MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHEMPOSITE INC. |
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Registered Office : |
7903 Webster Road Delta, BC
V4G 1E4 |
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Country : |
Canada |
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Date of Incorporation : |
08.12.1981 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufactures Laminated
Plastic Sheet, Rod and Tubes. |
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 500,000 |
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Status : |
Satisfactory |
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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 |
500,000 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 = 102.19 CAD Satisfying |
IDENTIFICATION
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Company Name: |
Chemposite Inc. |
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Address: |
7903 Webster
Road Delta, BC V4G 1E4 Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (604) 946-7688 + 1 (604) 946-7038 BC-0000246362 British Columbia Samuel Lam, President |
Date founded: |
Dec 8, 1981
Corporation for Profit N.A. 150 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Manufactures laminated plastic sheet, rod and tubes. |
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BANKS
HSBC Bank Canada
BUSINESS
Business:
Chemposite Inc. is a
private company located in British Columbia, Canada. The company is a
manufacturer of laminated plastic sheet, rod and tubes.
Industry overview:
In the US, about 16,000 companies produce plastic and rubber products,
with combined annual revenue of $180 billion. Large producers include divisions
of DuPont, Tenneco, Textron, and Mark IV Industries. The industry is highly
fragmented: the 50 largest companies hold only 30 percent of the market because
of product specialization. The industry is a collection of hundreds of niches,
determined by material type, manufacturing process, and end-use.
Because plastic products are widely used in industry and as consumer
products, demand depends on the health of the US economy. The profitability of
individual companies depends on product mix and production efficiency. Large
companies have economies of scale in buying raw materials and in manufacturing
commodity products like bottles and plastic film. Small companies can compete
effectively by producing specialized products. Annual revenue per worker is
about $200,000.
Major products include plastic bottles, plastic film and sheets, plastic
pipe and foams, and rubber hoses; but half of industry revenue comes from
specialty products. Plastic products account for 80 percent of the industry.
Plastics and rubber have a wide range of physical properties, making them
suitable for different uses. Most producers specialize in a few product lines,
as the equipment and tooling needed to manufacture to customer specifications
can be expensive. Production usually occurs in single-use plants of less than
100,000 square feet. The typical manufacturer has a single plant and less than
50 employees.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Samuel
Lam, President.
He
is also one of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Chemposite 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 |
26,900,000 |
LEGALS
0 Suits
0 Judgements
0 Liens
0 Collection Claims Reported
0 NSF Cheques Reported
1 PPSA Filing in 2005 by
Red Mile Resources securing Book
Debts. Amount: NA
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 medium 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
500,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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%)