MIRA INFORM REPORT

 

 

Report Date :

21.07.2012

 

IDENTIFICATION DETAILS

 

Name :

PURSIAN RUG GALLERY INC

 

 

Registered Office :

2273 Dundas St West Unit 10, Mississauga, Ontario L5K 2L8

 

 

Country :

Canada

 

 

Year of Establishment :

2009

 

 

Legal Form :

Corporation for Profit

 

 

LINE OF BUSINESS :

IT MARKETS FLOOR COVERINGS

 

 

No. of Employees :

3

 

 

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 = 0.991978 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

PURSIAN RUG GALLERY INC

 

 

Legal Address

2273 Dundas St West Unit 10, Mississauga, Ontario L5K 2L8, Canada

Operative Address

2273 Dundas St West Unit 10, Mississauga, Ontario L5K 2L8, Canada

Telephone:

+1 (905) 607-4019

ID :

NA

Fax:

+1 (905) 607-4019

Legal Form:

Corporation for Profit

Email:

NA

Registered in:

Canada

Website:

http://www.prrugs.ca/ (Not working)

Date Created:

2009

Manager:

Shahbaz Tahir, President

Date Incorporated:

NA

Staff:

3

Stock:

NA

 

 

Value:

NA

Activity:

It markets floor coverings.

 

 

BANKS

 

Name of the Bank

The canada trust bank Financial Group (TD Bank)

Location                                   

1315 The Queensway Atkipling, Etobicoke, Ontario M8Z 158

Account Number

17282 0040587 5228462

Comments

We have contacted this banking institution at +1 416-259-9281. However, we were unable to obtain information since the person contacted refused to provide any kind of data due to privacy policies.

 

Name of the Bank

Royal Bank of Canada

Location                                   

Canada

 

BUSINESS

 

HISTORY

 

The company was created in 2009.

PRINCIPAL ACTIVITY

 

The company provides rugs.

 

It imports most of its products.

Products/Services description:

 

The company offers rugs and carpets.

Sales are:

 

Retail

Clients:

 

General public

Operations area:

 

National, Local

The company imports from Pakistan and India

The company does not export

Trade References:

 

E-one carpet - Pakistan

The subject employs 3 employee(s)

Comments on staff:

 

This information was confirmed by the staff.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at 2273 Dundas St West Unit 10, Mississauga, Ontario L5K 2L8, Canada.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company. It is owned by Shahbaz Tahir.

Management:

 

Shahbaz Tahir, President

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Shahbaz Tahir, President, who provided us with the following data:

Currency

DATE

 

USD

2011

 

Turnover

1,200,000

 

The cash flow is

NORMAL

 

 

Legal Fillings

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

 

Rating

 

Local credit bureau gave a 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 was established in 2009. Therefore, it has a regular experience in its field.

 

PURSIAN RUG GALLERY INC markets rugs and carpets within Canada.

 

The company imports its products and has no exporting operations.

 

It has a good rate per employee.

 

No evidence of legal or labor antecedents found against the company in the consulted databases.       

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

N.A.

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Shahbaz Tahir

Position

 

President

Comments

 

We have contacted this person at the company's who kindly provided us the following data:

 

Address

Employees

Creation date

Suppliers

General commercial data

Financial data 2011

Banks

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.15

UK Pound

1

Rs.86.58

Euro

1

Rs.67.60

 

 

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.