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Report Date : |
06.11.2014 |
IDENTIFICATION DETAILS
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Name : |
URBAN RAGS CLOTHING INC. |
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Registered Office : |
9130 Avenue du Parc, Montreal, Quebec H2N 1Z2 |
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Country : |
Canada |
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Date of Incorporation : |
02.08.1994 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and wholesaler men’s clothing. |
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No. of Employees : |
35 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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 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 |
Company name: VETEMENTS
URBAN RAGS INC. (in French)
URBAN RAGS CLOTHING INC. (in English)
Address: 9130
Avenue du Parc, Montreal, Quebec H2N 1Z2 - Canada
Telephone: +1
514-384-6922
Fax: +1
514-384-2870
Website: -
Corporate ID#: 3056473
State: Federal
Judicial form: Corporation
– Profit
Date incorporated: August 2, 1994
Stock: -
Value: -
Name of manager: Vant TASHDJIAN
Business:
Importer and wholesaler men’s clothing.
The
Company is using several brand names:
A.W.O.L., BABYDOLL, COLORADO JEAN CO,
FANTOME, KAMOTEK, KARIBOU OUTFITTERS,
MALAMUTE, MYLWEST, NINETY, ROADSTER, ROCK
AND ROLL INC, SOYA, SURF GURU, URBAN DISTRICT, URBAN MAVERICK, URBAN VINTAGE,
VINTAGE 55, VOLTAGE SYSTEM, And WAVERIDER.
Office of the Foreign Assets Control (OFAC):
The company is not listed on the OFAC list.
The Specially Designated Nationals (SDN)
List is a publication of OFAC which lists individuals and organizations with
whom United States citizens and permanent residents are prohibited from doing
business.
Foreign
suppliers include:
LOTUSLAND INTERNATIONAL CO., LTD.
FLAT A, 15F, HILLIER COMMERCIAL BLDG 65-67
BONHAM STRAND EAST SHEUNG WAN
HONG KONG
YIWU MIC SOURCING CO.,LTD
SUITE 0228, NO.55 WEST CHENGZHONG ROAD YIWU,
ZHEJIANG CHINA
Staff: 35
Operations & branches:
At the headquarters, we find a warehouse and office.
Shareholders:
1st shareholder: (+50%)
Vant TASHDJIAN
1389 Redpath Crescent, Montreal, Quebec H3G 1A1
Management:
Vant TASHDJIAN, President, Director and CEO.
Parsegh Vahe TASHDJIAN is Secretary and Treasurer.
As far as we know, they are not involved in
other local corporations.
Subsidiaries
And partnership: None
In United States, 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.
Sales declared for year 2013 is in the range of USD 6,000,000=
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
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
50,000
Now owing: 0
Past due: 0
Last purchase: September
2014
Line of business: Payroll
Paying status: As
agreed
Date reported: October
2014
High credit: USD
38,000
Now owing: 0
Past due: 0
Last purchase: September
2014
Line of business: Telecommunications
Paying status: On
terms
Domestic credit history:
National Credit Bureaus gave a correct 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 its 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 June 5, 2014.
The risk is low.
Our opinion:
A business connection may be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
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
: |
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.