MIRA
INFORM REPORT
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Report Date : |
16.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
LINGERIE HAGO INC |
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Registered Office : |
7070 rue St Urbain, Montreal,
QC H2S 3H6 |
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Country : |
Canada |
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Date of Incorporation : |
16.02.1965 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufactures Women’s
Nightwear |
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 125,000 |
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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 |
125,000 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: |
Lingerie Hago Inc. Dba Hago Lingerie Inc. |
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Address: |
7070 rue St
Urbain, Montreal, QC
H2S 3H6, Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (514) 276-2518 + 1 (514) 276-0806 1144689495 Quebec Sara Schlager, President |
Date founded: |
Feb 16, 1965
N.A. 100 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Manufactures women’s nightwear |
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BANKS
BMO Bank of Montreal
BUSINESS
Business:
Lingerie Hago Inc. also does business as Hago Lingerie Inc.
Lingerie Hago Inc. is a
manufacturer of women’s nightwear.
Industry overview:
About 15,000 companies manufacture clothing in the US, with combined annual
revenue of about $30 billion. Large companies include VF Corporation, Levi
Strauss, and Warnaco. The industry is highly fragmented: the 50 largest
companies hold less than 40 percent of the market. Some plants in the industry
have 500 workers and annual sales of $50 million, but most manufacturers
operate a single plant with fewer than 50 employees and annual revenue under $5
million. The industry includes knitting mills, but most apparel is cut and
sewn.
Demand is largely determined by consumer tastes and the comparative
costs of manufacture in the US and overseas. The profitability of individual
companies depends on operation efficiency and the ability to secure contracts
with clothing marketers. Small companies can compete effectively with large ones
by specializing in a particular type of apparel manufacture. There are few
economies of scale in manufacture, because of the high labor content of most
apparel. The industry is labor-intensive: average annual revenue per production
worker is about $125,000.
Because of the different skills and equipment needed to produce
different types of clothes, manufacturers usually specialize in one type. The
largest product segments are men's pants (20 percent of industry revenue);
women's skirts and pants (15 percent); women's tops (15 percent); men's tops
(12 percent); dresses (10 percent); and women's underwear (9 percent).
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company is:
Sara Schlager, President.
The parent company is Schlager Holding Ltd.
Schlager Holding Ltd.
7070 rue
Saint-Urbain
Montréal, PQ H2S 3H6,
Canada
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Lingerie Hago 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 |
6,300,000 |
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 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
125,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.17 |
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UK Pound |
1 |
Rs.86.46 |
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Euro |
1 |
Rs.68.68 |
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%)