MIRA INFORM REPORT

 

 

Report Date :

26.07.2012

 

IDENTIFICATION DETAILS

 

Name :

TAPIS VENTURE INC

 

 

Registered Office :

700 120e Rue, Saint-Georges, QC G5Y 6R6

 

 

Country :

Canada

 

 

Year of Establishment :

1928

 

 

Com. Reg. No.:

1161956082

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Textile floor coverings

 

 

No. of Employees :

250-500

 

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

 

Maximum Credit Limit :

USD 400,000

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 – 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

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: CAD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

TAPIS VENTURE INC

 

 

Legal Address

700 120e Rue, Saint-Georges, QC G5Y 6R6, Canada

Operative Address

700 120e Rue, Saint-Georges, QC G5Y 6R6, Canada

Telephone:

418-227-5955

Registration Number :

1161956082

Fax:

418-227-4515

Legal Form:

Corporation for Profit

Email:

info@venturecarpets.com 

Registered in:

Quebec, Canada

Website:

www.venturecarpets.com

Date Created:

1928

Manager:

Duval Richard - President

Date Incorporated:

NA

Staff:

250-500

Stock:

NA

 

 

Value:

NA

Activity:

Textile floor coverings

 

 

BANKS

 

Name of the Bank

Royal Bank of Canada

 

 

BUSINESS

 

HISTORY

 

It was founded by Mr. Édouard Lacroix in 1928, but the current company was created with the acquisition of Venture Carpet Inc by Groupe St-Georges Inc. on July 1st, 2003.

 

PRINCIPAL ACTIVITY

 

Textile floor coverings.

Products/Services description:

 

Categories:

 

-Residential: Carpets suitable for residential use.

-Commercial: Carpets for installation in high density traffic areas.

-Hospitality: Carpets styled for usage in hotels, motels, restaurants and areas welcoming the general public.

Sales are:

 

Wholesale

Clients:

 

Professionals of the industry

Suppliers:

 

We could not reach any representative who could provide us with the suppliers' names.

Operations area:

 

National, International

The subject employs 250-500 employee(s)

Comments on staff:

 

The staff number was not confirmed by the company.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at: 700 120e Rue

Saint-Georges, QC G5Y 6R6, Canada

Surface area:

 

72,000 ft2.

Branches:

 

1600 Rue Janelle Drummondville, QC J2C 3E5, Canada (not confirmed).

 

 

Shareholders

- Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company.

 

Main shareholders:

 

Gestion Alexandre Lacroix Inc.

Direct Capital Inc.

Management:

 

Duval, Richard - President

Lacroix, Alexandre - Secretary

 

 

Financials

- Commercial Trends And Forecast

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

We called the company but only reached its voicemail. We left a message which kept unanswered as of today.

 

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 55,000,000.-

 

Legal Fillings

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

The last annual report was filed on: 2012-06-29.

 

 

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 Canadian company which employs between 250 and 500 people.

 

It has near 80 year of experience in the market.

 

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

 

It engages as a manufacturer and distributor of carpets, rugs, etc.

 

It is well known in the market.

 

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

 

At this time, a credit line of USD 400,000 may be considered.

 

We also suggest a review in 6-9 months to check on the company's evolution.




SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 



APPENDIX

 

Comments

 

We called the company and reached a voicemail which stated that the company will be operating again from August 5th. It appears to be closed due to holidays reasons.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.38

UK Pound

1

Rs.87.44

Euro

1

Rs.68.05

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.