MIRA
INFORM REPORT
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Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
M.B. PRODUCT
RESEARCH DISTRIBUTING INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1975 |
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Legal Form : |
Provincially
Chartered Corporation - Private |
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Line of Business : |
Importer and
exporter of fresh and frozen fish and seafood. |
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 : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: M.B.
PRODUCT RESEARCH DISTRIBUTING INC.
Trade Name(s): Ocean
Harvest Fisheries
Inter-Canada Fisheries
Address:
UNIT 12
City:
State/Province:
Zip Code: L4K
3Z7
Country:
Telephone: 905-660-1421
Facsimile: 905-660-0705
Founded
(D/M/Y): / /1975
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
22
Legal Form: Provincially
Chartered Corporation - Private
Website: N/A
Maj.
Shareholder: Mr. Marc Benhaim
Opinion: up
to $50,000
Business Activity: The Company is a importer and exporter
of fresh and frozen fish and seafood.
NOTE TO CLIENT
NOTE: The provided
name: INTER CANADA FISHERIES, is a d/b/a for M.B. PRODUCT RESEARCH DISTRIBUTING
INC., the Subject of this report.
Mr. Mark Benhaim,
President, provided the following information contained in this report.
Amount Requested: 150,000
The amounts
requested and advised are expressed in:
EUR
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 18/10/1985
State/Province of
Incorporation: ON
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company
provincially chartered in
M.B. PRODUCT
RESEARCH DISTRIBUTING INC.
Corporate Number:
000640761
Date of Inc./Amalg.:
1985-10-18
Status: ACTIVE
Establishment Type:
ONTARIO BUSINESS CORP.
Share: SHARE
Jurisdiction:
Managers/Key
Personnel
Mr. Mark
Benhaim President
Ms. Jodie
Fernandez Vice
President
OWNERS
Mr. Marc
Benhaim
% Majority
AFFILIATED ENTITIES
Management reports
no affiliates or subsidiaries.
BANKS
The Bank of
Telephone:
905-850-6403
Facsimile: 905-850-6445
Account Number:
308820235911
Account Manager:
The above bank is
believed to be the Subject's primary bank. A fax has been sent to Management
for confirmed bank details. We currently await a response.
PAYMENT HISTORY
The firm does not appear
to be a seeker of local trade credit as a significant payment record could not
be developed
FINANCIAL INFORMATION
Per Management's
request, a written fax as been sent to the Subject for financial information.
We currently await a response. Please note that an outside source reports a
sales range between CAD12 and 14 million.
CURRENT OPERATIONS
NAICS Code: 42246
Fish and Seafood Wholesalers
SIC Code: 5146
Number of
Employees: 22
Business Activity:
The Company is a
importer and exporter of fresh and frozen fish and seafood.
The Company imports
worldwide, including
The Company also
operates under the names Ocean Harvest Fisheries and Inter-Canada Fisheries.
TRADE REFERENCES
Each Company was
faxed, however, as of this report, we have not received any responses. If we receive fax responses, we will amend
the report accordingly.
True North Salmon
Company
Tel: 506-755-1165
Fax: 506-755-1334
P.E.I. Mussel King
Tel: 902-961-3300
Fax: 902-961-3366
PUBLIC RECORD
A search of public
revealed no derogatory information, Uniform Commercial Codes, or bankruptcy
petitions.
GENERAL COMMENTS
M.B. Product
Research Distributing Inc, provincially chartered in
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%)