MIRA INFORM REPORT

 

Report Date :           

09.06.2011

 

IDENTIFICATION DETAILS

 

Name :

NI MET METALS&MINERALS INC

 

 

Registered Office :

2939 Portland Drive, Suite 300, Oakville, Ontario

 

 

Country :

Canada

 

 

Year of Establishment :

1990

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Wholesales iron and steel scrap

 

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 500,000

Status :

Satisfactory

Payment Behaviour :

Usually 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 – 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: 100.00 USD = 97.8673 CAD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

NI Met Metals & Minerals Inc

Address in the order:

2939 Portland Drive Suite 300 Oak Ville Ontario L6H 5S4

 

 

Legal Name:

NI MET METALS&MINERALS INC

 

 

Legal Address

2939 Portland Drive, Suite 300, Oakville, Ontario, Canada

 

 

Telephone:

+1 (289) 291-1111

ID :

 ON-0001563138

Fax:

+1 (289) 291-1100

Legal Form:

Corporation for Profit

Email:

ni-met@ni-met.com

Registered in:

Canada

Website:

http://www.ni-met.com

Date Created:

1990

Manager:

Anil Shah,  President

Date Incorporated:

NA

Staff:

20

Stock:

NA

 

 

Value:

NA

Activity:

Wholesales iron and steel scrap

 

 

BANKS

 

Name of the Bank

ROYAL BANK OF CANADA

 

 

BUSINESS

 

HISTORY

 

The company was created in 1990.

 

PRINCIPAL ACTIVITY

 

Wholesales iron and steel scrap

Products/Services description:

 

Ni-Met Metals & Minerals Inc.’s line of business is wholesaler of iron and steel scrap.

 

Exports of nonferrous base metals & scraps.

 

Sales are:

 

Wholesale

Clients:

 

Metal Recycling Industry.

Operations area:

 

National, International

The company imports from Chile

The company export to India and China

The subject employs 20 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at: 2939 Portland Drive, Suite 300, Oakville, Ontario, Canada

 

Comments on location:

 

Headquarters

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private compay. Anil Shah is the main shareholder.

Management:

 

Anil Shah, President

Girish Kekre, Vice President

Pankaj Lilani, Finance Controller

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

A previous agent was able to contact GIRISH KEKRE, VICE PRESIDENT, who provided him with the following data:

 

Currency

DATE

 

CAD

2009

Turnover

55,000,000

Net Income

5,000,000

The cash flow is

NORMAL

 


Comments on the financial data: We recontacted re company and the operator said that the turnover for 2010 was CAD 55,000,000 (estimates)

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 a small sized canadian company, which employs 20 people and has 21 years of experience in the market.

 

There were no legal filings found against the company or its legal representatives.

 

The company trades scrap metals to India and China.

 

A credit line may be considered for USD 500,000.-

 

 

SUMMARY


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public Records

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 

 

 



 

 

 

APPENDIX

 

Position

 

Operator

Comments

 

The person contacted provided us with all the information stated in the report.

 

Nevertheless, she refused to provide us with her name.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.61

UK Pound

1

Rs.73.28

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.