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Report Date : |
11.07.2014 |
IDENTIFICATION DETAILS
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Name : |
STORCHEM, INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
25.09.1992 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
·
Trader
and distributor of specialty and Commodity Chemicals to consumers in Subject Serves Paint and Coatings, Metal Cleaning and
Finishing, Adhesives and Sealants, Specialty Chemicals, Photographic
Chemicals, Pharmaceuticals, Lubricants and Greases, as well as Plastic and
Resin Markets Subject products ranges include Bromide Chemicals,
Solvents, Specialty Chemicals, Dry Chemicals, Alcohols, Polyols/Glycols,
Monomers, Vanadium Chemicals, Resin Intermediates, and Plasticizers. |
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No of Employees : |
05 |
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 – 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: STORCHEM, INC.
Address: 855 Harrington court,
Burlington, Ontario L7N 3N1 - Canada
Telephone: +1
905-639-9700
Fax: +1 905-639-5244
Website: www.storchem.com
Corporate ID#: 001002301
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 09-25-1992
Name of manager: Vadym
KORSH
History:
Business relocated at above
address on March 1, 2013.
Business:
Storchem, Inc. trades and distributes specialty and commodity chemicals
to consumers in North America. Its products include bromide chemicals, solvents,
specialty chemicals, dry chemicals, alcohols, polyols/glycols, monomers,
vanadium chemicals, resin intermediates, and plasticizers.
The company serves paint and coatings, metal cleaning and finishing,
adhesives and sealants, specialty chemicals, photographic chemicals,
pharmaceuticals, lubricants and greases, and plastic and resin markets.
Storchem, Inc. was founded in 1992 and is based in Burlington, Canada.
Suppliers include:
TIANJIN CHENGYI INTERNATIONAL TRADI
RM 801 HONGFU BUILDING, NO 31 SOUT TAIYUAN SX 030000 CHINA
Staff: 5
Operations & branches:
At the headquarters, we
find the corporate office.
Shareholders:
This is a private Company.
Management:
Vadym KORSH, President, Director and CEO
Bachelor of Science in Chemical Engineering – University of Toronto
Mark KORSH, Vice President of Operations
Honours Bachelor of Arts in Sociology with Minor in Business
Administration – University of Toronto
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.
On a direct call, a
financial assistant controlled the present report.
Sales declared for year 2013
is in the range of CAD 10,000,000=
The business is profitable.
Banks: HSBC Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.59.88 |
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UK Pound |
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 : |
MNL |
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.