MIRA INFORM REPORT

 

 

Report Date :

23.12.2011

 

IDENTIFICATION DETAILS

 

Name :

WOVEN REFLECTIONS

 

 

Registered Office :

5004 Timberlea Blvd. Unit #11, Mississauga, Ontario, Canada, L4W 5C5.

 

 

Country :

Canada

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

Not Available

 

 

Line of Business :

Importer and distributor of decorative rugs and accent rugs.

 

 

No. of Employees :

2

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Small Company

Payment Behaviour :

Unknown

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

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Canada

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS – CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: 100.00 CAD   =   97.9068 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

WOVEN REFLECTIONS

 

 

Legal Address

5004 Timberlea Blvd. Unit #11, Mississauga, Ontario, Canada, L4W 5C5.

 

Operative Address

5004 Timberlea Blvd. Unit #11, Mississauga, Ontario, Canada, L4W 5C5.

 

Telephone:

+1-905-282-9797

ID :

N/A

Fax:

+1-905-282-9333

Legal Form:

N/A

Email:

info.wovenreflections@gmail.com

Registered in:

Canada

Website:

http://www.wovenreflections.ca

Date Created:

-

Manager:

Ms. Farah Jahromi, Manager.

Date Incorporated:

N/A

Staff:

2

Stock:

N/A

 

 

Value:

N/A

Activity:

Importer and distributor of decorative rugs and accent rugs.

 

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

The company engages as an importer and distributor of decorative rugs and accent rugs.

 

Products/Services description:

 

Accent Rugs

Rugs

Tablecloths

Throws

Cushions

Unique Rugs

Sales are:

 

Wholesale.

Clients:

 

Professionals of the industry.

Operations area:

 

National.

The company imports from India.

The company does not export.

The subject employs 2 employees.

Comments on staff:

 

This information was not verified by the company.

 

 

PAYMENTS

 

To be monitored.

 

 

 

 

LOCATION

Headquarters

 

The company is headquartered at:

5004 Timberlea Blvd. Unit #11, Mississauga, Ontario, Canada, L4W 5C5.



Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company. Our sources indicate that Ms. Farah Jahromi is the main shareholder. This information was not verified by the company.

 

Management:

 

Ms. Farah Jahromi, Manager.

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

 

As a private company the subject does not publish any financial statements.

 

 

 

We have contacted a company's representative, but he stated that Ms. Farah Jahromi was not going to be available for several days and that he was not authorized to provide information about the company. 

 

 

Comments on the financial data: At this time, the 2010 financial figures were neither revealed nor released to our sources.

 

Legal Fillings

 

The sources consulted record no detrimental legal or labor court information.

 

 

 

Rating

 

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.

 

 

Final Opinion

 

This is a small sized Canadian company that engages as an importer and distributor of rugs and related products.

 

The company is located in a commercial district in Ontario.

 

The company is active and doing business.

 

A credit line may be considered for USD 3,000. However, payments should be monitored.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

TO BE MONITORED

 

Cash

N.A.

 

 

 

 



 

 

 

 

 



APPENDIX

 

Person Interviewed

 

The contacted person refused to provide his name.

Position

 

The person stated that he was the "shipping guy".

Comments

 

The contacted person provided us with the following information. Company name, location, activity, products, and management staff. However he refused to provide further information about the company without the manager’s authorization. The manager was not available at the moment of our call. 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.78

UK Pound

1

Rs.82.73

Euro

1

Rs.68.88

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

--

NB

                                       New Business

 

--

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.