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Report No. : |
329690 |
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Report Date : |
04.07.2015 |
IDENTIFICATION DETAILS
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Name : |
ABOU JAOUDE FOR FOAMING CO (AJAFCO) |
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Registered Office : |
Abou
Jaoude Building, 5th Floor, Main Road, Deir El Harf, Mkalles, P O Box: 12,
Mansourieh, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2014 |
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Year of Establishment : |
1964 |
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Com. Reg. No.: |
148,
Baabda |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is
engaged in the production of mattresses, cushions, pipe lagging and
insulation materials. |
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No. of Employees : |
20 |
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 |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Lebanon |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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 : ABOU JAOUDE
FOR FOAMING CO (AJAFCO)
Country of Origin : Lebanon
Legal Form :
Limited Liability Company
Registration Date : 1964
Commercial
Registration Number : 148, Baabda
Issued Capital : LP
5,000,000
Paid up Capital : LP
5,000,000
Total Workforce :
20
Activities :
Production of mattresses, cushions, pipe lagging and insulation
materials.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
ABOU JAOUDE FOR FOAMING CO (AJAFCO)
Building : Abou Jaoude Building, 5th Floor
Street : Main
road
Area : Deir El Harf, Mkalles
PO Box : 12, Mansourieh
Town : Beirut
Country : Lebanon
Telephone : (961-1) 683620
/ 683621
Facsimile : (961-1) 683619
Mobile : (961-3) 342675
/ 380157 / 474959
Subject operates
from a medium sized suite of offices that are owned and located in the Suburban
Business Area of Beirut.
Name Position
·
Georges Fauzi F Abou Jaoude Managing
Director
·
Anthony
G Abou Jaoude Director
·
Louis G Tawil General
Manager
Date of Establishment : 1964
Legal Form :
Limited Liability Company
Commercial Reg. No. : 148, Baabda
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
·
Georges Fauzi F Abou Jaoude
·
Anthony
G Abou Jaoude
·
Members
of Mr Georges Fauzi F Abou Jaoude’s family
Activities: Engaged in the production of mattresses,
cushions, pipe lagging and insulation materials.
Import
Countries: Belgium
Brand Names: AJAFCO
Operating Trend: Steady
Subject has a
workforce of 20 employees.
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 4,200,000,000 LP 4,325,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque de l'Industrie et du Travail Sal
PO Box: 113948
Beirut
Tel: (961-1) 449910
Fax: (961-1) 446519
Acc No. 110643014341
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.63.40 |
|
|
1 |
Rs.98.94 |
|
Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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>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 |
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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 |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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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 |
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-- |
NB |
New Business |
-- |
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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.