MIRA INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADLER STEEL LIMITED |
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Registered Office : |
150 Consumers Road, Suite 503, Toronto, Ontario M2J 1P9 |
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Country : |
Canada |
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Date of Incorporation : |
14.06.2001 |
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Com. Reg. No.: |
Federal ID# 3909492 |
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Legal Form : |
Federal Corporation |
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Line of Business : |
Importer and exporter of Steel and related products, such as Tubes,
Pipes, Wires, Steel Pipes, Valves,
Fittings, Steel related machinery and equipment, Hand Tools |
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 : |
CAD 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slightly Slow But Correct |
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Litigation : |
Clear |
Company
Name
ADLER STEEL LIMITED
Company
acronym
--
Contact Information
|
Address |
150 Consumers Road, Suite 503 Toronto, Ontario M2J 1P9 Canada |
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Telephone |
416-498-5559 |
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Fax |
416-498-9727 |
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Website |
www.adlersteel.com |
Registration Data
|
Date of Registration |
06-14-2001 |
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Registration number |
Federal ID# 3909492 A Federal Corporation is allowed to do business in all the Canada |
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Legal address |
150 Consumers Road, Suite 503 Toronto, Ontario M2J 1P9 Canada |
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Legal Form |
Federal Corporation |
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Share Capital |
- |
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Other Registration Data |
- |
Board/Executive
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Name |
Vijay LAL |
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Position within the company |
President and CEO |
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Name |
Indu LAL |
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Position within the company |
COO |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Importer and exporter of Steel and related products, such as Tubes,
Pipes, Wires, Steel Pipes, Valves, Fittings,
Steel related machinery and equipment, Hand Tools
Staff
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Number of staff
employed |
5 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
Far East |
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Exports To |
USA, Central and South America |
Facilities
|
Rented |
Office |
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Premises Size |
- |
Branches
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Address |
Adler Steel Limited |
Bankers
|
Bank |
Royal Bank of Canada |
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Branch |
HSBC |
Suppliers,
Partners
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Suppliers |
Not known |
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Partners |
Not known |
Litigation,
Remarks on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
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Source |
Royal Bank |
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Figures are |
Estimate |
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Currency |
CAD |
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Months |
Sales Figures |
Sales |
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12 |
03/31/2008 |
7,000,000= |
Reporter Comments
|
Comments |
We sent a fax but no
answer was received. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Low
Trade Risk and to be fair. The Company is improving its payments, but the cash is low, due to high
inventories and bad conditions of the market. According to our credit analysts, during the last 6 months, 88% of
trade experience indicates a regular payment. Payments of imports are currently made with an average of 5 days
beyond terms. |
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MAX CREDIT |
CAD 150,000= |
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CREDIT REQUIRED |
MAXIMUM CREDIT |
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Maximum |
CAD 150,000= |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.68 |
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UK Pound |
1 |
Rs.74.64 |
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Euro |
1 |
Rs.62.58 |
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%)