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MIRA INFORM REPORT
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Report No. : |
512109 |
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Report Date : |
30.05.2018 |
IDENTIFICATION DETAILS
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Name : |
LEBANTRONICS SARL |
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Registered Office : |
Al Boustan Building, Sayed Hadi Street, Haduy Nasrallah Boulevard,
Haret Hreik, Beirut |
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Country : |
Lebanon |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
12.01.2000 |
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Com. Reg. No.: |
67005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject is engaged in the wholesale and retail of computers, cameras
and related accessories. |
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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 : |
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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Maximum Credit Limit : |
US$ 150,000 |
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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 inadequate intellectual property rights protection. 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 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. The "CEDRE" investment event hosted by France in April 2018 again rallied the international community to assist Lebanon with concessional financing and some grants for capital infrastructure improvements, conditioned upon long-delayed structural economic reforms in fiscal management, electricity tariffs, and transparent public procurement, among many others.
The Syria conflict cut off one of Lebanon's major markets and a transport corridor through the Levant. The influx of nearly one million registered and an estimated 300,000 unregistered Syrian refugees has increased social tensions and heightened competition for low-skill jobs and public services. Lebanon continues to face several long-term structural weaknesses that predate the Syria crisis, notably, weak infrastructure, poor service delivery, institutionalized corruption, and bureaucratic over-regulation. 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. These factors combined to slow economic growth to the 1-2% range in 2011-17, after four years of averaging 8% growth. 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. In early 2018, the Lebanese government signed long-awaited contract agreements with an international consortium for petroleum exploration and production as part of the country’s first offshore licensing round. Exploration is expected to begin in 2019.
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Source
: CIA |
SUMMARY
Company
Name :
LEBANTRONICS SARL
Country
of Origin :
Lebanon
Legal
Form :
Limited Liability Company
Registration
Date : 12th
January 2000
Commercial
Registration Number : 67005
VAT
Number :
200256-601
Issued
Capital :
LP 10,000,000
Paid
up Capital :
LP 10,000,000
Total
Workforce :
10
Activities :
Wholesalers and retailers of computers, cameras and related accessories
Financial
Condition : Fair
Payments :
Nothing detrimental uncovered
Operating
Trend :
Steady
Recommended
Credit Limit : US$
150,000
Person
Interviewed :
Mohamad Adel Taki, Managing
Director
Company
name
COMPANY
NAME:
LEBANTRONICS SARL
ADDRESS
Registered
& Physical Address
Building : Al Boustan Building
Street : Sayed Hadi Street, Haduy
Nasrallah Boulevard
Area : Haret Hreik
Town : Beirut
Country : Lebanon
Telephone : (961-1) 543505
Mobile : (961-3) 643069
Email : info@lebantronics.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
Mohamad Adel Taki Managing
Director
Adnan A Ayad Director
Hassan A Jammoul Director
LEGAL
FORM & OWNERS
Date
of Establishment : 12th January
2000
Legal
Form : Limited Liability Company
Commercial
Reg. No. : 67005
VAT
No. : 200256-601
Issued
Capital : LP 10,000,000
Paid
up Capital : LP 10,000,000
Name
of Shareholder (s)
Mohamad Adel Taki
Adnan A Ayad
Hassan A Jammoul
OPERATIONS
Activities : Engaged in the wholesale
and retail of computers, cameras and related accessories.
Import
Countries : Taiwan and Germany
International
Suppliers:
Delta Taiwan
Adantech Taiwan
Schneider Germany
Operating
Trend:
Steady
Subject
has a workforce of 10 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
4,200,000,000 LP
4,700,000,000
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 67.63 |
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1 |
INR 89.70 |
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Euro |
1 |
INR 78.20 |
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LBP |
1 |
INR 0.045 |
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 : |
DNS |
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
·
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.