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Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
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Name : |
GENWOOD INDUSTRIES LTD. |
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Registered Office : |
6625 Kerstel Road, Mississauga, Ontario L5T 1P4 |
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Country : |
Canada |
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Date of Incorporation : |
12.02.1973 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Importer, wholesale of veneers, lumbers, laminates, home furnishings,
wood furniture and linens. |
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No. of Employees : |
12 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
GENWOOD INDUSTRIES
LTD.
Address: 6625 Kerstel Road,
Mississauga, Ontario L5T 1P4 - Canada
Telephone: +1
905-670-2763
Fax: +1 905-670-8561
Website: www.genwood.ca
Corporate ID#: 448753
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: February 12,
1973
Stock: -
Value: -
Name of manager: Satish
CHAWLA
Business:
Importer, wholesale of veneers, lumbers, laminates, home furnishings,
wood furniture and linens.
Suppliers include:
SHIJIAZHUANG BUNAI IMP. & EXP.TRADE
7-1-2503, GUORUIYUAN, NORTH SHENGLI STREET, SHIJIAZHUANG, CHINA
Staff: 12
Operations & branches:
At the headquarters, we
find a showroom, warehouse and office.
The Company maintains a major
store, warehouse and office located:
1220 Bd Marie-Victorin
Longueuil, Quebec J4G 2H9 - Canada
Ph: +1 450-674-4957
Fx: +1 450-674-3494
Shareholders:
1st shareholder:
GWVMTL INVESTMENTS INC.
300 Rue Leo-Pariseau, Montreal, Quebec H2X 4B5 – Canada
2nd shareholder :
TANTIKA INTERNATIONAL RESOURCES INC.
9 Rue Grace Shantz, Kirkland, Quebec H9J 3A4 – Canada
3rd shareholder:
7317875 CANADA INC.
1275 The Chase, Unit 88, Mississauga, Ontario L5M 4N3 - Canada
Management:
Satish CHAWLA, President, Director and Treasurer
Brian Charles ATTRIDGE, Vice President and Secretary
As far as we know, they are involved in other corporations, including:
BOIS & PLACAGES GENERAUX (2011) LTEE
1220 Bd Marie-Victorin, Longueuil, Quebec
J4G 2H9
Incorporated in Quebec on 07-16-1940
ID# 1143146026
GENWOOD INDUSTRIES US LLC.
7709 Industry Avenue, Pico Rivera, CA 90660
Incorporated in California on June 2, 2010
ID# 201015810151
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.
Outside sources (bank) gave
estimate sales for year 2013 in the range of
CAD 5,000,000+
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: March 2014
High credit: CAD 20,000
Now owing: 0
Past due: 0
Last purchase: February 2014
Line of business: Office supply
Paying status: On terms
Date reported: March 2014
High credit: CAD 25,000
Now owing: 0
Past due: 0
Last purchase: February 2014
Line of business: Payroll
Paying status: As agreed
Date reported: March 2014
High credit: CAD 800
Now owing: 0
Past due: 0
Last purchase: February 2014
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
Monthly Payment Trends - Recent Activity
|
Date |
Up to 30 DBT |
31-60 DBT |
61-90 DBT |
>90 DBT |
||
|
10/13 |
$2,800 |
100% |
0% |
0% |
0% |
0% |
|
11/13 |
$3,100 |
100% |
0% |
0% |
0% |
0% |
|
12/13 |
$3,100 |
100% |
0% |
0% |
0% |
0% |
|
01/14 |
$3,900 |
100% |
0% |
0% |
0% |
0% |
|
02/14 |
$3,200 |
100% |
0% |
0% |
0% |
0% |
|
03/14 |
$3,300 |
100% |
0% |
0% |
0% |
0% |
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
04-25-2014.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.34 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NNA |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.