MIRA INFORM REPORT

Report Date :

28.09.2012

IDENTIFICATION DETAILS

Name :	TRENTON COLD STORAGE INC (TCS GROUP)

Registered Office :	21 Albert St Trenton, Ontario K8v 4s4

Country :	Canada

Year of Establishment :	1902

Legal Form :	Corporation for Profit

Line of Business :	Storage and shipping solutions.

No. of Employees :	200 to 300 employees

RATING & COMMENTS

MIRA’s Rating :

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 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Canada

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 = 102.031 USD

Branch Situation: Stable

IDENTIFICATION

Comments on data supplied:	Please note that the address provided in the order is that of a non incorporated business unit as the company’s headquarters are located at 21 Albert St TRENTON, Ontario K8V 4S4 Canada. That is why we proceed on making the report under that address.
Legal Name:	Trenton Cold Storage inc (TCS Group)
Trade Name:	TCS Group.
Legal Address	21 Albert St TRENTON, Ontario K8V 4S4 Canada.
Operative Address	21 Albert St TRENTON, Ontario K8V 4S4 Canada.
Telephone:	+1 (613) 394-3317	ID :	NA
Fax:	+1 (613) 394-3263	Legal Form:	Corporation for Profit
Email:	suem@trencold.com	Registered in:	Canada
Website:	www.trencold.com	Date Created:	1902
Manager:	Dan Jess, General Operations Manager	Date Incorporated:	NA
Staff:	200 to 300	Stock:	NA
		Value:	NA
Activity:	Storage and shipping solutions.

BANKS

Name of the Bank

Royal Bank Of Canada.

BUSINESS

HISTORY
	This company was created in the year 1902 by Eben James I .
PRINCIPAL ACTIVITY
	The structure is a refrigerated warehousing and distribution company, with cold storage, temperature controlled warehousing, and distribution solutions.
Products/Services description:
	The company also provides transportation and import and export solutions. Its import/export services include inspections, export stamping and labeling services, container loading, and export document preparation.
Sales are:
	Wholesale
Clients:
	Professionals of the industry in general.
Operations area:
	National, International, Local
The company imports from Worldwide
The company exports to United States
Trade References:
	As we only got an answering machine when calling the company we were unable to get the name of their suppliers for trade references.
The subject employs 200 to 300 employee(s)
Comments on staff:
	This information was not confirmed with the staff.
PAYMENTS
	regular
LOCATION
Headquarters
	This company is headquartered at 21 Albert St TRENTON, Ontario K8V 4S4 Canada.
Branches:
	The company has the following branches: -3691-3695 Weston Rd. Toronto, Ontario Canada -17452 Telephone Rd Trenton, Ontario Canada K8V 5P4. -17489 Telephone Road Trenton, Ontario Canada K8V 5P4. -220 Fraser Road Trenton, Ontario Canada K8V 5P4. -178 Stockdale Rd Trenton, Ontario Canada K8V 5P6. No other branches were found for this company. This 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:
	Dan Jess, General Operations Manager Susan Millington, Manager of Customer Development Melanie Nash, Director of Finance

Financials

COMMERCIAL TRENDS AND FORECAST

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

We have contacted the receptionist who transferred us to the voice mail of Christie Pearson, accounts payable. Although we left them a message we didn’t get an answer as of today.

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 most recent revenue found for this company is in the range of USD 25,000,000 to USD 35,000,000.

The figures had not been disclosed by the company. They were conciliated with our private sources and from a particular market approach regarding the subject’s scope of business.

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

Trenton Cold Storage inc also known as TCS Group, is a medium sized company with a staff of about 200 to 300 employees and multiple locations covering the Canadian and American market.

The structure is not only well experienced for having over 110 years in the market but it also has a fluent business relation with its foreign suppliers.

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 market approach regarding the subject’scope of business.

The estimate revenue released to our sources reflected a correct income per employee.

In addition, payments are made on a regular basis and cash flow is normal.

SUMMARY

FINANCIAL SUMMARY		DEBT COLLECTIONS AND PAYMENTS
Profitability	N.A.	Public	NO
Indebtedness	CONTROLLED	Payments	REGULAR
Cash	NORMAL

APPENDIX

Person Interviewed
	Receptionist
Comments
	She kindly confirmed that the address we had was a branch and also confirmed the company’s headquarters. However, in order to confirm further information she transferred us to the accounts payable dept. But as Ms. Christie Pearson was not available by the time we called we left a message with our contact information but we didn’t get an answer as of today.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.26
UK Pound	1	Rs.86.23
Euro	1	Rs.68.64

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.