MIRA INFORM REPORT

 

 

Report Date :

05.07.2012

 

IDENTIFICATION DETAILS

 

Name :

WOVEN CONCEPT INC (WOVEN CONCEPT RUG GALLERY)

 

 

Registered Office :

Dorval Crossing East, 230 North Service Road, West, Oakville ON L6M2Y4

 

 

Country :

Canada

 

 

Date of Incorporation :

June 2005

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

The company markets rugs.

 

 

No. of Employees :

Less than 50 people

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate 

 

 

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 = 0.987444 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Woven Concepts

Address in the order:

canada

Comments on data supplied:

Please take note the name provided in the order is not complete. Its legal name is listed below.

Legal Name:

WOVEN CONCEPT INC (WOVEN CONCEPT RUG GALLERY)

Trade Name:

WOVEN CONCEPT RUG GALLERY

Legal Address

Dorval Crossing East, 230 North Service Road, West, Oakville ON L6M2Y4, Canada

Operative Address

Dorval Crossing East, 230 North Service Road, West, Oakville ON L6M2Y4, Canada

Telephone:

+1 (905) 337-1010

ID :

NA

Fax:

+1 (866) 409-3816

Legal Form:

Corporation for Profit

Email:

wovenconcept@bellnet.ca 

Registered in:

Canada

Website:

http://www.wovenconcept.com/

Date Created:

June 2005

Manager:

Fraz Khan, President and Director

Date Incorporated:

NA

Staff:

Less than 50 people

Stock:

NA

 

 

Value:

NA

Activity:

The company markets rugs.

 

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

 

BUSINESS

 

HISTORY

 

The company was created in Canada in 2005.

PRINCIPAL ACTIVITY

 

The company provides rugs and carpets.

 

It offers Transitional and Contemporary designs.

Products/Services description:

 

The company provides rugs and carpets. It offers the following types:

Hand knotted - Traditional

Hand knotted - Contemporary

Hand knotted - New era

Machine Made - Traditional

Machine Made - Contemporary

Machine made - New era

 

Also, it has the following services:

Cleaning

Rug Repair

Rug Appraisals

Stair Runners Installation

Sales are:

 

Wholesale, Retail

Clients:

 

Miscellaneous

Operations area:

 

National, Local

The company imports from Pakistan and other countries depending on demand

Trade References:

 

We couldn’t contact a person at the company’s to provide us the trade references.

 

The subject employs Less than 50 people employee(s)

Comments on staff:

 

This information was not confirmed by the staff.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at Dorval Crossing East, 230 North Service Road, West, Oakville ON L6M2Y4, Canada.

Branches:

 

The company has the following branches:

 

1200 Brant Street Unit #13

Burlington ON L7P5C6

Tel: 905-319-3535

Fax: 905-319-0457

 

Unit 443, 3310 Eighth Street East

Saskatoon, SK S7H 5M3

Tel: 306-668-3535

Fax: 306-668-3522

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company. Fraz Khan is the main shareholder.

Management:

 

Fraz Khan, President and Director

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

 

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

 

We have contacted the business but we were directed to a general voicemail. We left a message.

 

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

 

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 small size company.

 

It started its operations in 2005. Therefore, it has a good experience in its field.

 

WOVEN CONCEPT INC is doing business as WOVEN CONCEPT RUG GALLERY. It offers rugs and carpets.

 

It seems to have an adequate business structure, with a few branches.

 

Also, it is well known in the local 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

 

Comments

 

We have contacted the business but we were transferred to a general voicemail. We left them a message but no one has replied it yet.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.55

UK Pound

1

Rs.85.47

Euro

1

Rs.68.70

 

 

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.