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Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
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Name : |
MARINA TEXTILES INC. |
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Registered Office : |
3535 Laird Road, Unit 11, Mississauga, Ontario L5L 5Y7 |
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Country : |
Canada |
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Date of Incorporation : |
16.06.2003 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Importers, Exporters and Wholesalers of Fabrics, Bed
Linens, Terry Towels and bathrobes, Cotton bags, Aprons, napkins, kitchen
towels, table covers, Mattress pads, quilts, pillows, Garments: woven and
knitted, Wipers and dusters Kitchen linens, mittens, pot holders, place mats,
aprons, T-shirts |
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No. of Employees : |
11 |
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
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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: MARINA TEXTILES INC.
Address: 3535 Laird Road, Unit
11, Mississauga, Ontario L5L 5Y7
Canada
Telephone: +1
905-828-8800
Fax: +1 905-828-6200
Website: www.marinatextiles.com
Corporate ID#: 6108326
State: Federal
Judicial form: Federal Corporation – Profit
A
Federal Corporation is allowed to do business in all the country.
Date incorporated: 06-16-2003
Stock: -
Value: -
Name of manager: Faheem
ADAM
Business:
Importers, Exporters and
Wholesalers of:
- FABRICS: 100% Cotton and Poly-Cottons in sheeting, twills, drills, canvas,
denim, terry, flannel, sateen in greige, bleached, dyed and printed form.
- BED LINENS: Bedsheets, pillow covers, quilt covers, fitted sheets,
comforters, bed-in-a-bag, duvets, curtains,
mattress protectors, etc.
- Terry Towels and bathrobes
- Cotton bags
- Aprons, napkins, kitchen towels, table covers
- Mattress pads, quilts, pillows,
- Garments: woven and knitted
- Wipers and dusters
- Kitchen linens: mittens, pot holders, place mats, aprons,
- T-shirts
Suppliers
include:
NANJIN TEXTILES IMP/EXP CORP.LTD
77 NORTH YUNNAN ROAD, NANJING JIANGSNANJING, CHINA
JIANGSU CHAMPION HOLDINGSLTD.
HIGH HOPE BUILDING NO.91 BAIXIA ROAD, NANJING, JIANGSU, CHINA
Staff: 11
Operations & branches:
At the headquarters, we
find the corporate office and warehouse, on lease.
Shareholders:
This is a ADAM family owned and managed company.
Management:
Faheem ADAM is the President, Director and CEO
Farhan ADAM is Director and COO.
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, a
financial assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received.
However, sales estimate for
year 2012 is in the range of CAD 2,000,000=
The business is profitable.
Banks: Scotia
Bank
Royal Bank of Canada
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.59.35 |
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UK Pound |
1 |
Rs.92.11 |
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Euro |
1 |
Rs.78.59 |
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.