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Report No. : |
342918 |
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Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
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Name : |
RAYANAS SARL |
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Registered Office : |
Building No. 4847, Verdun Street, Verdun, P O Box: 86, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2014 |
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Year of Establishment : |
1999 |
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Com. Reg. No.: |
75014 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and
Distribution of Jewellery and Watches. |
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No. of Employees : |
6 |
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 – 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 : RAYANAS SARL
Country of Origin : Lebanon
Legal Form :
Limited Liability Company
Registration Date : 1999
Commercial
Registration Number : 75014
VAT Number :
601-20451
Issued Capital : LP
5,000,000
Paid up Capital : LP
5,000,000
Total Workforce :
6
Activities :
Distributors of jewellery and watches
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
RAYANAS SARL
Building : Building No. 4847
Street : Verdun Street
Area : Verdun
PO Box : 86
Town : Beirut
Country : Lebanon
Telephone : (961-1) 800276
Facsimile : (961-1) 800276
Email : ziad67@ive.com
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Beirut.
Name Position
·
Zaid
Yamout Managing
Director
·
Fadi
Damer General
Manager
·
Ranya
Demshqi Sales
Executive
Date of Establishment : 1999
Legal Form :
Limited Liability Company
Commercial Reg. No. : 75014
VAT No. : 601-20451
Issued Capital : LP 5,000,000
Paid up Capital : LP 5,000,000
·
Zaid
Yamout
·
Mrs
Zaid Yamout
Activities: Engaged in the import and distribution of
jewellery and watches.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 6 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 3,600,000,000 LP 3,875,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
Banque
Libano Francaise Sal
PO Box: 11808
Beirut
Tel: (961-1) 200493 / 200490
Fax: (961-1) 200494 / 348845
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.
DIAMOND INDUSTRY – INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance – focused strategies, modern management and technology.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import – export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
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Excerpts from Times of India dated 30th
October 2010 is as under –
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Gem & Jewellery Export Promotion Council in its
statistical data has shown the export of polished diamonds to have increase by
28 % in February 2013. Compared to $ 1.4 bn worth of polished diamond export in
February, 2012, India exported $ 1.84 billion worth of polished diamonds in
February 2013. A senior executive of GJEPC said, “Export of cut and polished
diamonds started falling month-wise after the imposition of 2 % of import duty
on the polished diamonds. But February, 2013 has given a new ray of hope to the
industry as the export of polished diamonds has actually increased by 28 %. It
means the industry is on the track of recovery and round tripping of
diamonds has stopped completely.” Demand has started coming from the US, the
UK, Japan and China. India’s polished diamond export is expected to cross $ 21
bn in 2013-14.
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The banking sector has started exercising restraint
while following prudent risk management norms when lending money to gems and jewellery
sector. This follows the implementation of Basel III accord – a global
voluntary regulatory standard on bank capital adequacy, stress testing and
market liquidity.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.74 |
|
|
1 |
Rs.99.53 |
|
Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
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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 |
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<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.