MIRA INFORM REPORT
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Report Date : |
25.05.2011 |
IDENTIFICATION DETAILS
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Name : |
FIBRO SOURCE USA INC |
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Registered Office : |
15 Columbus Circle, New York, NY 10023-7773 |
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Country : |
United States |
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Date of Incorporation : |
19.10.1988 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Forest Products Trading Company |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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United States |
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 - UNITED STATES
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: USD |
IDENTIFICATION
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Ordered as: |
Fibro Source Usa Inc |
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Address in the order: |
989 Old Eagle School Road Suite 810 Wayne PA 19087 |
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Legal Name: |
Fibro Source Usa Inc |
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Legal Address |
15 Columbus Circle, New York, NY 10023-7773, USA (Register Agent) |
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Operative Address |
989 Old Eagle School Road, Suite 810 Wayne, PA 19087, USA. |
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Telephone: |
+1 (610) 293 - 3200 |
ID : |
1299875 |
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Fax: |
+1 (610) 293 - 9676 |
Legal Form: |
Corporation for Profit |
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Email: |
ranjitbindra@fibrosource.com |
Registered in: |
New York |
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Website: |
www.fibrosource.com (page under construction) |
Date Created: |
1988 |
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Manager: |
Gyan Jotinder S Bindra, President. |
Date Incorporated: |
October 19th, 1988 |
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Staff: |
12 |
Stock: |
250.000 |
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Value: |
$1 Par Value |
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Activity: |
Forest products trading company |
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BANKS
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Name of the Bank |
Firstrust Bank |
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Name of the Bank |
Corestates Bank |
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Name of the Bank |
First Niagara Bank |
BUSINESS
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HISTORY |
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The company was founded in 1988. |
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PRINCIPAL ACTIVITY |
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The company is categorized under trading company. Suppliers of Wood Pulp and Waste Paper. |
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Sales are: |
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Wholesale |
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Brands: |
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UNISON |
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The company imports from China, South Korea, Hong Kong |
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The company export to India, Bangladesh, Middle East |
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The subject employs 12 employee(s) |
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PAYMENTS |
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made on a 50 days basis - monitored over the last 12 months |
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LOCATION |
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Headquarters |
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The company is headquartered at 989 Old Eagle School Road, Suite 810,
Wayne, PA 19087, USA. |
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Comments on location: |
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The company is incorporated in New York. However it is headquartered
in Pennsylvania |
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Branches: |
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The company has another location in: 11545 W Bernardo Court # 2 San Diego, CA 92127-1629 |
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Shareholders - Manager - Related Companies
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Shareholders Parent Company(ies): |
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The company is privately held and has Gyan Jotinder S Bindra as the
main shareholder. |
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Management: |
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Gyan Jotinder Bindra, President Servo Bindra, Finance Controller |
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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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We have contacted the company spoke with a receptionist, but then were constantly transferred from
voicemail to voicemail. We left several messages but they haven´t called us
back. |
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Currency |
DATE |
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USD |
2008 |
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Turnover |
50,310,749 |
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The cash flow is |
Normal |
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Legal Fillings |
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There are 6 UCC files listed with the
Secretary of State of Pennsylvania. There are no legal filings listed with the
District Court. THE COMPANY IS NOT LISTED ON THE OFAC
LIST.* For information: * The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom United States citizens and permanent residents are prohibited from doing
business. ** The Uniform Commercial Code (UCC) is
one of a number of uniform acts that have been promulgated in conjunction
with efforts to harmonize the law of sales and other commercial transactions
in all 50 states within the United States of America. The UCC deals primarily with transactions
involving personal property (movable property), not real property (immovable
property). It allows a creditor to notify other creditors
about a debtor’s assets used as collateral for a secured transaction by
filing a public notice (financing statement) with a particular filing office.
The Uniform Commercial Code Bureau files
and maintains on financial obligations (including IRS liens) incurred by
individuals (in business as a sole proprietor), business entities and
corporations. |
Rating
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Local credit bureau gave a low credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
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Final Opinion |
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This is a small US company, with 12
employees and 23 years of experience. The company maintains regular commercial
relations with different countries from Asia. There were no legal filings found against
the company or its legal representatives. There was no financial information found
for the year 2010. We have contacted the company, but the
receptionist was unwilling to cooperate and kept transferring us to a voice
mail. Due to the fact that there was no
financial information found for the company. We suggest working with GUARANTEES. |
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SUMMARY
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Profitability |
LOW |
Public Records |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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APPENDIX
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Person Interviewed |
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Receptionist |
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Comments |
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We were constantly transferred from voicemail to voicemail. We left
several messages but they haven’t called us back. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.25 |
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UK Pound |
1 |
Rs.72.82 |
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Euro |
1 |
Rs.63.58 |
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 |
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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.