MIRA INFORM REPORT

 

 

Report Date :

17.11.2012

 

IDENTIFICATION DETAILS

 

Name :

CANADIAN STEEL NETWORK INC

 

 

Registered Office :

6445 Kennedy Rd Unit A, Mississauga, ON, L5T 2W4     

 

 

Country :

Canada

 

 

Date of Incorporation :

09.06.1998

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

The company offers a range of steel products coils & sheets

 

 

No. of Employees :

35 employees

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Canada

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

canada - ECONOMIC OVERVIEW

 

As an affluent, high-tech industrial society in the trillion-dollar class, Canada resembles the US in its market-oriented economic system, pattern of production, and affluent living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. The 1989 US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in trade and economic integration with the US its principal trading partner. Canada enjoys a substantial trade surplus with the US, which absorbs about three-fourths of Canadian exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its great natural resources, highly skilled labor force, and modern capital plant, Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the global economic crisis, the economy dropped into a sharp recession in the final months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada''s major banks, however, emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector''s tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010 and 2011 and plans to balance the budget by 2015. In addition, the country''s petroleum sector is rapidly becoming an even larger economic driver with Alberta''s oil sands significantly boosting Canada''s proven oil reserves, ranking the country third in the world behind Saudi Arabia and Venezuela.

 

Source : CIA

 

 

 

GEOPOLITICS

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: CAD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

CANADIAN STEEL NETWORK INC

 

 

Legal Address

6445 Kennedy Rd Unit A,

Mississauga, ON,

L5T 2W4          

Canada

Operative Address

6445 Kennedy Rd Unit A,

Mississauga, ON,

L5T 2W4          

Canada

Telephone:

+ 1 (905) 670-2900

Registration Number :

NA

Fax:

+ 1 (905) 670-4341

Legal Form:

Corporation for Profit

Email:

sales@canadiansteelnetwork.com

Registered in:

NA

Website:

http://www.canadiansteelnetwork.com

Date Created:

June 09,1998

Manager:

Gulzar Ali Jessani, President

Date Incorporated:

NA

Staff:

35

Stock:

NA

 

 

Value:

NA

Activity:

The company offers a range of steel products coils & sheets

 

 

BANKS

 

Name of the Bank

HSBC

 

BUSINESS

 

HISTORY

 

Canadian Steel Network Inc. was formed on June 09,1998.

PRINCIPAL ACTIVITY

 

It offers a range of Steel Products Coils & Sheets.

 

Products/Services description:

 

These include Prime and Secondary

Hot Rolled,Cold Rolled,Galvanized,Galvalume,

Electro-Galvanized, Prepainted, Rainbow Color,

Aluminum, Stainless Steel, ETP,TMBP & TFS.

Sales are:

 

Wholesale

Clients:

 

Professionals of the industry.

Suppliers:

 

The person contacted refused to provide the name of the suppliers for us to check trade references.

Operations area:

 

National, International

The company imports from depending on the demand.

The company exports to Pakistan India, Bangladesh, Sri Lanka, Hongkong, Thailand, China, Vietnam, Egypt, Poland, etc.

 

The subject employs 35 employee(s)

Comments on staff:

 

The staff number has not been confirmed by the company.

 

 

 

PAYMENTS

 

regular

LOCATION

Headquarters

 

The company is headquartered at. 6445/A Kennedy Road; Mississauga; Ontario L5T 2W4; Canada.

Branches:

 

It has no branch locations.

 

 

Shareholders

- Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

This is a private company in which Mr. Gulzar Ali Jessani is among the main shareholders.

Management:

 

Gulzar Ali Jessani, President & Board Member.

 

 

 

Financials

COMMERCIAL TRENDS AND FORECAST

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

We have contacted the operator who refused to provide us any financial data on grounds of confidentiality.

 

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 (Exceptionally in USD).

 

 

 

 

Currency

DATE

USD

2009

Turnover

28,515,535

 

Comments on the financial data: Financial figures have not been confirmed by the company.
The income per employee is pretty fair for the company's size.


Some other sources indicated that annual sales would be in the range from USD 15,000,000 to USD 30,000,000.-

Legal Filings

 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 is a small sized Canadian company which employs 35 people.

 

It has 14 years of experience in the market.

 

The sources consulted record no detrimental legal or labor court information.

 

It offers a range of Steel Products Coils & Sheets.

 

This is an established business.

 

 

 

SuMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 

 

APPENDIX

 

Position

 

Operator

Comments

 

The person contacted refused to provide us any information on grounds of confidentiality.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.99

UK Pound

1

Rs.87.21

Euro

1

Rs.70.22

 

INFORMATION DETAILS

 

Report Prepared by :

NIT

 

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.