MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHEEN NETTWORK INC. |
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Registered Office : |
55 Havenlea Road, Scarborough, ON
M1X 1T2 |
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Country : |
Canada |
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Date of Incorporation : |
29.01.2007 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesales Clothing |
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 4,000 |
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Status : |
New and 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 |
4,000 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 = 102,64 CAD Satisfying |
IDENTIFICATION
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Company Name: |
Sheen Nettwork Inc. |
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Address: |
55 Havenlea
Road, Scarborough,
ON M1X 1T2, Canada. |
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Phone: Facsimile: ID: State: Managers: |
NA NA ON-0001723549 Ontario Ganesh Kumar, Director. |
Date founded: |
Jan 29,2007
Corporation for Profit N.A. 3 employees |
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Legal form: |
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Value: |
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Staff: |
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Business: |
Wholesales clothing |
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BANKS
RBC
BUSINESS
Business & Operations:
Sheen Nettwork's core areas include sampling, product development,
negotiating prices, choosing the right vendor, quality assurance and management
through inspections and logistics.
Sheen Nettwork handles the following fabrics:
- 100% cotton,
- Cotton with polyester,
- 100% viscose,
- 100% wool,
- Wool mix fabrics,
- 100% silk.
The company is also able to offer the following products:
- Knits: Men, Ladies, Boys, Girls and Infant Wear,
- Woven: Men, Ladies, Boys, Girls and Infant Wear,
- Home Textiles and Furnishings,
- Ties and Socks,
- Leather Jackets and Accessories,
- Outer wear / Ski Wear,
- Sports Wear.
Sheen Nettwork is working worldwide.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
director of the company is:
Ganesh
Kumar, Director.
He
is also one of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Sheen Nettwork 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 |
219,000 |
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Operating Profit |
11,000 |
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Net income |
7,000 |
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Net worth |
17,000 |
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 40
days basis (monitored during the past 12 months).
The cash is medium.
Our final opinion:
This is a small company
working in the US.
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 Medium |
PUBLIC PAYMENTS |
None Regular |
ADVISED
CREDIT
4,000 USD
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%)