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Report Date : |
04.03.2014 |
IDENTIFICATION DETAILS
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Name : |
KOTCAN INC. |
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Registered Office : |
3330 Riedgway Drive, Unit 13/14 Mississauga, Ontario L5M 7V1 |
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Country : |
Canada |
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Date of Incorporation : |
01.03.2002 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Subject provides cheap granite countertop installation and marble slabs in Mississauga, Brampton and Toronto, Ontario |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
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 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 |
Your order on: GRANITE & MARBLE DIRECT
This is a fictitious name used by: KOTCAN INC.
Company name: KOTCAN INC. (Correct Name)
Address: 3330 Riedgway Drive, Unit 13/14
Mississauga, Ontario L5M 7V1 - Canada
Telephone: +1 905-569-7535
Fax: +1 905-569-8690
Website: www.graniteandmarbledirect.ca
Corporate ID#: 4021126
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: March 1, 2002
Stock: -
Value: -
Name of
manager: Asif JAMAL
Business:
Granite & Marble Direct provides cheap granite countertop installation and marble slabs in Mississauga, Brampton and Toronto, Ontario.
Suppliers include:
TESTI DO BRASIL MARMORES E GRANITOS LTDA
ESTRADA SAO JOAQUIM, S/N, DISTR. IND. SAO JOAQUIM - MORRO GRANDE CACHOEIRO DE TAPEMIRIM BRAZIL
Staff: 2
Operations
& branches:
At the
headquarters, we find a small warehouse and office.
Shareholders:
This is a
JAMAL family owned and managed company.
Management:
- Asif JAMAL
- Neelofar JAMAL
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, nobody accepted to answer our questions.
We sent a
fax but no answer received.
However,
sales estimate for fiscal year ending March 2013 is in the range of USD
600,000=
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: January 2014
High
credit: CAD 3,000
Now owing: 0
Past due: 0
Last
purchase: December 2013
Line of
business: Payroll
Paying
status: As
agreed
Date
reported: January 2014
High
credit: CAD 300
Now owing: 0
Past due: 0
Last
purchase: December 2013
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 due date.
Other
comments:
The Company
is NOT in good standing.
Local and
federal taxes were NOT paid since 2012.
The risk is
high.
Our
opinion:
We suggest
you to be careful.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
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|
1 |
Rs.103.52 |
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Euro |
1 |
Rs.85.31 |
INFORMATION DETAILS
|
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 |
-- |
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.