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Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
AQUA-LUNG CANADA LTD |
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Registered Office : |
Unit E, |
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Country : |
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Date of Incorporation : |
20.07.1990 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
imports and markets diving equipment. |
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No. of Employees : |
13 employees |
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 |
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Payment Behaviour : |
No Complaints |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Canada |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
canada - ECONOMIC OVERVIEW
As an affluent,
high-tech industrial society in the trillion-dollar class, Canada resembles the
US in its market-oriented economic system, pattern of production, and affluent
living standards. Since World War II, the impressive growth of the
manufacturing, mining, and service sectors has transformed the nation from a
largely rural economy into one primarily industrial and urban. The 1989
US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade
Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in
trade and economic integration with the US its principal trading partner.
Canada enjoys a substantial trade surplus with the US, which absorbs about
three-fourths of Canadian exports each year. Canada is the US's largest foreign
supplier of energy, including oil, gas, uranium, and electric power. Given its
great natural resources, highly skilled labor force, and modern capital plant,
Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the
global economic crisis, the economy dropped into a sharp recession in the final
months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12
years of surplus. Canada''s major banks, however, emerged from the financial
crisis of 2008-09 among the strongest in the world, owing to the financial
sector''s tradition of conservative lending practices and strong
capitalization. Canada achieved marginal growth in 2010 and 2011 and plans to
balance the budget by 2015. In addition, the country''s petroleum sector is
rapidly becoming an even larger economic driver with Alberta''s oil sands
significantly boosting Canada''s proven oil reserves, ranking the country third
in the world behind Saudi Arabia and Venezuela.
|
Source : CIA |
Company name: AQUA-LUNG
CANADA LTD (in English)
AQUA-LUNG CANADA LTEE (in French)
Address: Unit E, 2200 Keating Cross Rd.
Saanichton, British Columbia V8M 2A6 - Canada
Telephone: +1
250-652-5881
Fax: -
Website: www.aqualing.com/ca
Corporate ID#: 0002623340
State: Federal
Judicial form: Federal
Corporation – Profit
(A
Federal Corporation is allowed to do business in all the Country)
Date incorporated: 07-20-1990
Stock: -
Value: -
Name of manager: -
Business:
Founded by Jacques-Yves Cousteau and Emille Gagnan, Aqua Lung is one of
the leading manufacturers of aquatic equipment.
Aqua Lung Canada imports and markets diving equipment.
It offers diving boots and gloves; knives, gear bags, and accessories;
diving instruments, including wrist-top computers and field compasses; sport
diving equipment, such as compact sets, dry snorkels, fins, and underwater
cameras; diving masks, snorkels, and accessories for snorkeling and water sport
activities; swim equipment; and paddling gears, life vests, and dry wear
garments.
The company also provides open circuit diving equipment, such as
regulators, buoyancy compensators, analog and digital gauges, and accessories
for the military users; surface, tactical, water rescue, and SAR swimmer
equipment, such as life vests and mission-configured emergency breathing
systems; closed circuit diving equipment, such as lifejackets, and weight
integrated and load bearing harnesses; and aviation life support equipment,
such as emergency breathing systems for helicopter egress by the pilot, crew,
and passengers, as well as over-water survival equipment. In addition, it
offers wetsuits and apparel. The company serves various stores in Canada.
Suppliers
include:
TECHNISUB S.P.A.
Via Gualco, 42 Genova, 16165 – Italy
A Free Spirit Co. Sdn. Bhd
Penang, Malaysia
Staff: 13
Operations & branches:
At the headquarters, we
find a warehouse and office, on lease.
Shareholders:
This is a private Company.
Management:
Directors include:
- John GARDNER
- Stephen MURNANE
As far as we know, they are not involved in other local corporations.
Subsidiaries
And partnership:
None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, nobody
was available to answer our questions.
We sent an email but no
answer received.
Outside sources (bank) gave
estimate sales for year 2011 in the range of
CAD 2,500,000=
The business is said to be
profitable.
Banks: Scotiabank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.20 |
|
UK Pound |
1 |
Rs.86.99 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.