MIRA
INFORM REPORT
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Report Date : |
18.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
RED KNIGHT
SPORTSWEAR LTD. |
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Registered Office : |
585 Middlefield
Ave., Scarborough, Ontario, M1V 4Y5 |
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Country : |
Canada |
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Date of Incorporation : |
30/03/1999 |
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Legal Form : |
Provincially
Chartered Corporation – Private |
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Line of Business : |
Importer,
manufacturer and wholesaler of sportswear apparel. |
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: RED
KNIGHT SPORTSWEAR LTD.
Address: 585
MIDDLEFIELD AVE.
City: SCARBOROUGH
State/Province: ONTARIO
Zip Code: M1V
4Y5
Country: CANADA
Telephone: 416-332-1994
Facsimile: N/A
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
1
Legal Form: Provincially
Chartered Corporation - Private
Website: No
website.
Business Activity: Importer, manufacturer and wholesaler
of sportswear apparel.
NOTE TO CLIENT
NOTE: The provided
address, LAWRENEEE AVENUE, EAST SCARBOROUGH, ONTARIO, is not a prior address of
the Subject nor a branch office.
Management stated that they are not familiar with this address. The
headquarters are at the heading address.
Mr. Abid Saleem, President, provided the following information contained
in this report.
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 30/03/1999
State/Province of
Incorporation: ON
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company is
registered in Ontario:
RED KNIGHT
SPORTSWEAR LTD.
File Number: 001347959
Filed: 3/30/1999
Status: Active
Managers/Key
Personnel
Mr. Abid Saleem President
AFFILIATED ENTITIES
Management reports
no affiliates or subsidiaries.
BANKS
Royal Bank of Canada
ON
Telephone:
416-289-3195
Facsimile:
Account Number:
Account Manager:
Requires a signed
authorization which could not be obtained.
PAYMENT HISTORY
The firm does not
appear to be a seeker of local trade credit as a significant payment record
could not be developed.
FINANCIAL INFORMATION
Management declined
to provide any financial information and outside sources could not provide any
insight into the financial status of the Subject.
CURRENT OPERATIONS
NAICS Code: 4481
Clothing Stores
Number of
Employees: 1
Business Activity:
Importer,
manufacturer and wholesaler of sportswear apparel. The headquarters and sole
location are at the above-noted address. Management reports no branch locations
or divisions.
Management reports
that manufacturing is outsourced to factories overseas.
TRADE REFERENCES
DICKY'S
TEL:817-336-7201
OPENED: 4/19/2005
LIMIT: 10,000 CAD
HIGH CREDIT: 15,000
CAD
TERMS: NET 30
LAST SALE: 4/12/07
OUTSTANDING: 8,000
CAD
RATING: VERY GOOD
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CANADIAN ACTIVEWEAR
TEL: 416-289-6042
OPENED: 2001
LIMIT: 10,000 CAD
HIGH CREDIT: 5,000
CAD
TERMS: NET 30
LAST SALE: 4/13/07
RATING: GOOD
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SUPER KNITTING INC.
TEL: 416-321-0355
FAX: 416-321-3994
NOTE: A written
request has been faxed to the above vendor. An update will be provided
accordingly.
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
An established Company,
the Subject is engaged as an importer, manufacturer and wholesaler of
sportswear apparel. No payment records were found and a search of public
records and bankruptcy courts revealed no derogatory information or record of
the Company filing a bankruptcy petition.
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%)