MIRA INFORM REPORT
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Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
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Name : |
FANTASTIC JEWELLERY INC |
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Registered Office : |
27, Queen Street E, Suite 1402, Toronto, ON Canada M5C 2M6 |
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Country : |
Canada |
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Year of Establishment : |
2005 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Jewellery 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 : |
No Complaints |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Canada |
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 - CANADA
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: 100.00 USD = 95.4022 CAD |
IDENTIFICATION
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Ordered as: |
Fantastic Jewellery Canada Inc |
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Address in the order: |
Fantastic Jewellery Canada Inc |
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Legal Name: |
Fantastic Jewellery Inc |
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Legal Address |
27, Queen Street E, Suite 1402, Toronto, ON Canada M5C 2M6 |
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Telephone: |
+1 (647) 345-5401/ +1 (647) 345-5613/+1 (647) 345 5362 |
ID : |
NA |
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Fax: |
+1 (647) 345-5362 |
Legal Form: |
Corporation for Profit |
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Email: |
NA |
Registered in: |
Canada |
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Website: |
NA |
Date Created: |
2005 |
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Manager: |
Sarkis Krkorian, General Manager |
Date Incorporated: |
NA |
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Staff: |
2 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Jewellery wholesaler. |
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BANKS
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Name of the Bank |
Royal Bank of Canada |
BUSINESS
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HISTORY |
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This company was created in the year 2005. |
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PRINCIPAL ACTIVITY |
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This company operates as a jewellery wholesaler. |
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Products/Services description: |
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Precious stones Neckalaces Earings Diamonds Among others. |
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Sales are: |
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Wholesale |
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Clients: |
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Retail jewellery stores Among other various industries. |
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Operations area: |
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National, Local |
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The company imports from Asia |
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The company does not export |
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The subject employs 2 employee(s) |
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PAYMENTS |
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regular |
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Branches: |
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There were no branches found for this company. |
Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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This company is privately held and has Sarkis Krikorian as the main
shareholder. |
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Management: |
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Sarkis Krikorian, General Manager. |
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 Roxanne, who kindly provided us with basic
information. However, she requested us to call back to talk with the owner in
order to get financial information. Our agent called back again, and talked to the owner who kindly
provided us with the following information: |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
3,500,000 |
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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 medium 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 family owned business with two
employees and 6 years of experience. There were no legal filings found against
the company or its legal representatives. We've contacted the company and they
kindly provided us with relevant information to fulfill this report. The company gave a correct profitability
for the year 2010. A credit line may be considered for USD
50,000. |
SUMMARY
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Profitability |
CORRECT |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Roxanne Sarkis Krikorian |
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Position |
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Manager Owner |
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Comments |
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She kindly provided us with basic information to fulfill this report.
However she requested us to call them back to speak with the owner, in order
to get financial information. We called back and the owner kindly provided us with the revenue for
the year 2010. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.23 |
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UK Pound |
1 |
Rs.72.09 |
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Euro |
1 |
Rs.62.99 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.