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Report Date : |
29.11.2014 |
IDENTIFICATION DETAILS
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Name : |
FOUNDATION GENETICS SERVICE INCORPORATED |
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Registered Office : |
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Country : |
Canada |
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Date of Incorporation : |
10.02.2005 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is a bovine semen collection and housing facility that markets
bovine semen for dairy cattle worldwide. |
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No of Employees : |
6 |
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) |
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Canada |
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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: FOUNDATION GENETICS SERVICE INCORPORATED
Address: 7970 Perth Road 147, R.R.
4, Listowel, Ontario N4W 3G9 –
Canada
Telephone: +1
519-291-9916
Fax: +1 519-291-3532
Website: www.foundationgenetics.com
Corporate ID#: ON-001639826
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: February
10, 2005
Stock: -
Value: -
Name of manager: Dave
BRAND
Business:
Foundation Genetics Service Inc. is a bovine semen collection and
housing facility that markets bovine semen for dairy cattle worldwide.
In alliance with Accelerated Genetics, Cogent International, and
Browndale Specialty Sires, Foundation Genetics delivers a wider range of
todays’ top genetics to the doorstep of Canadian dairyman and around the world.
No name of foreign suppliers available.
Staff: 6
Operations & branches:
At the headquarters, we
find a farm and office.
Shareholders:
This is a private Company.
Management:
Dave BRAND is the General Manager since April 14, 2014.
Dave has worked with Foundation Genetics in the past, as the Canadian
Sales Manager and brings with him extensive knowledge of the AI business.
His other experience includes Sales Management with DuPont Pioneer,
where he developed the Corn Share program, a program for next generation
farmers to learn the key components of field corn production through experts
outside their farm.
Dave also has a Certified Sales Professional Designation from the Canadian
Professional Sales Association and is currently pursuing an MBA at University
of Guelph.
The Board of Directors include:
- Jon A. Walker
- Doug Brown
- Eric Dupasquier
- Oscar Dupasquier
- Gord Rendle
- Ridley Wikkerink
As far as we know, they are involved in other corporations, including:
- FOUNDATION GENETICS HOLDING CORPORATION
- FOUNDATION SIRES INC.
In United Canada, privately
held corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2013 is in the range of CAD 800,000=
The business is said to be
profitable.
Banks: TD Bank
Listowel, Ontario
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Trade references:
Date reported: November 2014
High credit: CAD 3,000
Now owing: 0
Past due: 0
Last purchase: October 2014
Line of business: Office supply
Paying status: On terms
Date reported: November 2014
High credit: CAD 8,000
Now owing: 0
Past due: 0
Last purchase: October 2014
Line of business: Payroll
Paying status: As agreed
Date reported: November 2014
High credit: CAD 300
Now owing: 0
Past due: 0
Last purchase: October 2014
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 due date.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.97 |
|
|
1 |
Rs.97.37 |
|
Euro |
1 |
Rs.77.16 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
SMN |
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 |
|
<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.