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MIRA INFORM REPORT
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Report No. : |
487918 |
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Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
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Name : |
MAZBOUDI SWISS TIME SARL |
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Registered Office : |
Centre Elite, 1st Floor, Ouzai Street, Barbir, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
02.08.2001 |
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Com. Reg. No.: |
2509022, Beirut |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the manufacture of jewellery, specializing in
the setting of diamonds on watches. |
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No. of Employees : |
6 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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.
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 2011-17, 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.
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Source
: CIA |
SUMMARY
Company Name :
MAZBOUDI SWISS TIME SARL
Also Known As :
SWISS TIME
Country of Origin :
Lebanon
Legal Form :
Limited Liability Company
Registration Date :
2nd August 2001
Commercial Registration Number :
2509022, Beirut
Issued Capital :
LP 30,000,000
Paid up Capital : LP
30,000,000
Total Workforce :
6
Activities :
Manufacturers of jewellery
Financial Condition :
Fair
Payments :
No Complaints
COMPANY
NAME
MAZBOUDI SWISS TIME SARL
ALSO
KNOWN AS
SWISS TIME
ADDRESS
Registered &
Physical Address
Building : Centre Elite,
1st Floor
Street : Ouzai Street
Area : Barbir
Town : Beirut
Country : Lebanon
Telephone : (961-1) 655607
Facsimile : (961-1) 655607
Mobile : (961-3)
915810
Email : swisstime_12@hotmail.com
Premises
Subject operates from a small suite of offices and a studio that are
rented and located in the Central Business Area of Beirut.
KEY
PRINCIPALS
Name Position
Yousef Mazboudi Managing
Director
Nasreen Shehab Director
LEGAL
FORM & OWNERS
Date of Establishment : 2nd
August 2001
Legal Form : Limited Liability
Company
Commercial Reg. No. : 2509022, Beirut
Issued Capital : LP 30,000,000
Paid up Capital : LP 30,000,000
Name of
Shareholder (s)
Yousef Mazboudi
Nasreen Shehab
OPERATIONS
Activities: Engaged in the manufacture of jewellery, specialising in the setting of
diamonds on watches.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 6 employees.
FINANCIAL
DATA
Financial
highlights provided by local sources are given below:
Currency: Lebanese
Pounds (LP)
Year
Ending 31/12/16: Year Ending
31/12/17:
Total Sales LP
8,120,000,000 LP
8,275,000,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
Byblos Bank
Byblos Tower Building
Elias Sarkis Avenue
Ashrafieh
PO Box: 115605
Beirut
Tel: (961-1) 335200
Fax: (961-1) 339436
PAYMENT
HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL
COMMENTS
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 63.75 |
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1 |
INR 89.39 |
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Euro |
1 |
INR 78.75 |
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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 : |
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
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
·
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.