MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CANADIAN STEEL NETWORK
INC. |
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Registered Office : |
6445 Kennedy Road, Mississauga, Ontario L5T 2W4 |
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Country : |
Canada |
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Date of Incorporation : |
09.06.1998 |
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Com. Reg. No.: |
ON-001299432 |
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Legal Form : |
Ontario Corporation - Profit |
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Line of Business : |
Export Steel Worldwide |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
CAD 1,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company
Name
CANADIAN STEEL NETWORK
INC.
Company acronym: --
Contact Information
|
Address |
6445 Kennedy Road Mississauga, Ontario L5T 2W4 Canada |
|
Telephone |
905-670-2900 |
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Fax |
905-670-4341 |
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Website |
www.canadiansteelnetwork.com |
Registration Data
|
Date of Registration |
June 9, 1998 |
|
Registration number |
ON-001299432 |
|
Legal address |
6445 Kennedy Road Mississauga, Ontario L5T 2W4 Canada |
|
Legal Form |
Ontario Corporation - Profit |
Shareholders
with Shares
|
Shareholder Names |
Share% |
|
Family JESSANI |
100 |
Board/Executive
|
Name |
Gulzar JESSANI |
|
Position within the company |
President & CEO |
|
Name |
Amine S. JESSANI |
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Position within the company |
Director |
|
Name |
Amine U. JESSANI |
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Position within the company |
Director |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Export steel worldwide
Staff
|
Number of staff employed |
35 |
Export/Import
(Countries, goods and total values for the period)
|
Imports From |
Far East |
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Exports To |
Pakistan India, Bangladesh, Sri Lanka, Hongkong, Thailand, China, Vietnam,
Egypt, Poland… |
Facilities
|
Rented |
Office |
|
Size |
1,200 sq. feet |
Bankers
|
Bank |
Canadian Imperial Bank CIBC |
Suppliers,
Partners
|
Suppliers |
Not known |
|
Partners |
Not known |
Litigation,
Remarks on Payment
|
Litigation |
None Recorded |
|
Remarks on Payment |
No Complaints |
Financial
Information
|
Source |
Bank |
|
Figures are |
Declared |
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Currency |
CAD |
|
Months |
Sales Figures |
Sales |
|
12 |
31/12/2007 |
39,000,000= |
Reporter Comments
|
Comments |
A Secretary controlled the
present report but deferred any financials. The business is actually slow due to worldwide crisis. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Low Trade Risk and to be fair. According to our credit analysts, during the last 6 months, 92% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 5 days
beyond terms. |
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MAX CREDIT |
CAD 1,000,000= |
|
CREDIT REQUIRED |
MAXIMUM CREDIT |
|
Maximum |
CAD 1,000,000= |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.69 |
|
UK Pound |
1 |
Rs.72.96 |
|
Euro |
1 |
Rs.63.46 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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%)