MIRA
INFORM REPORT
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Report Date : |
31-07-2007 |
IDENTIFICATION DETAILS
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Name : |
STEEL CANADA LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
24.09.1982 |
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Legal Form : |
Provincially Chartered Corporation - Private |
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Line of Business : |
The Subject is a manufacturer of steel and steel 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 : |
Exist |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: STEEL CANADA LIMITED
Address:
City:
State/Province:
Zip Code:
Country:
Telephone: 905 890-0209
Facsimile: 905 890-5391
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
Legal Form: Provincially Chartered Corporation - Private
Website: www.steelcanada.com
Business Activity: The subject is a manufacturer of steel, and steel products.
NOTE TO CLIENT
PERSON CONTACTED
Ms. Dawn (declined to release last name)
Administrative Assistant
PLEASE NOTE
The legal name of the company is not Steel Canada Ltd. the legal name is Steel Canada Limited. for which a report follows.
Ms. Dawn the administrative assistant confirmed the address and contact information, as well as the officer names. She requested that all other inquires be sent in writing to Mr. Dias the Vice President. Management was sent a written request for general information via facsimile. Unfortunately, we did not receive a response to our
inquiries and thus, cannot substantiate general information contained in this report. If however, Management responds to our inquiries at a later time, this report will be appropriately amended.
LEGAL
Legal Form: Provincially Chartered Corporation – Private
Since (D/M/Y): 24/09/1982
Status: ACTIVE
Previous Legal Form:
Company is NOT required to publish an annual financial report.
Legal Name STEEL CANADA LIMITED
Corporation Number 000518347
Date of Incorporation 09/24/1982
Status ACTIVE
Jurisdiction
Managers/Key
Personnel
Mr. Feroz Ali Jasseni President
Mr. Santana Dias Vice President
AFFILIATED ENTITIES
As far as can be determined there are no affiliated companies.
The companies listed below are Subsidiaries of the Subject.
PIONEER STEEL LIMITED
CROWN FREIGHT FORWARDERS LIMITED
BANKS
HSBC BANK
Telephone: 905 568-3666
Facsimile: 905 568-5301
Account Number:
Account Manager:
The following information was provided by an outside source. The subject has been a customer of this bank for more than 3 years. The average balance is in the high 6 figures. There has been no returned checks in the past 3 months. The Subject currently has no line of credit and no loans. Management has not confirmed this.
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
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Transportation Serv:
*Jul 0 95 95
95 0 0
0
Whlsl Ferrs Nonferrs:
*Jul 0 76,003 76,003
42,103 28,302 5,598
0
Mfr-Primary Metal:
*Jul 0 49,651 49,651
26,020 23,631 0
0
CITI COMMERCE SOLUTI: 800-233-8619 DLA-2007/06/08 Merged accts #
*Jul Mar/1996
9,000 3,934 999
999 0 0
0
Arrg Transp of Freig: Within Terms
*Jun 0 170K 44,058
15,338 24,277 4,443
0
Mfr-Wood Products:
*May 0 19,170 3,821
2,468 1,353 0
0
------- -------
------- ------- ------- -------
P.I. =
19 90 Days 318K
174K 87,023 77,563
10,041 0
Reported ------- ------- ------- ------- -------
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SHELL
*Apr 0 1,359 1,359
1,359 0 0
0
HONDA CAN FIN 11: 450-641-9062 DLA-2006/09/06 421, Net 30
Days #
*Mar Jun/2003 0 21,889 8,429
8,429 0 0
0
Services-Repair:
*Jul 0 264 264
0 0 0
264
Transportation Serv: Refuse Infor #
Jun 0 0 0
0 0 0
0
MEDITERRANIEAN SHIPP: 416-231-6434 DLA-2006/02/01 Terms N25 Da,
Pays 30/45 d
Jun Jun/2001
50,000 748 748
0 0 0
748
2006/06/20, TERMS: NET 21 DAYS. PAY
HABITS: BETWEEN 30 TO 35 DAYS. PAST
DUE AMOUNT IS ON DISPUTED
ITEMS.
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------- ------- ------- -------
P.I. =
20 Total 343K
185K 96,811 77,563
10,041 1,012
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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2 Qtr/2007
20 14 6
125,902 61,929 53,932
10,041 0
1 Qtr/2007
28 34 3
57,273 22,585 28,938
5,750 0
4 Qtr/2006
21 21
4 56,014 27,722
26,152 2,140 0
3 Qtr/2006
30 27 5
61,536 24,868 26,436
9,968 264
2 Qtr/2006
56 31 7
13,255 11,446 0
0 1,809
1 Qtr/2006
30 20 6
81,485 39,045 22,920
18,459 1,061
4 Qtr/2005
36 15 7
146,937 52,447 43,999
50,475 16
3 Qtr/2005
24 18 7
248,028 124,095 79,968
43,965 0
2 Qtr/2005
2 20 6
39,858 38,058 1,800
0 0
FINANCIAL INFORMATION
Management was sent a request for financial information currently we have not received a response, however outside sources consulted report annual sales figure for 2006 CAD$50 million.
CURRENT OPERATIONS
NAICS Code: 4219 Miscellaneous Durable Goods Wholesalers
Number of Employees: 40
Business Activity:
The subject is a manufacturer of steel, and steel products.
Some of the products offered are; hot and cold rolled sheets and coils, galvanized coils, pre-painted sheets, and coils.
The above address is the headquarters location, it is unknown if there are any branch locations.
PUBLIC RECORD
Statement of Claim:
Defendant STEEL CANADA LIMITED Date Dec 28, 2006
Plaintiff
Amount 50,000 Location Toronto-Scarborough
Reason Employment File # SU324938-0
A search of the 9
jurisdictional bankruptcy courts of
GENERAL COMMENTS
Steel Canada Limited is a well established company engaged as a manufacturer of steel. The payment record is satisfactory, there is one legal action filed against the company, no further information is available. No other derogatory information has been reported or noted. No bankruptcies have been filed by the company.
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%)