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Report Date : |
28.07.2014 |
IDENTIFICATION DETAILS
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Name : |
FIDELITY PAC
METALS LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
01.05.2012 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
distributor of stainless and
aluminum long products, pipe, valves, fittings, flanges and tube |
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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 – June 1, 2014
|
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 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: FIDELITY PAC METALS LTD
Address: 1303 North Service Road East, Unit
1,
Oakville, Ontario L6H 1A7 -
Canada
Telephone: +1
905-842-1700
Fax: +1 905-842-5802
Website: www.fidelitypac.ca
Corporate ID#: ON-001872554
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: May 1,
2012
Name of manager: Thomas
POPE
History:
The Company acquired PAC PVF Trade Inc. in 2012.
Business:
Fidelity PAC Metals
Ltd is a leading master distributor of
stainless and aluminum long products, pipe, valves, fittings, flanges and tube.
Its stainless Pipe, Valves & Fittings portfolio (PVF), includes
Welded and seamless pipe & tube, BW
fittings, 150# fittings, High pressure fittings, valves, flanges and more,
supported by a cut-to-length program, same day service and exceptional
product knowledge.
Fidelity PAC Metals Ltd was created when Fidelity Stainless and PAC
Trade merged.
Fidelity Stainless, opened in 1991 and PAC trade in 1972.
In 2010, these 2 well-known companies, came together to create Canada's
only master distributor carrying both stainless long products and stainless PVF
under 1-roof.
Fidelity PAC Metals sells exclusively to distributors.
Suppliers include:
S.P UNITED INDUSTRY SDN BHD
741-745 KAWASAN PERUSAHAAN NILAI 71 NEGERI SEMBILAN DARUL KHUSUS MALAYSIA
Staff: 20
Operations & branches:
At the headquarters, we find
a warehouse and office, on 80,000 sq. ft. owned.
Shareholders:
This is a POPE family owned
and managed company.
Management:
Thomas POPE, President, Director and CEO
Graduate from Humber College, Toronto, Ontario in 1986 with a B.A. in
marketing.
Michael POPE, Vice President and Director
As far as we know, they are not involved in other local corporations.
Subsidiaries And Partnership:
None
In United States and
Canada, privately held corporations are not required to publish any financials.
On a direct call, nobody
was available to answer our questions.
We sent a fax but no answer
received.
However, sales estimate for
year 2013 is in the range of USD 10,000,000=
The business is said to be
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
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
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UK Pound |
1 |
Rs.102.22 |
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Euro |
1 |
Rs.81.02 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
SDA |
RATING EXPLANATIONS
|
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.