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Report Date : |
07.11.2014 |
IDENTIFICATION DETAILS
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Name : |
METRO MARINE CORP. |
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Registered Office : |
11280 Twigg Place, Unit 165 Richmond, British Columbia V6V 0A6 |
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Country : |
Canada |
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Date of Incorporation : |
25.01.2005 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is imports and sells marine equipment and supplies. |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Small Company |
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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 |
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 |
- 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: METRO MARINE CORP.
Address: 11280 Twigg Place, Unit
165 Richmond, British Columbia V6V 0A6 - Canada
Telephone: +1
604-254-1800
Fax: +1 604-254-1802
Website: -
Corporate ID#: BC-0000714700
State: British Columbia
Judicial form: Corporation – Profit
Date incorporated: 01-25-2005
Stock: -
Value: -
Name of manager: Renee
CHAN
Business:
The Company imports and sells marine equipment and supplies.
Foreign suppliers
include:
GUANGDONG WANSHIDA HOLDINGCORP.
JIANSHAN TECHNOLOGICAL AND INDUSTRIAL PARK, YANGJIANG HI TECH
DEVELOPMENT ZONE, GUANGDONG, CHINA
Staff: 3
Operations & branches:
At the headquarters, we
find a store, warehouse and office, on lease.
Shareholders:
This is a private Company.
Management:
Ms. Renee CHAN is the President, Director and CEO.
As far as we know, she 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 400,000=
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: October 2014
High credit: CAD 3,000
Now owing: 0
Past due: 0
Last purchase: September 2014
Line of business: Office supply
Paying status: On terms
Date reported: October 2014
High credit: CAD 8,000
Now owing: 0
Past due: 0
Last purchase: September 2014
Line of business: Payroll
Paying status: As agreed
Date reported: October 2014
High credit: CAD 200
Now owing: 0
Past due: 0
Last purchase: September 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 |
||
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05/14 |
$1,100 |
100% |
0% |
0% |
0% |
0% |
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06/14 |
$1,100 |
100% |
0% |
0% |
0% |
0% |
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07/14 |
$1,200 |
100% |
0% |
0% |
0% |
0% |
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08/14 |
$1,100 |
100% |
0% |
0% |
0% |
0% |
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09/14 |
$1,100 |
100% |
0% |
0% |
0% |
0% |
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10/14 |
$1,300 |
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 due date.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
This is a small business.
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.61.39 |
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1 |
Rs.98.00 |
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Euro |
1 |
Rs.76.99 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
SDA |
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.