MIRA INFORM REPORT

 

 

Report No. :

301915

Report Date :

14.01.2015

 

IDENTIFICATION DETAILS

 

Name :

EPIPHANIOU RECYCLING SAL

 

 

Registered Office :

Gholam Building, Jean Jalkh Street, Ghaz, PO Box 110558, Beirut

 

 

Country :

Lebanon

 

 

Financials (as on) :

31.12.2013

 

 

Date of Incorporation :

18.01.2005

 

 

Com. Reg. No.:

1800869

 

 

Legal Form :

Lebanese Offshore Joint Stock Company

 

 

Line of Business :

Engaged as providers of recycling services and distributors and exporters of ferrous and non-ferrous scrap metals.

 

 

No. of Employee :

5

 

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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

SUMMARY

 

Company Name                                    : EPIPHANIOU RECYCLING SAL

Country of Origin                                   : Lebanon

Legal Form                                           : Lebanese Offshore Joint Stock Company

Registration Date                                  : 18th January 2005

Commercial Registration Number           : 1800869

Issued Capital                                       : US$ 20,000

Paid up Capital                                     : US$ 20,000

Total Workforce                         : 5

Activities                                               : Providers of recycling services and distributors of scrap metals.

Financial Condition                                : Fair

Payments                                             : Nothing detrimental uncovered

Operating Trend                                    : Steady

Person Interviewed                                : Andros Epiphaniou, Managing Director

 

COMPANY NAME

 

EPIPHANIOU RECYCLING SAL

 

 

ADDRESS

 

Registered & Physical Address

 

Building                        : Gholam Building

Street               : Jean Jalkh Street

Area                 : Ghaz

PO Box            : 110558

Town                : Beirut

Country : Lebanon

Telephone         : (961-1) 200532 / 217435

Facsimile          : (961-1) 323676

Mobile              : (961-3) 383744

Email                : seman@inco.com.lb / scrap@epiphaniou.com

 

Premises

 

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

 

 

KEY PRINCIPALS

 

Name                                                                                       Position

 

Andros Epiphaniou                                                                    Managing Director

 

Phanous Epiphaniou                                                                 Director

 

Samir Abi Alana                                                                        Director

 

Karim Abi Alana                                                                        Director

 

Effie Exenofonios                                                                     Administration Executive

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 18th January 2005

 

Legal Form                  : Lebanese Offshore Joint Stock Company

 

Commercial Reg. No.   : 1800869

 

Issued Capital              : US$ 20,000

 

Paid up Capital            : US$ 20,000

 

Name of Shareholder (s)

 

Andros Epiphaniou

 

Phanous Epiphaniou

 

Samir Abi Alana

 

Karim Abi Alana

 

Epiphaniou Scrap Metal Ltd

21 Markou Drakou

Pallouriotissa

PO Box: 29078

Nicosia 1621

Cyprus

Tel: (357-22) 793390

Fax: (357-22) 431534

 

 

AFFILIATED COMPANIES

 

Phanos N Epiphaniou Ltd

 

Phanos N Epiphaniou & Bros Ltd

 

Interweld A Epiphaniou Industries Ltd

 

Domoplex Ltd

 

 

OPERATIONS

 

Activities: Engaged as providers of recycling services and distributors and exporters of ferrous and non-ferrous scrap metals.

 

Import Countries: Europe and GCC countries.

 

International Suppliers:

 

J & P Ltd                      Cyprus

Electricity of Cyprus      Cyprus

 

Operating Trend: Steady

 

Subject has a workforce of 5 employees.

 

 

FINANCIAL DATA

 

Financial highlights provided by local sources are given below:

 

Currency: United States Dollars (US$)

 

                                                Year Ending 31/12/12:              Year Ending 31/12/13:

 

Total Sales                                US$ 18,295,000             US$ 20,500,000

 

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

 

The above figures were provided by Mr Andros Epiphaniou, Managing Director

 

 

BANKERS

 

Byblos Bank Sal

PO Box: 115605

Beirut

Tel: (961-1) 898200

Fax: (961-1) 898209

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

Date of transaction                                June 2011

Credit amount                                       100,000

Amount overdue                                    0

Payment terms                                      60 days

Payment Method                                   Letters of Credit

Paying record                                       No Complaints

Currency                                               Euros

 

 

GENERAL 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.

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.10

UK Pound

1

Rs.94.10

Euro

1

Rs.73.42

 

 

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

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.