MIRA INFORM REPORT

 

 

Report Date :           

08.10.2011

 

IDENTIFICATION DETAILS

 

Name :

TRI-TEXCO INC

 

 

Registered Office :

3500, Boulevard De Maisonneuve Ouest, Bur. 1600, Montréal (Québec) H3z3c1

 

 

Country :

Canada

 

 

Date of Incorporation :

20.11.1995

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Manufacturer of Dyestuffs, pigments and chemical auxiliaries for textile, pulp & paper and related industries

 

 

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 :

600,000 USD.

Status :

Satisfactory

Payment Behaviour :

No Complaints

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: CAD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

TRI-TEXCO INC

 

 

Legal Address

3500, BOULEVARD DE MAISONNEUVE OUEST

BUR. 1600

MONTRÉAL (QUÉBEC) H3Z3C1

Operative Address

1001 boul. Industriel, SAINT-EUSTACHE, Quebec,J7R 6C3, CANADA

Telephone:

+1 (450) -974-10 01

Document Number :

1145260320

Fax:

+1 (450) -974- 01 62

Legal Form:

Corporation for Profit

Email:

info@tritex.com

Registered in:

Quebec

Website:

http://www.tritex.com  

Date Created:

1994

Manager:

Naim Laham

Date Incorporated:

November, 20th-1995

Staff:

200

Stock:

NA

 

 

Value:

NA

Activity:

Manufacturer of Dyestuffs, pigments and chemical auxiliaries for textile, pulp & paper and related industries

 

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

Tri-Tex co inc. manufactures and distributes chemical products around the world.

Products/Services description:

 

It offers dyes, pigments, enzymes, and auxiliary products. The company also provides surfactants and specialties, construction and floor care polymers, acrylic coatings, and adhesives and coatings.

Sales are:

 

Wholesale

Clients:

 

The textile, paper, carpet, and leather industries. It sells its products through its offices worldwide.

Operations area:

 

National, International

The company imports from Asia, USA mainly

The company export to Worldwide

Competitors:

 

Cartwright Group Ltd, The                      

Colorants de Source American Inc

The subject employs 200 employee(s)

PAYMENTS

 

made on a 45 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The company is headquartered at the above operative address. The legal address is that of the registered agent.

 




Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

129330, CANADA INC,Main shareholder

 

 

Management:

 

Naim Laham, President & Board Member

Aart Geurtsen, Vice President & Board Member

Yassin Elgarhy, Vice President & Board Member

LAHAM, PERLANTY, Secretary

LAHAM, NATALIE,Vice President

TAZA, GERARD, Manager

MANON HELIE, Accoutant

COOKE LINDA, Account Payable



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

2009

Turnover

50,000,000

The cash flow is

normal

 

 

Comments on the financial data: Turnover for 2010 follows the same trend than for 2009.

Legal Fillings

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

 

The company’s 2010 annual report was filed on 2011-07-18.



Rating

 

Local credit bureau gave a medium 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 16 years in the business of chemical products.

It is a medium sized Canadian company, evolving in a stable 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 business connection may be conducted and a credit line considered for 600,000 USD.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

CORRECT

Public

NO

Indebtedness

CONTROLLED

Payments

REGULAR

Cash

NORMAL

 

 



APPENDIX

 

Person Interviewed

 

MANON HELIE

Position

 

Accountant

Comments

 

The receptionist and the person above confirmed us the information in the report.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.14

UK Pound

1

Rs.75.97

Euro

1

Rs.65.99

 

 

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.