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MIRA INFORM REPORT
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Report No. : |
504017 |
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Report Date : |
20.04.2018 |
IDENTIFICATION DETAILS
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Name : |
LAMA FOODS INTERNATIONAL SARL |
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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 : |
31.08.2010 |
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Com. Reg. No.: |
1012499 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject engaged in the import and distribution of general foodstuffs,
including meat and other 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 : |
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
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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 :
LAMA FOODS INTERNATIONAL SARL
Country of Origin :
Lebanon
Legal Form :
Limited Liability Company
Registration Date : 31st August 2010
Commercial Registration Number : 1012499
Issued Capital :
LP 5,000,000
Paid up Capital :
LP 5,000,000
Total Workforce :
4
Activities :
Distributors of general foodstuffs, including meat and other general
merchandise
Financial Condition :
Undetermined
Payments :
No
Complaints
Recommended Credit Limit :
US$ 20,000
COMPANY
NAME
LAMA FOODS
INTERNATIONAL SARL
ADDRESS
Registered & Physical Address
Building :
Unesco Centre, 4th Floor, Office No. 19
Area : Verdun
Town :
Beirut
Country : Lebanon
Telephone :
(961-1) 454527
Facsimile :
(961-1) 454528
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
Fadlalla Ibrahim Attar Director
Khalil Hassan Fakih Director
Mariam Mansour Purchasing
Manager
LEGAL
FORM & OWNERS
Date of Establishment : 31st
August 2010
Legal Form : Limited
Liability Company
Commercial Reg. No. :
1012499
Issued Capital : LP
5,000,000
Paid up Capital :
LP 5,000,000
Name of Shareholder (s) Percentage
Mohamed Abdalla Amine 81%
Fadlalla Ibrahim Attar 18%
Khalil Hassan Fakih 1%
AFFILIATED
COMPANIES
Sierra Gas Sal (Offshore)
Unesco Centre, 4th Floor, Office No. 19
Verdun
Beirut
Tel: (961-1) 797433
Fax: (961-1) 797499
Impulse International Sal Offshore
Unesco Centre, 4th Floor, Office No. 19
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
Mam Sal Offshore
Unesco Centre, 4th Floor, Office No. 19
Verdun
Beirut
Tel: (961-1) 797433
Fax: (961-1) 797499
OPERATIONS
Activities: Engaged in the import and distribution
of general foodstuffs, including meat and other 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
No complaints regarding subject’s payments have been
reported.
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
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.78 |
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1 |
INR 93.42 |
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Euro |
1 |
INR 81.39 |
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LBP |
1 |
INR 0.044 |
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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PRA |
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Report Prepared
by : |
KET |
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
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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.