MIRA
INFORM REPORT
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Report Date : |
29th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
H. B.
MORNINGSTAR INDUSTRIAL LIMITED |
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Registered Office : |
335
Clayson Road, Weston, Ontario M9m 2h4, Canada |
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Country : |
Canada |
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Date of Incorporation : |
03/01/1989 |
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Legal Form : |
Corporation
- Private |
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Line of Business : |
Manufacturer
and Wholesaler of welded and woven wire products. |
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 : |
Usually
Correct |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE SUMMARY
Company Name : H.B.
MORNINGSTAR INDUSTRIES LIMITED
Address : 335 CLAYSON ROAD
City : WESTON
State/Province : ONTARIO
Zip
Code : M9M 2H4
Country : CANADA
Telephone : 416 745-3547
Facsimile : 416 745-1513
Legal
Form : Corporation -
Private
Website : morningstarwire.com
Maj.
Shareholder : The Ross Family
Opinion : up to $100,000
Business Activity : H.B. MORNINGSTAR INDUSTRIES LIMITED
is engaged as a manufacturer and
wholesaler of welded and woven wire products.
Founded
(D/M/Y) : /
/1981
As
of :
Sales
/ Revenue :
Net
Income :
Total
Equity :
NOTE TO CLIENT
Update:
Banking Reference Information
Vice
President of Finance, Mr. Ron Cook provided general information for this
report.
REQUESTED
NAME : H B MORNINGSTAR
INDUSTRIAL LIMITED
LEGAL
NAME : H.B.
MORNINGSTAR INDUSTRIES LIMITED
REQUESTED
ADDRESS : 335 CLAYTON ROAD
CORRECT
ADDRESS : 335 CLAYSON ROAD
NOTE: An employee count was declined.
LEGAL
Legal
Form :
Corporation - Private
Since (D/M/Y): 03/01/1989
State/Province
of Incorporation : ON
Status : ACTIVE
Previous
Legal Form:
Company
is NOT required to publish an annual financial report.
REGISTRATION
NUMBER : 000812423
REGISTRATION
DATE : JAN 3, 1989
Managers/Key Personnel
Mr.
J.R. Ross President
Ms.
Harriet Ross Vice
President
Mr.
Ron Cook Vice President - Finance
OWNERS
The
Ross Family
% Majority
AFFILIATED ENTITIES
There
are no subsidiaries, divisions or parent companies.
BANKS
SCOTIA
BANK
40
KING STREET
WEST
ONTARIO ON
Telephone : 888 855-1234
Facsimile : 877 909-7038
Account
Number:
Account
Manager:
The
bank confirmaed that the subject company maintains an account with them,
however they declined to provide any additional information without a signed
authorization which was declined.
PAYMENT HISTORY
------------------------------------------------------------------------------
Supplier's Name/Industry
Terms Amount/Pay Habits/Comments
Rptd Open Credit
Credit High Total
Current Past Due/Pay Period
Date Date Limit
Limit Dt. Credit Owing $
1st 2nd 3rd
------------------------------------------------------------------------------
Contr-Electrical Wor:
*Nov 0 79
79 79 0
0 0
Utility Systems:
*Nov 0 776 776 776 0
0 0
CITI COMMERCE SOLUTI:
800-233-8619 DLA-2006/10/27 1,142 #
*Nov Apr/1995 6,000 1,286 626 626 0
0 0
Transportation Serv:
Merged accts
*Nov 0 527 527 527 0
0 0
Mfr-Paper Products:
*Oct 0 1,728 1,728 1,728 0
0 0
Whlsl-Ind Mach Sppls:
*Oct 0 271 271 271 0
0 0
Transportation Serv:
*Oct 0 254 254 254 0
0 0
Whlsl-Ind Mach Sppls:
*Oct 0 2,170
2,170 2,170 0
0 0
WASTE MANAGEMENT:
905-595-3330
*Sep 0 2,111 2,111 2,111 0
0 0
DICOM EXPRESS INC.:
514-636-8033
*Sep 0 43 43 0 43
0 0
Trucking:
*Sep 0 110 110 110 0
0 0
------- ------- ------- -------
------- -------
P.I. = 0 90 Days 9,355 8,695 8,652
43 0 0
Reported
------- ------- ------- ------- ------- -------
Trucking (APTA):
*Jun 0 2,500 74 74 0
0 0
Transportation Serv:
*May 0 23 23 23 0
0 0
Wholesale-Elec Equip:
*May 0 500 315 315 0
0 0
ACKLAND GRAINGER CAN:
905-764-8989
*Apr 0 5,000 469 469 0
0 0
Mfr - Fabricated Met:
*Feb 0 37,945 37,944 37,944 0
0 0
Mfr-Men & Boys Wear:
*Jan 0 797 797 0 797
0 0
STEPHENSON'S RENTALL:
905-507-3650
*Oct 0 1,439 1,439 1,439 0
0 0
------- ------- ------- -------
------- -------
P.I. = 1 Total 57,559 49,756 48,916
840 0 0
Reported
------- ------- ------- ------- ------- -------
------------------------------------------------------------------------------
Payment
C.I. Number of Total
Current Overdue
Quarters Index Score
Suppliers Owing $ 1st 2nd 3rd
------------------------------------------------------------------------------
3 Qtr/2006 0 3 9 5,860 5,817 43 0 0
2 Qtr/2006 3 0 12 10,381 9,483 811 87 0
1 Qtr/2006 1 3 8 44,297 43,500 797 0 0
4 Qtr/2005 0 5 6 3,527 3,527 0 0 0
3 Qtr/2005 1 6 12 9,284 9,070 214 0 0
2 Qtr/2005 19 3 10 17,162 8,597
7,343 1,222 0
1 Qtr/2005 0 5 7 2,012 2,012 0 0 0
4 Qtr/2004 0 11 5 1,530 1,513
17 0 0
3 Qtr/2004 11 5 7 1,799 1,574 0 225 0
FINANCIAL INFORMATION
No
financial figures regarding the subject company could be obtained directly from
management or from outside sources at the time of this report.
CURRENT OPERATIONS
NAICS
Code : 332618 Other Fabricated Wire Product
Manufacturing
SIC
Code : 3315
Business Activity
H.B.
MORNINGSTAR INDUSTRIES LIMITED is engaged as a manufacturer and wholesaler of
welded and woven wire products.
The
products are provided to the manufacturing, construction and commercial
industries throughout the world.
The
heading address is the headquarters and sole location for the subject company
PUBLIC RECORD
No
liens, judgments or bankruptcy filings were found.
GENERAL COMMENTS
H.B.
MORNINGSTAR INDUSTRIES LIMITED is well established with operations dating from
1981. Payments are generally made on time and the operation history is clear.
The subject is considered to be responsible for normal business transactions at
this time.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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