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Report Date : |
21.08.2014 |
IDENTIFICATION DETAILS
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Name : |
RAPIDPACK CORPORATION |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.08.2012 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject designs, engineers and manufactures state of the art
bulk cargo handling machinery for
ports, trading houses and shipping company’s |
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No. of Employees |
03 |
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 : |
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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 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
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Source
: CIA |
Company name: RAPIDPACK CORPORATION
Reg. address: 2155 Leanne Blvd, Ste 215, Mississauga, Ontario L5K 2K8
Canada
Address: c/o Service Canada Corp.
215 Sheraton Corporate Centre, Toronto, Ontario
Telephone: +1 905-607-9500
Fax: +1 905-607-9400
Website: www.rapidpack.ca
Corporate ID#: 1878329
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: August 1, 2012
Stock: -
Value: -
Name of
manager: Omran ALIKHAN
Business:
The Company designs, engineers and manufactures state of the art bulk cargo handling machinery for ports, trading houses and shipping company’s around the world.
Products include bagging machines, ship loaders and conveying systems, grabs, and others.
No name of foreign suppliers available.
Staff: 3
Operations & branches:
At the
headquarters, we find the corporate office.
The Company
maintains a branch:
IMGS- International
Marine & General Services
Mazaya Business Avenue, Suite 2906,
Jumeirah Lakes Towers,
Dubai, United Arab Emirates
Shareholders:
This is a
ALIKHAN family owned and managed company.
Management:
Omran ALIKHAN, Chairman, President and Officer
Farhan ALIKHAN, Executive Director and Officer
Shahbaz ALIKHAN, Managing Director and Officer.
As far as we know, they are not involved in other local corporations.
Subsidiaries
And partnership:None
In Canada,
privately held corporations are not required to publish any financials.
We called
and left a message on the voicemail but nobody returned the call.
We sent a
fax but no answer received.
No
financials available at this time.
Banks: n/a
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Haut du formulaire
No trade
references.
No domestic
credit history.
Our
opinion:
Due to the lack
of information, we suggest you to be careful.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.66 |
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1 |
Rs.100.80 |
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Euro |
1 |
Rs.80.72 |
INFORMATION DETAILS
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Analysis Done by
: |
SUM |
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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 |
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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 |
-- |
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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.