MIRA
INFORM REPORT
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Report Date : |
20.12.2011 |
IDENTIFICATION DETAILS
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Name : |
1617719 ONTARIO LTD |
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Registered Office : |
88 Doncaster Ave Thornhill, Ontario L3T 1L3 |
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Country : |
Canada |
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Year of Establishment : |
2004 |
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Legal Form : |
Limited Company |
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Line of Business : |
Commercialization of rugs |
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No. of Employees : |
22 |
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RATING & COMMENTS
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MIRAs 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 : |
15,000 USD |
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Status : |
Satisfactory |
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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 September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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: CAD |
IDENTIFICATION
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Legal Name: |
1617719 Ontario Ltd |
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Trade Name: |
Weaver & Loom - Weaver and Loom - Art of Persia |
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Legal Address |
88 Doncaster Ave Thornhill, Ontario L3T 1L3 |
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Operative Address |
88 Doncaster Ave Thornhill, Ontario L3T 1L3 |
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Telephone: |
(905) 747-0477 |
Registration Number : |
N.A. |
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Fax: |
(905) 747-0877 |
Legal Form: |
Limited Company |
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Email: |
info@weaverandloom.com |
Registered in: |
Ontario |
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Website: |
http://www.weaverandloom.com |
Date Created: |
2004 |
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Manager: |
Saleh Lavei - Manager |
Date Incorporated: |
N.A. |
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Staff: |
22 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Commercialization of rugs |
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BANKS
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Name of the Bank |
TD BANK |
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BUSINESS
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PRINCIPAL ACTIVITY |
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The company operates in the commercialization of rugs. |
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Products/Services description: |
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Natural Area Rugs, Educational Rugs, Discount Area Rugs, Floor Rugs
and Navajo Rugs. |
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Sales are: |
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Retail |
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Clients: |
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Clients are the general public. |
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Operations area: |
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National |
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The company imports from the middle East, Asia |
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The company does not export |
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The subject employs 22 employee(s) |
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LOCATION |
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Headquarters |
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88 Doncaster Ave Thornhill, Ontario L3T 1L3 |
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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The company is privately owned. It would be owned by Mr. Ali Ghassemi and his family. However, we
could not verify this information with the staff. |
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Management: |
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Saleh Lavei - Manager Ali Ghassemi - Creative Director |
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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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 |
2010 |
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Turnover |
3,500,000 |
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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 normal credit rate. |
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Final Opinion |
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The company operates in the sale of rugs. It was created 7 years ago. It is single located in Ontario. It imports from the middle east and Asia, and does not export. No adverse record has been found. A credit line may be considered. |
SUMMARY
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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ADVISED CREDIT
15,000 USD
APPENDIX
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Comments |
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We tried to speak to the accountant of the company, Gaigeech, several
times, but he was not available. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.52.96 |
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1 |
Rs.82.04 |
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Euro |
1 |
Rs.68.91 |
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 SCs 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.