MIRA INFORM REPORT

 

 

Report Date :           

24.06.2011

 

IDENTIFICATION DETAILS

 

Name :

EUROLINE LTD (RAY S IMPORTS LTD)

 

 

Registered Office :

17, Blue Forest Drive, Grimsby, ON L3M 4R4

 

 

Country :

Canada

 

 

Year of Establishment :

1973

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Giftwares Wholesaler.

 

 

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 15,000

 

 

Status :

Small Company 

 

 

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



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:

Euroline

Address in the order:

17, Blue Forest Drive, Grimsby, ON L3M 4R4

Legal Name:

Euroline Ltd (Ray s imports Ltd)

Trade Name:

Ray's imports Ltd

Legal Address

17, Blue Forest Drive, Grimsby, ON L3M 4R4

Telephone:

+1 (905) 309-6663

ID :

N/A

Fax:

+1 (905)309-6664

Legal Form:

Limited Company

Email:

info@eurolineltd.com

Registered in:

Canada

Website:

www.eurolineltd.com

Date Created:

1973

Manager:

Mike Reese, President

Date Incorporated:

N/A

Staff:

8

Stock:

N/A

 

 

Value:

N/A

Activity:

Giftwares Wholesaler.

 

 

BANKS

 

Name of the Bank

Royal Bank Of Canada

 

 

BUSINESS

 

HISTORY

 

The company was created in the year 1973.

 

PRINCIPAL ACTIVITY

 

This company operates as an importer and distribution of fine Polish glass and metal décor .

Products/Services description:

 

Frosted Glass Votive

Baby Gift Baskets

Specialty Gift Baskets

Redneck Gift Baskets

Scented Votives.

Among others.

Sales are:

 

Wholesale

Clients:

 

Retail stores

Other related industries

Operations area:

 

National, International, Local

The company imports from Poland, Sri Lanka, China, Vietnam, and the Philippines

The company export to US

Competitors:

 

Sun & Co Inc

Grand Imex Canada Corporation

Bronte Harbour Trading Company

Celestial Sales Agency Inc

Jewells Keeping Room

The subject employs 8 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at 17 Blue Forest Dr Grimsby, ON L3M 4R4 Canada.

Comments on location:

 

We asked the agent about the US address located in its webpage:

 

40 Sonwill Drive

Cheektowaga, New York

14225

 

However the person we talked to stated that address was just for travelling. The only legal address for the company is the one listed on this report.

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:

 

Mike Reese, President

Florette Borejsza, Secretary Treasurer and board member.



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Sue who provided us with relevant information. However 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

1,046,382

 

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 medium size company with 8 employees and 38 of experience.

 

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

 

 

We've contacted the company and the representative kindly helped us with relevant information, however she refused to provide us any financial information per security purposes.

 

The company gave a medium profitability for the year 2010.

 

At this point considering the company's experience a credit line may be considered for  USD 15,000



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

MEDIUM

Public

NO

Indebtedness

 

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Person Interviewed

 

Sue

Position

 

Representative

Comments

 

She kindly confirmed relevant information such as the bank that they worked with, and the company's actual address, compared to the one showed on its website.

 

However she refused to provide us any financial information on grounds of confidentiality.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.93

UK Pound

1

Rs.72.09

Euro

1

Rs.64.21

 

 

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.