MIRA INFORM REPORT

 

 

Report Date :           

21.03.2012

 

 

 

Tel. No.:

6137453600

Fax No.:

1 888 345359

 

IDENTIFICATION DETAILS

 

Name :

ICOR TECHNOLOGY INC.

 

 

Registered Office :

Registered Office :

5459 Canotek Road, Unit 1, Ottawa, Ontario  K1J 9M3 (headquarters)

 

 

Country :

Canada

 

 

Year of Establishment :

2005

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Security Technology Provider

 

 

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

 

Maximum Credit Limit :

USD 50,000

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 30th, 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

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Medium

 

 

IDENTIFICATION

 

Legal Name:

ICOR Technology INC.

 

 

Legal Address

5459 Canotek Road, Unit 1

Ottawa, Ontario  K1J 9M3 (headquarters)

 

 

Telephone:

613.745.3600

ID :

N.A.

Fax:

613.745.3590

Legal Form:

Corporation for Profit

Email:

customerservice@icortechnology.com

Registered in:

CANADA

Website:

http://www.icortechnology.com

Date Created:

2005

Manager:

Hany Guirguis President & Board Member

Date Incorporated:

N.A.

Staff:

20

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Security technology provider

 

 

BANKS

 

Name of the Bank

ROYAL BANK OF CANADA

                                                                                                                                       

                                                                                                                                       

BUSINESS

 

HISTORY

 

Icor Technology Inc, is a private company founded in 2005.

PRINCIPAL ACTIVITY

 

ICOR Technology designs and manufactures high-quality EOD/IEDD protective security equipment for individuals in military, as well as law enforcement, nuclear, and security related sectors.

Sales are:

 

Wholesale

Clients:

 

companies related with security and technology.

Suppliers:

 

ZHEJIANG YONGKANG FOREIGN ECONOMYT

FLOOR 8 BLDG.C NEW CENTURY SQUARE YONGKANG CN

Operations area:

 

National

The company imports from Asia.

The subject employs 20 employees

PAYMENTS

 

regular

LOCATION

Headquarters

 

5459 Canotek Road, Unit 1

Ottawa, Ontario  K1J 9M3

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

Icor Technology Inc is a private company, and we could not find any information about the shareholders of the company.

Management:

 

Hany Guirguis

President & Board Member

 

                                                                                                                                       

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Marck sales representative, who refused to provide us any financial data without knowing the name of the inquiring party.

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.

 

Currency

DATE

USD

2010

Turnover

4,500,000

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

 

-It is a small size company with 20 employees, and 7 years of experience in the market.

 

-Icor Technology has a good structure with a single location.

 

-The revenue is good despite the company is a recently created company.

 

-The company is well known in the market.

 

-Icor Technology specializes in technology Security like robots.

 

-A credit line may be considered for USD 50,000

 



SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

CORRECT

 

 

 

 



APPENDIX

 

Person Interviewed

 

Jack

Position

 

Sales representative

Comments

 

The person contacted, refused to provide any information, he only confirmed the address of the headquarters.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.25

UK Pound

1

Rs.79.76

Euro

1

Rs.66.52

 

 

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.