MIRA
INFORM REPORT
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Report Date : |
21.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
TUCOM INC. |
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Registered Office : |
9200 Viau, Montreal, Quebec, H1r 2v8 |
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Country : |
Canada |
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Date of Incorporation : |
1999 |
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Legal Form : |
Provincially Chartered Corporation - Private |
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Line of Business : |
Importer, packer, and distributor of olive oils, basalmic vinegars,
and edible oils. |
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 : |
Usually correct |
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Litigation : |
Clear |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name : TUCOM INC.
Address :
9200 VIAU
City :
MONTREAL
State/Province :
QUEBEC
Zip Code :
H1R 2V8
Country :
CANADA
Telephone :
514-788-7373
Facsimile :
514-789-6615
Founded (D/M/Y) : / /1999
As of :
--
Sales / Revenue : --
Net Income : --
Total Equity : --
Number of Employees : 11
Legal Form :
Provincially Chartered Corporation - Private
Website :
N/A
Maj. Shareholder : Mr.
Sami Mokni
Rating Opinion : up
to $50,000
Business Activity : The
Company is an importer, packer, and distributor of olive oils, basalmic
vinegars,
and edible oils.
NOTE TO CLIENT
NOTE::LEGAL NAME: TUCOM INC.
ORDERED NAME: ALIMENTS IMPERIAL FOODS
PLEASE NOTE THAT MR. MOKNI STATED HE HAS SIGNED PAPERWORK TO CHANGE THE
NAME OF THE COMPANY FROM TUCOM INC. TO ALIMENTS IMPERIAL FOODS TUCOM INC.,
HOWEVER, AT THIS TIME, THE QUEBEC REGISTRATION STILL LISTS THE SUBJECT'S LEGAL
NAME AS TUCOM INC.
Please also note that the ordered address, 8800 RUE SAINT JACQUES, in
MIRABEL, not MONTREAL, QUEBEC, is the location of the Subject's packing
plant. The heading address is the
company's headquarters.
Person Contacted: Mr. Sami
Mokni, President and Co-Owner. He
verified and updated the information presented to him.
Rating: Credit can be reasonably accepted up to $50,000.
Amount Requested:
150,000
The amounts requested and advised are expressed in: EUR
LEGAL
Legal Form :
Provincially Chartered Corporation – Private
Since (D/M/Y) :
20/09/1999
State/Province of Incorporation :
QC
Status :
ACTIVE
Previous Legal Form :
Company is NOT required to publish an annual financial report.
The Company provincially chartered in Quebec under the following
registration.
Incorporation Number: 1148831226
Legal Name: TUCOM INC.*
Incorporation Date: 9/20/1999
Last Annual Report: 12/7/2005
Location: Quebec
Address: 8800, RUE ST-JACQUES
MIRABEL (QUEBEC)
J7N 2B5
*The Company has signed paperwork to change the name to ALIMENTS
IMPERIAL FOODS TUCOM INC., however, the Quebec Registry has yet to recognize
this name change.
Managers/Key Personnel
Mr. Sami Mokni
President
Mr. Amel Mokni
Vice President
OWNERS
Mr. Sami Mokni % Majority
Mr. Amel Mokni Shareholder
The Company has no subsidiaries or affiliates.
BANKS
Royal Bank of Canada
5100 RUE SHERBROOKE EST-RC 10
MONTREAL PQ H1V 3R9
Telephone: (514) 257-3002
Facsimile: (514) 874-8740
Account Number:
Account Manager:
This bank only provides credit information to other banks.
PAYMENT HISTORY
------------------------------------------------------------------------------
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
------------------------------------------------------------------------------
PRIMUS AUTO FIN SERV: 613-742-2100 DLA-2007/02/25 784, Net 30
Days #
*Mar Nov/2004 0
33,062 13,776 13,776
0 0 0
VW CR: 514-332-4333 DLA-2007/02/07 876, Net 30 Days #
*Mar Dec/2005 0
42,054 28,912 28,912
0 0 0
CITI COMMERCE SOLUTI: 800-233-8619 DLA-2007/02/13 159 #
*Mar Dec/2002 1,500
775 159 159
0 0 0
-------
------- ------- ------- ------- -------
P.I. =
0 90 Days 75,891
42,847 42,847 0
0 0
Reported ------- ------- ------- ------- -------
-------
Transportation Serv:
*Dec 0
104 104 104
0 0 0
------- ------- ------- ------- ------- -------
P.I. =
0 Total 75,995
42,951 42,951 0
0 0
Reported ------- ------- ------- ------- -------
-------
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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4 Qtr/2006
0 14 4
49,419 49,419 0 0 0
3 Qtr/2006
0 14 3
51,391 51,391 0 0 0
2 Qtr/2006
4 14 4
57,909 57,858 51 0 0
1 Qtr/2006
0 22 3
62,218 62,218 0 0 0
4 Qtr/2005
22 26 3
26,528 26,155 373 0 0
3 Qtr/2005
21 20 3
27,737 27,354 383 0 0
2 Qtr/2005
0 16 3
32,711 32,311 400 0 0
1 Qtr/2005
0 16 2
32,105 31,352 753 0 0
4 Qtr/2004
0 16 1 390 390 0 0 0
FINANCIAL INFORMATION
Mr. Mokni declined to provide financial statement information over the
phone, however, he did say net sales were in excess of CAD 5 Million for
2006. He accepted a fax request to
provide additional financial information.
If we receive a response, we will amend the report accordingly.
CURRENT OPERATIONS
NAICS Code: 422 Wholesale Trade, Nondurable Goods
Number of Employees:
11
Business Activity:
The Company is an importer, packer, and distributor of olive oils, basalmic
vinegars, and edible oils.
The Subject imports from Argentina, Tunisia, Spain, Turkey, and Italy
and exports to the United States.
The heading address is the headquarters for the Subject. The facility consists of leased office and
warehouse space.
The Company has an additional packing plant facility located in Mirabel,
Quebec.
PUBLIC RECORD
A search of public revealed no derogatory information, bankruptcy
petitions or Uniform Commercial Codes.
GENERAL COMMENTS
The Subject, founded in Quebec in 1999, is engaged as an importer and
wholesaler of oils and vinegars. The
payment record was 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%)