MIRA INFORM REPORT

 

 

Report Date :           

23.06.2011

 

IDENTIFICATION DETAILS

 

Name :

ALL SEAS FISHERIES CORP (ALL SEAS FISHERIES INC)

 

 

Registered Office :

55 Vansco Road, Etobickoe, Ontario M8Z 5Z8

 

 

Country :

Canada

 

 

Year of Establishment :

1983

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Frozen Food

 

 

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

 

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  = 97.3365 CAD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

All Seas Fisheries Inc

Address in the order:

55 Vansco Road, Etobickoe, Ontario M8Z 5Z8

Comments on data supplied:

Dear client:

 

After contacting the company we've learned that the actual company name is All Seas Fisheries Corp; and the company name you provided is that of a trade name of the main company. That is why we proceed on making the report under that name.

Legal Name:

All Seas Fisheries Corp (All Seas Fisheries Inc)

Trade Name:

All Seas Fisheries Inc

Legal Address

55 Vansco Road, Etobickoe, Ontario M8Z 5Z8

Telephone:

+1 (416) 255-3474

ID :

N/A

Fax:

+1 (416) 255-0181

Legal Form:

Corporation for Profit

Email:

info@allseas.net

Registered in:

Canada

Website:

www.allseas.net

Date Created:

1983

Manager:

Danny Soberano, CEO

Date Incorporated:

N/A

Staff:

85

Stock:

N/A

 

 

Value:

N/A

Activity:

Frozen food

 

BANKS

 

Name of the Bank

Bank Of Nova Scotia

 

BUSINESS

 

HISTORY

 

The company was created in the year 1983.

PRINCIPAL ACTIVITY

 

The company is categorized under manufacturer wholesaler and retailer of frozen products.

Products/Services description:

 

Sea foods

Fish foods

Sales are:

 

Wholesale, Retail

Clients:

 

General clientele

Various industries

Operations area:

 

National, Local

The company imports from Asia and Europe

The company does not export

Competitors:

 

Other CompaniesSea Merchants Inc

Seaborn Enterprises Ltd

St Helen Seafoods Inc

Great Coast Seafood Inc

Johnvince Foods

The subject employs 85 employee(s)

PAYMENTS

 

regular

Comments on location:

 

Our agent found another address for the subject company:

 

51 Six Point Rd, Etobicoke ON, M8Z 2X3

 

After calling the company we could confirm that this was the previous address.

Branches:

 

There were no branches found for this company.



Shareholders - Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a privately held company. Despite our long searches it has not been possible to identify the shareholders.

Management:

 

Danny Soberano, CEO

Albert Abergel, President

George Koyionis, General Operations Manager      

Kathy Chan, Controller

Anita Nahon, Assistant Controller

Marriana Dellano, Accounts Payable       

Judy Germanese, Accounts Receivable 

Jill Abergel, Accounts Receivable           

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Anita Nahon who confirmed basic information, but she refused to provide us any financial data on grounds of confidentiality.

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

2010

Turnover

41,964,500

 

 

Legal Fillings

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

 

 

Rating

 

Local credit bureau gave a correct credit rate.

 

 

 Final Opinion

 

This is a small size company with 85 employees and 28 years of experience.

 

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

 

We have contacted the company; spoke with the assistant controller; However she refused to provide us any financial information on grounds of confidentiality.

 

Our banking sources provided us with the revenue for the year 2010.

 

The company gave a good profitability for the year 2010.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

GOOD

Public

NO

Indebtedness

 

Payments

REGULAR

Cash

NORMAL

 

 

APPENDIX

 

Person Interviewed

 

Anita Nahon

Position

 

Assistant Controller

Comments

 

She confirmed basic information, but she refused to provide us any financial data on grounds of confidentiality.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.82

UK Pound

1

Rs.72.84

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.