MIRA INFORM REPORT

 

 

Report No. :

344685

Report Date :

17.10.2015

 

IDENTIFICATION DETAILS

 

Name :

FOUAD & TOUFIC FADEL & CO SAL

 

 

Registered Office :

Toufic Fadel Building, 1st Floor Mar Youssef Street Bauchrieh Metn Baabda 90444

 

 

Country :

Lebanon

 

 

Date of Incorporation :

1936

 

 

Com. Reg. No.:

2003510

 

 

Legal Form :

Lebanese Joint Stock Company

 

 

Line of Business :

Distributors of forest products, including pulp, paper and wooden panels.

 

 

No. of Employee :

15

 

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 :

Slow but correct

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

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. 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

 

FOUAD & TOUFIC FADEL & CO SAL

 

                                                                                                                                                               

ORDER DETAILS

                                                                                                                                                               

Business/ Subject Name

:

FOUAD & TOUFIC FADEL & CO SAL

Address

:

 1st Floor, Toufic Fadel Building Mar Youssef St, Bauchrieh Metn Baabda, Lebanon

 

                                                                                                                                                               

IDENTIFICATION & CONTACT DETAILS        

                                                                                                                                                               

1) Name (s):

Organization Official Name

:

FOUAD & TOUFIC FADEL & CO SAL

 

2) Registered Address:

Address

:

Toufic Fadel Building, 1st Floor Mar Youssef Street Bauchrieh Metn

Town

:

Baabda

PO Box

:

90444

Phone (s)

:

(961-1) 248000

 

 

(961-1) 249111

Email

:

fsamara@fadelgroup.com

Country

:

Lebanon

 

3) Operational Address & Contact Details:

Address

:

Toufic Fadel Building, 1st Floor Mar Youssef Street Bauchrieh Metn

Town

:

Baabda

PO Box

:

90444

Phone (s)

:

(961-1) 248000

 

 

(961-1) 249111

Email

:

fsamara@fadelgroup.com

Country

:

Lebanon

 

                                                                                                                                                               

LEGAL FORM & INCORPORATION (REGISTRATION) DETAILS       

                                                                                                                                                               

Legal Form - Category

:

Lebanese Joint Stock Company

Date of Registration

:

1936

VAT Number

:

601-680782

Commercial Registration Number

:

2003510, Baabda

 

                                                                                                                                                               

KEY FACTS       

                                                                                                                                                               

Operational Status

:

Steady

Financial Condition

:

Fair

Primary Business Activity

:

Distributors of forest products, including pulp, paper and wooden panels.

Number of Employees

:

15

Capital

:

LP 30,000,000

 

                                                                                                                                                               

CAPITAL DETAILS        

                                                                                                                                                               

Issued Capital:

NO OF SHARES

VALUE OF SHARE

AMOUNT

N/A

N/A

LP 30,000,000

 

Paid Up Capital:

NO OF SHARES

 

AMOUNT

N/A

N/A

LP 30,000,000

                                                                                                                                                               

 

FINANCIAL DATA    

           

Financial highlights provided by local sources are given below:

Currency: United States Dollars (US$)

 

Year Ending 31/12/13

Year Ending 31/12/14

Total Revenue

US$ 26,450,000

US$ 30,000,000

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

The above figures were provided by Mr Fadi Thamer, Finance Manager

 

                                                                                                                                                               

BANKER       

                                                                                                                                                               

1

Name

Byblos Bank

 

Address

Byblos Tower Building Elias Sarkis Avenue Ashrafieh

 

PO Box

115605 Beirut

 

Tel

(961-1) 335200

 

Fax

(961-1) 339436

 

                                                                                                                                                               

SHAREHOLDERS     

                                                                                                                                                               

Sr.No

Name of Shareholders

1

Toufic Nagib Fadel

2

Fouad Toufic Nagib Fadel

3

Nagib Toufic Nagib Fadel

 

                                                                                                                                                               

SENIOR MANAGEMENT

                       

Sr.No

Name

Nationality

Dsignation

1

Toufic Nagib Fadel

n/a

Chairman

2

Fouad Toufic Nagib Fadel

n/a

Managing Director

3

Nagib Toufic Nagib Fadel

n/a

Director

4

Fadi Thamer

n/a

Finance Manager

 

                                                                                                                                                               

AFFILIATED COMPANIES         

                                                                                                                                                               

Sr.No

Name

1

Droguerie Fouad Fadel & Cie

2

Omnicolor Sarl

3

Fortrade Offshore Sal

4

Specialists International Company for Feed and Additives Ltd

5

Paper & Co Sal Offshore

6

Shippers Ltd

7

 Foundation Fouad & Toufic Fadel

 

                                                                                                                                                               

INTERNATIONAL TRADE ACTIVITY MARKETS         

                                                                                                                                                               

Sr.No

Country

Activity

1

Finland

Import

 

International Suppliers:

 

Name

 

 

 

 

 

Country

 

 

1

Stora Enso

n/a

2

Finland

n/a

 

 

 

 

 

                                                                                                                                                                 

PREMISES          

                                                                                                                                                               

Subject operates from a small suite of offices that are owned and located in the Central Business Area of Baabda.

 

 

 

                                                                                                                                                               

PAYMENT     

                                                                                                                                                               

No complaints regarding subject’s payments have been reported.

 

                                                                                                                                                               

ADVERSE DATA      

                                                                                                                                                               

Performance Defaults

:

No record found

Payment Defaults

:

No record found

Adverse Press Coverage

:

No record found

Litigations

:

No record found

Former Business Relationships

:

No record found

 

                                                                                                                                                               

INVESTIGATOR'S COMMENTS      

                                                                                                                                                               

Person Interviewed   : Fadi Thamer, Finance Manager

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.65.11

UK Pound

1

Rs.99.50

Euro

1

Rs.74.24

 

INFORMATION DETAILS

 

Analysis Done by :

KIN

 

 

Report Prepared by :

SDA

 

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.