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
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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 |
|
|
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.