MIRA INFORM REPORT
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Report Date : |
28.03.2012 |
IDENTIFICATION DETAILS
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Name : |
MARKS WORK WEARHOUSE LTD |
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Registered Office : |
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Country : |
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Year of Establishment : |
1977 |
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Com. Reg. No.: |
1143722933 |
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Legal Form : |
Limited Company |
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Line of Business : |
Clothing Retail |
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No. of Employees
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4,169 |
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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 600.000 |
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Status : |
Good |
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Payment
Behaviour : |
Regular |
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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: USD |
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Legal Name: |
Marks Work Wearhouse LTD |
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Legal Address |
4500 855 2ND STREET S.W. CALGARY (ALBERTA) T2P4K7 (registered agent address) |
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Operative Address |
1035 64 Avenue SE Suite 30 Calgary, AB T2H 2J7 Canada (headquarters) |
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Telephone: |
+1 403-692-7543 |
Registration Number : |
1143722933 |
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Fax: |
+1 403-255-6005 |
Legal Form: |
Limited Company |
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Email: |
Registered in: |
CANADA |
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Website: |
Date Created: |
1977 |
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Manager: |
Paul Wilson President |
Date Incorporated: |
March 10th 1987 |
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Staff: |
4,169 |
Stock: |
N.A. |
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Value: |
N.A. |
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Activity: |
Clothing Retail |
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Name of the Bank |
Canadian Imperial Bank of Commerce |
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HISTORY |
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The company first opened in Mark's Work Wearhouse opened stores in 1981 and got to a peak of nine
stores in February 4, 2002, Mark's Work Wearhouse Ltd. operates as a subsidiary
of Canadian Tire Corp. Ltd. |
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PRINCIPAL ACTIVITY |
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The company offers casual and business wear, outdoor apparel, work
wear, and safety footwear. Its products include purses, belts, gloves, socks,
headwear, underwear, safety gear, work socks, and summer accessories; shoes,
hikers, and sandals, as well as work boots; and outerwear, including shirts,
sweats, tops, fleece, sweaters, pants, shorts, skirts, jackets, vests, and
rainwear. |
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Products/Services description: |
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Dh3 Shirts Pants Outerwear Footwear Accessories Workwear |
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Sales are: |
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Retail |
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Brands: |
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BluePine, Dakota WorkPro Ispiri Levi's Carhartt Point Zero J. B. Goodhue Dickies |
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Clients: |
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Public in general |
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Suppliers: |
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KDS GARMENTS INDS. LTD 255, NASIRABAD I A CENTURY DISTRIBUTION SYSTEMS, INC ON BEHALF OF KING STAR GARMENT CO.,LTD 374A/374/1 LE VAN QUOI, BINH
HUHOA A WARD, BINH TAN DIST, Tuglaon Fashions Ltd. Jarun, Konabari, Gazibur Sadar, |
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Operations area: |
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National, Local |
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The company imports from Europe, Asia, |
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The subject employs 4,169 employees |
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PAYMENTS |
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made on a 60 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 1035 64 Avenue SE Suite 30 Calgary, AB
T2H 2J7 Canada |
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Surface area: |
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from 2,000 sq ft to 2,500 sq f |
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The property is: |
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Owned |
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Comments on location: |
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These are the main offices. |
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Branches: |
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1035 64 Avenue SE |
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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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The sole owner of the company is Canadian Tire Corporation, Limited,
located at Canadian Tire Corporation is listed at the stock exchange under CTC. Canadian Tire Corporation, Limited, together with its subsidiaries,
operates general merchandise and apparel retail stores, and gas stations in |
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Management: |
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Maureen Sabia Chairman of the Board Stephen Wetmore CEO Marco Marrone EVP Finance |
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Related Companies: |
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Imagewear 1.877.836.5041 http://www.imagewear.ca/ L'Equipeur L'Équipeur Customer Service L3B 5S3 Phone: 1-800-663-6275 Fax: 1-800-452-0770 http://www.lequipeur.com Canadian Tire http://www.canadiantire.ca |
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As a private company the subject does not publish any financial
statements. |
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We have contacted the financial department who refused to provide
us any financial data without knowing the name of the inquiring party. |
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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. |
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Currency |
DATE |
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USD |
2011 |
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Turnover |
979,500,000 |
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The cash flow is |
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Currency |
DATE |
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USD |
2010 |
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Turnover |
8,980,800,000 |
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Operating Income |
8,383,800,000 |
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Net Income |
453,600,000 |
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The cash flow is |
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Comments on the financial data: The fiancial information
for 2010 is from the parent company (Canadian Tire Corporation, Limited). |
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Legal Fillings |
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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 company has been in business for 34
years -This is a big size company with 4,700
employees. -There were no legal filings found against
the company or its legal representatives. -It is a part of a large conglomerate
which is publicly traded at TSX under ticker symbol "CTC" that has
a very stable structure as a guarantor for the credit line considered for the
subject company. -A credit line may be considered for USD
600.000 |
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Profitability |
CORRECT |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
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Comments |
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We have contacted the financial department and the person who answered
refused to provide or confirm any financial data without knowing the name of
the inquiring party. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.91 |
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1 |
Rs.81.27 |
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Euro |
1 |
Rs.67.99 |
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.