MIRA
INFORM REPORT
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Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ROY LEGUMEX INC. |
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Registered Office : |
250 Caron Street, Box 40, St. Jean, Manitoba, R0G 2B0 |
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Country : |
Canada |
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Date of Incorporation : |
1948 |
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Legal Form : |
Provincially Chartered Corporation – Private |
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Line of Business : |
Processor and seller of dry peas, lentils, dry beans, canary seed and
other specialty crops. |
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: ROY LEGUMEX INC.
Address: 250 CARON STREET
BOX 40
City: ST. JEAN
State/Province: MANITOBA
Zip Code: R0G 2B0
Country: CANADA
Telephone: 204 758-3597
Facsimile: 204 758-3260
Founded (D/M/Y): /
/1948
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees: 30
Legal Form: Provincially Chartered Corporation -
Private
Website: www.legumex.com
Business Activity: The
Company is a processor and seller of dry peas, lentils, dry beans, canary seed
and
other
specialty crops.
NOTE TO CLIENT
Mr. Gerry White, Controller, provided the following information
contained in this report.
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 11/12/1997
State/Province of Incorporation: Manitoba
Status:
ACTIVE
Previous Legal Form:
Federally Chartered Corp. -
Private
Company is NOT required to publish an annual financial report.
The Company is a provincially charted private business.
Entity Name: ROY LEGUMEX INC.
ID Number: 871643763MC0001
Date: 12/11/1997
Status: Active
Managers/Key
Personnel
Mr. Ivan Sabourin
President
Ms. Brigitte Sabourin
Vice President
Mr. Gerry White
Controller
Mr. Robert Lafond
General Manager
Ms. Elaine Sabourin
Secretary
AFFILIATED ENTITIES
DUNCAN SEEDS LTD.
301 South Railway
Morden, Manitoba R6M 1G7
Tel: 204 822-6629
Fax: 204 822-5683
BANKS
MB
Telephone:
Facsimile:
Account Number:
Account Manager:
Bank details could not be obtained.
PAYMENT HISTORY
TRADE ITEMS
------------------------------------------------------------------------------
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
------------------------------------------------------------------------------
SUN VALLEY COOP: 204-324-6956 #
*Mar Jun/1983 0
3,245 3,245 3,245
0 0 0
Arrg Transp of Freig:
*Mar 0
811 811 250
561 0 0
Mfr-Paper Box:
*Mar 0
11,076 11,076 11,076
0 0 0
Business Services:
*Mar 0
150K 68,693 68,518
175 0 0
FEDERATED CO-OPERATI: 306-244-3311 #
*Mar 0
7,337 3,011 3,011
0 0 0
CITI COMMERCE SOLUTI: 800-233-8619 DLA-2007/02/22 472 #
*Mar Feb/1998 5,000
2,002 472 472
0 0 0
Whlsl-Farm Supplies:
*Jan 0
10,000 4,655 4,655
0 0 0
-------
------- ------- ------- ------- -------
P.I. =
0 90 Days 184K
91,963 91,227 736
0 0
Reported ------- ------- ------- ------- -------
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Transportation Serv:
*Dec 0
4,344 4,344 4,344
0 0 0
Agriculture Service: #
*Aug 0
12,257 12,257 12,257
0 0 0
Mfr-Primary Metal:
*Jul 0
2,648 1,435 1,435
0 0 0
Transportation Serv:
*Apr 0
2,862 2,862 2,862
0 0 0
------- -------
------- ------- ------- -------
P.I. =
0 Total 206K 112K 112K 736
0 0
Reported ------- ------- ------- ------- -------
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PAYMENT
TRENDS
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Payment C.I. Number of Total
Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd 3rd
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1 Qtr/2007
0 5 7
91,963 91,227 736 0 0
4 Qtr/2006
1 8 6
84,970 83,355 1,545 49 21
3 Qtr/2006
2 5 8
99,142 93,723 5,323 96 0
2 Qtr/2006
5 5 9
68,589 59,762 8,827 0 0
1 Qtr/2006
7 5 6
15,546 12,897 2,424
225 0
4 Qtr/2005
2 7 10
44,264 41,168 3,078
18 0
3 Qtr/2005
11 5 7
27,500 19,456 8,044 0 0
2 Qtr/2005
0 5 6
28,632 28,632 0 0 0
1 Qtr/2005
5 3 10
21,238 20,055 0
500 683
FINANCIAL INFORMATION
Mr. White, Controller; declined to provide financial statement over the
telephone. He did estimate annual sales to be CAD$60 million. Please note that
we sent a written request to Mr. White via email for detailed financial
statements.
HISTORY
Mr. Alfred Roy founded the Company in 1948. Through its third generation
the Company remains a family owned business. Mr. Roy's grandchildren, Ivan and
Brigitte now operate the business.
CURRENT OPERATIONS
NAICS Code: 311423 Dried and Dehydrated Food Manufacturing
SIC Code: 2034
NAICS Code: 311 Food Manufacturing
Number of Employees:
30
Business Activity:
The Company is a processor and seller of dry peas, lentils, dry beans,
canary seed and other specialty crops.
The Company exports its products to 75 countries.
The heading address is the firm's sole location.
PUBLIC RECORD
A Nationwide search of public and bankruptcy courts revealed no Uniform Commercial
Codes, tax liens, legal actions or bankruptcy filings under the Subject's name.
GENERAL COMMENTS
ROY LEGUMEX INC. processes and sells dry peas, lentils, dry beans,
canary seed and other specialty crops. Payment records are considered to be generally
satisfactory and a search of public records and bankruptcy courts returned no
derogatory information or record of the Company filing a bankruptcy petition.
They are considered generally acceptable for normal trade relations.
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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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)