MIRA INFORM REPORT
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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
FOREST FIBERS INC |
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Registered Office : |
5000 Armand-Frappier, Saint-Hubert, (Québec) J3z 1g5, Canada. |
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Country : |
Canada |
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Date of Incorporation : |
28.08.2001 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Paper Products Exporter |
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No. of Employees
: |
75 persons |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 500,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Canada |
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: CAD |
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Legal Name: |
FOREST FIBERS INC |
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Legal Address |
5000 ARMAND-FRAPPIER, SAINT-HUBERT, (QUÉBEC) J3Z 1G5, CANADA. |
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Operative Address |
5000 ARMAND-FRAPPIER, SAINT-HUBERT, (QUÉBEC) J3Z 1G5, CANADA. |
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Mailing Address |
5 PLACE VILLE-MARIE, BUREAU 1203, H3B 2G2, MONTRÉAL, Quebec, CA |
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Telephone: |
+1 (450)-46-66 688 |
Document Number : |
1160304631 |
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Fax: |
+1 (450)-46-68 870 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
Quebec |
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Website: |
Date Created: |
August, 28th, 2001 |
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Manager: |
Domenic Colubriale, President. |
Date Incorporated: |
September, 04th, 2001 |
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Staff: |
75 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
Paper Products Exporter. |
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Name of the Bank |
Royal Bank of Canada |
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HISTORY |
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Forest Fibers Inc is a private company created in 2001, the company
has several years experience in industry. The subject is registered in Quebec
since September 2001. |
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PRINCIPAL ACTIVITY |
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Forest Fibers specializes in exporting paper products and specialty of
every grade all over the world. it is also a recycling business. |
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Products/Services description: |
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All grades of papers foil laminated, poly board and all specialty
grades. |
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Sales are: |
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Wholesale. |
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Clients: |
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Professionals of the industry. |
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Suppliers: |
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Recycling plants, paper converting plants, printing companies, paper
mills, and other major suppliers of paper products. |
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Operations area: |
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National, International. |
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The company export to China, India, Western Europe and South America. |
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The subject employs 75 employees. |
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Comments on staff: |
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120 at group level. |
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PAYMENTS |
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Made on a 30 days basis - monitored over the last 12 months. |
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LOCATION |
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Headquarters |
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The company is headquartered at 5000 ARMAND-FRAPPIER, SAINT-HUBERT,
(QUÉBEC) J3Z 1G5, CANADA. |
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This is a private company. THE D.A.C. FAMILY TRUST located at: 7555, RUE DE LUGANO BROSSARD,
(QUÉBEC) J4Y 3G2, CANADA, is the main shareholder. |
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Management: |
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COLUBRIALE DOMINIC, President. COLUBRIALE FRANCK, CFO. |
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Related Companies: |
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- Forest Fibers Transport - Forest Fibers Logistics |
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As a private company the subject does not publish any financial
statements. |
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We have contacted Mr. Frank Colubriale, CFO, who provided us with the
following data: |
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Currency |
DATE |
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CAD |
2011 (forecast) |
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Turnover |
165,000,000 |
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The cash flow is |
NORMAL |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
4,000,000 |
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The cash flow is |
NORMAL |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
3,940,480 |
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The cash flow is |
NORMAL |
Comments on the financial data: Dear Client,
please notice that the turnover for 2011 is the trading volume of the company. As
a trading company, its own income may be 4 to 10 times lower than that figure.
Even so, it still is higher than the one for 2010. This will impact the rating
and credit line.
Legal Fillings
The sources consulted record no detrimental
legal or labor court information.
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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. |
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Final Opinion |
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This is a medium sized Canadian company that
has been in business for 10 years. The company is active and doing business.
It is operated by its owners, and there are no detrimental legal or labor
information filed against the company. The financial information for 2010 show
that the company has a good performance in the market according to its size
and amount of employees. We believe that a credit line can be
conducted for USD 500,000 |
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
N.A. |
Payments |
REGULAR |
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Cash |
NORMAL |
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Person Interviewed |
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Mr. Frank Colubraile. |
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Position |
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Chier Financial Officer. |
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Comments |
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The contacted person provided us with the following information:
company's name, location, activity, products, shareholdings, management
staff, number of employees, payment trend to the suppliers, and revenue for
2011 (Forecast), import/export information, creation date. The response was very polite and professional. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.31 |
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UK Pound |
1 |
Rs.79.04 |
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Euro |
1 |
Rs.65.82 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.