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Report Date : |
08.10.2013 |
IDENTIFICATION DETAILS
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Name : |
BIOFERT MANUFACTURING INC. |
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Registered Office : |
9259 Main Street, Chilliwack, British Columbia V2P 6K2 |
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Country : |
Canada |
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Date of Incorporation : |
07.03.2007 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Manufacturing certified organic and organic based products |
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No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Canada |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Company name: BIOFERT MANUFACTURING INC.
Headquarters: 9259 Main Street, Chilliwack, British
Columbia V2P 6K2 Canada
Telephone: +1 604-530-1344
Fax: +1 604-530-1346
Website: www.biofert.net
Corporate ID#: 6703551
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: March 7,
2007
Stock: -
Value: -
Name of manager: Yasir
Muhammad SYED
Business:
BioFert Manufacturing Inc. is a Canada based Organic Fertilizer
Manufacturer, whose primary focus is manufacturing certified organic and
organic based products, or what we call “Earth Friendly” products.
BioFert was established in August 2006 with the vision of providing high
efficacy, non-toxic, biodegrable and eco-friendly plant fertilizers
for commercial farming and home gardening use. Under commercial farming
category, BioFert caters to all segments including certified organic
crops, open field crops, greenhouse crops, fruits and vegetable,
nurseries, turf, landscape, etc.
BioFert manufactures a wide range of specialized nutrients and
supplements in both liquid and granular form which include crop specific and general
products. The company also undertakes custom blending on large scale for a
number of local and international companies.
Current manufacturing capacity is about 35,000 - 40,000 MT (metric ton)
per year depending on product mix.
Suppliers include:
NANJING XINLEILI FEED COMPANY
Hengshan Lake, Hengxi Town, Nanjin, Jiangsu, China 211155
Staff: 20
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, owned.
5721 Production Way
Langley, British Columbia
V3A 4N5
Canada
Shareholders:
This is a private Company.
Management:
Yasir Muhammad SYED is the President, Director and CEO
He obtained his business degree from University of Oklahoma, USA in
1992.
Dr. Tahir MAHMOOD is the Vice President and Director.
He holds a PhD in Soil Science & Plant Nutrition with a focus on
enhancing nutrient uptake and utilization efficiency in plants.
He has authored and co-authored a number of research papers and articles
in various publications around the world.
Subsidiaries
And partnership: None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, nobody
accepted to answer our questions.
We sent a fax but no answer
received.
Sales declared for fiscal
year ending March 2013 is in the range of
CAD 10,000,000=
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
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 35,000+
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:
Domestic credit history
appears as follow:
Monthly Payment Trends - Recent Activity
|
Date |
Up to 30 DBT |
31-60 DBT |
61-90 DBT |
>90 DBT |
||
|
03/13 |
$40,300 |
100% |
0% |
0% |
0% |
0% |
|
04/13 |
$37,800 |
100% |
0% |
0% |
0% |
0% |
|
05/13 |
$38,800 |
100% |
0% |
0% |
0% |
0% |
|
06/13 |
$36,800 |
100% |
0% |
0% |
0% |
0% |
|
07/13 |
$38,100 |
100% |
0% |
0% |
0% |
0% |
|
08/13 |
$38,800 |
100% |
0% |
0% |
0% |
0% |
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.
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
March 7, 2012.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.78 |
|
|
1 |
Rs.99.06 |
|
Euro |
1 |
Rs.83.84 |
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 |
|
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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.