MIRA INFORM REPORT

 

 

Report Date :           

09.01.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

IREX CANADA TRADING INC (TAPIS D ORIENT)

 

 

Registered Office :

1440 Bathurst St Suite 101, Toronto, Ontario M5R 3J3

 

 

Country :

Canada

 

 

Year of Establishment :

1992

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Carpet Distributor.

 

 

No. of Employees :

8

 

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 15,000

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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   =   97.6436 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

IREX CANADA TRADING INC (TAPIS D ORIENT)

Trade Name:

TAPIS D ORIENT

 

Legal Address

1440 Bathurst St Suite 101, Toronto, Ontario M5R 3J3, Canada.

 

Operative Address

1440 Bathurst St Suite 101, Toronto, Ontario M5R 3J3, Canada.

 

Telephone:

+1 (416) 658-7518

ID :

N/A

Fax:

+1 (416) 658-0022

Legal Form:

Corporation for Profit

Email:

info@tapisdorient.ca

Registered in:

Canada

Website:

http://www.tapisdorient.c a

Date Created:

1992

Manager:

Bijan Dehghan, President.

Date Incorporated:

N/A

Staff:

8

Stock:

N/A

 

 

Value:

N/A

Activity:

Carpet Distributor.

 

 

BANKS

 

Name of the Bank

Td Canada Trust

Location                                   

510 Glencairn Ave, Toronto, Ontario, M6b 1z1 Canada

Account Number

0522 5002176

 

 

BUSINESS

 

HISTORY

 

The company was created in 1992.

PRINCIPAL ACTIVITY

 

The company engages as a hand knotted carpet distributor.

Products/Services description:

 

The company offers the following kind of carpets:

Antique 

Old World 

Haji Jalili 

European 

Tibet 

Persian Wool & Silk 

Gabbeh 

Tapestry 

Traditional 

Tribal 

 

Sales are:

 

Wholesale.

Clients:

 

Professionals of the industry.

Operations area:

 

National.

The company imports from Asia.

The subject employs 8 employees.

 

 

PAYMENTS

 

Made on a 90 days basis - monitored over the last 12 months.

LOCATION

Headquarters

 

The company is headquartered at:

1440 Bathurst St Suite 101, Toronto, Ontario M5R 3J3, 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. Mr. Bijan Dehghan is the main shareholder.

Management:

 

Bijan Dehghan, President.



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Mr. Bijan Dehghan, President, who provided us with the following data:

 

 

 

 

Currency

DATE

 

 

USD

2010

 

 

Turnover

1,000,000

 

 

The cash flow is

NORMAL

 

 

 

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 in business since 1991.

 

The company is active and doing business.

 

There is no detrimental legal or labor information filed against the company within the district court.

 

The company is a supplier of hand knotted carpets from Asia and it is operated by its owner for the Canadian Market. It is a stable sector.

 

The financial information for 2010 shows that the company has an normal performance in the industry. The annual revenue is in the range of average according to its size and amount of employees.

 

A credit line may be considered for USD 15,000

 

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Mr. Bijan Dehghan.

Position

 

President.

Comments

 

The contacted person provided us with: company's name, location, activity, products, management staff, shareholding, number of employees, creation date, payment trend to the suppliers, operating bank, revenue for 2010, import/export information.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.78

UK Pound

1

Rs.81.79

Euro

1

Rs.67.46

 

 

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.