MIRA
INFORM REPORT
|
Report Date : |
06.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
LAGOON SEAFOOD
PRODUCTS INC. |
|
|
|
|
Registered Office : |
9090 Charles De La
Tour, Montreal, Quebec, H4n 1m2 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Date of Incorporation : |
1993 |
|
|
|
|
Legal Form : |
Provincially
Chartered Corporation - Private |
|
|
|
|
Line of Business : |
Imports and
distributes fresh and frozen seafood products. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: LAGOON
SEAFOOD PRODUCTS INC.
Trade Name(s): POISSONNERIE
LA SIRENE
Address: 9090
CHARLES DE LA TOUR
City: MONTREAL
State/Province: QUEBEC
Zip Code: H4N
1M2
Country: CANADA
Telephone: 514
383-1383
Facsimile: 514
383-6383
Legal Form: Provincially
Chartered Corporation - Private
Founded
(D/M/Y): / /1993
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of
Employees: 12
Website: www.lagoonseafood.com
Maj.
Shareholder: Mr. Said Cheaib
Rating Opinion: up
to $10,000
Business Activity: The Company imports and distributes
fresh and frozen seafood products.
NOTE TO CLIENT
Please note that the
Subject is located at 9090 CHARLES DE LA TOUR, not 9000 CHARLES DE LA TOUR in
Montreal.
Person Contacted:
Mr. Sami Fakhouri, Manager. He verified
and updated the information presented to him.
Rating: Credit can be reasonably accepted up to
$10,000.
Amount
Requested: 350,000
The amounts requested
and advised are expressed in: EUR
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 31/05/1993
State/Province of
Incorporation: QC
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company
provincially chartered in Quebec under the following registration.
Legal Name: LAGOON
SEAFOOD PRODUCTS INC.
File Number: 1140361339
Filing Date: 05/31/1993
Last Annual Report: 12/13/2006
Status: Active
Managers/Key
Personnel
Mr. Said Cheaib President
Mr. Sami
Fakhouri Manager
OWNERS
Mr. Said Cheaib % Majority
AFFILIATED ENTITIES
The Company has no
affiliates or subsidiaries.
BANKS
TD CANADA TRUST
999 De Maisonneuve
MONTREAL PQ H2A 3L4
Telephone: 514
289-1424
Facsimile: 514
289-0422
Account Number:
Account Manager:
A fax was sent to
the Company to obtain signed authorization for credit information.
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
------------------------------------------------------------------------------
VW CR: 514-332-4333 DLA-2007/01/31 694, Net 30 Days #
*Mar May/2006 0
16,653 9,020 9,020
0 0 0
GENERAL MOTORS CORP: DLA-2007/02/26 1,292, Net 30 Days #
*Mar Oct/2005 0
31,307 7,938 7,938
0 0 0
------- ------- ------- ------- -------
-------
P.I. =
0 90 Days 47,960
16,958 16,958 0
0 0
Reported ------- ------- ------- ------- -------
-------
Whlsl-Ind Mach Sppls:
*Sep 0
439 439 439
0 0 0
-------
------- ------- ------- ------- -------
P.I. =
0 Total 48,399
17,397 17,397 0
0 0
Reported -------
------- ------- ------- ------- -------
PAYMENT TRENDS
------------------------------------------------------------------------------
Payment C.I. Number of Total
Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd 3rd
------------------------------------------------------------------------------
1 Qtr/2007
0 14 2
16,958 16,958 0 0 0
4 Qtr/2006
0 14 2
23,830 23,830 0 0 0
3 Qtr/2006
0 14 3
28,366 28,366 0 0 0
2 Qtr/2006
0 16 1
18,145 18,145 0 0 0
1 Qtr/2006
0 16 1
22,681 22,681 0 0 0
4 Qtr/2005
0 16 1 249 249 0 0 0
3 Qtr/2005
0 16 1 173 173 0 0 0
2 Qtr/2005
0 16 1
19,501 19,501 0 0 0
1 Qtr/2005
0 16 2
23,001 23,001 0 0 0
FINANCIAL INFORMATION
Mr. Fakhouri
declined to provide any financial statement information for this report, citing
company policy.
An outside source reported
net sales to be in the US$ 2.5 Million range, however this could not be
confirmed with management.
HISTORY
The Company was
founded in 1993 by Mr. Said Cheaib.
CURRENT OPERATIONS
NAICS Code: 42246
Fish and Seafood Wholesalers
SIC Code: 5146
Number of
Employees: 12
Business Activity:
The Company imports
and distributes fresh and frozen seafood products.
The heading address
is the sole location for the Subject.
The facility consists of office and warehouse space.
PUBLIC RECORD
A search of public
revealed no derogatory information, bankruptcy petitions or Uniform Commercial
Codes.
GENERAL COMMENTS
The Subject founded
in Quebec in 1993, is engaged as a seafood importer and distributor. The payment record is limited, however,
generally satisfactory and 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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)