MIRA
INFORM REPORT
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Report Date : |
02.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TISSUS DANISH INC. |
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Registered Office : |
4360 Chemin Cote
De Liesse, Bureau 203, |
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Country : |
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Date of Incorporation : |
14/02/2005 |
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Legal Form : |
Provincially
Chartered Corporation – Private |
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Line of Business : |
Importer and buyer
of high-end Danish and other European textiles. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Doubtful |
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Litigation : |
Exist |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: TISSUS
DANISH INC.
Trade Name(s): Danish
Fabrics
Address: 4360
CHEMIN COTE DE LIESSE
BUREAU 203
City:
State/Province:
Zip Code: H4N
2P7
Country:
Telephone: 514-731-2114
Facsimile: 514-731-0226
As of:
Sales / Revenue:
Net Income:
Total Equity:
Legal Form: Provincially
Chartered Corporation - Private
Website: No
Website
Business Activity: The Subject is an importer and buyer of
high-end Danish and other European textiles.
NOTE TO CLIENT
Please note that the
provided address is incorrect. The provided address corresponds to a branch
location for the Company. The heading address is the official location of the
Firm's headquarters. The ordered name corresponds to a trade name for the
Company. The legal name of the Company is TISSUS DANISH INC. for which a report
follows.
Several messages
were left for the President, Mr. Kurram Masud; we were unable to reach a member
of Management who could provide general information regarding the Company.
Thus, general information in this report cannot be substantiated.
Please note that we
did send a written request to Mr. Kurram Masud, President's attention via
facsimile. An update will be provided accordingly should we receive a response
at a later time.
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 14/02/2005
State/Province of Incorporation:
PQ
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Subject is
incorporated in the
Corp #: 1162798236
Legal Name: TISSUS
DANISH INC.
Form Date:
02/14/2005
Status: ACTIVE
Province:
Managers/Key
Personnel
Mr. Kurram
Masud President
Mr. Shazia R.
Sheikh Director
AFFILIATED ENTITIES
As far as could be
determined, there are no known affiliates or subsidiaries.
BANKS
TD Canada Trust
Financial Group
500
Telephone:
514-289-0799
Facsimile:
Account Number:
Account Manager:
We have contacted
the above-mentioned bank which has not responded yet. In the event a response
is received, we will update the information immediately.
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
------------------------------------------------------------------------------
FINANCIAL LINX: 416-753-4000 DLA-2006/05/01 264 #
*Jun Feb/2004 0 Jun/2007 14,940
0 0
0 0 0
Transportation Serv:
*Apr 0 350 350
0 0 0
350
Mfr-Fnshers Textiles:
*Jan 0 18 18
0 0 0
18
------- ------- ------- -------
------- -------
P.I. =
99 Total 15,308
368 0 0
0 368
Reported ------- ------- ------- ------- -------
-------
PAYMENT TRENDS
------------------------------------------------------------------------------
Payment C.I.
Number of Total Current Overdue
Quarters
Index Score Suppliers
Owing $ 1st 2nd
3rd
------------------------------------------------------------------------------
2 Qtr/2007
99 51 2
350 0 0
0 350
1 Qtr/2007
99 52 3
368 0 0
0 368
4 Qtr/2006
99 34 3
368 0 0
0 368
3 Qtr/2006
99 30 2
382 0 0
0 382
2 Qtr/2006
36 29 2
1,040 668 0
0 372
1 Qtr/2006
67 26 1
1,463 0
0 1,453 10
4 Qtr/2005
69 32 3
2,235 0 1,027
10 1,198
3 Qtr/2005
23 24 2
3,185 1,047 2,125
0 13
2 Qtr/2005
20 22 2
5,679 2,273 3,406
0 0
FINANCIAL INFORMATION
The Company was
forwarded a fax requesting financial information. Currently we have not
received a response.
According to an
outside source, the Subject has annual sales in the $2.01 million CAN range.
CURRENT OPERATIONS
NAICS Code: 314
Textile Product Mills
Business Activity:
The Subject is an
importer and buyer of high-end Danish and other European textiles. The heading address is the sole location for
the Company's headquarters.
The Subject has one
branch location:
H4N 3BI
PUBLIC RECORD
The following civil
judgment has been found against the Company:
Writ of Summons:
Defendant DANISH
FABRICS Date
Jun 25, 2003
Plaintiff
Amount 979 Location
Reason Services
Rendered File #
085912031
A search of public
found no instance of the Subject filing for bankruptcy.
GENERAL COMMENTS
The Subject is an
importer and buyer of high-end Danish and other European textiles since 2005.
The Company has a suspect payment record. A search of public records found no
instance of the Subject filing for bankruptcy nor any tax liens. However, there
was one civil judgment found against the Firm. The current status of the civil
judgment could not be determined 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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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%)