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MIRA INFORM REPORT
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Report No. : |
485923 |
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Report Date : |
17.01.2018 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL ELECTRICAL GROUP HOLDING
SAL |
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Registered Office : |
Manhattan Building, Street No. 250, Badaro, Beirut |
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Country : |
Lebanon |
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Date of Incorporation : |
24.01.2006 |
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Com. Reg. No.: |
1900620 |
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Legal Form : |
Lebanese Joint Stock Company |
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Line of Business : |
Subject is engaged in the provision of general electrical
investment and contracting services. |
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No. of Employees : |
10 |
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$ 25,000 |
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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 (30.06.2017) |
Current Rating (30.09.2017) |
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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 2011-16, 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.
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Source
: CIA |
SUMMARY
Company Name : GLOBAL ELECTRICAL GROUP HOLDING SAL
Country of Origin : Lebanon
Legal Form : Lebanese Joint Stock Company
Registration Date : 24th January 2006
Commercial Registration Number : 1900620
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Total Workforce : 10
Activities : Providers of general electrical investment and contracting services
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 25,000
COMPANY
NAME
GLOBAL ELECTRICAL GROUP HOLDING SAL
ADDRESS
Registered &
Physical Address
Building : Manhattan Building
Street : Street No. 250
Area : Badaro
Town : Beirut
Country : Lebanon
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
· Telal Khalil Shaheen Managing
Director
· Mohamed Ibrahim Bezi Director
· Fadi George Mezji Director
LEGAL
FORM & OWNERS
Date
of Establishment : 24th
January 2006
Legal
Form : Lebanese
Joint Stock Company
Commercial
Reg. No. : 1900620
Issued Capital : LP 30,000,000
Paid up Capital :
LP 30,000,000
Name of Shareholder (s) Percentage
· Telal Khalil Shaheen 50%
· Mohamed Ibrahim Bezi 49%
· Fadi George Mezji 1%
OPERATIONS
Activities: Engaged in the provision of general electrical
investment and contracting services.
Subject has a workforce of 10 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
·
Banque Audi Sal
Ashrafieh
Branch
PO
Box: 112560
Beirut
Tel:
(961-1) 200250 / 200251
Fax:
(961-1) 200955
PAYMENT
HISTORY
No complaints regarding subject’s payments have been
reported.
GENERAL
COMMENTS
Please note that the correct name of the subject is “Global Electrical Group Holding SAL” and not
“Global Electrical Group”.
Please note that we were unable to contact the subject
directly during our investigation.
Local sources report that the subject’s operating history is
clear with payment obligations met in a generally timely manner. The financial
position is satisfactory and the company is deemed 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 63.76 |
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1 |
INR 89.91 |
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Euro |
1 |
INR 78.20 |
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LBP |
1 |
INR 0.042 |
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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DIV |
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Report Prepared
by : |
TRU |
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
·
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.