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Report No. : |
310158 |
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Report Date : |
04.03.2015 |
IDENTIFICATION DETAILS
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Name : |
KASSEM MAHFOUZ AND SONS CO |
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Registered Office : |
Mahfouz Building, Mokdad Street, Ghobeiri (Baabda), Beirut |
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Country : |
Lebanon |
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Date of Incorporation : |
10.02.1957 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Subject is engaged in the manufacture of clothing, as well as
importing and distributing textiles and fabrics. |
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No. of Employee : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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. 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 :
KASSEM MAHFOUZ AND SONS CO
Country of Origin :
Lebanon
Legal Form :
Limited Liability Company
Registration Date :
10th February 1957
Commercial Registration Number :
6382, Beirut
VAT Number : 601-79101
Issued Capital :
LP 30,000,000
Paid up Capital :
LP 30,000,000
Total Workforce :
100
Activities :
Manufacture of clothing, as well as importing and distributing textiles and
fabrics
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
KASSEM MAHFOUZ AND
SONS CO
Building : Mahfouz
Building
Street : Mokdad
Street
Area : Ghobeiri
(Baabda)
Town : Beirut
Country : Lebanon
Telephone : (961-1) 552465
Facsimile : (961-1) 841094
Mobile : (961-3)
210121
Email : bmahfouz@cyberia.net.lb
Subject operates from a medium sized suite of offices that are rented and
located in the Central Business Area of Beirut.
Branch Office (s)
Location Description
· Choueifat Area Owned
factory premises
Beirut
Tel:
(961-5) 433399
Please note that subject’s factory is located in Choueifat
Area and not Shwifat Area.
Name Position
· Kassem Mahfouz Managing
Director
· Bassam Kassem
Mahfouz Director
· Mohamed Kassem
Mahfouz Director
· Salah Kassem
Mahfouz Director
· Ali Kassem Mahfouz Director
Date of
Establishment : 10th
February 1957
Legal Form : Limited Liability
Company
Commercial Reg.
No. : 6382, Beirut
VAT No. : 601-79101
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
· Kassem Mahfouz
· Bassam Kassem
Mahfouz
· Mohamed Kassem
Mahfouz
· Salah Kassem
Mahfouz
· Ali Kassem Mahfouz
Activities: Engaged in the manufacture of clothing, as well as importing and
distributing textiles and fabrics.
Import Countries: India and China
Brand Names: KMB
Operating Trend: Steady
Subject has a workforce of approximately 100 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
7,660,000,000 LP
8,200,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
·
Bank of Beirut Sal
Clemanceau Street
PO Box: 117354
Beirut
Tel: (961-1) 360850 / 350723
Fax: (961-1) 360850
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.61.84 |
|
|
1 |
Rs.95.14 |
|
Euro |
1 |
Rs.69.25 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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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 |
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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 |
-- |
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.