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Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
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Name : |
CN GLOBAL DISTRIBUTOR INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.06.2009 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Importer of cash registers, shopping baskets, shopping carts, paper rolls and labels |
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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 : |
Small Company |
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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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
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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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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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
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Source
: CIA |
Company name: CN GLOBAL DISTRIBUTOR INC.
Headquarters: 2800 14th Avenue, Unit 11, Markham, Ontario L3R 0E4 - Canada
Telephone: +1 416-741-6666
Fax: +1 416-741-9660
Website: www.cngd.ca
Corporate ID#: 718953
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated June 1, 2009
Stock: -
Value: -
Name of
manager: Jianyong ZHANG
Business:
The Company is importer of cash registers, shopping baskets, shopping carts,
paper rolls and labels…
Sells to supermarkets in all the country.
Brands: Sharp, Toshiba, Digi, Logivision…
Staff: 3
Operations
& branches:
At the
headquarters, we find the corporate office, on lease.
The Company
maintains a branch located:
90 Signet
Drive, Unit 19
North York,
Ontario M9L 1T5 - Canada
Shareholders:
Jianyong
ZHANG is a major shareholder.
Management:
Jianyong ZHANG is the Director and CEO.
No antecedents available.
As far as we know, he is not involved in other local corporations.
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.
However,
sales estimate for year 2013 is in the range of CAD 300,000=
The
business is said to be 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: May 2014
High
credit: CAD 3,000
Now owing: 0
Past due: 0
Last
purchase: April 2014
Line of
business: Office supply
Paying
status: On terms
Date
reported: May 2014
High
credit: CAD 3000
Now owing: 0
Past due: 0
Last
purchase: April 2014
Line of
business: Payroll
Paying
status: As agreed
Date
reported: May 2014
High
credit: CAD 200
Now owing: 0
Past due: 0
Last
purchase: April 2014
Line of
business: Telecommunications
Paying
status: On terms
Domestic
credit history:
National
Credit Bureaus gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic payments were made on terms.
International credit history:
Payments of imports are currently made on terms.
Other
comments:
The Company
maintains its business.
The Company
is in good standing.
This means
that all local and federal taxes were paid on due date.
Last
meeting was held on June 1, 2014.
The risk is
low.
Our
opinion:
A business
connection may be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.88 |
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1 |
Rs.102.59 |
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Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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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.