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MIRA INFORM REPORT
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Report No. : |
497882 |
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Report Date : |
16.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SPORT
FOR ALL SARL |
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Registered Office : |
Jean
Abi Jaoude Building, Main Road, Fanar, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
13.03.2008 |
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Com. Reg. No.: |
2012267 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Subject
Engaged in the import and distribution of sports equipment, sportswear and
provision of management services of sports facilities |
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No. of Employees : |
15 |
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 (30.09.2017) |
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 :
SPORT FOR ALL SARL
Country of Origin :
Lebanon
Legal Form :
Limited Liability Company
Registration Date :
13th March 2008
Commercial Registration Number : 2012267
Issued Capital :
LP 5,000,000
Paid up Capital :
LP 5,000,000
Total Workforce :
15
Activities :
Distribution of sports equipment, sportswear and provision of management
services of sports facilities
Financial Condition :
Fair
Payments :
No
Complaints
Operating Trend :
Steady
COMPANY NAME
SPORT FOR ALL SARL
ADDRESS
Registered & Physical Address
Building :
Jean Abi Jaoude Building
Street :
Main Road
Area :
Fanar
Town :
Beirut
Country : Lebanon
Telephone :
(961-1) 898637 / 872392
Facsimile :
(961-1) 898637
Mobile :
(961-3) 213558 / (961-76) 331677
Email : sportsforcellregional@gmail.com
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
Bassim Bechara Ad Managing
Director
Jean Yousef Abi Jaoude Director
LEGAL
FORM & OWNERS
Date of Establishment : 13th
March 2008
Legal Form : Limited
Liability Company
Commercial Reg. No. :
2012267
Issued Capital : LP
5,000,000
Paid up Capital :
LP 5,000,000
Name of Shareholder (s)
Bassim Bechara Ad
Jean Yousef Abi Jaoude
AFFILIATED
COMPANIES
Sport For All Sal (Offshore)
Fanar
Beirut
CR No. 1804192
OPERATIONS
Activities: Engaged in the import and distribution
of sports equipment, sportswear and provision of management
services of sports facilities.
Import Countries: Europe and the Far East
Operating Trend: Steady
Subject has a workforce of 15 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
4,215,000,000 LP
4,580,000,000
Local sources consider subject’s financial condition to be
Fair.
The above financial figures are based on estimations by our
local sources.
BANKERS
Banque Audi Sal
Ashrafieh Branch
PO Box: 112560
Beirut
Tel: (961-1) 200250 / 200251
Fax: (961-1) 200955
PAYMENT
HISTORY
No Complaints
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.
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 64.94 |
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1 |
INR 90.72 |
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Euro |
1 |
INR 80.32 |
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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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DIV |
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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
·
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.