MIRA
INFORM REPORT
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Report Date : |
29.03.2011 |
IDENTIFICATION DETAILS
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Name : |
WR DAVIS ENGINEERING LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.06.1988 |
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Com. Reg. No.: |
ON-0000779055 |
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Legal Form : |
Limited Company |
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Line of Business : |
High technology defense company |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
300,000 USD |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
GEOPOLITICS –
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: 100 CAD = 102.55 USD |
IDENTIFICATION
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Legal Name: |
WR Davis Engineering Ltd |
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Trade Name: |
Davis, WR Engineering Limited - Davis |
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Legal Address |
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Operative Address |
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Telephone: |
+1 613-748-5500 |
Registration Number : |
ON-0000779055 |
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Fax: |
+1 613-748-3972 |
Legal Form: |
Limited Company |
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Email: |
Registered in: |
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Website: |
www.wrdavis.com |
Date Created: |
1975 |
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Manager: |
Willard Roland (Rolly) |
Date Incorporated: |
June 1, 1988 |
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Staff: |
150 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
High technology defense company |
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BANKS
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Name of the Bank |
HSBC Bank |
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Location |
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BUSINESS
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HISTORY |
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The company was established in 1975. |
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PRINCIPAL ACTIVITY |
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WR Davis Engineering Limited is a high technology defense company. In the naval area, it provides IR signature management products and services,
complete engine intake and exhaust systems, engine exhaust plume cooling
systems, and underwater electromagnetic signature management products and
services. It also performs scale engine inlet and exhaust testing. In the aerospace area it designs and supplies engine exhaust IR
signature suppression devices for both fixed and rotary wing aircraft, and it
designs and fabricates stainless steel and Titanium potable water tanks. |
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Sales are: |
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Wholesale |
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Clients: |
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Clients are professionals of the industry. |
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The subject employs 150 employee(s) |
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LOCATION |
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Headquarters |
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Branches: |
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The company does not have any branches. |
Shareholders - Manager - Related Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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The company is privately held. Mr. Willard Roland Davis is one of the shareholders. |
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Management: |
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Mr. Willard Roland Davis - President |
Financials - COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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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. |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
27,560,000 |
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Currency |
DATE |
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CAD |
2008 |
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Turnover |
24,300,000 |
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Operating
Income |
84,000 |
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Net
Income |
63,000 |
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Net
worth |
1,500,000 |
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Bank
liabilities |
300,000 |
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The
cash flow is |
correct |
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Legal Fillings |
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The sources consulted record no
detrimental legal or labor court information. 0 Suits . 0 Judgments 0 Liens 0 Collection Claims Reported 0 NSF Cheques Reported 1 PPSA Filing in 2008 by Porsche Financial Services Canada securing
Goods, Chattels. Amount: $101,000 1 PPSA Filing in 2008 by HSBC Bank 1 PPSA Filing in 2008 by VW Credit Canada Inc securing Equipment.
Amount: $100,000 All previous PPSA filings have been cleared. |
Rating
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Local credit bureau gave a correct credit rate. |
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Final Opinion |
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The subject has 36 years experience in the business. It is a medium size company. No adverse record has been found. A credit line may be considered. |
SUMMARY
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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ADVISED CREDIT |
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300,000 USD |
APPENDIX
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Comments |
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We left a message to the accounting department, but as of today nobody
has returned our call. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.78 |
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1 |
Rs.71.64 |
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Euro |
1 |
Rs.62.96 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.