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MIRA INFORM REPORT
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Report No. : |
504020 |
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Report Date : |
19.04.2018 |
IDENTIFICATION DETAILS
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Name : |
MAM SAL OFFSHORE |
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Registered Office : |
Unesco Centre, 4th Floor, Office No. 19, Verdun, Beirut |
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Country : |
Lebanon |
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Date of Incorporation : |
16.06.2010 |
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Com. Reg. No.: |
1804357 |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Subject holds a general trade licence, enabling
it to distribute general merchandise. |
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No. of Employees : |
4 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Maximum Credit Limit : |
US$ 20,000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous
Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Lebanon |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
1.1 million registered Syrian refugees, has increased internal tension and slowed
economic growth to the 1-2% range in 2011-17, after four years of averaging 8%
growth. Syrian refugees have increased the labor supply, but are blamed for
pushing more Lebanese into unemployment. Chronic fiscal deficits have increased
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, salaries for
government workers, and transfers to the electricity sector. These limitations
constrain other government spending, limiting its ability to invest in
necessary infrastructure improvements, such as water, electricity, and
transportation. The Lebanese government in 2017 passed initiatives to encourage
foreign investment to improve the country’s infrastructure and exploit offshore
energy resources.
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Source
: CIA |
SUMMARY
Company Name :
MAM SAL OFFSHORE
Country of Origin :
Lebanon
Legal Form :
Lebanese Joint Stock Company
Registration Date :
16th June 2010
Commercial Registration Number :
1804357
Issued Capital :
LP 30,000,000
Paid up Capital :
LP 30,000,000
Total Workforce :
4
Activities :
General trade licence
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
Recommended Credit Limit :
US$ 20,000
COMPANY
NAME
MAM SAL OFFSHORE
ADDRESS
Registered &
Physical Address
Building :
Unesco Centre, 4th Floor, Office No. 19
Area : Verdun
Town : Beirut
Country : Lebanon
Telephone : (961-1) 797433
Facsimile : (961-1) 797499
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Beirut.
KEY
PRINCIPALS
Name Position
Mohamed Abdalla Amine Chairman
Mohamed Arkan Seblani Director
Khalil Hassan Fakih Director
Ghina Raad Office
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 16th
June 2010
Legal Form : Lebanese Joint
Stock Company
Commercial Reg. No. : 1804357
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Name of
Shareholder (s) Percentage
Mohamed Arkan Seblani 50.00%
Mohamed Abdalla Amine 46.67%
Khalil Hassan Fakih 3.33%
AFFILIATED
COMPANIES
Unesco Centre, 4th
Floor, Office No. 19
Verdun
Beirut
Tel: (961-1)
797433
Fax: (961-1)
797499
Impulse International Sal Offshore
Verdun
Beirut
Tel: (961-1)
797433
Fax: (961-1)
797499
M Marine Sal Offshore
Unesco Centre, 4th Floor, Office No. 19
Verdun
Beirut
Tel: (961-1) 797433
Fax: (961-1) 797499
Unesco Centre, 4th
Floor, Office No. 19
Verdun
Beirut
Tel: (961-1)
797433
Fax: (961-1)
797499
OPERATIONS
Activities: Subject holds a general trade licence,
enabling it to distribute general merchandise.
Subject has a workforce of 4 employees.
FINANCIAL
DATA
Companies registered in Lebanon are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
Bank of Beirut Sal
Clemanceau Street
PO Box: 117354
Beirut
Tel: (961-1) 360850 / 350723
Fax: (961-1) 360850
PAYMENT
HISTORY
Unknown
CREDIT
Recommendation
Recommended credit limit: US$
20,000
GENERAL
COMMENTS
Please note that we were unable to contact the subject directly during
our investigation.
The subject and its shareholders/owners have been searched in the
following databases; Office of Foreign Assets Control (OFAC), United Nations
Security Council Sanctions, Australian Sanctions List, US Consolidated
Sanctions List, EU Financial Sanctions List and UK Financial Sanctions List and
nothing adverse could be found on the exact names listed within the report.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.68 |
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1 |
INR 93.98 |
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Euro |
1 |
INR 81.30 |
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LBP |
1 |
INR 0.043 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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VIV |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
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Payment
record
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Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.