MIRA INFORM REPORT

 

 

Report Date :

19.05.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

TAI FOONG INTERNATIONAL FOOD LTD 

 

 

Registered Office :

2900 Markham Rd Scarborough, Ontario M1X 1E6

 

 

Country :

Canada

 

 

Year of Establishment :

1977

 

 

Com. Reg. No.:

Not Available

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Food and sea food wholesalers

 

 

No. of Employees :

95

 

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

 

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: 100.00 CAD = 97.9489 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Comments on data supplied:

Dear client,

 

Even though several yellow pages list the company at the address you provided, we were unable to check it with the staff.

Legal Name:

TAI FOONG INTERNATIONAL FOOD LTD

Trade Name:

TFI Foods ltd

Legal Address

2900 Markham Rd Scarborough, Ontario M1X 1E6 Canada

 

Operative Address

2900 Markham Rd Scarborough, Ontario M1X 1E6 Canada

 

Telephone:

+1 (416) 297-3291

Registration Number :

NA

Fax:

+1 (416) 299-7575

Legal Form:

Limited Liability Company

Email:

tfitoronto@taifoong.com

Registered in:

Canada

Website:

http://www.taifoong.com

Date Created:

1977

Manager:

David Lam, President & Board Member

Date Incorporated:

NA

Staff:

95

Stock:

NA

 

 

Value:

NA

Activity:

Food and sea food wholesalers

 

 

BANKS

 

Name of the Bank

RBC

 

BUSINESS

 

HISTORY

 

The company was established in the year 1977

PRINCIPAL ACTIVITY

 

The company engages as a wholesaler of sea food and other products.

 

Products/Services description:

 

Shrimp

Octopus

Molluscs

Mussels

Sales are:

 

Wholesale

Brands:

 

Northern King

Thai Gold

Clients:

 

Various Restaurants, Bars, Hotels

Supermarkets

Specialty food Markets

Suppliers:

 

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

Operations area:

 

National, International, Local

The company imports from Asia

The company exports to North America

Trade References:

 

Jazmine

Ox Head

The subject employs 95 employee(s)

Comments on staff:

 

The staff number could not be checked by the company.

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at 2900 Markham RD

Scarborough, Ontario M1X 1E6 Canada

 

The property is:

 

Owned

Branches:

 

There are various branches in:

Vancouver

Calgary

Montreal

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company is a wholly owned subsidiary of Tai Foong Investments Ltd. which are owned by the Lam family members.

 

Tai Foong Investments Ltd

2900 Markham Rd

Scarborough, Ontario M1X 1E6

Canada

Phone: (416) 299-7575

Management:

 

David Lam, President & Board Member

Sherman Lam, Board Member

Chi Tung Lam, Administrator

                                                                                                                                       

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We reached the company's voicemail in which we left a message. Nobody has called us back yet.

 

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

CAD

2010

Turnover

37,620,000

The cash flow is

Normal

 

 

Comments on the financial data: The financial figures have not been confirmed by the company.

The income per employee is pretty high for the company's size, but that may be due to the fact that the company is involved in trading.

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

 

This company has been in business for 35 years.

 

It has a staff of 95 employees which makes it a medium sized company.

 

There were no legal filings found for this company or its legal representatives.

 

The company is a wholly owned subsidiary of TAI FOONG INVESTMENTS LTD.

 

It engages as a seafood importer and distributor and it has international relations with North America.

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Comments

 

We reached the company's voicemail in which we left a message. Nobody has called us back yet.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.88

UK Pound

1

Rs.86.46

Euro

1

Rs.69.49

 

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.