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Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
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Name : |
BIOFERT MANUFACTURING INC. |
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Registered Office : |
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Country : |
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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 : |
Subject is based Organic Fertilizer Manufacturer, whose primary focus is manufacturing certified organic and organic based products |
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No. of Employees : |
20 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 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
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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
OFFICE ADDRESS
Unit 207, 27353 58 - Crescent,
Langley British Columbia,
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:
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Monthly Payment
Trends - Recent Activity |
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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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.69 |
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|
1 |
Rs.102.97 |
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Euro |
1 |
Rs.84.58 |
INFORMATION DETAILS
|
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 |
-- |
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.