|
Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
7096933 CANADA INC. |
|
|
|
|
Registered Office : |
965 Rue Bergar, Laval, Quebec H7L 4Z6 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Date of Incorporation : |
1966 |
|
|
|
|
Legal Form : |
Federal Corporation – Profit |
|
|
|
|
Line of Business : |
The Subject distributes food, confectionary, household, health, and
beauty care products |
|
|
|
|
No. of Employees : |
25 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 a 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 |
MAGID BROTHERS DISTRIBUTION INC.
On December 1, 2009, name changed to:
Company name: 7096933 CANADA INC.
Address: 965 Rue Bergar, Laval, Quebec H7L 4Z6
- Canada
Telephone: +1
450-629-3737
Fax: +1 450-629-1809
Website: www.imagid.com
Corporate ID#: 7096933
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 12-19-2008
Date founded: 1966
Stock: -
Value: -
Name of manager: Jeffrey MAGID
Business:
Founded in 1966, the company distributes food, confectionary, household,
health, and beauty care products in Canada.
The company’s products include chocolates, cookies, grocery, seafood,
pastries and other treats, beauty soaps, scrubs, lotions, and air-care and
other household items. It also provides product introduction services for
international companies seeking to market products in North America.
The company was founded in 1966 and is based in Laval, Canada.
Main brands include SOLEN, LADY SARA, BEAVER, CLUB SUPREME, ALIBI,
The Company is doing business as:
|
ALIBI® |
|
|
AREL SALES |
|
|
BEAVER® |
|
|
CASTELLO DI SANTORRO® |
|
|
CLUB SUPREME® |
|
|
DELICIUM® |
|
|
DISTRIBUTION FRÈRES MAGID |
|
|
I. MAGID |
|
|
IMPORTATIONS FRÈRES MAGID |
|
|
J.W. WINDSOR |
|
|
LADY SARAH® |
|
|
MAGID BROTHERS DISTRIBUTION |
|
|
MAGID BROTHERS IMPORTS |
|
|
MAGID, I. |
|
|
MARQUES MAGID BRANDS® |
|
|
SMILE® |
|
|
VENTES AREL |
|
|
VITALA® |
|
|
WINDSOR J.W. |
|
Staff: 25
Operations & branches:
At the headquarters, we
find a large supermarket, warehouse and office, owned.
Shareholders:
9153-7001 QUEBEC INC. +50%
2883 Rue Gaetan Labreche, Montreal, Quebec H4R 2T2
Vincent SANTORO
4589 Rue Harris, Laval, Quebec H7T 2N9
Management:
Jeffrey MAGID, President and Director
Other Directors include Alan MAGID and Michael MAGID.
Subsidiaries
And 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.
Sales declared for year
2012 is in the range of CAD 10,000,000+
The business is profitable.
Banks: Banque de Montreal
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Haut du formulaire
Trade references:
Date reported: August 2013
High credit: CAD 50,000
Now owing: 0
Past due: 0
Last purchase: July 2013
Line of business: Office supply
Paying status: On terms
Date reported: August 2013
High credit: CAD 30,000+
Now owing: 0
Past due: 0
Last purchase: July 2013
Line of business: Payroll
Paying status: As agreed
Date reported: August 2013
High credit: CAD 600
Now owing: 0
Past due: 0
Last purchase: July 2013
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made on terms.
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.
Last report was filed on 06-27-2013.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.35 |
|
|
1 |
Rs.101.20 |
|
Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.