MIRA INFORM REPORT

 

 

Report Date :

24.09.2012

 

 

IDENTIFICATION DETAILS

 

Name :

CEDAROME CANADA INC

 

 

Registered Office :

3650 Matte Blvd Suite E-22 Brossard, Quebec J4y 2z2

 

 

Country :

Canada

 

 

Year of Establishment :

1984

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Toiletries, Cosmetics and Sundries Wholesaler-Distributors

 

 

No. of Employees :

40 to 60 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 – 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 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: 100.00 CAD = 102.383 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Legal Name:

CEDAROME CANADA INC

Legal Address

3650 Matte Blvd Suite E-22 BROSSARD, Quebec J4Y 2Z2 Canada.

Operative Address

3650 Matte Blvd Suite E-22 BROSSARD, Quebec J4Y 2Z2 Canada.

Telephone:

+1 (450) 659-8000

ID :

2404524

Fax:

+1 (450) 659-8010

Legal Form:

Corporation for Profit

Email:

mail@cedarome.com

Registered in:

Canada

Website:

www.cedarome.com 

Date Created:

1984

Manager:

Marius Enache, Marketing director

Date Incorporated:

November 24th, 1988

Staff:

40 to 60

Stock:

NA

 

 

Value:

NA

Activity:

Toiletries, Cosmetics and Sundries Wholesaler-Distributors

 

 

BANKS

 

Name of the Bank

Royal Bank Of Canada.

 

 

BUSINESS

 

HISTORY

 

This company was created in the year 1984.

PRINCIPAL ACTIVITY

 

This company is a producer and distributor of flavors, Coniferous oils, concretes, citrus oil, and other essential oils and aroma chemicals.

 

Sales are:

 

Wholesale

Clients:

 

Cosmetic, aromatherapy, fragrances and other pharmaceutical, among other professionals of the industry.

Operations area:

 

National, International, Local

The company imports from Asia

The company exports to worldwide depending on the demand.

Trade References:

 

Despite our efforts, we were not able to be provided with trade references for us to check.

Competitors:

 

9047-5930 Quebec Inc

Herbes Pures J B Ltee, Les

6558348 Canada Inc

Metarom Neotech Inc

Essences Et Fragrances Bell Canada Co

The subject employs 40 to 60 employee(s)

PAYMENTS

 

regular

LOCATION

Headquarters

 

This company is headquartered at 3650 Matte Blvd Suite E-22 BROSSARD, Quebec J4Y 2Z2 Canada.

Branches:

 

The structure would have additional locations within Canada. However, the mentioned information was not confirmed with the staff.

 

Shareholders

Manager - Related Companies

 

Shareholders Parent Company(ies):

 

This is a privately held company. Despite our long searches it has not been possible to identify the shareholders.

Management:

 

Pierre Trahan, President

Jerry O'Regan, Vice President Sales

Marius Enache, Marketing director

Jacques Bergeron, Administration & Finance



Financials

 

 

- COMMERCIAL TRENDS AND FORECAST

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

We have contacted a female representative form accounting who refused to provide us any financial data without knowing the name of the inquiring party.

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.

Comments on the financial data: The latest revenue found for this company is in the range of USD 6,000,000 to USD 9,000,000.

The figures had not been disclosed by the company. They were conciliated with our private sources and from a particular analysis of the company’s structure.

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 an established company with 40 to 60 employees and over 28 years of experience.

 

The structure serves multiple industries due to the nature of its business.

 

There were no legal filings found against the company or its legal representatives.

 

The figures had not been disclosed by the company. They were conciliated with our private sources and from a particular analysis of the company’s structure.

 

Based on the financial information analyzed, we consider that the income per employee is correct for its size.

 

 



APPENDIX

 

Person Interviewed

 

Female representative from accounting

Comments

 

The person contacted refused to provide us her name or any further information about the company without knowing the name of the solicitor.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.91

UK Pound

1

Rs.87.60

Euro

1

Rs.70.01

 

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.