|
Report Date : |
11.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
OCEAN TILE INC. |
|
|
|
|
Registered Office : |
150 Jardin Drive, Unit 6, Concord, Ontario L4K 3P9 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Date of Incorporation : |
27.06.2005 |
|
|
|
|
Legal Form : |
Corporation – Profit |
|
|
|
|
Line of Business : |
importer and wholesaler
of tile |
|
|
|
|
No. of Employees : |
05 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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 2010-12 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 |
Company name: OCEAN TILE INC.
Address: 150 Jardin Drive, Unit 6, Concord,
Ontario L4K 3P9 - Canada
Telephone: +1
905-886-2277
Fax: +1 416-642-7109
Website: -
Corporate ID#: ON-001664812
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 06-27-2005
Stock: -
Value: -
Name of manager: Hai
ZHANG
Business:
The Company is importer and wholesaler of tile.
Imports mainly from China.
Staff: 5
Operations & branches:
At the headquarters, we
find a warehouse and office, on lease.
Shareholders:
This is a ZHANG family owned and managed Company.
Management:
Hai ZHANG is the President, Director and CEO
He is also Treasurer
Jin Ming ZHANG is Director and Secretary
Mei TIAN is Director
As far as we know, they are not involved in other local corporations.
Subsidiaries
And Partnership:
None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, nobody
accepted to answer our questions.
We sent a fax but no answer
received.
Outside sources (bank) gave
estimate sales for year 2012 in the range of
CAD 500,000=
The business is said to be
profitable.
Banks: Scotia Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Trade references:
Date reported: November 2013
High credit: CAD 3,000
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Office supply
Paying status: On terms
Date reported: November 2013
High credit: USD 5,000
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Payroll
Paying status: As agreed
Date reported: November 2013
High credit: USD 600
Now owing: 0
Past due: 0
Last purchase: October 2013
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
|
Monthly Payment Trends - Recent Activity |
|
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made on terms.
Other comments:
The Company maintains a
regular business.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
12-20-2012.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.21 |
|
UK Pound |
1 |
Rs.100.65 |
|
Euro |
1 |
Rs.84.15 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.