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Report Date : |
02.10.2013 |
IDENTIFICATION DETAILS
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Name : |
DIESEL CANADA INC. |
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Registered Office : |
9500 Rue Meilleur, Ste 800, Montreal, Quebec H2N 2B7 |
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Country : |
Canada |
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Financials (as on) : |
2013 |
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Date of Incorporation : |
28.07.2006 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Importer
and wholesaler of clothing apparel and accessories. |
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No. of Employees : |
45 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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
DIESEL CANADA INC.
Address: 9500 Rue Meilleur, Ste 800, Montreal, Quebec H2N 2B7 –
Canada
Telephone: +1 514-385-3335
Fax: +1 514-388-0284
Website: www.diesel.com
Corporate ID#: 4378059
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 07-28-2006
Stock: -
Value: -
Name of
manager: Joelle BERDUGO
Business:
The Company
is importer and wholesaler of clothing apparel and accessories.
Sells to “DIESEL” stores in Quebec and Ontario.
The Company is using the following registered business names and trademarks:
|
CLOTHESLINE APPAREL |
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DIESEL |
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DIESEL FOR SUCCESFUL LIVING ® |
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DIESEL FOR SUCCESSFUL LIVING ® |
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DIESEL INDUSTRY DENIM DIVISION
& DESIGN ® |
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DIESEL ONLY THE BRAVE &
DESIGN ® |
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MODERN BASIC ® |
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VÊTEMENTS CLOTHESLINE |
Suppliers include:
Radiant
Development Ltd.
Unit 1616, 16/F, New Tech Plaza, 34
Tai Yau Street, San Po Kong, Kowloon,
Hong Kong
Staff: 45
Operations
& branches:
At the
headquarters, we find the corporate office and showroom, on lease.
Shareholders:
DIESEL SpA
4-6 Dell’Industria, Breganze (VI) 36042 - Italy
Management:
Joelle BERDUGO, President, Director and CEO
Graduate from Concordia University.
In 1984 she entered the fashion world working for Sergio Valente.
By 1987 she and her husband Louis Adler (+) had secured Canadian exclusivity for the Italian-based Diesel brand. The couple’s decision to put all of their resources in Diesel Canada in 1993 was a risk, but instrumental in building what became the enormously successful Canadian house of a world-leading denim brand.
She is involved in several foundations in Canada.
Maria TOSIN is Director.
As far as we know, they are involved in other local corporations, including:
DIESEL CANADA RETAIL INC.
9500 Rue Meilleur, Ste 800, Montreal, Quebec H2N 2B7
Federal Corporation
Incorporated on February 1, 2008
ID# 4467680
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 fiscal year August 2012 to July 2013 is in the range of
CAD
12,000,000=
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 40,000
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 60,000+
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 due date.
International credit history:
Payments of imports are currently made on terms.
Other
comments:
The Company
maintains a strong business.
The bank
confirmed a regular account.
The Company
is in good standing.
This means
that all local and federal taxes were paid on due date.
Last report
was filed on 04-25-2013.
The risk is
low.
Our
opinion:
A business
connection may be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
|
1 |
Rs.101.20 |
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Euro |
1 |
Rs.84.54 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
|
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.