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Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
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Name : |
FARJESS INC. |
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Registered Office : |
c/o UPS Store 6-295 Queens Street East, Brampton, Ontario L6W 4S6 |
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Country : |
Canada |
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Date of Incorporation : |
18.01.2002 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject deals
with mild steel as hot rolled, cold rolled, galvanised, galvanneal, galvalume
and pre-painted steel. |
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No. of Employees : |
10 + part
time |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 a 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: FARJESS INC.
Trade name: FARJESS STEEL INC.
Reg. address: c/o UPS Store
6-295 Queens Street East, Brampton, Ontario L6W 4S6 – Canada
Headquarters: 70 Titan Road, Brampton, Ontario L6T 4A3, Canada
Telephone: +1 905-457-1673
Fax: +1 905-453-9788
Website: www.farjess.com
Corporate ID#: ON-001511567
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 01-18-2002
Stock: -
Value: -
Name of manager: Khursheed
ABIDI
Business:
FARJESS STEEL INC. deals with mild steel as hot rolled, cold rolled, galvanised, galvanneal, galvalume and pre-painted steel.
Suppliers include:
EIN: -
Staff: 10 + part time
Operations
& branches:
At the
headquarters, we find a warehouse and office, on lease.
Shareholders:
This is a private Company.
Management:
Nooruddin FEERASTA, President
Khursheed ABIDI, Manager
(no antecedents available)
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.
However,
sales estimate for year 2012 is in the range of CAD 5,000,000=
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
Haut du formulaire
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: CAD 15,000
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 300
Now owing: 0
Past due: 0
Last
purchase: October 2013
Line of
business: Telecommunications
Paying
status: On terms
Domestic
credit history:
National
Credit Bureaus gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic payments were made on terms.
International credit history:
Payments of imports are currently made on terms.
Other
comments:
The Company
maintains a regular business.
The bank
confirmed an account on 5 figures low.
The Company
is in good standing.
This means
that all local and federal taxes were paid on due date.
The risk is
low.
Our
opinion:
A business
connection may be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
|
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 |
|
-- |
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.