MIRA INFORM REPORT

 

 

Report Date :

09.03.2012

 

IDENTIFICATION DETAILS

 

Name :

FABRICVILLE CO. INC.

 

 

Registered Office :

1210 SHEPPARD AVENUE EAST, SUITE 304, WILLOWDALE ON M2K 1E3

 

 

Country :

Canada

 

 

Year of Establishment :

1970

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Textiles Manufacture

 

 

No. of Employees :

50

 

 

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 100,000

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 – September 30, 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 – CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation:Medium

 

 

IDENTIFICATION

 

Legal Name:

FABRICVILLE CO. INC.

Trade Name:

Fabricville

Legal Address

1210 SHEPPARD AVENUE EAST, SUITE 304, WILLOWDALE ON M2K 1E3, Canada. (Registered Office Address)

Operative Address

9195 Charles de Latour

Montreal, Québec (headquarters)

Telephone:

514 383-3942 / 416-658-2200

ID :

1142857847

Fax:

(514) 383-1746 or (514) 383-6951

Legal Form:

Corporation for Profit

Email:

info@fabricville.com

Registered in:

CANADA

Website:

http://www.fabricville.com

Date Created:

1970

Manager:

MORGAN, MURRAY, President

Date Incorporated:

FEBRUARY 22TH 1995

Staff:

50

Stock:

N/A

 

 

Value:

N/A

Activity:

Textiles Manufacture

 

 

BANKS

 

Name of the Bank

ROYAL BANK OF CANADA

 

BUSINESS

 

HISTORY

 

-Fabricville has been in business since 1970, registered in Canada.

PRINCIPAL ACTIVITY

 

Fabricville is a fabric retailer, that works with:

 

• "polar type" arctic fleece

• lambskin fleece

• nursery fleece

• corduroy

• shirtings and broadcloths

• suitings

• twills

• poplins

• linens and linen looks

• gabardines

• knits

• blouseweights

• sheers

• pique

• rayon prints and plains

• polycottons     • pure cottons

• cotton sateens

• crafting

• prints

• "lurex" type fabrics

• brocades

• favorite character prints

• wools

• wool blends

• summer wools

• skin prints

• velvets

• velveteen

• holiday fabric

• We have the largest selection of fashion polyester

 

 

 

 

 

Sales are:

 

Retail

Brands:

 

Decor At Fabricville

Clients:

 

Public in general.

Suppliers:

 

Bellatex Management Ltd.

4th Fl No 155 Min Sheng E Rd Sec 5 Taipei Taiwan Taipei Cn

Operations area:

 

National

The company imports from INDIA (Nhava Sheva) and TAIWAN

The subject employs 50 employees

PAYMENTS

 

regular

LOCATION

Headquarters

 

9195 Charles de Latour, Montreal, Québec

Branches:

 

The company has 24 branches distributed in Montreal (8), Quebec (6) and Maritimes (10).

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company was created by:

 

First shareholder (is not majority shareholder)

FRANTELLE INVESTMENTS LIMITED

1450, CASTLEFIELD AVENUE TORONTO (ONTARIO) M6M1Y6

 

Second shareholder

FABRICVILLE DISTRIBUTORS LIMITED

1210, SHEPPARD ST. E SUITE 304 TORONTO (ONTARIO) M2K1E3

 

Third shareholder

MURRAY MORGAN LIMITED

9195 rue Charles-De La Tour Montréal (Québec) H4N1M3 Canada

Management:

 

MORGAN, MURRAY, president

KIMMEL, MANNY, Vice-president

FUHRER, MARCEL, Treasurer and secretary

Related Companies:

 

FABRICVILLE DISTRIBUTORS LIMITED

1210, SHEPPARD ST. E SUITE 304 TORONTO (ONTARIO) M2K1E3

 

 



Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted the credit department who refused to provide us any financial data without knowing the name of the inquiring party.

Comments on the financial data: In addition, we suggest requesting a monitoring report within the next 6-9 months to evaluate 2011 final results.

Legal Fillings

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

 




Rating

 

Local credit bureau gave a MEDIUM credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

-The company has a long experience in the market.

 

-The company is supported by another import.

 

-The reviews of the company from the customers are good and gives a good references about the quality.

 

-A credit line may be considered for USD 100,000

 

 

SUMMARY


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

CORRECT

 

 

 

 

 

APPENDIX

 

Comments

 

We tried to contact the credit department, and they confirm the legal name of the company, as well as the address, but refuse to provide any further info.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.57

UK Pound

1

Rs.79.57

Euro

1

Rs.66.49

 

 

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.