MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NI-MET METALS & MINERALS INC. |
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Registered Office : |
33 City Center Drive, Suite 640,Mississauga, ON L5B 2N5 |
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Country : |
Canada |
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Date of Incorporation : |
20.02.2003 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Iron and Steel
Scrap |
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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Maximum Credit Limit : |
USD 2,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
2,000,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
100 USD = 99.97 CAD Satisfying |
IDENTIFICATION
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Company Name: |
Ni-Met Metals & Minerals Inc. |
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Address: |
33 City Center
Drive, Suite 640, Mississauga,
ON L5B 2N5, Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (905) 366-3687 + 1 (905) 366-3688 ON-0001563138 Ontario Anil Shah, President |
Date founded: |
Feb 20, 2003
Corporation for Profit N.A. 20 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Wholesales iron and steel scrap |
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BANKS
Business Development Bank
BUSINESS
Operations & Business:
Ni-Met Metals & Minerals Inc. is a private company located in
Ontario, Canada. Ni-Met Metals & Minerals Inc.’s line of business is
wholesaler of iron and steel scrap.
Industry Overview:
The manufacture of machinery in the US involves about 30,000 companies
with combined annual revenue of $300 billion. Large companies include
Caterpillar and Deere, and divisions of GE and other large corporations. The
industry is highly fragmented because most companies specialize in producing a
particular type of machinery. Most companies have annual sales between $10 and
$500 million and operate in a relatively small field, but may produce dozens of
variations and models of the same basic product.
Demand for machinery depends strongly on the health of the US economy
and various subsectors such as the construction industry. The profitability of
individual companies is tied to engineering expertise and efficient production
operations. Small companies can compete effectively if they produce machinery
with unique characteristics. The industry is capital-intensive and fairly
automated: average annual revenue per worker is about $225,000.
The major subsections of the industry are farm and construction machinery,
manufacturing machinery, metalworking machinery, commercial machinery, and
general machinery such as engines and pumps. While some products, such as
tractors or heaters, are finished products, others, like motors, are components
used in further production, and some, like textile looms, are custom-designed
for a particular manufacturing process.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
directors of the company are:
Anil
Shah, President.
Girish Kekre, Director.
They
are also two of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Ni-Met Metals & Minerals Inc. does not publish any financial statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
122,000,000 |
LEGALS
0 Suits
0 Judgements
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 PPSA Filing in 2007 &
2005 by Daimler Chrysler Financial Services securing Book Debts. Amount: NA
1 PPSA Filing in 2007 by Business
Development Bank securing Book Debts. Amount: NA
1 PPSA Filing in 2006 by
CBSC Capital securing Equipment.
Amount: NA
All previous PPSA Filings
have been cleared
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
Payments are made on a
regular basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a small company
working worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
See above Regular |
ADVISED
CREDIT
2,000,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
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%)