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Report Date : |
13.07.2014 |
IDENTIFICATION DETAILS
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Name : |
CANADIAN STEEL NETWORK INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.06.1998 |
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Legal Form : |
Corporation – Profit
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Line of Business : |
Importer and exporter of steel |
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No. of Employees |
35 |
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: CANADIAN
STEEL NETWORK INC.
Address:
Canada
Telephone: +1 905-670-2900
Fax: +1 905-670-4341
Website: www.canadiansteelnetwork.com
Corporate ID#: ON-001299432
State: Ontario
Judicial form: Corporation – Profit
Date incorporated : June 9, 1998
Stock: -
Value: -
Name of
manager: Gulzar JESSANI
Business:
Importer and exporter steel
Products include prime and secondary hot rolled, cold rolled, galvanized,
electro-galvanized, pup color, ETP and TFS.
The Company exports to include Pakistan India, Bangladesh, Sri Lanka,
Hong Kong, Thailand, China, Vietnam, Egypt, Poland, and other countries.
The Company exports to India
Staff: 35
Operations & branches:
At the
headquarters, we find a warehouse and office, on lease.
Shareholders:
This is a
JESSANI family owned and managed company.
Management:
Gulzar JESSANI is the President, Director and CEO
Other Directors include Amine S. JESSANI and Amine U. JESSANI.
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 sales 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 30,000,000=
(same as
2012)
The
business is profitable.
Banks: Royal Bank of Canada
…
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: June 2014
High
credit: CAD 15,000
Now owing: 0
Past due: 0
Last
purchase: May 2014
Line of
business: Office supply
Paying
status: On terms
Date
reported: June 2014
High
credit: CAD 50,000
Now owing: 0
Past due: 0
Last
purchase: May 2014
Line of
business: Payroll
Paying
status: As agreed
Date
reported: June 2014
High
credit: CAD 800
Now owing: 0
Past due: 0
Last
purchase: May 2014
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 its 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.19 |
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1 |
Rs.103.15 |
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Euro |
1 |
Rs.81.87 |
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.