MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
FOREST FIBERS INC. |
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Registered Office : |
5000
Armand-Frappier, |
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Country : |
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Date of Incorporation : |
2001 |
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Legal Form : |
Provincially
Chartered Corporation - Private |
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Line of Business : |
Wholesaler and
exporter of bulk recycled waste paper. |
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 : |
Exists |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: FOREST
FIBERS INC.
Address: 5000
ARMAND-FRAPPIER
City:
State/Province:
Zip Code: J3Z
1G5
Country:
Telephone: 450-466-6688
Facsimile: 450-466-8870
Founded
(D/M/Y): / /2001
In KCAD As of:
31/05/2007
Sales /
Revenue: 46,000
Net Income:
Total Equity:
Number of Employees:
25
Legal Form: Provincially
Chartered Corporation - Private
Website: www.forestfibersinc.com
Business Activity: The Company is a wholesaler and
exporter of bulk recycled waste paper.
NOTE TO CLIENT
NOTE::LEGAL
NAME: FOREST FIBERS INC.
ORDERED NAME: FOREST
FIBERS INC
Person
Contacted: Mr. Pierre Simard,
Controller. He verified and updated the
information presented to him.
LEGAL
Legal Form: Provincially
Chartered Corporation – Private
Since (D/M/Y): 28/08/2001
State/Province of
Incorporation: QC
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Company is
provincially chartered in
Incorporation
Number: 1160304631
Legal Name: LES
FIBRES FORESTIERES INC. (French Version)
Incorporation Date:
8/28/2001
Last Annual Report: 3/16/2006
Location:
Address: 5000, ARMAND-FRAPPIER
ST-HUBERT (
Managers/Key
Personnel
Mr. Dominic
Colubriale President
Mr. Pierre
Simard Controller
Parent Companies
Parent Company: THE D.A.C. FAMILY TRUST
7555, RUE
LUGANO
The Company has no
affiliates or subsidiaries.
BANKS
HSBC Bank
Telephone: 780
423-3563
Facsimile:
Account Number:
Account Manager:
Bank policy
prohibits credit references.
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
------------------------------------------------------------------------------
Trucking:
*Sep 0 3,256 3,256
1,600 1,200 456
0
Retail-Establishment:
*Sep 0 3,000 1,874
1,208 666 0
0
Transportation Serv:
*Jul 0 1,821 1,821
1,522 299 0
0
------- -------
------- ------- ------- -------
P.I. =
15 90 Days 8,077
6,951 4,330 2,165
456 0
Reported ------- ------- ------- ------- -------
-------
Mfr-Logging Camp& Log:
*Aug 0 4,083 344
344 0 0
0
------- -------
------- ------- ------- -------
P.I. =
14 Total 12,160
7,295 4,674 2,165
456 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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2 Qtr/2007
13 28 3
6,657 5,321 299
858 179
1 Qtr/2007
5 28 2
8,826 7,909 588
329 0
4 Qtr/2006
1 32 3
21,505 20,916 299
290 0
3 Qtr/2006
11 34 4
33,628 22,794 10,173
661 0
2 Qtr/2006
13 27 7
11,099 6,627 4,472
0 0
1 Qtr/2006
41 47 4
4,219 2,106 572
0 1,541
4 Qtr/2005
39 31 6
11,884 4,756 3,387
865 2,876
3 Qtr/2005
23 28 5
14,743 6,910 6,576
381 876
2 Qtr/2005
19 35 3
1,739 1,092 302
345 0
FINANCIAL INFORMATION
FINANCIAL FIGURES
Year-End
(D/M/Y): 31/05/2007 31/05/2006 31/05/2006
Consolidated Consolidated
Sales /
Revenues 46,000 39,600 -
Mr. Simard declined
to provide financial statement information to a fax request. If we receive a response, we will amend the
report accordingly.
He did state net
sales for May 31, 2007 were approximately CAD 46 Million (2007 financial
figures are still being completed) and 2006 sales of CAD 39.6 Million.
CURRENT OPERATIONS
NAICS Code: 42213
Industrial and Personal Service Paper Wholesalers
SIC Code: 5113
Number of
Employees: 25
Business Activity:
The Company is a
wholesaler and exporter of bulk recycled waste paper.
The Subject exports to
Products include a
variety of papers, foil laminated, poly board, and all specialty grades.
The heading address
is the headquarters for the Subject. The
facility consists of leased office and warehouse space.
The Company has a
branch office located in
PUBLIC RECORD
A search of public
revealed the following actions against the Company and no bankruptcy petitions.
We could not determine the status of the actions at this time.
Writ of Summons:
Defendant FIBRES FORESTIERES INC Date Aug 23, 2006
Plaintiff
Amount 25,541 Location
Reason Goods Sold & Delivered File # 010408069
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Writ of Summons:
Defendant FIBRES FORESTIERES INC Date Mar 01, 2006
Plaintiff
Amount 6,058 Location
Reason Goods Sold & Delivered File # 120286060
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Writ of Summons:
Defendant TRANSPORT FIBRES FORESTIERES INC Date
Nov 22, 2004
Plaintiff GROUPAMA TRANSPORT
Amount 141,112 Location
Reason Goods Sold & Delivered File # 005190046
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Writ of Summons:
Defendant TRANSPORT FIBRES FORESTIERES INC Date
Nov 22, 2004
Plaintiff GROUPAMA TRANSPORT
Amount 138,646 Location
Reason Goods Sold & Delivered File # 024338058
GENERAL COMMENTS
The Subject, founded
in 2001 in
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. |
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%)