MIRA
INFORM REPORT
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Report Date : |
22.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMELT CORPORATION |
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Registered Office : |
255 Duncan Mill Road, Suite
601, North York ,ON M3B 3H9 |
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Country : |
Canada |
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Date of Incorporation : |
13.02.2006 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufactures induction
heating equipment |
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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Maximum Credit Limit : |
USD 15,000 |
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Status : |
Small Company |
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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 |
15,000 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 = 100.34 CAD Satisfying |
IDENTIFICATION
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Company Name: |
Amelt Corporation |
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Address: |
255 Duncan Mill
Road, Suite 601, North York ,ON
M3B 3H9, Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (416) 449-7990 + 1 (416) 449-9349 ON-0002093955 Ontario Harry Nava, President |
Date founded: |
Feb 13, 2006
Corporation for Profit N.A. 7 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Manufactures induction heating equipment |
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BANKS
RBC
BUSINESS
Operations & Business:
Amelt Corporation is an independent company based in Toronto, Canada, who
is specialists to the foundry, (melting, forging and heating) industries and
supplier of high quality Medium Frequency Induction Melting, Heating and
Forging Furnaces from 100HZ to 200KHZ and also from 60gr. To 25000 Kg capacity.
Amelt have evolved with time and technology to become a manufacturer and
exporter of induction melting, forging and heating furnaces. With over 15 years
experience their objective is to provide high quality service to steel and
foundry industries (globally).
The company is working worldwide. Their mission is to provide complete
range of Induction Furnaces for reliable operation of induction equipment. They
are focus on innovation to respond to the new customers' need.
Amelt Corporation is one of the world's leading designer and
manufacturer of induction melting systems for the metals industry in Canada and
around the world.
Industry overview:
Most sales by manufacturing companies are to other manufacturing
companies. Profitability depends on efficient and cost-effective manufacturing
operations and distribution. Small companies can compete by producing
specialized products or selling into specialized markets. Large companies have
advantages of scale in procurement, production, distribution, and marketing.
Average sales per employee vary greatly due to the large variety of products in
this sector.
Major products of the US manufacturing sector include transportation
equipment, computers, electronics, food, chemicals, machinery, and products
made of metal, plastic, and paper. Annual revenue for manufacturers of cars and
planes is about $600 billion; computers and electronics, $450 billion; food,
$425 billion; chemicals, $425 billion; machinery, $300 billion; metal products,
$250 billion; plastics, $165 billion; and paper, $150 billion. Annual revenue
of manufacturers equals that of the wholesale trade sector, and is four times
larger than healthcare and construction. The net output of the manufacturing
sector is about $1.5 trillion, or 16 percent of the US gross domestic product.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Harry
Nava, President.
He
is also one of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Amelt Corporation 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 |
781,000 |
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Operating Profit |
49,000 |
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Net income |
37,000 |
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Net Worth |
120,000 |
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Liabilities |
50,000 |
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 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 |
Medium Controlled Correct |
PUBLIC PAYMENTS |
None Regular |
ADVISED
CREDIT
15,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
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%)