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Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
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Name : |
CANAWEST TECHNOLOGIES INC |
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Registered Office : |
266 Royal Birch Way NW, Calgary, Alberta T3G 5Y2 |
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Country : |
Canada |
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Date of Incorporation : |
04.08.2003 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Subject is a professional valve supplier company, supplying high-quality
valve products for industrial and commercial applications, with a focus
towards the oil and gas industry. |
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No. of Employees : |
04 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 2010-12
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.
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Source : CIA |
Company name: CANAWEST TECHNOLOGIES INC.
Address: 266 Royal Birch Way NW, Calgary,
Alberta T3G 5Y2 – Canada
Mailing address: PO Box
91005, Royal Oak, Calgary, Alberta T3G 5W6 - Canada
Telephone: +1
403-800-6686
Fax: +1 403-375-0638
Website: www.canawest.com
Corporate ID#: 6124551
State: Federal
Judicial form: Federal Corporation – Profit
A Federal Corporation is allowed to do
business in all the Country.
Date incorporated: August 4,
2003
Stock: -
Value: -
Name of manager: Yingxi
LI
Business:
CanaWest Technologies Inc. is a professional valve supplier company,
supplying high-quality valve products for industrial and commercial
applications, with a focus towards the oil and gas industry.
Products include seven series: Gate valve, Ball valve (Floating Ball
valve and Trunnion Ball valve), Check valve, Butterfly valve, Plug valve, and
Strainer. Materials for the valve bodies can be carbon steel, alloy steel, and
stainless steel, i.e. WCB, WCC, WC6, WC9, C5, C12, LCB, LCC, CF8, CF8M, CF3,
CF3M, CN7M, CF8C, etc. The sizes range up to 64". The operating pressure
is up to ANSI Class 2500. The operating temperature is ranged from -196 °C to
600 °C.
The quality level of valves and services is demonstrated with the
certificates of ISO9001, API6D, API607, API6A, CE, etc.
CanaWest Technologies Inc. focuses on what the customer really wants. A
complete network of sales and service support is available throughout North
America and Asia to communicate with clients from complete solution of flow
control to the minor modification of a core design.
The engineering and quality teams work with our worldwide client to
satisfy their design and performance requirements.
The Company serves the mining, gas and oil companies.
Staff: 4
Operations & branches:
At the headquarters, we
find a warehouse and office.
Shareholders:
This is a private company.
Management:
Yingxi LI is the President
Vice Presidents include Su CHEN and Kevin CHEN.
As far as we know, they are not involved in other local corporations.
Subsidiaries
& Partnership:
None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, Ms.
Yingxi LI controlled the present report.
However, sales estimate for
year 2012 is in the range of CAD 1,000,000=
The business is profitable.
Banks: Scotia Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.74 |
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UK Pound |
1 |
Rs.88.53 |
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Euro |
1 |
Rs.75.20 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.