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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
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Name : |
CANADIAN STEEL NETWORK INC |
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Registered Office : |
6445 Kennedy Rd Unit A, Mississauga, ON, L5T 2W4 |
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Country : |
Canada |
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Date of Incorporation : |
09.06.1998 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
The company offers a range of steel products coils & sheets |
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No. of Employees : |
35 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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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.
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Source : CIA |
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POLITICAL DATA |
ECONOMIC DATA |
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Form of Government: Federal
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Currency: CAD |
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Legal Name: |
CANADIAN STEEL NETWORK INC |
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Legal Address |
6445 Kennedy Rd Unit A, Mississauga, ON, L5T 2W4 Canada |
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Operative Address |
6445 Kennedy Rd Unit A, Mississauga, ON, L5T 2W4 Canada |
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Telephone: |
+ 1 (905) 670-2900 |
Registration Number : |
NA |
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Fax: |
+ 1 (905) 670-4341 |
Legal Form: |
Corporation for Profit |
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Email: |
Registered in: |
NA |
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Website: |
Date Created: |
June 09,1998 |
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Manager: |
Gulzar Ali Jessani, President |
Date Incorporated: |
NA |
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Staff: |
35 |
Stock: |
NA |
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Value: |
NA |
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Activity: |
The company offers a range of steel products coils & sheets |
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Name of the Bank |
HSBC |
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HISTORY |
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Canadian Steel Network Inc. was formed on June 09,1998. |
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PRINCIPAL ACTIVITY |
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It offers a range of Steel Products Coils & Sheets. |
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Products/Services description: |
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These include Prime and Secondary Hot Rolled,Cold Rolled,Galvanized,Galvalume, Electro-Galvanized, Prepainted, Rainbow Color, Aluminum, Stainless Steel, ETP,TMBP & TFS. |
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Sales are: |
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Wholesale |
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Clients: |
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Professionals of the industry. |
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Suppliers: |
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The person contacted refused to provide the name of the suppliers for
us to check trade references. |
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Operations area: |
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National, International |
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The company imports from depending on the demand. |
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The company exports to Pakistan India, Bangladesh, Sri Lanka, Hongkong,
Thailand, China, Vietnam, Egypt, Poland, etc. |
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The subject employs 35 employee(s) |
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Comments on staff: |
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The staff number has not been confirmed by the company. |
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PAYMENTS |
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regular |
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LOCATION |
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Headquarters |
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The company is headquartered at. 6445/A Kennedy Road; Mississauga;
Ontario L5T 2W4; Canada. |
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Branches: |
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It has no branch locations. |
- Manager - Related
Companies
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Listed at the stock exchange: |
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NO |
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Shareholders Parent Company(ies): |
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This is a private company in which Mr. Gulzar Ali Jessani is among the
main shareholders. |
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Management: |
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Gulzar Ali Jessani, President & Board Member. |
COMMERCIAL TRENDS AND FORECAST
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As a private company the subject does not publish any financial
statements. |
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We have contacted the operator who refused to provide us any
financial data on grounds of confidentiality. |
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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). |
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Currency |
DATE |
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USD |
2009 |
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Turnover |
28,515,535 |
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Comments on the financial data: Financial
figures have not been confirmed by the company.
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Legal Filings |
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The
sources consulted record no detrimental legal or labor court information. |
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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. |
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Final Opinion |
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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. |
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Profitability |
N.A. |
Public |
NO |
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Indebtedness |
CONTROLLED |
Payments |
REGULAR |
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Cash |
NORMAL |
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Position |
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Operator |
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Comments |
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The person contacted refused to provide us any information on grounds
of confidentiality. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.53 |
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UK Pound |
1 |
Rs.86.82 |
|
Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.