MIRA INFORM REPORT

 

Report Date :           

16.04.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

MIG HOLDING INC (MONTROSE INTERNATIONAL GROUP)

 

 

Registered Office :

156 Reynolds Street, Oakville, Ontario L6J 3K9 (not verified)

 

 

Country :

Canada

 

 

Year of Establishment :

1990

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Grocery and Related Products Merchant Wholesalers

 

 

No. of Employees :

07

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 20,000

 

 

Status :

Small Company 

 

 

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, 2012

 

Country Name

Previous Rating

                   (31.12.2011)                  

Current Rating

(31.03.2012)

Canada

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

GEOPOLITICS

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: 100.00 CAD   =   100.170 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Montrose International Group

Address in the order:

Div of MIG Holdings Inc

Renolds Street Oakville Ontario L6J 3K9

 

Comments on data supplied:

Dear Client, the name provided in the order is that of the company's trade name.

 

Legal Name:

MIG HOLDING INC (MONTROSE INTERNATIONAL GROUP)

 

Trade Name:

MONTROSE INTERNATIONAL GROUP

 

Legal Address

156 Reynolds Street, Oakville, Ontario L6J 3K9, Canada. (not verified)

 

Operative Address

156 Reynolds Street, Oakville, Ontario L6J 3K9, Canada.

Telephone:

+1 905 339 0229

ID :

N/A

Fax:

+1 905 339 0576

Legal Form:

Limited Company

Email:

lourdes@migcanada.com

Registered in:

Canada

Website:

N/A

Date Created:

1990

Manager:

Manik Veerakumar, President.

Date Incorporated:

N/A

Staff:

7

Stock:

N/A

 

 

Value:

N/A

Activity:

Grocery and Related Products Merchant Wholesalers

 

 

BANKS

 

Name of the Bank

ROYAL BANK OF CANADA

BUSINESS

 

HISTORY

 

The company was established in 1990.

PRINCIPAL ACTIVITY

 

The company engages as a Grocery and Related Products Merchant Wholesalers

 

Products/Services description:

 

The company offers: Gherkins, Pickles, Preserves, Jellies, and Jams

Sales are:

 

Wholesale

Clients:

 

Profesionals of the industry.

Suppliers:

 

*Bavani Agriculture Products (P) Ltd.

2/312, Krishnapuram Keelavallanadu Village, Pudupatti Post, Tamil Nadu, India.

Operations area:

 

National

The company imports from India.

The company does not export.

The subject employs 7 employee(s)

Comments on staff:

 

The staff number was not verified by the company. It was provided by outside sources.

 

 

 

PAYMENTS

 

Regular.

LOCATION

Headquarters

 

The company is headquartered at: 156 Reynolds Street, Oakville, Ontario L6J 3K9, Canada.

Branches:

 

The company does not present any branches.



Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company. The main shareholder is Mr. Manik Veerakumar.

 

Management:

 

Mr. Manik Veerakumar, President and Board Member.

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

We have contacted Ms. Lourdes, Representative, who refused to provide us any financial data without knowing the name of the inquiring party.

 

However our financial sources could provide us with the following data.

 

Comments on the financial data: Our consulted sources indicate that the company's annual revenue for 2010 is in the range between CAD $5 million to CAD $10 million.

Please notice that due to the fact that the company is involved in trading, its own income may be 8 to 10 times less than its volume of transactions.

Legal Fillings

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

 

 

Rating

 

Local credit bureau gave a NORMAL credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

This is a small sized Canadian company which has been operating since 1990.

 

The company is active and doing business. There is no detrimental information filed against the company within the district court.

 

The company's structure is small but seems to be solid. It comprises one location in Ontario, Canada, and a workforce estimated in 7 employees.

 

The financial information for 2010 indicates that the company has a normal performance in the market.

 

Having all in consideration, a credit line may be considered for USD 20,000

 



summary

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public Records

NO

Indebtedness

N.A.

Payments

REGULAR

Cash

NORMAL

 

 

 

 

APPENDIX

 

Person Interviewed

 

Ms. Lourdes

Position

 

Representative

Comments

 

The contacted person refused to provide information without knowing the name of the inquiring party.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.42

UK Pound

1

Rs.81.93

Euro

1

Rs.67.67

 

 

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.