MIRA INFORM REPORT
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Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
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Name : |
WALCO EQUIPMENT LTD |
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Registered Office : |
20 Arthur ST N Elmira Ontario, N3B 1Z9 |
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Country : |
Canada |
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Year of Establishment : |
1972 |
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Legal Form : |
Limited Company |
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Line of Business : |
Wholesaler of agricultural equipment |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Small Company |
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Payment
Behaviour : |
Usually Correct |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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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: USD |
IDENTIFICATION
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Ordered as: |
Walco Equipment Ltd |
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Address in the order: |
20 Arthur ST N Elmira Ontario, N3B 1Z9, Canada |
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Legal Name: |
WALCO EQUIPMENT LTD |
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Trade Name: |
WALCO |
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Legal Address |
20 Arthur ST N Elmira Ontario, N3B 1Z9, Canada |
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Telephone: |
+ 1 (519) 669-4025 |
Document Number : |
NA |
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Fax: |
+ 1 (519) 669-1436 |
Legal Form: |
Limited Company |
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Email: |
orders@walcoequipment.com |
Registered in: |
Ontario |
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Website: |
http://www.walcoequipment.com |
Date Created: |
1972 |
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Manager: |
James Martin, President |
Date Incorporated: |
NA |
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Staff: |
35 employees |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Wholesaler of agricultural equipment |
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BANKS
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Name of the Bank |
HSBC |
BUSINESS
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HISTORY |
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The company was created
in 1972 |
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PRINCIPAL ACTIVITY |
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The company supplies
industrial chain, hooks, cargo control, overhead lifting slings and component
parts. They also offer all sizes
and types of tire chain. Walco Equipment Ltd.
sources equipment and products from around the world. They sell to selected
dealers. Walco Equipment Ltd.
(Walco) has been in business since 1972 and was purchased in 1983 by the
current owners. |
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Products/Services description: |
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Short line Agricultural
& Lawn & Garden Equipment, Industrial Products, Cargo Control &
Tire Chain. For Equipment lines, both whole goods & parts |
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Sales are: |
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Wholesale |
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Operations area: |
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National, International |
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Trade References: |
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Heavy Duty Distributor Council |
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The subject employs 35
employee(s) |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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20 Arthur ST N Elmira Ontario, N3B 1Z9, Canada |
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Comments on location: |
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Headquarters |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The Martin family is the
main shareholder. |
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Management: |
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James Martin, President, Laverne Martin, secretary. |
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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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We have contacted the
company, who refused to provide us any financial data without knowing
the name of the inquiring party. |
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However our financial
sources could provide us with the following data (estimates exceptionally
provided in USD): |
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Currency |
DATE |
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CAD |
2010 |
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Turnover |
8,806,500 |
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The cash flow is |
NORMAL |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
10,630,000 |
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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 medium credit rate. The company is in Good Standing. This means that all local and federal
taxes were paid on due date. |
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Final Opinion |
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We are reporting a small sized Canadian company, which employs 35
people and has 38 years of experience in the market. The company's length of payment is regular. No specific adverse record related to the company's name has been
noticed. However, the turnover has decreased, comparing 2009 and 2010. A credit line may be granted for USD 50,000 |
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SUMMARY
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Profitability |
CORRECT |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Comments |
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We have contacted the
company, who refused to provide us any financial data without knowing the
name of the inquiring party. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.89 |
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UK Pound |
1 |
Rs.73.85 |
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Euro |
1 |
Rs.64.76 |
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 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.