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Report Date : |
18.06.2014 |
IDENTIFICATION DETAILS
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Name : |
BREMO INC. |
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Registered Office : |
214 Route 138, Saint-Augustin-de-Desmaures, Quebec G3A 2X9 |
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Country : |
Canada |
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Date of Incorporation : |
04.04.1994 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is importer of conveyor belting, rubber lagging, elevator belt
components, polyurethane moulded components… |
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No. of Employees : |
150 |
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
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately 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 |
BREMO INC.
Address: 214 Route 138, Saint-Augustin-de-Desmaures,
Quebec G3A 2X9, Canada
Telephone: +1 418-878-2288
Fax: +1 855-878-1613
Website: www.rematechbremo.com
Corporate ID#: 1165155632
State: Quebec
Judicial form: Corporation – Profit
Date incorporated: May 1,
2008
Date founded: April
4, 1994
Stock: -
Value: -
Name of manager: Andre
MORIN
History:
Business issued from the
merger of:
BREMO INC. (Quebec ID#
1162942982)
9086-5924 QUEBEC INC
(Quebec ID# 1149070204)
Business:
The Company is importer of conveyor belting, rubber lagging, elevator
belt components, polyurethane moulded components…
The Company is also doing business as JOINTEMENT INTER, LES SERVICES
BELTECH,
MULTIMAT, REMATECH, REMATECH DIVISION BREMO, REMTAN, et SERVICES MIREK.
Brands/suppliers include FLEXCO, TAPCO, REMA TIP TOP, METSO, GOODYEAR…
Staff: 150
Operations & branches:
At the headquarters, we
find a large warehouse and office.
The Company maintains
several branches in Canada.
Shareholders:
1st shareholder:
MANTIS INVESTMENTS INC. (+50%)
C/O The Company Corporation
2711 Centerville Road, Ste
400, Wilmington, DE 19808 – USA
2nd shareholder:
Alain JOLICOEUR
106 Rue de Vincy, Levis, Quebec G7A 1W2 – Canada
3rd shareholder :
Michael MATHIEU
3973 Rue Gilles, Villeneuve, Quebec G1X 4X4 - Canada
Management:
Andre MORIN, President
John BREHENY, Pierre SYLVAIN, Directors
Alain JOLICOEUR is the Manager.
Subsidiaries
And partnership: None
In 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 excess of CAD 10,000,000+
The business is said to be
profitable.
Banks: Banque de Montreal
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Trade references:
Date reported: May 2014
High credit: CAD 30,000
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 200,000
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 2,000
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 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
01-14-2014.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.60.37 |
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|
1 |
Rs.102.48 |
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Euro |
1 |
Rs.81.87 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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Report Prepared
by : |
NNA |
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.