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Report No. : |
341482 |
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Report Date : |
23.09.2015 |
IDENTIFICATION DETAILS
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Name : |
AL SAID
COMMERCIAL ESTABLISHMENT (SAID BOUBESS) |
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Registered Office : |
Mandarin Building, 7th Floor, Verdun Street, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
20.08.1991 |
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Com. Reg. No.: |
59677, Beirut |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution
of general foodstuff products, including coffee, tea, rice, hummus and beans. |
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No. of Employees : |
5 |
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.
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.
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Source
: CIA |
Company Name : AL SAID
COMMERCIAL ESTABLISHMENT (SAID BOUBESS)
Country of Origin : Lebanon
Legal Form :
Sole Proprietorship
Registration Date : 20th
August 1991
Commercial
Registration Number : 59677,
Beirut
Invested Capital : LP 1,200,000
Total Workforce : 5
Activities :
Distributors of general foodstuff products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
AL SAID COMMERCIAL
ESTABLISHMENT (SAID BOUBESS)
Building : Mandarin Building, 7th
Floor
Street : Verdun Street
Town : Beirut
Country : Lebanon
Telephone : (961-1) 745474 / 508968
Facsimile : (961-1) 710248
Email : sboubess@hotmail.com
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Beirut.
Name Position
·
Said
Hosni Boubess Proprietor
& General Manager
Date of Establishment : 20th
August 1991
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 59677,
Beirut
Invested Capital
: LP 1,200,000
Mr Said Hosni
Boubess is the sole proprietor of the business.
Activities: Engaged in the import and distribution of
general foodstuff products, including coffee, tea, rice, hummus and beans.
Import
Countries: Europe and the
Far East.
Operating Trend: Steady
Subject has a
workforce of 5 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 4,780,000,000 LP 4,900,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
·
First
National Bank
Hamra Street
PO Box: 1135453
Beirut
Tel: (961-1) 738500
Fax: (961-1) 343396
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
business is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.63 |
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1 |
Rs.101.73 |
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Euro |
1 |
Rs.73.26 |
INFORMATION DETAILS
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Analysis Done by
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KIN |
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Report Prepared
by : |
NIT |
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 |
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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.