MIRA INFORM REPORT

 

 

Report Date :

12.01.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

METALLIAGE INC.

 

 

 

 

Registered Office :

5335 Rue Ramsay, Saint-Hubert, QC, J3Y 2S3

 

 

 

 

Country :

Canada

 

 

 

 

Date of Incorporation :

12.11.1998

 

 

 

 

Legal Form :

Corporation for Profit

 

 

 

 

Line of Business :

Metallurgy

 

 

 

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 :

60,000 USD

Status :

Satisfactory

Payment Behaviour :

Slow but Correct 

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: CAD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Motalliage Inc

Address in the order:

5335, Rue Ramsay, St Hubert Quebec, Canada J3Y 253

Comments on data supplied:

The company's correct name is listed below.

Legal Name:

METALLIAGE INC.

 

 

Legal Address

5335 Rue Ramsay,

Saint-Hubert, QC,

J3Y 2S3,

Canada

 

 

Telephone:

+ 1 (450) 678-0007

Document Number :

1149267909

Fax:

+ 1 (450) 678-3682

Legal Form:

Corporation for Profit

Email:

info@metalliage.ca

Registered in:

Quebec

Website:

www.metalliage.ca

Date Created:

November 12, 1998

Manager:

Amir Hooshang Jolan

Date Incorporated:

April 12, 2000

Staff:

20 employees

Stock:

NA

 

 

Value:

NA

Activity:

Metallurgy

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Founded in 1998, Metalliage Inc. has is a manufacturer of ferrotitanium in Canada.

 

Metalliage is located in Greater Montreal, Quebec.

 

The company's operations are focused upon satisfying the ferrotitanium requirements of clientele.

 

The subject produces FeTi 70% using the Surface Protection Argon Liquid (SPAL) process.

 

The production technique gives upper hand in supplying companies working in the metallurgy industry.

 

The structure sells 10% on the local market and the rest in the US.

 

We called the company. The staff was cooperative and confident during the interview.

Sales are:

 

Wholesale

Operations area:

 

National, International

The company imports from India and the US.

Trade References:

 

AIR LIQUIDE CANADA - TEl: 540 641 62 22

J RENE HEBERT - TEl: 540 641 62 22

The subject employs 20 employee(s)

PAYMENTS

 

made on a 65 days basis - monitored over the last 12 months

 




Shareholders - Manager - Related Companies

 

Shareholders /

Parent Company(ies):

 

 

 

 

 

 

 

Management:

·         ABBAS RAHBARY - Main Shareholder

·         KHADIR ABOUJAFAR - Second  Shareholder

·         AMIR HOOSHANG JOLAN - Third Shareholder

·         RAZAVI KAYHAN, President,

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

However our financial sources could provide us with the following data (estimates confirmed by Pierre Bouillon, Controller):

 

Currency

DATE

CAD

2010

Turnover

5,000,000

Net worth

2,500,000

Liabilities

142,000

 

Currency

DATE

CAD

2009

Turnover

3,000,000

 

Currency

DATE

CAD

2008

Turnover

8,000,000

 

Comments on the financial data:

The structure had a very difficult 2009 year with the loss of big clients. The structure got back on track during the year 2010 and the signature with recent new clients bring real positive expectations for  the year 2011 (Turnover expected 7,500,000 CAD).

Legal Fillings

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

 

The company’s 2009 annual report was filed on July 16, 2010.

 

 

Rating

 

Local credit bureau gave a correct credit rate.

 

The company is not in Good Standing. This means that some local and federal taxes were not paid on due date.

 Final Opinion

 

After a difficult year 2009, the subject is back on track.

 

Recent new contract and partnership should sustain the business' growth.

 

The staff appears confident and cooperative during the interview.

 

We nevertheless suggest the need of monitoring for the subject’s length of payment.

 

We estimate that the structure can handle a credit line.

 

A business connection can be conducted.



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

Indebtedness

CONTROLLED

Payments

TO BE MONITORED

Cash

NORMAL

 

 

 

 

ADVISED CREDIT

60,000 USD

 




APPENDIX

 

Person Interviewed

 

Pierre Bouillon

Position

 

Controller

Comments

 

He confirmed all the information included in the report.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.32

UK Pound

1

Rs.70.54

Euro

1

Rs.58.70

 

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.