MIRA
INFORM REPORT
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Report Date : |
21st
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AVACO
INTERNATIONAL |
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Registered Office : |
2670 Ambercroft Trail Mississauga Ontario L5m
4k1 Canada |
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Country : |
Canada |
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Date of Incorporation : |
1995 |
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Legal Form : |
General
Partnership |
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Line of Business : |
Wholesalers
of hardware and software based products and systems for engineering
solutions. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE SUMMARY
Company Name: AVACO
INTERNATIONAL
Address: 2670
AMBERCROFT TRAIL
City: MISSISSAUGA
State/Province: ONTARIO
Zip Code: L5M
4K1
Country: CANADA
Telephone: 905-608-1414
Facsimile: 905-608-1414
Legal Form: General
Partnership
Website: www.avaco.ca
Maj. Shareholder: Mr.
Arun Chikermane
@rating Opinion:
Founded (D/M/Y): /
/1995
In KCAD As of: 31/12/2005
Sales / Revenue: 500
Net Income:
Total Equity:
Number of Employees: 2
Business Activity:
The Company is a wholesaler of
hardware and software based products and systems for engineering solutions.
NOTE TO CLIENT
Person Contacted: Mr. Arun Chikermane, President and Co-owner
of the Subject. Mr. Chikermane verified
and updated the information presented to him.
LEGAL
Legal Form: General
Partnership
Since (D/M/Y): 01/10/1995
State/Province of
Incorporation: ON
Status: ACTIVE
Previous Legal Form:
Company is NOT required to
publish an annual financial report.
Please note that when we spoke
with Mr. Chikermane, he stated that the company was registered in the province
of Ontario as a general partnership under the name AVACO INTERNATIONAL in October of 1995, however, when we tried
to look for an Ontario business registration, we were unable to locate one at
this time. Mr. Chikermane could not
provide a registration number when we spoke with him.
Managers/Key Personnel
Mr. Arun Chikermane President
OWNERS
Mr. Arun Chikermane 50.00%
Shareholder
Mrs. Jemma Chikermane 50.00 Shareholder
The Company has no subsidiaries
or affiliates.
BANKS
Royal Bank of Canada
ON
Telephone:
Facsimile:
Account Number:
Account Manager:
This bank only reports credit
information to other banks.
PAYMENT HISTORY
No local trade credit payment
were found for the Subject at this time.
FINANCIAL INFORMATION
FINANCIAL
FIGURES
Year-End (D/M/Y): 31/12/2005 31/12/2005 31/12/2005
Consolidated
Sales / Revenues 500 - -
Mr. Chikermane declined to provide
financial statement information for this report, however, he did provide a 2005
net sales range in the CAD500,000 range.
CURRENT OPERATIONS
NAICS Code: 42
Wholesale Trade
Number of Employees: 2
Business Activity:
The Company is a wholesaler of
hardware and software based products and systems for engineering solutions.
In addition, the Subject is a
provider of installation of electro-mechanical equipment.
The Company imports products from India, the Middle East, and the
United States, and exports to India and the Middle East.
The heading address is the
headquarters for the Subject. The
facility consists of owned residential office space.
The Company has office branch
locations in the United Arab Emirates and India.
TRADE REFERENCES
The following is the Subject's
principal supplier. A fax was sent to
the Company for credit information. If
we receive a response, we will amend the report accordingly.
MORGAN SCHAFFER
Contact: Mr. William Morris
Montreal, QC
Tel: 514-739-1967
Fax: 514-739-0434
PUBLIC RECORD
A search of public records
revealed no derogatory information, Uniform Commercial Codes, or bankruptcy
petitions.
GENERAL COMMENTS
The Subject, registered in
Ontario in 1995, is engaged as a wholesaler of hardware and software products
and systems for engineering solutions.
No payment record was found for the Subject, however, the operating
history is clear. No derogatory
information or bankruptcy petitions were reported or noted. The Company is responsible for normal business
transactions.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No
caution needed for credit transaction. It has above average (strong)
capability for payment of interest and principal sums |
Large |
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56-70 |
A |
Financial & operational base are
regarded healthy. General unfavourable factors will not cause fatal effect.
Satisfactory capability for payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of
interest and principal sums in default or expected to be in default upon
maturity |
Limited with full security |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |