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Report Date : |
07.03.2013 |
IDENTIFICATION DETAILS
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Name : |
EMPIRE STEEL INC. |
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Registered Office : |
30 Milton Avenue, Hamilton, Ontario L8H 7S7 |
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Country : |
Canada |
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Date of Incorporation : |
14.09.2009 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and wholesaler, exporter, trader of steel products. |
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No. of Employees : |
1 |
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 : |
Small Company |
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Payment Behaviour : |
Regular |
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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 (31.03.2011) |
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.
Source
: CIA
Company name: EMPIRE STEEL INC.
Address: 30 Milton Avenue, Hamilton, Ontario
L8H 7S7 - Canada
Telephone: +1 905-544-3217
Fax: +1 905-544-8358
Website: -
Corporate ID#: 2217661
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 09-14-2009
Stock: -
Value: -
Name of manager: Sarah
HAMDI
History:
Business moved recently
from:
1632 Burlington Street,
East Hamilton, Ontario.
Business:
Importer and wholesaler, exporter, trader of steel products.
No name of foreign suppliers available.
Staff: 1
Operations & branches:
At the headquarters, we
find a corporate office.
Shareholders:
This is a private company.
Management:
Sarah HAMDI is the only
Director.
As far as we know, she 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
Secretary controlled the address but deferred any other information.
We sent a fax but no answer
received.
No financials available.
Banks: n/a
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Trade references:
Date reported: February 2013
High credit: CAD 500
Now owing: 0
Past due: 0
Last purchase: January 2013
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
No sufficient credit
history available.
Other comments:
The Company maintains a
regular business.
No report filed since
incorporation of the Company.
Our opinion:
We suggest you to be
careful.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.54.71 |
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|
1 |
Rs.82.79 |
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Euro |
1 |
Rs.71.43 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
-- |
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.