MIRA
INFORM REPORT
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Report Date : |
04.07.2007 |
IDENTIFICATION DETAILS
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Name : |
RELIANCE FOODS INTERNATIONAL INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
23.06.1998 |
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Com. Reg. No.: |
3505995 |
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Legal Form : |
Federally Chartered Corporation – Private |
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Line of Business : |
The subject is an importer, exporter and wholesaler of frozen fruits
and vegetables. |
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 : |
Regular |
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Litigation : |
Clear |
IDENTIFICATION
& EXECUTIVE SUMMARY
Company Name : RELIANCE FOODS INTERNATIONAL INC.
Address :
City : ILE PERROT
State/Province :
Zip Code : J7V 4X4
Country :
Telephone : 514-425-1880
Facsimile : 450-425-1889
Legal Form : Federally Chartered Corp. - Private
Website : N/A
Maj. Shareholder : GESTION MARCAPSAR INC.
Business Activity:
The Company is an importer,
exporter and wholesaler of frozen fruits
and vegetables.
NOTE
TO CLIENT
Person Attempted
Contact: Mr. Ronald Vidal,
Controller. Several
attempts were made to
reach Mr. Vidal, however, we could not reach him
or any other officers at
the time of this report. A fax was sent
to
Mr. Vidal to verify
information for this report.
An exact employment figure
could not be learned, however, an outside
source stated that the
Company had between 11 and 50 employees.
No information in this
report could be confirmed by management.
LEGAL
Legal Form : Federally Chartered
Corp. - Private
Since (D/M/Y) : 23/06/1998
State/Province of Incorporation :
Status : ACTIVE
Previous Legal Form : Company is NOT
required to publish an annual financial report.
The Company federally chartered
in
registration.
Corporation # 3505995
BN # 893522821RC0001
Corporation Name(s) : RELIANCE FOODS
INTERNATIONAL INC.
Registered Office Address : [Latest address on file]
Street :
City :
ILE PERROT
Province :
Postal Code :
J7V4X4
Country :
Reg. Off. Eff :
2005/06/02
Status : Active
Incorporation Date : 1998/06/23
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The Company provincially
qualified in
registration.
Incorporation Number : 1147943493
Legal Name : RELIANCE FOODS
INTERNATIONAL INC.
Incorporation Date : 6/23/1998
Last Annual Report : 2/8/2007
Location :
Address :
549,
L'ILE PERROT (
Managers/Key
Personnel
Mr. Marc Legault President
Mr. Ronald Vidal Controller
OWNERS
GESTION MARCAPSAR INC. %
Majority
GESTION DANGELCO INC.
Minority
The Company has no known
subsidiaries or affiliates.
BANKS
Bank of
93, RUE SAINTE-ANNE
Telephone : (514) 457-7195
Facsimile : (514) 877-2505
This bank only provides credit
information to other
Banks.
PAYMENT
HISTORY
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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
------------------------------------------------------------------------------
Transportation Serv:
*Jun 0 274 274
264 10 0 0
CITI COMMERCE SOLUTI: 800-233-8619 DLA-2007/05/04 153 #
*Jun May/2001 3,500 748 153
153 0 0 0
PRIMUS AUTO FIN SERV: 613-742-2100 DLA-2007/04/19 962 , Net 30 Days #
*May Apr/2005 0 30,421 9,295
9,295 0 0 0
Whlsl-Ind Mach Sppls:
*Apr 0 98 98 0 98 0 0
------- ------- ------- ------- -------
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P.I. = 10
90 Days
31,541 9,820 9,712 108 0 0
Reported
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Trucking:
*Nov 0 667 667 667 0 0 0
Trucking (APTA):
*Oct 0 12,005 12,005
6,447 5,558 0 0
Transportation Serv:
*Jul 0 8,036 8,036 0
8,036 0 0
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P.I. = 22
Total
52,249 30,528 16,826
13,702 0 0
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 10 20 4 9,820 9,712
108 0 0
1 Qtr/2007 33 25 3 11,670 11,221
449 0 0
4 Qtr/2006 15 13 6 27,249 21,476
5,773 0 0
3 Qtr/2006 29 24 5 25,112 16,830
8,282 0 0
2 Qtr/2006 31 17 4 73,557 23,156
50,401 0 0
1 Qtr/2006 0 14 3 23,338
23,338 0 0
0
4 Qtr/2005 0 20 3 24,794 24,794 0 0
0
3 Qtr/2005 19 9 5 46,070 35,305
10,765 0 0
2 Qtr/2005 9 12 4 33,584 32,443
1,141 0 0
FINANCIAL
INFORMATION
Due to our inability to reach an
officer for the Company, we could not
obtain financial statement information
at this time. If we receive a
response to our fax request, we
will amend the report accordingly.
An outside source reported net
sales to be in excess of US$10 Million,
however, this could not be
confirmed by management.
CURRENT
OPERATIONS
NAICS Code :
42248 Fresh Fruit and
Vegetable Wholesalers
SIC Code :
5148
Business Activity:
The Company is an importer,
exporter and wholesaler of frozen fruits
and vegetables.
The Subject deals in a variety of
produce including:
Fruits: wild blueberries, strawberries, raspberries,
cherries, cranberries,
Blackberries, rhubarb, apriCo.
Peaches, mango, papaya.
Vegetables: broccoli, carrots
(baby and other), peas, corn, green and yellow
Beans, cauliflower, red and green
peppers.
The Company imports and exports
with the
The heading address is believed
to be the sole location for the Subject.
PUBLIC
RECORD
A search of public revealed no
derogatory information, bankruptcy
petitions or Uniform Commercial
Codes.
GENERAL
COMMENTS
The Subject, founded in 1996 in
The payment record is generally
satisfactory and the operating history is clear.
No derogatory information or
bankruptcy petitions were reported or noted.
The
Company is responsible for normal
business transactions.
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%)