|
Report Date : |
01.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
ANGORA LEATHER GARMENTS INC. |
|
|
|
|
Registered Office : |
111 Rue Chabanel Ouest, Ste 704, Montreal, Quebec H2N 1C8 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Date of Incorporation : |
01.01.2005 |
|
|
|
|
Legal Form : |
Federal Corporation – Profit |
|
|
|
|
Line of Business : |
Manufacture of Leather Outwear Jackets and Accessories. |
|
|
|
|
No of Employees : |
7 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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: LES
VETEMENTS DE CUIR ANGORA INC. (in French)
ANGORA
LEATHER GARMENTS INC. (in English)
Address: 111 Rue Chabanel Ouest, Ste 704,
Montreal, Quebec H2N 1C8 Canada
Telephone: +1
514-384-7038
Fax: +1
514-384-5801
Website: www.angorasportswear.com
Corporate ID#: 4275829
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 01-01-2005
Stock: -
Value: -
Name of manager: ISABELLE
BERNARDO
History:
Business issued from the
merger of:
- LES VETEMENTS DE CUIR ANGORA (1986) INC.
- 4225481 CANADA INC.
Business:
Manufacture leather outwear jackets and accessories.
Since 01-28-2014, the Company is also doing business as PGS ETOILE.
Brands: ANGORA, ANGORA TECH, NYLSPORT, TABOU.
The Company imports from Pakistan.
Staff: 7
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
Shareholders:
Antoine LE CALVEZ
3040 Bd Levesque O, Ste 1204, Laval, Quebec H7V 2G3 – Canada
Abdul Rashid PADANA
17 Km Ferozepur Ropad Lahore Pakistan
Muhamed Bashir PADANA
17 Km Ferozepur Ropad Lahore Pakistan
Management:
Isabelle BERNARDO, President
Abdul Rashid PADANA, Vice President
Carlos ALVES, Secretary
As far as we know, they are 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, the
Secretary controlled the present report but deferred any financials.
We sent a fax but no answer
received.
Sales declared for year
2013 is in the range of CAD 800,000=
The business is 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: September
2014
High credit: CAD 5,000
Now owing: 0
Past due: 0
Last purchase: August 2014
Line of business: Office supply
Paying status: On terms
Date reported: September 2014
High credit: CAD 12,000
Now owing: 0
Past due: 0
Last purchase: August 2014
Line of business: Payroll
Paying status: As agreed
Date reported: September 2014
High credit: CAD 300
Now owing: 0
Past due: 0
Last purchase: August 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 terms.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains a
regular business.
The bank confirmed an
account on 5 figures medium.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on 05-18-2014.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.61 |
|
|
1 |
Rs.100.27 |
|
Euro |
1 |
Rs.78.21 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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.