MIRA INFORM REPORT

 

 

Report Date :           

07.06.2011

 

IDENTIFICATION DETAILS

 

Name :

WORLD SHINER CANADA INC

 

 

Registered Office :

Suite 808, 80 Richmond Street West, Toronto M5H 2A4, Ontario

 

 

Country :

Canada

 

 

Year of Establishment :

2005

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Jewellery Wholesale Company

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

No Complaints

 

 

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)

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 - CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: 100.00 CAD = 97.0870 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

World Shiner Canada Inc

Address in the order:

Unit 808, 80, Richmond Street West, Toronto, Ontario M5H2A4

 

 

Legal Name:

WORLD SHINER CANADA INC

 

 

Legal Address

Suite 808, 80 Richmond Street West, Toronto M5H 2A4, Ontario, Canada.

 

 

Telephone:

1 (416) 3685955

ID :

NA

Fax:

1 (416) 3685855

Legal Form:

Corporation for Profit

Email:

worldshinercanada@yahoo.com

Registered in:

Canada

Website:

http://www.worldshiner.com

Date Created:

2005

Manager:

DHAR MESH, PRESIDENT

Date Incorporated:

NA

Staff:

3 (Est.)

Stock:

NA

 

 

Value:

NA

Activity:

Jewellery wholesale company

 

 

BANKS

 

Name of the Bank

ROYAL BANK OF CANADA

 

BUSINESS

 

HISTORY

 

The company was created in 2005

PRINCIPAL ACTIVITY

 

Jewellery wholesale company.

 

The business is established.

 

This is a small structure.

 

Products/Services description:

 

World Shiner is a diamond and jewellery wholesale company.

 

The company provides diamonds to retailers, offering an inventory list and internet services.

Sales are:

 

Wholesale

Clients:

 

Jewelry retailers

Operations area:

 

Local

The company imports from India, Australia.

The subject employs 3 employee(s)

PAYMENTS

 

made on a 60 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

Suite 808 80, Richmond Street West, Toronto M5H 2A4, Ontario, Canada.

Comments on location:

 

Headquarters and operative location.



Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a private company.  DHAR MESH is one of the main shareholders.

Management:

 

DHAR MESH, PRESIDENT & BOARD MEMBER.

KRUNAL JAIN, VICE 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 exceptionally in USD for 2010):

 

Currency

DATE

USD

2010

Turnover

1,220,000

 

 

Currency

DATE

CAD

2009

Turnover

1,619,800

The cash flow is

NORMAL

 


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 an established company.

 

The company's income is decreasing but still encouraging for the business' size.

 

No adverse record related to the company's name has been gathered.

 

We estimate that the structure can bear the credit line previously granted.

 

A business connection can be conducted.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 

 




APPENDIX

 

Comments

 

We called the company. We spoke with one of the company's staff. She was hardly speak English but indicated that the manager was absent.

 

 Bottom of Form

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.72

UK Pound

1

Rs.73.46

Euro

1

Rs.65.47

 

 

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.