MIRA INFORM REPORT

 

 

Report Date :

03.05.2008

 

 

IDENTIFICATION DETAILS

 

Name :

TECHNOLOGY & BUSINESS INTERNATIONAL INC.

 

 

Registered Office :

42-6981 Millcreek Dr. Mississauga

 

 

Country :

Canada

 

 

Date of Incorporation :

1996

 

 

Legal Form :

Federally Chartered Corp. - Private

 

 

Line of Business :

Wholesaler of Oil and Gas Supplies and Equipment for Companies in the Pakistan and Middle-Eastern Regions.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

 

 

 

 

 

 

 

 

 

 

 

 

IDENTIFICATION & EXECUTIVE SUMMARY

 

 

                                              Company Name:  TECHNOLOGY & BUSINESS INTERNATIONAL INC.

                                              Trade Name:        TBI Canada

                                              Address:                                                  42-6981 MILLCREEK DR.         

                                              City:                                                         MISSISSAUGA                    

Founded (D/M/Y):                    1996                                                       

                                              State/Province:                                         ON                                                     

                                              Zip Code:                                                  L5N 6B8                              

Sales / Revenue:                      3,000,000                                                

                                              Country:                                                   CANADA                             

Net Income:                             -                                                             

                                              Telephone:                                                905-813-2000                       

Total Equity:                            -                                                             

                                              Facsimile:                                                905-813-3048                       

Number of Employees:             30                                                           

                                              URL                                                                    www.tbicanada.com                 

                                              Legal Form:                                                       Federally Chartered Corp. - Private                                                         

                                              Shareholder:                                             Mr. Nasir Jamil Hashmi           Business Activity:                                              The Subject is engaged as a wholesaler of oil & gas supplies and equipment for companies in the Pakistan and Middle-Eastern regions.                                                      

 

 

NOTE TO CLIENT

 

 

PERSON CONTACTED: Mr. Waquas Baggia, Marketing Manager

 

 

LEGAL

 

 

Legal Form:                                     Federally Chartered Corp. - Private

Incorporation State                           Canada

Status:                                           ACTIVE

Since (D/M/Y):                                29/12/2006

 

The company is NOT required to publish an annual financial report.

 

 

The Subject is federally incorporated in Canada under the following  registration:                                                     

 

Corporation #6680453                                                  

BN #829618529RC0001

Corporation Name(s): Technology & Business International Inc.         

Mailing Address:                                                      

6981 MILLCREEK DRIVE UNIT 42 Mississauga, Ontario L5N6B8 Canada       

Registered Office Address: SAME                                       

Status: Active

Date of Incorp: 2006/12/29

 

 

 

 

 

MANAGERS / KEY PERSONNEL

 

 

 

Mr. Nasir Jamil Hashmi

Managing Director

 

Mr. Mazar Akhtar Gondal

Director

 

Mr. Waquas Baggia

Marketing Manager

 

 

Owners

 

 

 

 

 

Mr. Nasir Jamil Hashmi

 

50.00%

 

Shareholder

 

 

Mr. Mazar Akhtar Gondal

 

50.00%

 

Shareholder

 

 

 

 

AFFILIATED COMPANIES

 

 

The following company is affiliated with the Subject:

  

Oil and Gas Development Company Ltd. - PAKISTAN

 

BANKS

 

 

HSBC Bank                                                                  

 

City:

Richmond Hill

 

State/Province:

ON

 

Country:

CANADA

 

Telephone:

780 423-3563

 

 

Account Manager:

Amy Cheung

 

Bank rating:

 

Account Number:

 

 

Open Since (D/M/Y):

 

Credit Facility:

-

 

Overdraft Limit:

-

Outstanding Amount:

-

 

Bank Loans:

-

Returned Checks:

-

 

 

 

 

Average Account Balance:

 

 

 

 

 

 

 

 

 

Scotia Bank

 

 

City:

Mississauga

 

State/Province:

ON

 

Country:

CANADA

 

Telephone:

418 691-2600

 

Facsimile:

418 522-7809

 

 

Account Manager:

Geno

 

Bank rating:

 

Account Number:

 

 

Open Since (D/M/Y):

 

Credit Facility:

-

 

Overdraft Limit:

-

Outstanding Amount:

-

 

Bank Loans:

-

Returned Checks:

-

 

 

 

 

Average Account Balance:

 

 

 

 

 

 

The above-mentioned banks have been contacted. In the event of a response, we will forward the information immediately.

 

 

 

PAYMENT HISTORY

 

 

 

 

 

 

 

 

 

No payment record was found for the Company.                                    

 

                                                                                

 

The Firm was faxed a request for trade references.

 

 

 

 

 

FINANCIAL INFORMATION

 

 

 

Fiscal Year End :

 

 

 

 

 

Year-End (D/M/Y)

31/12/2007

 

 

 

Income Statement

Consolidated

 

 

 

 

Global Net Sales

3,000,000

 

 

 

 

 

 

FINANCIAL INDICATORS

 

 

 

According to Mr. Baggia, the Subject had 2007 fiscal year revenues of

 

$3 million CDN.

 

 

 

The figure is expressed in ACTUAL CDN.

 

 

CURRENT OPERATIONS

 

 

 

SIC Code:

 

 

NAICS Code:

4219

 

 

 

Miscellaneous Durable Goods Wholesalers

 

 

Number of Employees:

30

 

Business Activity:

 

 

The Subject is engaged as a wholesaler of oil & gas supplies and

 

equipment for companies in the Pakistan and Middle-Eastern regions.

 

 

 

The heading address is the location of the Company's headquarters.

 

 

 

The Firm has the following branch location:

 

 

 

Unit 04, 80-E, Malik Complex,

 

Blue Area, Islamabad,

 

Pakistan 44000

 

Phone: +92 51 282 2106

 

Fax: +92 51 282 2107

 

 

PUBLIC RECORD

 

 

No derogatory information such as bankruptcy filings, tax liens, or statements

of claim were found against the Company.

 

 

COMMENTS

 

 

 

The Subject is engaged as a wholesaler of oil & gas supplies and equipment for  

 

companies in the Pakistan and Middle-Eastern regions since 1996. No payment     

 

record was found for the Company. No derogatory information such as bankruptcy  

 

filings, tax liens, or statements of claim were found against the Company. The  

 

Firm should be considered responsible for normal business transactions.

 

 

 

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions