MIRA
INFORM REPORT
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Report Date : |
19.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
TITAN METALS CORPORATION |
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Registered Office : |
2626 S Loop
West, Suite 530, Houston, TX 77054 |
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Country : |
United States |
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Date of Incorporation : |
29.05.2001 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Metals Service Center. |
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 20,000 |
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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 |
USD Satisfying |
IDENTIFICATION
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Company Name: |
Titan
Metals Corporation |
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Address: |
2626 S Loop
West, Suite 530, Houston, TX 77054, USA |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (713) 432-9626 + 1 (713) 432-9797 0163077000 Texas Mukesh Turakhia, President |
Date founded: |
May 29, 2001
Corporation for Profit N.A. N.A. 5 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Metals service center. |
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BANKS
Bank of America
BUSINESS
Business & Operations:
Titan Metals Corporation is
primarily
involved in exporting all kinds of secondary, surplus Stainless Steel sheets,
coils, plates, pipes, round and square tubings, and scrap to India, Pakistan,
and Far East.
The company focuses its business on:
-Non-ferrous Metal,
-Iron and steel,
-Non-ferrous metal alloy,
-Non-ferrous metal products,
Titan Metals Corporation is
a private company servicing all non-ferrous scrap metal and working worldwide.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The director of the company
is:
Mukesh Turakhia, President.
He is also one of the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
As a private company, Titan
Metals Corporation does not publish any financials.
However our source provide us with the following information :
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Fiscal Year USD |
12/31/2007 |
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Turnover
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920,000 |
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LEGALS
0 Suits
0 Judgments
0 Liens
0 Collection Claims
Reported
0 NSF Cheques Reported
0 UCC 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.
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The cash flow is correct.
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Payments are made on a regular basis.
Our final opinion
This is a small Company working on the global market.
The company presents satisfying financial results comparing to its size.
A credit line may be considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
No Regular |
ADVISED CREDIT
20,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)