|
Report Date : |
16.04.2014 |
IDENTIFICATION DETAILS
|
Name : |
HARI STONES LTD. |
|
|
|
|
Registered Office : |
13042 84th Avenue, Surrey, British Columbia V3W 1L2 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Date of Incorporation : |
28.03.1998 |
|
|
|
|
Legal Form : |
Limited Company |
|
|
|
|
Line of Business : |
Importers and distributors of natural stones. |
|
|
|
|
No. of Employees |
40 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Canada |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
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 high 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 merchandise exports each year. Canada is the US's largest foreign supplier of energy, including oil, gas, uranium, and electric power. Given its abundant 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 2010-13 and plans to balance the budget by 2015. In addition, the country's petroleum sector is rapidly expanding, because Alberta's oil sands significantly boosted Canada's proven oil reserves. Canada now ranks third in the world in proved oil reserves behind Saudi Arabia and Venezuela
|
Source
: CIA |
Company name: HARI STONES LTD.
Address: 13042 84th Avenue, Surrey, British Columbia V3W 1L2
Canada
Telephone: +1 604-599-4274
Fax: +1 604-502-8478
Website: www.haristoneslimited.com
Corporate ID#: BC-0000565357
State: British Columbia
Judicial form: Limited Company
Date incorporated: 03-28-1998
Stock: -
Value: -
Name of
manager: Krishan SHARMA
Business:
Hari Stones Limited is one of Western Canada’s leading importers and distributors of natural stones.
The selections in tiles and slabs for granite, marble, slate, onyx, travertine, limestone & sandstone are sourced from one of the best quarries in the world.
Some of them are imported from Asia, Brazil, Europe, North America, South America, Portugal, Middle East, etc.
Suppliers
include:
XIAMEN UNITED GLOBAL IMPORT & EXPORT CO., LIMITED
ROOM 501, TOWER C3, WANDA PLAZA, XIAMEN, CHINA
THOR NORDESTE GRANITOS
LTDA
E TDR NORTE SN STO AGOSTINHO CABO STO AGOSTINHO, BRAZIL
Staff: 40
Operations
& branches:
At the
headquarters, we find a large showroom, warehouse and office, Oon 35,000 sq.
feet, owned.
The Company
maintains branches located:
14269 Hawkstream Drive
Surrey, British Columbia V3W 0V1
Ph: +1 604-598-1450
Unit#8 - 920 Leathead
Road
Kelowna, British Columbia V1X 2J8
Ph: +1 250 491 4274
Fx: +1 250 807 4274
Since November 9, 2009, the Company is also
allowed to do business in Alberta, under ID# AB-2114944277BC
The Alberta branch is located:
10439 176 Street
Edmonton, Alberta T5S 2E4
Ph: +1 780 455 4274
Fx: +1 780 481 4274
Shareholders:
This is a
privately held and managed company.
Management:
Krishan SHARMA is the President, Director and CEO
Alok KANSAL and Atul KANSAL are Vice President and Directors.
As far as
we know, they are not involved in other local business.
Subsidiaries
&
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.
Outside
sources (bank) gave estimate sales for year 2013 in the range of
CAD
10,000,000= (same as 2012)
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
Trade
references:
Date
reported: February 2014
High
credit: CAD 20,000
Now owing: 0
Past due: 0
Last
purchase: January 2014
Line of
business: Office supply
Paying
status: 3 days beyond terms
Date
reported: February 2014
High
credit: USD 45,000+
Now owing: 0
Past due: 0
Last
purchase: January 2014
Line of
business: Payroll
Paying
status: As agreed
Date reported: February 2014
High
credit: USD 600
Now owing: 0
Past due: 0
Last
purchase: January 2014
Line of
business: Telecommunications
Paying
status: 3 days beyond terms
Domestic
credit history:
National
Credit Bureaus gave a correct credit rating.
According to our credit analysts, during the last 6 months, domestic payments were made with an average of 3 days beyond terms.
International credit history:
Payments of imports are currently made on terms.
Other
comments:
The bank confirmed
some late payments but remains confident.
The Company
is in good standing.
This means
that all local and federal taxes were paid on due date.
The risk is
medium/low.
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.60.26 |
|
|
1 |
Rs.101.71 |
|
Euro |
1 |
Rs.83.27 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NIS |
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.