MIRA INFORM REPORT

 

 

Report Date :

04.05.2011

 

IDENTIFICATION DETAILS

 

Name :

LES TISSUS SALETEX LIMITEE

 

 

Registered Office :

160 montée de Liesse Montréal (Québec) H4T1N6

 

 

Country :

Canada

 

 

Date of Incorporation :

19.01.1977

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesalers of fabrics & Decorative products

 

 

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 :

60 000 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:Medium

 

 

IDENTIFICATION

 

Comments on data supplied:

The correct name is LES TISSUS SALETEX LIMITÉE.

Legal Name:

LES TISSUS SALETEX LIMITEE

Trade Name:

SALETEX FABRICS LIMITED

Legal Address

160 montée de Liesse

Montréal (Québec) H4T1N6

Canada

 

 

Telephone:

+1 514-334-7533

Document Number :

1143226646

Fax:

+1 514-745-1394

Legal Form:

Limited Company

Email:

info@saletex.com

Registered in:

Quebec

Website:

www.saletex.com

Date Created:

January 19, 1977

Manager:

SALEM, ROLAND

Date Incorporated:

March 4, 1995

Staff:

20

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Wholesalers of fabrics & Decorative products

 

 

 

 

 

 

 

 

 

 

 

 

 

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Saletex is a supplier of draperies, home furnishings, lace, sheers, jaquards, prints, upholstery fabrics, vertical blinds, and bedspreads.

Sales are:

 

Wholesale, Retail

Clients:

 

Home furnishings retailers and final customers.

Operations area:

 

National, Local

The company imports from Spain, Germany, Austria, France, Sweden, the U.K. and Italy

The company does not export

Trade References:

 

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

The subject employs 20 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

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

Comments on location:

 

A showroom is also present at the same address.

 



Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Management:

 

SALEM, ROLAND, president

 

 

 

 

 

 

 

 

 

 

 

 

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.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

 

USD

2010

 

Turnover

3 770 000

 

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 September 28, 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 34 years in the business.

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

Profitability is correct, 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 60 000 USD.

 

 

 

SUMMARY


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

CORRECT

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

NORMAL

 

 

 




APPENDIX

 

Person Interviewed

 

Roland Salem

Position

 

President

Comments

 

He refused to provide us with any information by phone without knowing the name of the inquiring party. An email has been sent to info@saletex.com but 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.