MIRA INFORM REPORT

Report Date :

14.09.2011

IDENTIFICATION DETAILS

Name :	JAZZ FOREST PRODUCTS (2004) LTD

Registered Office :	34261 Industrial Way, Abbotsford, BC V2S 7M6

Country :	Canada

Year of Establishment :	1998

Com. Reg. No.:	Not Available

Legal Form :	Limited Liability Company

Line of Business :	manufacturer of softwood products from Douglas fir, Hemlock, cedar and SPF. –Green, K/D, and ACQ.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 30,000
Status :	Moderate
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 31^st, 2011

Country Name

Previous Rating

(31.12.2010)

Current Rating

(31.03.2011)

Canada

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Bottom of Form

GEOPOLITICS – CANADA

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal

Economic Risk: Nil

Currency: USD 100 = CAD 99.03

Branch Situation: Stable

IDENTIFICATION

Ordered as:	Jazz Forest Products (2004) Ltd
Address in the order:	34261 Industrial Way Abbotsford B.C. V2 S 7M6

Legal Name:	Jazz Forest Products (2004) Ltd
Trade Name:	Jazz Forest Products Ltd JFP
Legal Address	34261 Industrial Way Abbotsford, BC V2S 7M6, Canada
Operative Address	34261 Industrial Way Abbotsford, BC V2S 7M6, Canada
Telephone:	(604) 850-9322	Registration number :	NA
Fax:	(604) 850-9356	Legal Form:	Limited Liability Company
Email:	manjit@jazzforest.ca	Registered in:	Canada
Website:	http://jazzforest.ca	Date Created:	1998
Manager:	Jaswant Bining Director	Date Incorporated:	2004
Staff:	10	Stock:	NA
		Value:	NA
Activity:	Lumber: Rough, Sawed, or Planed

BANKS

Name of the Bank

TD Bank

BUSINESS

HISTORY
	The company operates since 1998, in Canada. It was first created as Jazz Forest Products Ltd. In 2004, they changed the name by creating Jazz Forest Products (2004) Ltd, that took over the operations of Jazz Forest Products Ltd, with the same ownership. The person contacted informed us that Jazz Forest Products Ltd. is still registered, but does no longer have any activity. He however was not able to tell us the reason for the change of name.
PRINCIPAL ACTIVITY
	Jazz Forest Products JFP is a softwood professional supplier in Abbotsford, B.C. JFP manufactures a wide range of softwood products from Douglas fir, Hemlock, cedar and SPF. –Green, K/D, and ACQ. Jazz Forest upholds the highest standards to ensure quality while maintaining a commitment to the health and integrity of our forests and our environment and also on-time delivery to offer utmost service to our clients.
Products/Services description:
	PRODUCTS Hem-Fir SPF D Fir WesternRedCedar ACQ Alkaline Copper Quaternary
Sales are:
	Wholesale
Operations area:
	National
The company export to Europe ,Australia, Kire, China,Taiwan, India, North America
Trade References:
	Despite our efforts we were unable to confirm any trade reference for this company.
The subject employs 10 employee(s)
Comments on staff:
	We found through external sources that the company would have 51 to 100 employees. The person contacted refused to confirm those figures.
PAYMENTS
	regular
Comments on location:
	Single location

Shareholders - Manager - Related Companies

Shareholders Parent Company(ies):
	The Binnging Family owns the company.
Management:
	Managing/director Jas Binning Bruce Cameron , sales manager John Wu , sales manager Sunny Binning, sales manager custom processing/maintenance manager Manjit Binning,

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	2,000,000.

Legal Fillings
The sources consulted record no detrimental legal or labor court information.
Final Opinion
	Jazz Forest Products (2004) Ltd, Is a small Canadian company with 10 employees. The company was created in 1998, and established in Abbotsford British Columbia, Canada. The company works an exporter of softwood. The turn over of the company is good for its size. We did not find any adverse situation for this company during our investigation. We were unable to confirm the company’s size by the staff, therefore we suggest monitoring during the length of the debt, to review the company’s evolution. We suggest a credit line of USD 30,000.

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	N.A.	Public	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Comments
	The person contacted confirmed the operation address; he did not give more information in grounds of confidentiality.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.47.10
UK Pound	1	Rs.74.64
Euro	1	Rs.64.42

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%)

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