MIRA
INFORM REPORT
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Report Date : |
11.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
LAB CHRYSOTILE INC. |
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Registered Office : |
Route 112, Thetford Mines, PQ G6H 2M9 |
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Country : |
Canada |
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Date of Incorporation : |
13.07.2007 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Miscellaneous Nonmetallic Minerals |
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 : |
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 |
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 = 101.13 CAD Satisfying |
IDENTIFICATION
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Company Name: |
LAB
Chrysotile Inc. |
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Address: |
Route 112 Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (418) 338-7500 + 1 (418) 338-9521 1164555519 Quebec Simon Dupere, President |
Date founded: |
July 13, 2007
Corporation for Profit N.A. 500 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Miscellaneous
nonmetallic minerals |
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BANKS
HSBC Bank
BUSINESS
Business:
LAB Chrysotile Inc. is a private company located in Thetford Mines,
Canada. The company is specialized in the industry of miscellaneous nonmetallic
minerals.
Industry overview:
The nonmetallic mineral mining and quarrying industry in the US includes
about 4,000 companies with annual revenues of about $20 billion. Major
companies include Vulcan Materials, Martin Marietta Materials, and subsidiaries
of foreign firms such as Hanson Building Materials (UK); Oldcastle Materials
(Ireland); and Rinker Materials (Australia). The industry is highly fragmented,
with many small firms serving local geographic markets; about 75 percent of
operations have fewer than 20 employees.
Demand is driven by construction spending and agricultural spending on
fertilizers. Large companies have some economies of scale in purchasing and
administrative systems, and have the production volume to supply large
construction projects, such as new highways. Small companies typically own just
one mine and compete in a local market based on superior customer service.
Annual revenue per employee averages about $200,000.
Major products include crushed and broken limestone (30 percent of
revenue); construction sand and gravel (25 percent); crushed and broken granite
(10 percent); and phosphate rock and potassium salts (10 percent). Other
products include soda ash, bentonite, clay, and other broken stone. Phosphates
and potassium salts are used to make fertilizers. Crushed stone, sand, and
gravel are also referred to as aggregates.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Simon
Dupere, President.
He
is also one of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
LAB Chrysotile Inc. does not publish any financial statement.
However
our financial sources and the company’s staff could provide us with the
following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
25,400,000 |
LEGALS
0 Suits
0 Judgements
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
0 PPSA Filings
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 large 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 |
None 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.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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%)