|
Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
GOUDAS FOOD PRODUCTS AND INVESTMENTS LIMITED |
|
|
|
|
Registered Office : |
241 Snidercroft Road, Concord, Ontario L4K 2J8 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Year of Establishments: |
1969 |
|
|
|
|
Legal Form : |
Ontario Corporation |
|
|
|
|
Line of Business : |
producer, manufacturer and distributor of food,
including rice packed and bulked, beans, peas, vegetables in cans, pastes, tomato
products, fruits in cans, dairy products |
|
|
|
|
No. of Employees : |
60 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
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 |
|
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: GOUDAS FOOD PRODUCTS AND INVESTMENTS
LIMITED
Address: 241 Snidercroft Road, Concord,
Ontario L4K 2J8 - Canada
Telephone: +1
905-660-3232
Fax: +1 905-660-7628
Website: www.goudasfoods.com
Corporate ID#: ON-0000272890
State: Ontario
Judicial form: Ontario Corporation
Date incorporated: June 28,
1973
Date founded: 1969
Stock: -
Value: -
Name of manager: Peter
GOUDAS
Business:
Goudas Food Products and Investments Limited was founded in 1969, and
incorporated in 1971 by Peter Goudas who started out with a food packing plant,
packing rice in the basement of a grocery store.
Demand was not only generated from the core business of rice and beans,
but by the large product offering that the company developed steadily over the
years.
Today, the Company is a producer, manufacturer and distributor of food,
including rice packed and bulked, beans, peas, vegetables in cans, pastes,
tomato products, fruits in cans, dairy products, and much more.
To fuel this unprecedented growth, the company entered into partnership
agreements with a number of factories in Canada and around the world.
Brands: Mr. Goudas, Jewel Indies, Cakemaker, Brown, Lentilino, Root
Beer, Speedy Rice, and others.
The Company makes purchases in the U.S., Asia and South America and
sells to distributors and retailers in all the provinces in Canad
Suppliers include:
M.R. OVERSEAS PVT. LTD.
204, WASON CHAMBER B-9, MODEL TOWN NEW DELHI - 110009 INDIA
SUN PACKERS SRL LTDA
LOS JAZMINES 423, URBANIZACION SAN EUGENIO,
LIMA 14, PERU
Staff: 60
Operations & branches:
At the headquarters, we
find the corporate headquarters, including a factory, warehouse and office,
owned.
Shareholders:
This is a GOUDAS family
owned and managed Company.
Management:
Peter GOUDAS is the founder, President and CEO
Patricia GOUDAS is Director, Secretary and Treasurer.
As far as we know, they are not involved in other local business,
including:
P & P GOUDAS HOLDINGS
INC.
incorporated in Ontario on
September 6, 2000
ID # ON-0001437978
GOUDAS FOOD PRODUCTS CO.
LTD
incorporated in Ontario on
April 12, 1996
ID # ON-0001174821
FOUDAS FOOD REALTY INC
incorporated in Ontario
March 18, 1996
ID # ON-0001165968
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, nobody
accepted to answer our questions.
We sent 2 faxes but no
answer received.
However, sales estimate for
year 2012 is in the range of CAD 20,000,000=
Banks: HSBC Bank
250 University Avenue, Toronto, Ontario M5H 3E5
Ph: 416-868-8150
Legal filings
& complaints:
As of today date, there are several legal filing pending with the
Courts.
Secured debts summary: Several
Trade references:
Date reported: June 2013
High credit: CAD 25,000
Now owing: 0
Past due: 0
Last purchase: May 2013
Line of business: Office supply
Paying status: 15+ days beyond terms
Date reported: June 2013
High credit: CAD 200,000+
Now owing: 0
Past due: 0
Last purchase: May 2013
Line of business: Payroll
Paying status: As agreed
Date reported: June 2013
High credit: CAD 1,000
Now owing: 0
Past due: 0
Last purchase: May 2013
Line of business: Telecommunications
Paying status: 8 days beyond terms
Domestic credit history:
National Credit Bureaus
gave a medium/bad credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made with an average of 15 days beyond terms.
International
credit history:
Payments of imports are currently made with an average of 2 to 5 days
beyond terms.
Other comments:
The bank confirmed some
late payments.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is medium/high.
Our opinion:
A business connection may
be conducted but we suggest you to check regularly the way of payments.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.34 |
|
UK Pound |
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
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.