MIRA INFORM REPORT

 

 

Report Date :

04.05.2011

 

IDENTIFICATION DETAILS

 

Name :

AVENTECH INTERNATIONAL INC

 

 

Registered Office :

850 Pierre-Bertrand, suite 185, Québec (Province of Québec) G1M 3K8

 

 

Country :

Canada

 

 

Date of Incorporation :

09.01.2008

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Steel trading company

 

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 :

150 000 USD

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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

 

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

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 CAD = 105 USD

Branch Situation:Growing

 

 

IDENTIFICATION

 

Legal Name:

AVENTECH INTERNATIONAL INC

 

 

Legal Address

850 Pierre-Bertrand, suite 185,

Québec (Province of Québec) G1M 3K8, CANADA

 

 

 

Telephone:

+1 418 683 8963

Document Number :

1164915523

Fax:

+1 418 683 0862

Legal Form:

Corporation for Profit

Email:

aventech@videotron.ca

Registered in:

Quebec

Website:

http://www.aventech.qc.ca

Date Created:

January 9, 2008

Manager:

RANCOURT, PIERRE

Date Incorporated:

January 21, 2008

Staff:

4

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Steel trading company

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BANKS

 

Name of the Bank

BANK OF MONTREAL

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

It operates as an international steel trading company.

Products/Services description:

 

It trades secondary and primary quality round and square steel billets, wire rods, rebars, HMS1, HMS2, shredded steel scrap.

Sales are:

 

Wholesale

Clients:

 

Steel and manufacturing companies

Suppliers:

 

Canadian steel mills

Operations area:

 

International

The company does not import

The company export to worldwide.

Trade References:

 

The person contacted refused to provide the names of their suppliers for us to check the trade references.

Competitors:

 

Camia Trade Inc M        

CEL Trillium Trade Inc   

Trade Metals Group Inc

The subject employs 4 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered and single located at the above address.

 

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Management:

 

RANCOURT, PIERRE, President

Caroline Drolet, Sales manager

 

 

 

 

 

 

 

 

 

 

 

 

 

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):

 

Currency

DATE

 

USD

2010

 

Turnover

9 580 000

 

Net Income

220 000

 

Net worth

460 000

 

The cash flow is

normal

 

 

 

 

Currency

DATE

USD

2008

Turnover

1,900,000

The cash flow is

NORMAL




 




Legal Fillings

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

The last annual report was filed on August 27, 2010.

 

 

 

 

 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

 

The company has 2 years in the business.

It is a small sized Canadian company, evolving in a growing sector.

Profitability is correct, indebtedness is controlled, cash is normal and payments are regular.

We did not find a specific adverse record against the subject.

A credit line may be considered for 150 000 USD.

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

CORRECT

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 



APPENDIX

 

Person Interviewed

 

Caroline Drolet

Position

 

Sales manager

Comments

 

She confirmed us some information but asked to send a fax for financial and commercial data; an answer has not been received yet.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.34

UK Pound

1

Rs.73.69

Euro

1

Rs.65.75

 

 

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.