MIRA INFORM REPORT

 

 

Report Date :           

03.06.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

VAG CORP.

 

 

 

 

Registered Office :

35 Norgold Crescent, Ottawa ON K2T 1J1

 

 

 

 

Country :

Canada

 

 

 

 

Date of Incorporation :

19.02.1999

 

 

 

 

Com. Reg. No.:

ON-0001332455

 

 

 

 

Legal Form :

Corporation for Profit

 

 

 

 

Line of Business :

Manufacturer of engineering goods for the agriculture industry

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 3,000

Status :

Moderate 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Canada

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

GEOPOLITICS - CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Vag Agri Parts

Address in the order:

(Division of Vag Corp)

35 Norgold Crescent Ottawa, On

K2T 1JT

Comments on data supplied:

Vag Agri Parts is a non incorporated business of VAG Corp.

We therefore make the report on VAG Corp.

Legal Name:

VAG Corp.

Trade Name:

Strategic Solutions Group - Vag Agri Parts

Legal Address

35 Norgold Crescent

Ottawa ON K2T 1J1

Canada

Operative Address

35 Norgold Crescent

Ottawa ON K2T 1J1

Canada

Telephone:

1.613.355.0246

Registration Number :

ON-0001332455

Fax:

1.866.487.9529

Legal Form:

Corporation for Profit

Email:

info@vagcorp.com

Registered in:

Canada

Website:

agriparts.vagcorp.com

Date Created:

-

Manager:

Vishal Anand, Director

Date Incorporated:

February 19, 1999

Staff:

5

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Manufacturer of engineering goods for the agriculture industry.

 

 

BANKS

 

Name of the Bank

Toronto Dominion Bank

 

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

The subject operates as a contract manufacturer of engineering goods for the agriculture industry.

 

It manufactures parts and accessories as per our client's specifications and apply their brand name/logo to the final product.

Products/Services description:

 

- Three-point linkage/hitch parts (such as: Top Links, Side Links, P.T.O. Adaptors, Spindles, Stabilizers, Drawbars, Bushes, Hitch Balls and Pins, Linch Pins, Hair Clips and other types of Linkage Pins)

- Agricultural Implements (such as: Axles, Harrows, Hillers, Sod Cutters)

- Truck and Trailer parts and accessories (such as: Spanners, Hitch Balls, Trailer Jacks, Slat Connectors)

- Castings (such as: Gate Fittings, Axle Hubs, Stroke Control)

- Steel Forgings (such as: Clevises, Body & Tipper Fittings, Mid Links)

- CNC Machined Parts

- Wrenches/Spanners and Hand Tools

Sales are:

 

Wholesale

Operations area:

 

National, International

The company export to worldwide

The subject employs 5 employee(s)

Comments on staff:

 

The subject has more than 800 employees in India.

LOCATION

Headquarters

 

35 Norgold Crescent

Ottawa ON K2T 1J1

Canada

Branches:

 

It has 2 manufacturing facilities in India, with a total of 300,000 square feet.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

Vishal Anand is one of the shareholders.

Management:

 

Vishal Anand - Director



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.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

USD

2007

Turnover

753,000

Operating Income

44,000

Net Income

30,000

Net worth

100,000

Bank liabilities

20,000

The cash flow is

correct

 

Legal Fillings

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

 Final Opinion

 

The subject has a small structure in Canada.

 

It is not very well known in the market, but works internationally.

 

No adverse have been found.

 

Not being able to contact the company, we suggest a maximum credit line of USD 3,000 and monitoring its evolution.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public Records

NO

Indebtedness

N.A.

Payments

TO BE MONITORED

Cash

N.A.

 

 

 

 

APPENDIX

 

Comments

 

We called the company several times, but always get the answering machine of Mr. Vishal Anand.

As of today, he has not returned our calls.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.94

UK Pound

1

Rs.73.46

Euro

1

Rs.64.58

 

 

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.