MIRA INFORM REPORT

 

 

Report Date :

17.08.2012

 

IDENTIFICATION DETAILS

 

Name :

JORDAN RUGS LTD

 

 

Registered Office :

1470 West Broadway, Vancouver, British Columbia V6H 1H4

 

 

Country :

Canada

 

 

Date of Incorporation :

1929

 

 

Legal Form :

Corporation for Profit

 

 

LINE OF BUSINESS :

SUBJECT IS ENGAGED IN THE FLOOR COVERINGS, FINE FURNISHINGS AND INTERIOR DESIGN BUSINESS

 

 

No. of Employees :

250

 

 

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

 

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, 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 – CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: 1.00 CAD = 1.00800 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Jordan Rugs Limited

Address in the order:

1470 West Broadway Vancover BC V6H 1HY

 

 

Legal Name:

JORDAN RUGS LTD

 

 

Legal Address

1470 West Broadway, Vancouver, British Columbia V6H 1H4, Canada

Operative Address

1470 West Broadway, Vancouver, British Columbia V6H 1H4, Canada

Telephone:

+1 (604) 733-1174

ID :

NA

Fax:

+1 (604) 733-4225

Legal Form:

Corporation for Profit

Email:

solutions@jordans.ca / broadway@jordans.ca

Registered in:

Canada

Website:

http://www.jordans.ca

Date Created:

1929

Manager:

David Jordan-Knox, President

Date Incorporated:

NA

Staff:

250

Stock:

NA

 

 

Value:

NA

Activity:

Interior desingn and floor covering industry.

 

 

BANKS

 

Name of the Bank

Canadian Imperial Bank of Commerce

Name of the Bank

HSBC Bank

 

BUSINESS

 

HISTORY

 

The company was created in 1929.

PRINCIPAL ACTIVITY

 

JORDAN RUGS LTD is engaged in the floor coverings, fine furnishings and interior design business.

 

Products/Services description:

 

FINE FURNITURE. From one of a kind, hand-crafted accent tables, to large collections offering a broad array of options.

 

RUGS. Hand-knotted, all wool rugs from the finest weavers of India, China, Iran, Pakistan and Nepal.

 

FLOOR COVERING. Carpet, Area rugs, Vinyl, Hardwood, Ceramics, Laminates and Cork.

 

COMMERTIAL FURNISHING AND FLOORING. Workstations, Seatings, Filing, Ergonomics.

Sales are:

 

Retail

Clients:

 

General public

Operations area:

 

National, Local

The company imports from depending on demand

The company does not export

 

Trade References:

 

Sha

The person contacted provided us with this name. However, we were unable to find a correct contact information in order to check the trade references.

The subject employs 250 employee(s)

Comments on staff:

 

This information was confirmed by the staff.

PAYMENTS

 

made on a 30 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The company is headquartered at 1470 West Broadway, Vancouver, British Columbia V6H 1H4, Canada.

Branches:

 

The company has several locations across Canada.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company. David Jordan-Knox is the main shareholder.

Management:

 

David Jordan-Knox, President

Colleen Callaway, Controller

 

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

 

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

 

We have contacted Colleen Callaway, Controller, of the company, 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.

 

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

 

 

Currency

DATE

 

USD

2010

 

Turnover

40,243,200

 

The cash flow is

Normal

 

 

 

Comments on the financial data: As of today, JORDAN RUGS LTD’s 2011 numerical financial figures were neither released nor revealed to our sources.

The financial information provided for fiscal year 2010 was not confirmed by the staff.

Legal Fillings

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

 

 

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 subject is a medium size company.

 

It started its operations in 1929. Therefore, it has an excellent experience in its field.

 

JORDAN RUGS LTD markets floor coverings, rugs, and furnishing.

 

The company seems to have a good business structure, with several branches and affiliated companies.

 

It is well positioned in the market.

 

No specific adverse record has been found on the subject. 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

Indebtedness

N.A.

Payments

REGULAR

Cash

N.A.

 

 

 

 

APPENDIX

 

Person Interviewed

 

Colleen Callaway

Position

 

Controller

Comments

 

We have contacted this person at the company's who kindly provided us the following data:

 

Address

Employees

Creation date

General commercial info

Supplier

Shareholder

Management

Banks

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.98

UK Pound

1

Rs.87.55

Euro

1

Rs.68.68

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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.