MIRA INFORM REPORT

 

 

Report Date :

17.07.2012

 

IDENTIFICATION DETAILS

 

Name :

OMEGA LIFT DISTRIBUTORS INC

 

 

Registered Office :

87 Simpson Road · L7E 3R6 Bolton, ONTARIO

 

 

Country :

Canada

 

 

Year of Establishment :

1986

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Omega Lift builds multi-directional forklifts.

 

 

No. of Employees :

20

 

 

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: 100.00 CAD = 98.5657 USD

Branch Situation:Stable

 

 

IDENTIFICATION

 

Legal Name:

OMEGA LIFT DISTRIBUTORS INC

 

 

Legal Address

87 Simpson Road · L7E 3R6 Bolton, ONTARIO

Operative Address

87 Simpson Road · L7E 3R6 Bolton, ONTARIO

Telephone:

+1 905-857-6456

ID :

NA

Fax:

+1 905-951-0287

Legal Form:

Corporation for Profit

Email:

info@omegalift.net

Registered in:

Canada

Website:

www.omegalift.com

Date Created:

1986

Manager:

Antonio Pannia, President

Date Incorporated:

NA

Staff:

20

Stock:

NA

 

 

Value:

NA

Activity:

Omega Lift builds multi-directional forklifts.

 

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

BUSINESS

 

HISTORY

 

It was founded in 1986.

PRINCIPAL ACTIVITY

 

Omega Lift builds multi-directional forklifts.

Products/Services description:

 

Product lines:

           

4DML Series

ARM Series

MEGA Series

HERC Series

44236 Series

2X Series

ALPHA Series

UG Series

GSA/Military

Sales are:

 

Wholesale

Brands:

 

Omega Lift

Clients:

 

Professionals of the industry

Suppliers:

 

The person contacted refused to provide the name of the suppliers for us to check trade references.

Operations area:

 

National, International

The company exports to Worldwide, depending on the demand.

The subject employs 20 employee(s)

Comments on staff:

 

The staff number was not confirmed by the company.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at: 87 Simpson Rd

Bolton, ON L7E 3R6, Canada

Branches:

 

No branches have been found.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company owned by the Pannia family.

Management:

 

Antonio Pannia, President and board member

Greg Pannia, Board Member

 

 

 

 

 

 

 

 

 

 

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

 

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

 

We have contacted a female representative who refused to provide us any financial data on grounds of confidentiality.

 

 

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.

 

 

Comments on the financial data: Our financial sources informed that annual sales would be around CAD 3,000,000.-

 

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 employs 20 people.

 

It has 26 years of experience in the market.

 

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

 

Omega Lift builds multi-directional forklifts and it has international relations.

 

The income per employee is pretty fair for the company's size.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Position

 

Female representative

Comments

 

The person contacted refused to provide us any data on grounds of confidentiality.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.92

UK Pound

1

Rs.85.47

Euro

1

Rs.67.15

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.