MIRA INFORM REPORT

Report Date :

23.02.2012

IDENTIFICATION DETAILS

Name :	MB PRODUCT RESEARCH DISTRIBUTING INC

Registered Office :	270 Pennsylvania Ave Units 11-13 CONCORD, Ontario L4K 3Z7

Country :	Canada

Year of Establishment :	1980

Legal Form :	Corporation for Profit

Line of Business :	Fish and Seafood Product Wholesaler-Distributors

No. of Employees :	22

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 200,000.
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 – September 30, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Canada

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 GovernmentGOVERNMENT	Federal	Currency	100.00 CAD = 99.9171 USD
Economic Risk	Nil	Branch Situation	Stable

IDENTIFICATION

Comments on data supplied:

Please note that there was a spelling mistake on the company name you provided, as the subject's actual name is MB Product Research Distributing Inc. That is why we proceed on making the report under that company name.

Legal Name:

MB Product Research Distributing Inc

Legal Address:

270 Pennsylvania Ave Units 11-13 CONCORD, Ontario L4K 3Z7 Canada.
Operative Address:	270 Pennsylvania Ave Units 11-13 CONCORD, Ontario L4K 3Z7 Canada.

Telephone:

+1 (905) 660-1421

ID:

Fax:

+1 (905) 660-0705

Legal Form:

Corporation for Profit

Email:

info@mbproductsgroup.com

Registerd In:

Canada

Website:

www.intercanadafisheries.com

Date Created:

1980

Manager:

Marc Benhaim, President

Date Incorporated

Staff:

Stock:

Value:

Activity:

Fish and Seafood Product Wholesaler-Distributors

BUSINESS

HISTORY:
	This company was founded in 1980.
PRINCIPAL ACTIVITY:
	MB Product Research Distributing Inc is a private company engaged in the import, export, and distribution of fresh and frozen fish and seafood. The subject operates through three different divisions: -Inter-Canada Fisheries Inter-Canada Fisheries; It specializes in the distribution of fresh and frozen fish and seafood to the North American market -Ocean Harvest Fisheries Ocean Harvest Fisheries is engaged in the North American distribution of frozen scampi, lobster, black cod, and snapper. -Seven Blue Seas Fisheries Seven Blue Seas Fisheries, supplies the local Asian market mostly with fresh products, such as salmon, tuna, snapper, grouper, tilapia, as well as some frozen products.
Products/Services description:
	The company offers seafood products such as salmon, groupers, tuna, seabass, octopus, squid, cuttlefish among others.
Sales are:
	Wholesale
Clients:
	various industries
Operations area:
	National,InterNational,Local

The company imports from Worldwide.
The company export to Worldwide depending on the demand.

Trade References :
	The person contacted refused to provide the names of their suppliers on grounds of confidentiality.

The subject employs 22 employee(s)

Comments on staff:
	This information was not verified.
Payments :
	regular
LOCATION :

Headquarters:
	The company is headquartered at 270 Pennsylvania Ave Units 11-13 CONCORD, Ontario L4K 3Z7 Canada.
Branches:
	There were no branches found for this company. This information was not confirmed with the staff.

Shareholders - Manager - Related Companies


Shareholders Parent Company(ies):
	This is a privately held company. Despite our long searches it has not been possible to identify the shareholders.
Management:
	Marc Benhaim, President
Related Companies:
	The company has a second corporation which is engaged in the direct trade of fish and seafood products to foreign markets. United General Products Inc. Phone: 905-660-1421 Fax: 905-660-1426 Contact: Marc Benhaim E-Mail: unitedgeneral@mbproductsgroup.com

Financials - COMMERCIAL TRENDS AND FORECAST

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

We have contacted a male 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	20,301,600
The cash flow is Normal

Comments on the financial data : The financial data was not confirmed when we called the company.

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:

This is a medium sized company with about 22 employees and 32 years of experience.

The subject evolves in the trade and distribution of seafood products.

There were no legal flings found against the company or its legal representatives.

Regarding the financial data obtained through our external sources, the income per employee is pretty good for its size.

Consequently, based on the information analyzed.

A credit line may be considered for USD 200,000.

SUMMARY

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

APPENDIX
Person Interviewed:
	Male representative
Comments:
	The person contacted was unwilling to cooprate as the name of the inquiring party could not be disclosed during the call.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.24
UK Pound	1	Rs.76.75
Euro	1	Rs.65.16

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.