MIRA INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
MIDFIELD SUPPLY ULC |
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Registered Office : |
1140 2nd Avenue W. Brooks, Alberta T1R 0C3 |
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Country : |
Canada |
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Date of Incorporation : |
01.11.2007 |
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Com. Reg. No.: |
AB-2013600768 |
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Legal Form : |
Alberta Corporation - Profit |
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Line of Business : |
Distributor of Oilfield Supplies to the oil and gas market |
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 50,000 |
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Status : |
New Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company
Name
MIDFIELD SUPPLY ULC
Company
acronym
---
Contact Information
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Address |
1140 2nd Avenue W. Brooks, Alberta T1R 0C3 Canada |
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Telephone |
403-362-3800 |
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Fax |
403-362-6762 |
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Website |
www.midfieldsupply.com |
Registration Data
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Date of Registration |
November 1st, 2007 |
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Registration number |
AB-2013600768 |
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Legal address |
1140 2nd Avenue W. Brooks, Alberta T1R 0C3 Canada |
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Legal Form |
Alberta Corporation - Profit |
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Share Capital |
- |
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Other Registration Data |
MIDFIELD SUPPLY LTD was incorporated on February 2, 1987 under Alberta
ID# AB-0203601158. Changed several times until amalgamation with MIDFIELD SUPPLY ULC. |
Shareholders
with Shares
|
Shareholder Names |
Share% |
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McJunkin Red Man 835 Hillcrest Drive, Charleston, WV 25311
- USA |
50%+ |
Board/Executive
|
Name |
Dan ENDERSBY |
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Position within the company |
President and CEO |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Located in Western Canada, Midfield Supply ULC is a privately-held distributor of
oilfield supplies to the oil and gas market in Western Canada.
Majority owned by Red Man Pipe and Supply Company, Midfield has 64
supply stores located in the provinces of Alberta, Saskatchewan, Manitoba and
British Columbia
Staff
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Number of staff
employed |
70 |
Export/Import
(Countries, goods and total values for the period)
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Imports From |
USA, Europe, Far East |
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Exports To |
- |
Facilities
|
Owned |
Store, warehouse and office |
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Premises Size |
- |
Subsidiaries
and Participation
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Parent Company |
McJunkin Red Man - USA |
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Subsidiaries |
- |
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Affiliates |
- |
Branches
|
Address |
64 stores in Alberta, Saskatchewan, Manitoba and British Columbia |
Bankers
|
Bank |
Royal Bank of Canada |
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 |
31/12/2007 |
1,500,000 |
Reporter Comments
|
Comments |
On a direct call, nobody accepted to answer our
questions. Due to the low rate of the petroleum, several
companies are on stand-bye. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium
Trade Risk and to be fair. According to our credit analysts, during the last 6 months, 92% 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 50,000= |
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CREDIT REQUIRED |
MAXIMUM CREDIT |
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Maximum |
CAD 50,000= |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
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%)