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Report Date : |
11.08.2014 |
IDENTIFICATION DETAILS
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Name : |
SUNRISE METALS, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
12.09.2003 |
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Legal Form : |
Corporation –
Profit |
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Line of Business : |
Importer and Exporter of Scrap Metal and Secondary Steel. |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Canada |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 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 & address
SUNRISE METALS, INC.
Address: 500 Sherman Ave
North, 2nd Floor, Hamilton, Ontario L8L 8J6
Canada
Telephone: +1 905-544-4687
Fax: +1 905-744-7687
Website: www.sunrisemetals.com
Corporate ID#: ON-002032461
State: Ontario
Judicial form: Corporation –
Profit
Date incorporated: September 12, 2003
Stock: -
Value: -
Name of manager: Amandeep KALOTI
ACTIVITIES
& OPERATIONS
HISTORY:
Office moved from 42 Keefer Court,
Ste 2, Hamilton, Ontario L8E 4V4 - Canada
BUSINESS:
The Company is importer and exporter of scrap metal and secondary steel.
SUPPLIERS INCLUDE:
CANSTEL GLOBAL
HD 40 PHASE VI, FOCAL POINT LUDHIANA PB 141010 INDIA
Staff: 15
OPERATIONS & BRANCHES:
At the headquarters, we
find the corporate office.
The Company maintains its
production and warehouse located:
500 Sherman Ave North, Hamilton, Ontario L8L 8J6
SHAREHOLDERS & MANAGERS
SHAREHOLDERS:
This is a private Company.
Management
Amandeep KALOTI is the
President, Director and CEO.
As far as we know, he is also the President of:
SUNRISE METALS (SHERMAN) INC.
500 Sherman Ave North, 2nd Floor, Hamilton, Ontario L8L 8J6
Canada
FINANCIALS
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received.
However, sales estimate for
year 2013 is in the range of CAD 10,000,000=
The business is profitable.
Banks
Royal Bank of Canada
LEGAL FILINGS
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC):
None
COMPANY
CREDIT HISTORY
TRADE REFERENCES:
Date reported: July 2014
High credit: CAD 15,000
Now owing: 0
Past due: 0
Last purchase: June 2014
Line of business: Office supply
Paying status: On terms
Date reported: July 2014
High credit: CAD 25,000
Now owing: 0
Past due: 0
Last purchase: June 2014
Line of business: Payroll
Paying status: As agreed
Date reported: July 2014
High credit: CAD 300
Now owing: 0
Past due: 0
Last purchase: June 2014
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 |
||
|
02/14 |
$3,700 |
100% |
0% |
0% |
0% |
0% |
|
03/14 |
$3,500 |
100% |
0% |
0% |
0% |
0% |
|
04/14 |
$3,400 |
100% |
0% |
0% |
0% |
0% |
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05/14 |
$3,600 |
100% |
0% |
0% |
0% |
0% |
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06/14 |
$3,300 |
100% |
0% |
0% |
0% |
0% |
|
07/14 |
$3,300 |
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.
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.
The risk is low.
Our
opinion
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.55 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
TPT |
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.