MIRA INFORM REPORT
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Report Date : |
13.04.2011 |
IDENTIFICATION DETAILS
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Name : |
FIDELITY STAINLESS LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
07.06.1985 |
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Com. Reg. No.: |
ON-0000636856 |
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Legal Form : |
Limited Company |
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Line of Business : |
Steel Wholesaler |
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 |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Fidelity Stainless Ltd |
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Address in the order: |
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Legal Name: |
Fidelity Stainless Ltd |
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Legal Address |
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Telephone: |
(905) 823-1048 |
Registration Number : |
ON-0000636856 |
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Fax: |
(905) 823-5703 |
Legal Form: |
Limited Company |
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Email: |
Registered in: |
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Website: |
Date Created: |
N.A. |
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Manager: |
Tom Pope - President |
Date Incorporated: |
07-06-1985 |
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Staff: |
9 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Steel wholesaler |
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BANKS
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Name of the Bank |
CANADIAN IMPERIAL BANK OF COMMERCE |
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Name of the Bank |
ROYAL BANK OF |
BUSINESS
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HISTORY |
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The company was incorporated for business in 1985 |
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PRINCIPAL ACTIVITY |
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Fidelity Stainless Ltd. consolidates its purchases and sales of Stainless
Steel Long products, Stainless Tube, Aluminum Extrusions of many shapes and
Aluminum Flat Rolled to reach |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry |
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Suppliers: |
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Froch Enterprise CO LTD NO.122 |
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Operations area: |
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National |
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The company imports from |
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The subject employs 9 employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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Fidelity Stainless Ltd. is headquartered at: |
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Surface area: |
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Branches: |
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The company reports no branch locations |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This is a private company, in which the Pope family is the main
shareholder. |
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Management: |
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Tom Pope, President Mike Pope, Vice President Patrick Dolan, Sales Representative Hugo Teodoro, Sales Representative |
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Related Companies: |
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PAC PVF Trade Inc. |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted Ms. Jennifer, who refused to provide us any
financial data without knowing the name of the inquiring party. |
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However our financial sources could provide us with the following
data. Those figures are estimates provided by confidential banking and
financial institutions working with the company. |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
3,752,120 |
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The cash flow is |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
2,200,000 |
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Operating Income |
21,000 |
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Net Income |
10,000 |
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Liabilities |
50,000 |
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The cash flow is |
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Legal Fillings |
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The
sources consulted record no detrimental legal or labor court information. |
Rating
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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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Final Opinion |
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This is a small sized Canadian company which employs 9 persons and has
25 years of experience in the market. There were no legal filings found against the company or its legal
representatives. It is a family owned business, in which the Pope family is
the main shareholder. The income per employee is good for the company's size. Because of the company’s legal form, limited company, no action could
succeed against the owner’s personal assets. A credit line may be considered for USD 50,000. |
SUMMARY
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Profitability |
CORRECT |
Public |
NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
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APPENDIX
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Person Interviewed |
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Ms. Jennifer |
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Comments |
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The person contacted provided us with general information, which is included
in the report. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.22 |
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1 |
Rs.72.26 |
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Euro |
1 |
Rs.63.90 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.