MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
NINO MARCELLO
TEXTILE GROUP INC. |
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Registered Office : |
555 Chabanel West, Suite 902, Montreal, QC H2N 2H8 |
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Country : |
Canada |
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Date of Incorporation : |
06.08.1988 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Sportswear. |
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 85,000 |
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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 |
85,000 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 = 100.32 CAD Satisfying |
IDENTIFICATION
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Company Name: |
Nino
Marcello Textile Group Inc. |
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Address: |
555 Chabanel
West, Suite 902, Montreal,
QC H2N 2H8, Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (514) 385-5276 + 1 (514) 385-5021 1142485763 Quebec Jamal Abdul Rashid, President |
Date founded: |
06/08/1988
Corporation for Profit N.A. 25 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Wholesales sportswear. |
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BANKS
Scotia Bank
BUSINESS
Business:
Nino Marcello Textile Group Inc’s French
name is Groupe de Tissus Nini Marcello Inc.
The company’s general line of business is wholesaler of sportswear.
Industry Overview:
The Canadian apparel industry provides a wide variety of clothing
including activewear, sportswear, outerwear, fur clothing, casual and dresswear
for a variety of occasions. The number of Canadian designers and manufacturers
is increasing and Canadian labels are becoming favorites of consumers across
the globe.
According to Industry Canada the apparel industry is Canada’s tenth
largest manufacturing industry and is known for exports of children’s wear,
men's tailored clothing, outerwear, furs, and leather goods. The Canadian
apparel market registered $10.5 billion3 in 2003—domestic shipments accounting
for $4.4 billion. In the seven-year period of 1996-2003, the market has risen
24.7%, moving up from $8.4 billion in 1996 to $10.5 billion in 2003.
The Canadian apparel industry is made up of 2,700 firms employing more
than 79,000, approximately half being immigrants and mostly women. The vast
majority of apparel companies are Canadian-owned. Foreign-owned firms,
controlled mainly by US multi-national corporations, account for 2% of the
total. Comprising the larger firms in the industry, they are heavily involved
in manufacturing large volumes of standardized products such as jeans,
underwear and foundation garments.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Jamal
Abdul Rashid, President.
He
is also one of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Nino Marcello Textile Group 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 CAD |
12/31/2007 |
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Turnover |
4,200,000 |
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Operating Profit |
57,000 |
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Net Income |
43,000 |
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Net Worth |
100,000 |
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Liabilities |
40,000 |
LEGALS
0 Suits
0 Judgements
1 Settlement Out of Court
in 2007 by 9171-2364 Quebec Inc.
Amount: $17,534
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 35
days basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a small 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 |
Low Controlled Correct |
PUBLIC PAYMENTS |
None Regular |
ADVISED
CREDIT
85,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)