MIRA INFORM REPORT

 

 

Report Date :

21.01.2011

 

IDENTIFICATION DETAILS

 

Name :

CONTINENTAL INDUSTRIES GROUP, INC

 

 

Registered Office :

733 Third Ave. Fl. 20 New York, Ny 10017

 

 

Country :

United States 

 

 

Date of Incorporation :

18.08.1988

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Automotive Chemicals Manufacturing and Shapes Merchant Wholesalers

 

 

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 200.000

Status :

Satisfactory

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)

United States 

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS - UNITED STATES

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Continental Industiral Group, Inc

Address in the order:

733 Third Ave, 20th Floor, New York 10017, NY

 

 

Legal Name:

Continental Industries Group, Inc

 

 

Legal Address

733 Third Ave. Fl. 20 New York, NY 10017, USA.

Operative Address

733 Third Ave. Fl. 20 New York, NY 10017, USA.

Telephone:

+1 (212) 752-2020

ID :

1285671

Fax:

+1 (212) 821-0020

Legal Form:

Corporation for Profit

Email:

cig-ny@continental-industries.com

Registered in:

NY

Website:

www.continental-industries.com

Date Created:

1982

Manager:

Omer T Karabey, President

Date Incorporated:

AUGUST 18, 1988

Staff:

45 (at group level)

Stock:

200

 

 

Value:

No par value

Activity:

Automotive Chemicals Manufacturing and Shapes Merchant Wholesalers.

 

 

BANKS

 

Name of the Bank

Bank of America

Name of the Bank

BNP PARIBAS

Name of the Bank

Wachovia Bank

 

 

BUSINESS

 

HISTORY

 

This company was founded in 1983.

PRINCIPAL ACTIVITY

 

Originally, the company began importing chemical raw materials for the US market and later evolved into a global sales and distribution company of various chemicals and polymers.

Products/Services description:

 

Chemical products and different polymers

Sales are:

 

Wholesale

Clients:

 

Industry Professionals

Operations area:

 

National, International, Local

The company imports from Europe and Asia

The company export to Russia, Turkey, The Netherlands, Egypt and  China,

Comments on staff:

 

This company has 45 employees at group level, though it has 20 at this location.

 

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at 733 Third Ave, 20th Floor, New York 10017, New York.

The property is:

 

Owned

Branches:

 

There are other offices in, Europe, Middle East, Russia and the Far East.

 

 

Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a privately held comapny, despite our long searches it has not been possible to identify the main shareholder for this company.

Management:

 

Omer T Karabey, President

Marina Zosya, Controller

 

 

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):

 

 

Currency

DATE

USD

2008

Turnover

249 M

 

Legal Fillings

 There are thirteen UCC files listed with the Secretary of State of New York.

 

There are no legal filings listed with the District Court.

 

For information:

 

* The Specially Designated Nationals (SDN) List is a publication of OFAC which lists individuals and organizations with whom United States citizens and permanent residents are prohibited from doing business.

 

** The Uniform Commercial Code (UCC) is one of a number of uniform acts that have been promulgated in conjunction with efforts to harmonize the law of sales and other commercial transactions in all 50 states within the United States of America. 

 

The UCC deals primarily with transactions involving personal property (movable property), not real property (immovable property).

 

It allows a creditor to notify other creditors about a debtor’s assets used as collateral for a secured transaction by filing a public notice (financing statement) with a particular filing office.

 

The Uniform Commercial Code Bureau files and maintains on financial obligations (including IRS liens) incurred by individuals (in business as a sole proprietor), business entities and corporations.

 

 

Rating

 

Local credit bureau gave a Low 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 45 employees that has been in business for 26 years. There were no legal filings found against the company or its legal representatives.

 

A credit line may be considered for USD 200.000

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

N.A.

Payments

REGULAR

Cash

N.A.

 

 




FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.58

UK Pound

1

Rs.72.73

Euro

1

Rs.61.45

 

 

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.