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Report Date : |
16.05.2014 |
IDENTIFICATION DETAILS
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Name : |
VISION METALIZERS INC. |
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Registered Office : |
6145 Ordan Drive, Ste 1, Mississauga, Ontario L5T 2C9 – |
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Country : |
Canada |
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Date of Incorporation : |
09.11.1995 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Manufacture of safety and security mirrors (convex mirrors, flat
mirrors and dome mirrors), CCTV camera housing, lighting diffusers, and much
more |
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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 – March 31, 2014
|
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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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 |
VISION METALIZERS INC.
Address: 6145
Ordan Drive, Ste 1, Mississauga, Ontario L5T 2C9 – Canada
Telephone: +1
905-272-4044
Fax: +1 905-362-0238
Website: www.visionmetalizers.com
Corporate ID#: OO1155032
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: November
9, 1995
Stock: -
Value: -
Name of manager: Sahil
BANDHARI
Business:
Manufacture of safety and security mirrors (convex mirrors, flat mirrors
and dome mirrors), CCTV camera housing, lighting diffusers, and much more.
Office
of the Foreign Assets Control (OFAC):
Suppliers include:
NANJING YUN FAN TECHNOLOGY INDUSTRY
NO 127 PU ZHU ROAD NANJING CHINA
CHINA SUN CONTINENTAL ENTERPRISE LTD
NO 127 PUZHOU NORTH ROAD NANJING CHINA
Staff: 20
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, on lease.
Shareholders:
This is a BHANDARI family
owned and managed Company.
Management:
Sahil BHANDARI is the President, Director and CEO.
As far as we know, he is 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
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 CAD 3,500,000=
The business is said to be
profitable.
Banks: Royal Bank of Canada
6240 Dixie Rd, Mississauga, Ontario L5T 1A6
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: April 2014
High credit: CAD 15,000
Now owing: 0
Past due: 0
Last purchase: March 2014
Line of business: Office supply
Paying status: On terms
Date reported: April 2014
High credit: CAD 35,000
Now owing: 0
Past due: 0
Last purchase: March 2014
Line of business: Payroll
Paying status: As agreed
Date reported: April 2014
High credit: CAD 800
Now owing: 0
Past due: 0
Last purchase: March 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 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.
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.59.47 |
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1 |
Rs.99.70 |
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Euro |
1 |
Rs.81.55 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
PDT |
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.