MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
VAG CORP DBA STRATEGIC SOLUTIONS GROUP |
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Registered Office : |
35 Norgold
Cresent, Kanata, ON K2R 1J1 |
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Country : |
Canada |
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Date of Incorporation : |
19.02.1999 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Manufacturer of
Engineering Goods |
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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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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 = 101.59 CAD Satisfying |
IDENTIFICATION
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Company Name: |
Vag Corp Dba Strategic Solutions Group; Vag
Agri Parts |
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Address: |
35 Norgold
Cresent, Kanata, ON K2R 1J1, Canada |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (613) 355-0246 + 1 (866) 487-9529 ON-0001332455 Ontario Vishal Anand, Director |
Date founded: |
Feb 19, 1999
Corporation for Profit N.A. 5 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Manufactures engineering goods |
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BANKS
Toronto Dominion Bank
BUSINESS
Business &
Operations:
Vag Corp also does business as Strategic Solutions Group; Vag Agri
Parts.
VAG Agri-Parts is a contract manufacturer of engineering goods for the
agriculture industry. The engineering goods they manufacture include, but are not
limited to, the following:
-Three-point linkage/hitch parts,
-Agricultural Implements,
-Truck and Trailer parts and accessories,
-Castings,
-Steel Forgings (such as: Clevises, Body & Tipper Fittings, Mid
Links),
-CNC Machined Parts,
-Wrenches/Spanners and Hand Tools,
They manufacture parts and accessories as per client's specifications
and apply their brand name/logo to the final product. The products are then
packed, bar-coded and shipped to their location anywhere in the world.
With its head office in Ottawa (Canada) and its vast, state of the art
manufacturing operations in India, VAG Agri-Parts provides products and
services to OEM's, wholesalers, distributors and dealers across the globe.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Vishal Anand, Director.
He is also one of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Vag Corp. 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 |
753,000 |
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Operating profit |
44,000 |
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Net Income |
30,000 |
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Net worth |
100,000 |
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Liabilities |
20,000 |
LEGALS
0 Suits
0 Judgements
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
1 PPSA Filing in 2007 by
Toronto Dominion Bank Securing Book Debts Amount: NA
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 |
See above Regular |
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%)