MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
VECTIS CORPORATION
LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
03/03/1981 |
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Legal Form : |
Provincially
Chartered Corporation - Private |
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Line of Business : |
Exporter of oil
and gas processing equipment. |
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 : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: VECTIS
CORPORATION LTD.
Address:
City: ST-ALBERTA
State/Province:
Zip Code: TXN
3P9
Country:
Telephone: 780
458-0157
Facsimile: 780
458-0961
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees: 6
Legal Form: Provincially
Chartered Corporation - Private
Website: No
website
Business Activity: The Firm is an exporter of oil and gas
processing equipment.
NOTE TO CLIENT
PERSON
CONTACTED Mr. Graham Dootson- President
Mr. Dootson provided
all the information in this report.
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Please note that
Vectis Technology International corresponds to a division for Vectis
Corporation LTD. for which a report follows.
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The provided address
is incorrect the correct address for the Firm is
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 03/03/1981
State/Province of
Incorporation:
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Firm is
registered in the
Corporate Access
Number: 202579629
Legal Entity
Name: VECTIS CORPORATION LTD.
Legal Entity
Status: Active
Alberta Corporation
Type: Named Alberta Corporation
Registration
Date: 1981/03/03
Registered Office:
Street:
City:
Province:
Postal Code: T8N 3P9
Address:
Street:
City:
Province:
Postal Code: T8N 3P9
Managers/Key
Personnel
Mr. Graham
Dootson President
Mr. Ronald
McMillan Vice President
AFFILIATED ENTITIES
There are no
subsidiaries or affiliates.
Divisions
VECTIS TECHNOLOGY
INTERNATIONAL
BANKS
HSBC Bank
AB
Telephone:
Facsimile:
Account Number:
Account Manager:
Per policy, the above
bank does not provide account information on its customers.
PAYMENT HISTORY
The Company is not a
seeker of local trade credit and as such a significant payment record could not
be developed.
FINANCIAL INFORMATION
Management declined
to provide financial statements however, he did state that the company is
profitable and reported the annual sales for 2006 were around CAD900,000. He
also provided an projected sales figure for 2007 to be CAD1.5 million.
The above figures
are in actual Canadian Dollars.
CURRENT OPERATIONS
NAICS Code: 421
Wholesale Trade, Durable Goods
Number of Employees
: 6
Business Activity:
The Firm is an
exporter of oil and gas processing equipment.
The Subject designs and distributes oil sealed equipment. The Firm
exports to
The above address is
the sole location for the Subject.
TRADE REFERENCES
Management declined
to provide trade references.
PUBLIC RECORD
A search of public
records and bankruptcy courts revealed no Uniform Commercial Codes, tax liens,
legal actions or bankruptcy filings under the Subject's name.
GENERAL COMMENTS
Vectis Corporation
LTD. is a well established company engaged as an exporter of oil and gas
processing equipment. No payment history could be obtained. No derogatory
information has been reported or noted. A search of the 9 jurisdictional
bankruptcy courts of
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. |
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%)