MIRA INFORM REPORT

 

 

 

 

Report Date :

12.09.2012

 

IDENTIFICATION DETAILS

 

Name :

PAARSON GROUP LTD

 

 

Registered Office :

10th Floor, Brunswick House, 44 Chipman Hill, P.O. Box 7289, Postal Station A, Saint John, NB E2L 4S6.

 

 

Country :

Canada

 

 

Year of Establishment :

2009

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Subject is an offshore company

 

 

No. of Employees :

Not Available 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Offshore Company

Payment Behaviour :

Unknown

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

 

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 economiccrisis, 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: 100.00 CAD  =  100.810 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Comments on data supplied:

The address provided in the order was incomplete.

Legal Name:

PAARSON GROUP LTD

Legal Address

10th Floor, Brunswick House, 44 Chipman Hill, P.O. Box 7289, Postal Station A, Saint John, NB E2L 4S6. (Registered Agent's Address)

 

 

Telephone:

+1 (506) 693-2120 (Registered Agent's Phone)

Registration Number :

N/A

Fax:

+1 (506) 693-2370 (Registered Agent's Fax)

Legal Form:

Limited Company

Email:

N/A

Registered in:

Canada

Website:

N/A

Date Created:

2009

Manager:

N/A

Date Incorporated:

N/A

Staff:

0

Stock:

N/A

 

 

Value:

N/A

Activity:

Offshore Company.

 

 

BANKS

 

Name of the Bank

SCOTIA BANK

 

 

BUSINESS

 

PRINCIPAL ACTIVITY

 

PAARSON GROUP LTD is an international business company / offshore company incorporated in Canada for tax purposes.

 

However the company does not carry any operation in Canada.

 

It is not registered with the Canada chamber of commerce as being an active business.

 

It is not listed with the Canada yellow pages.

 

It is not listed with the major local credit bureaus.

 

The company does not have any employee in Canada.

 

It uses the registered agent staff.

 

We have contacted Mr. Rofaeillo at the Italian phone number provided in the order (+393383149859).

 

According to this person, the company is an offshore company registered in Canada, which main operations are located in the United Kingdom. It does not operate in Canada.

 

The person also stated that the company engages as an importer and distributor of leather. The company would import raw material from African and Asian suppliers and distribute it throughout Italian tanneries.

 

Despite our long searches, we did not find any consistent commercial information about the company’s operations. Not even in the United Kingdom. Therefore, we cannot affirm that it is an established business. 

 

 

Trade References:

 

In virtue of the nature of its business activities its local transactions are seldom. Therefore, commercial sources consulted in the marketplace report that they are unable to establish subject's payment performance and general reputation regarding commitments contracted as same it is UNKNOWN as making use of credit facilities.

LOCATION

Headquarters

 

The address mentioned above is that of the registered agent:

 

*STEWART MCKELVEY LAW FIRM

10th Floor, Brunswick House,

44 Chipman Hill,

P.O. Box 7289, Postal Station A,

Saint John, NB E2L 4S6, Canada.

Phone: +1 (506) 693-2120

Phone: +1 (506) 693-2370

 

The agent declined to give any information on the subject, who is protected by the law of non disclosure.

 

 

 

Shareholders

- Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The subject is owned by foreign shareholders.

Management:

 

It is locally managed by the registered agent mentioned above.

 

The agent declined to give any information on the subject, who is protected by the law of non disclosure.

 

 

Financials

- COMMERCIAL TRENDS AND FORECAST

The subject company is registered as an International business company / offshore company in Canada and is therefore exempt from filing and / or publishing annual audited accounts at the registrar of companies, under Canadian law. In addition, due to the laws of privacy governing disclosure of BANKING INFORMATION, we are unable to demand a copy of the subject's latest financial statements.

 

At this time, the 2011 financial figures were neither revealed nor released to our sources.

Legal Filings

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




Rating

 

Local credit bureau did not rate this company.

 

 

 Final Opinion

 

We are reporting an offshore company which belongs to foreign shareholders. Although it is registered in Canada, it uses such territory only as its legal and administrative address, but all its operations are carried out abroad.

 

It is managed by a resident registration agent and it is unknown in the marketplace, so its commercial morality and general reputation cannot be assessed, although nothing detrimental is noted upon request.

 

Despite our long searches, we did not find any consistent commercial information about the company’s operations. Not even in the United Kingdom. Therefore, we cannot affirm that it is an established business. 

 

Having all this information in consideration, we suggest working with GUARANTEES.

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

Profitability

N.A.

Public Records

NO

 

Indebtedness

N.A.

Payments

N.A.

 

Cash

N.A.

 

 

 

 

 

APPENDIX

 

Person Interviewed

 

Mr. Rofaeillo

Position

 

Company's Agent.

Comments

 

Mr. Rofaeillo, who we contacted at the Italian phone number provided in the order (+393383149859), stated that the company is an offshore business registered in Canada but operating in the UK.

 

He also provided the company's creation date and also some information about the company's activities which are detailed in the business segment of the report. Then, he refused to provide further information via telephone. Therefore, we have sent an email to his email address which has not been answered yet.

 

We have also sent an email requesting information at "paarsonltd@gmail.com" and none one has answered us either.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.52

UK Pound

1

Rs.88.85

Euro

1

Rs.70.85

 

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.