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Report Date : |
24.09.2013 |
IDENTIFICATION DETAILS
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Name : |
INTERSTONE MARBLE & GRANITE LIMITED |
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Registered Office : |
3240 Langstaff Road, Unit D,
Concord, Ontario L4K 4Z8 |
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Country : |
Canada |
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Date of Incorporation : |
01.01.2005 |
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Legal Form : |
Ontario Corporation |
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Line of Business : |
Importer and wholesaler
of granite, marble and tile |
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No. of Employees : |
18 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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: INTERSTONE MARBLE & GRANITE LIMITED
Address: 3240 Langstaff Road, Unit D, Concord, Ontario L4K 4Z8, Canada
Telephone: +1
905-760-1077
Fax: +1 905-760-1078
Website: www.interstone.ca
Corporate ID#: ON-0001642881
State: Ontario
Judicial form: Ontario Corporation
Date founded: 01-01-2005
Stock: -
Value: -
Name of manager: Vince
VIRGILIO
History:
A former INTERSTONE MARBLE & GRANITE LIMITED was incorporated in
January 10, 1996 under Ontario ID# ON-0001164063 and merged into the new
one on January 1st, 2005.
Business:
Importer and wholesaler of
granite, marble and tile
Suppliers include:
POLICAST MARMORES E GRANITOS LTDA
CORREGO DE SAO VITORIO, S/N, ZONA RURAL - CASTELO BRAZIL
MADHAV MARBLES & GRANITES LTD-UNI
4/36 BHARATHI STREET, SWARNAPURI, SALEM 636 004 INDIA
Staff: 18
Operations & branches:
At above address, we find a
showroom, warehouse and office, on lease.
The Company maintains a
branch located:
2679 Howard Avenue
Windsor, Ontario N8X 3X2 –
Canada
Ph: 519-967-9553
Fx: 519-967-8345
Shareholders:
This is a VIRGILIO family
owned and managed company.
Management:
Vince VIRGILIO is the
President and CEO.
As far as we know, he is
also the owner of:
A.V. Classic Tile Contractors
3240 Langstaff Road, Unit D
Concord, Ontario L4K 4Z8
Interstone Ottawa Inc.
2730 Swansea Crescent
Ottawa, Ontario K1G 6R8
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, the
manager controlled the present report.
Sales declared for year
2012 is CAD 4,000,000=
The business is profitable.
Banks: Royal Bank of Canada
Hwy 7 & Hwy 400
100-3300 Highway 7, Concord, ON L4K 4M3
Ph: 905-738-3200
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Trade references:
Date reported: July 2013
High credit: CAD 20,000
Now owing: 0
Past due: 0
Last purchase: June 2013
Line of business: Office supply
Paying status: 5 days beyond terms
Date reported: July 2013
High credit: CAD 20,000+
Now owing: 0
Past due: 0
Last purchase: June 2013
Line of business: Payroll
Paying status: As agreed
Date reported: July 2013
High credit: CAD 800
Now owing: 0
Past due: 0
Last purchase: June 2013
Line of business: Telecommunications
Paying status: 3 days beyond terms
Domestic credit history:
National Credit Bureaus
gave a medium credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made with an average of 5 to 10 days beyond terms.
International
credit history:
Payments of imports are currently made with an average of 2 days beyond
terms.
The Company is improving
its payments, but the cash is low, due to high inventories and bad conditions
of the market.
Other comments:
The bank confirmed some
late payments.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is medium.
Our opinion:
A business connection may be
conducted but we suggest you to check regularly the way of payments.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.52 |
|
|
1 |
Rs.100.26 |
|
Euro |
1 |
Rs.84.67 |
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 |
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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 |
|
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.