MIRA
INFORM REPORT
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Report Date : |
11.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
SPECTRUM GRANITES |
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Registered Office : |
41 Courtland Ave
# 7, Concord, ON, L4K 3T3 |
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Country : |
Canada |
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Date of Incorporation : |
2004 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged as a importer of granite and tile slabs. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION & EXECUTIVE
SUMMARY
Company Name: SPECTRUM GRANITES
Trade Name:
Address: 41 COURTLAND
AVE # 7
City: CONCORD
State/Province: ON
Zip Code: L4K 3T3
Country: CANADA
Telephone: 905 532-0239
Facsimile: 905 532-0240
URL No
website
Legal Form: Sole
Proprietorship
Founded (D/M/Y): 2004
Sales / Revenue: 439,000
Net Income:
Total Equity:
Number of
Employees: 2
Shareholder:
Business Activity: The Subject is engaged as
a importer of granite and tile slabs.
NOTE TO CLIENT
Management has provided financial
information and supplier references.
Please see below for details.
PERSON CONTACTED: Mr. Wasif Iqbal, Office
Manager
LEGAL
Legal Form: Sole
Proprietorship
The company is NOT
required to publish an annual financial report.
NAME: SPECTRUM GRANITES
YEAR STARTED: 2004
TYPE: Sole proprietorship
MANAGERS / KEY PERSONNEL
Mr. Razali
Mewawala Owner
AFFILIATED COMPANIES
There are no
affiliates or subsidiaries.
BANKS
Habib Canadian
Bank
Address: 918 Dundas
Street East
City: Mississauga
State/Province: ON
Country: CANADA
Telephone: 905 276-5300
Facsimile: 905 276-5400
We have sent a
written request to management for signed authorization as of this writing no
reponse has been received.
FINANCIAL INFORMATION
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Fiscal Year End : |
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Year-End (D/M/Y) |
31/12/2007 |
31/12/2006 |
31/12/2005 |
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Income Statement |
Projected |
Consolidated |
Consolidated |
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Global Net Sales |
550,000 |
439,000 |
384,000 |
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Gross Profit |
130,000 |
101,000 |
850,000 |
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Operating Income |
50,000 |
43,975 |
33,024 |
FINANCIAL INDICATORS
Mr. Mewawala provided the above finanacial
information.
The figures are in actual CAD.
CURRENT OPERATIONS
SIC Code: 1743
NAICS Code: 23543
Tile, Marble,
Terrazzo and Mosaic Contractors
Number of Employees: 2
Business Activity:
The Subject is
engaged as a importer of granite and tile slabs.
The above address
is the sole location for the Subject.
TRADE REFERENCES
Vivid Stones
Address: 70 Clayson Toronto, ON
Telephone: 416 845-9074
Facsimile:
Contact: Mr. Fahad
Amount
Outstanding: -
Amount Past Due: -
High Credit
Utilized: -
Terms:
Days to Pay:
Credit Limit: -
Decor Stones
Address: 6221 HWY #7, Woodbridge ON
Telephone: 905 856-3344
Facsimile:
Contact:
Amount
Outstanding: -
High Credit
Utilized: -
Days to Pay:
Amount Past Due: -
Terms:
Credit Limit: -
Each of the above
companies has been contacted; however as of this writing no repose has been
received.
PUBLIC RECORD
A Nationwide of search of public records revealed no, tax liens or legal actions filed against the Firm. A search of the 9 jurisdictional bankruptcy courts of Canada report no bankruptcy filings by the Subject.
COMMENTS
Spectrum Granites is a new company started in 2004. The Subject is engaged as a
importer and distributor of granite
and tile slabs. No payment record could be obtained,
no derogatory information has been reported or
noted. A search of the 9 jurisdictional bankruptcy courts of Canada report no bankruptcy filings by the
Subject.
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%)