MIRA INFORM REPORT

 

 

Report Date :

23.05.2012

 

IDENTIFICATION DETAILS

 

Name :

NIMET METALS & MINERALS INC

 

 

Registered Office :

300-2939 Portland Dr. Oakville, Ontario L6h 5s4

 

 

Country :

Canada

 

 

Year of Establishment :

1990

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Wholesales iron and steel scrap

 

 

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

 

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 USD = 78.5990 EUR

Branch Situation:Stable

 

 

IDENTIFICATION

 

Legal Name:

NiMet Metals & Minerals Inc

 

 

Legal Address

300-2939 Portland Dr. OAKVILLE, Ontario

L6H 5S4

Operative Address

300-2939 Portland Dr. OAKVILLE, Ontario L6H 5S4

Telephone:

+1 (289) 291-1111

ID :

 ON-0001563138

Fax:

+1 (289) 291-1100

Legal Form:

Corporation for Profit

Email:

ni-met@ni-met.com

Registered in:

Canada

Website:

http://www.ni-met.com

Date Created:

1990

Manager:

Anil Shah,  President

Date Incorporated:

1990

Staff:

20

Stock:

NA

 

 

Value:

NA

Activity:

Wholesales iron and steel scrap

 

 

BANKS

 

Name of the Bank

ROYAL BANK OF CANADA

 

 

BUSINESS

 

HISTORY

 

 

The company was created in 1990.

 

PRINCIPAL ACTIVITY

 

Wholesales iron and steel scrap

Products/Services description:

 

Ni-Met Metals & Minerals Inc.’s line of business is wholesaler of iron and steel scrap.

 

Exports of nonferrous base metals & scraps.

Sales are:

 

Wholesale

Clients:

 

Metal Recycling Industry.

Operations area:

 

National, International

The company imports from Chile, España, Mexico

The company exports to India and China

The subject employs 20 employees

PAYMENTS

 

Regular

LOCATION

Headquarters

 

300-2939 Portland Dr. OAKVILLE, Ontario L6H 5S4

 

 

 

The property is:

 

Owned

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

Mr. Anil Shah is the company's main shareholder.

Management:

 

ANIL SHAH, PRESIDENT

 

GIRISH KEKRE, VICE PRESIDENT

 

PANKAJ LILANI, FINANCE CONTROLLER

 

BARACK MOODY, CONTROLLER

 

                                                                                                                                       

Financials - COMMERCIAL TRENDS AND FORECAST

 

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

We have contacted Mr. Barack Moody who refused to provide us any financial data on grounds of confidentiality.

 

 

Currency

DATE

CAD

2011

Turnover

55,000,000

The cash flow is

Normal

 

 

Currency

DATE

CAD

2009

Turnover

55,000,000

Net Income

5,000,000

The cash flow is

NORMAL

 



Comments on the financial data: We recontacted re company and the operator said that the turnover for 2010 was CAD 55,000,000 (estimates)

 

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

 

NiMet Metals & Minerals Inc, has 22 years of experience in the market as sholesaler, from their sole location and with 20 employees, also they import some of the products from some countries around the world, as well as trades scrap metals to India and China.

 

We did not find any negative information or legal record against the company

 

 

SUMMAY


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

 

Indebtedness

N.A.

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

 

 



APPENDIX

 

Person Interviewed

 

Mr. Barach Moody

Position

 

Operator

Comments

 

Mr. Moody, confimed us some of the information for this report, but he refused to provide us any extra.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.88

UK Pound

1

Rs.86.84

Euro

1

Rs.70.21

 

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.