MIRA
INFORM REPORT
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Report Date : |
01.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SPECTRUM GRANITES |
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Registered Office : |
41 Courtland Ave
# 7, Concord, ON, L4K 3T3 |
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Country : |
Canada |
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Date of Incorporation : |
2004 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged as a importer of granite and tile slabs. |
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. |
Small |
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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name: SPECTRUM GRANITES
Trade Name:
Address: 41 COURTLAND
AVE # 7
City: CONCORD
State/Province: ON
Zip Code: L4K 3T3
Country: CANADA
Telephone: 905 532-0239
Facsimile: 905 532-0240
URL No
website
Legal Form: Sole
Proprietorship
Founded (D/M/Y): 2004
Sales / Revenue: -
Net Income:
Total Equity:
Number of
Employees: 2
Shareholder:
Business Activity: The Subject is engaged as
a importer of granite and tile slabs.
NOTE TO CLIENT
PERSON CONTACTED:
Mr. Wasif Iqbal, Office Manager
Mr. Iqbal
confirmed the information in this report.
LEGAL
Legal Form: Sole
Proprietorship
The company is NOT
required to publish an annual financial report.
NAME: SPECTRUM GRANITES
YEAR STARTED: 2004
TYPE: Sole proprietorship
MANAGERS / KEY PERSONNEL
Mr. Razali
Mewawala Owner
AFFILIATED COMPANIES
There are no
affiliates or subsidiaries.
BANKS
Habib Canadian
Bank
Address: 918 Dundas
Street East
City: Mississauga
State/Province: ON
Country: CANADA
Telephone: 905 276-5300
Facsimile: 905 276-5400
We have sent a
written request to management for signed authorization as of this writing no
reponse has been received.
FINANCIAL INFORMATION
Mr. Iqbal was not
authorized to release financial information and outside sources consulted could
provide no insight into the financial condition of the Subject. We have sent a
written request to Mr. Mewawala requesting financial statements as of this
writing no response has been
received.
CURRENT OPERATIONS
SIC Code: 1743
NAICS Code: 23543
Tile, Marble,
Terrazzo and Mosaic Contractors
Number of Employees: 2
Business Activity:
The Subject is
engaged as a importer of granite and tile slabs.
The above address
is the sole location for the Subject.
PUBLIC RECORD
A Nationwide of search of public revealed no, tax liens or legal actions filed against the Firm. A search of the 9 jurisdictional bankruptcy courts of Canada report no bankruptcy filings by the Subject.
COMMENTS
Spectrum Granites is a new company started in 2004. The Subject is engaged as a
importer and distributor of granite
and tile slabs. No payment record could be obtained,
no derogatory information has been reported or
noted. A search of the 9 jurisdictional bankruptcy courts of Canada report no bankruptcy filings by the
Subject.
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%)