MIRA INFORM REPORT

 

 

Report Date :

26.02.2011

 

IDENTIFICATION DETAILS

 

Name :

BISSMA PACIFIC INC

 

 

Registered Office :

440 Kingston Road, Pickering, Ontario,  L1v 6v2

 

 

Country :

Canada

 

 

Year of Establishment :

1995

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Commodity Contract Trading

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 1,000,000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

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: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Bissma Pacific Inc

Address in the order:

440 Kingston Road, Pickering Ontario L1V 1A4

Legal Name:

Bissma Pacific Inc

Legal Address

440 Kingston Road, Pickering, Ontario,  L1v 6v2, Canada.

Operative Address

440 Kingston Rd Pickering, ON L1V 1A4, Canada

Telephone:

+1(905) 839-1317

ID :

NA

Fax:

+1(905) 839-9331

Legal Form:

Corporation for Profit

Email:

action@bissma.com

Registered in:

Canada

Website:

www.bissma.com

Date Created:

1883

Manager:

Magdi Bissada, President

Date Incorporated:

1995

Staff:

33 (at group level)

Stock:

NA

 

 

Value:

NA

Activity:

Commodity Contract Trading

 

 

BANKS

 

Name of the Bank

TD Bank

 

 

BUSINESS

 

HISTORY

 

The company was founded by Bissada Makarious in the year 1883.

PRINCIPAL ACTIVITY

 

Bissma Pacific Inc. engages in originating, processing, trading, and distributing pulses, oilseeds, grains, and natural gums.

 

Products/Services description:

 

The subject offers:

Lentils, broadbeans and faba beans, white beans, sesame seeds, peas, and chickpeas, as well as various products, such as pine and hazel nuts, pepper, canary seeds, mustard seeds, garlic powder, ginger, chilly powder, hibiscus flowers, melon seeds, popcorn, rice, coriander, ground nuts, sunflower seeds, niger seeds, rape seeds, and castor beans.

 

Sales are:

 

Wholesale

Clients:

 

Various industries

Operations area:

 

National, International, Local

The company imports from China, Canada, Ethiopia Eritrea Sudan United Kingdom, Australia,  Argentina, Chile and Turkey

The company export to Europe, North Africa, the Middle East, China, India, and Pakistan.

Comments on staff:

 

The company has 33 employees at group level.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at 440 KINGSTON RD, Pickering, Ontario 114, Canada.

Branches:

 

The company has other locations worldwide, situated in:

Tianjin, China.

Asmara, Eritrea.

Cairo, Egypt.

London, UK.

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

The company is privately held, and has the Bissada family as the main shareholder.

Management:

 

Magdi Bissada, President

Shan Wong, Vicepresident

Marcelle Bessada, Finance vicepresident



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted a representative who refused to provide us any financial data on grounds of confidentiality.

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.

 

Currency

DATE

USD

2010

Turnover

87,690,000

 

Currency

DATE

USD

2008

Turnover

74.9 M

 

 

Legal Fillings

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

 

 

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.

 

 

 Final Opinion

 

This is a medium sized company with 33 employees. The company belonging to the Bissada family has been in business for 128 years, and has 16 years of experience working on Canada.

There were no legal filings found against the company or its legal representatives.

 

The company reflected a good profitability for the year 2010.

 

The revenue for the year 2010 had an increase of 17 % compared to the year 2008.

 

A credit line may be considered for USD 1,000,000



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

GOOD

Public

NO

Indebtedness

N.A.

Payments

REGULAR

Cash

NORMAL

 

 

 



APPENDIX

 

Person Interviewed

 

Female representative.

Comments

 

Refused to provide us with information due to confidentiality reasons.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.37

UK Pound

1

Rs.73.25

Euro

1

Rs.62.68

 

 

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

 

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.