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Report Date : |
18.01.2013 |
IDENTIFICATION DETAILS
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Name : |
ROYAL CANADIAN STEEL INC |
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Registered Office : |
70 Titan Road, Brampton, Ontario L6T 4A3 |
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Country : |
Canada |
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Date of Incorporation : |
14.03.1990 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is engaged in steel export and steel service like, stainless steel,
cold rolled steel, galvanized steel, slitting line, etc. |
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No. of Employees : |
35 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 |
Company name: ROYAL CANADIAN STEEL INC.
Address: 70 Titan Road, Brampton,
Ontario L6T 4A3 - Canada
Telephone: +1
905-454-7274
Fax: +1 905-454-7220
Website: www.royalcanadiansteel.com
Corporate ID#: 000887652
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 03-14-1990
Stock: -
Value: -
Name of manager: Feroz
Ali JESSANI
Business:
Since its establishment in 1990, Royal Canadian Steel has become one of
the leading steel service and steel export centers in Canada and United States.
Products include secondary and excess prime steel: stainless steel, cold rolled
steel, galvanized steel, slitting line, cut-to-length line, sheeting/scrolling
line, hot rolled, hot rolled p&o, cold rolled, galvanized, satin
coat/galvanealed, pre-painted, tinplate, and others.
The Company imports from China, India and Pakistan mainly.
Exports to the United States.
Staff: 35
Operations & branches:
At the headquarters, we
find a large warehouse and office, Owned.
Shareholders:
Feroz Ali JESSANI is the
major shareholder.
He is well known and appreciated.
Management:
Feroz Ali JESSANI is the
President and CEO;
As far as we know, he is 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, a sales
assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received.
Outside sources (bank) gave
estimate sales for year 2011 in the range of
CAD 30,000,000=
The business is profitable.
Banks: HSBC Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
None
Haut du formulaire
Trade references:
Date reported: December 2012
High credit: CAD 3,000
Now owing: 0
Past due: 0
Last purchase: November 2012
Line of business: Office supply
Paying status: On terms
Date reported: December 2012
High credit: CAD 80,000+
Now owing: 0
Past due: 0
Last purchase: November 2012
Line of business: Payroll
Paying status: As agreed
Date reported: December 2012
High credit: CAD 500
Now owing: 0
Past due: 0
Last purchase: November 2012
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
|
Monthly Payment Trends - Recent Activity |
|
Date |
Up to 30 DBT |
31-60 DBT |
61-90 DBT |
>90 DBT |
||
|
07/12 |
$3,800 |
100% |
0% |
0% |
0% |
0% |
|
08/12 |
$3,500 |
100% |
0% |
0% |
0% |
0% |
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09/12 |
$3,600 |
100% |
0% |
0% |
0% |
0% |
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10/12 |
$3,600 |
100% |
0% |
0% |
0% |
0% |
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11/12 |
$3,100 |
100% |
0% |
0% |
0% |
0% |
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12/12 |
$3,500 |
100% |
0% |
0% |
0% |
0% |
National Credit Bureaus
gave a satisfying credit rating.
International
credit history:
Payments of imports are currently 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.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.64 |
|
|
1 |
Rs.87.45 |
|
Euro |
1 |
Rs.72.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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 |
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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.