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Report Date : |
02.10.2014 |
IDENTIFICATION DETAILS
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Name : |
NEWCON INTERNATIONAL LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
04.02.1992 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is a leader in the design and manufacture of thermal
imagers, night vision systems, laser rangefinders, laser aimers and tactical
day optics |
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No. of Employees : |
25 |
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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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: NEWCON INTERNATIONAL LTD
Address:
Telephone: +1 416-663-6963
Fax: +1 416-663-9065
Website:
Corporate ID#: ON-000973516
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: February 4, 1992
Stock: -
Value: -
Name of
manager: Peter L. BIRO
Business:
The Company
is doing business as NEWCON OPTIK.
Newcon Optik is a leader in the design and manufacture of thermal imagers, night vision systems, laser rangefinders, laser aimers and tactical day optics.
Headquartered in Toronto, Canada, Newcon Optik's dealer network is present on five continents and its products are relied upon by military, government and commercial customers in more than 60 countries.
By working closely with its customers and partners, Newcon Optik consistently produces technologically advanced products that serve the needs of the military, law enforcement, search & rescue, surveillance, hunting and marine professional users around the globe.
Newcon Optik's products are relied upon by military, government and commercial customers in more than 60 countries, including the United States, Central and South America, Africa…
Staff: 25
Operations & branches:
At the
headquarters, we find a factory, warehouse and office, on lease.
Shareholders:
This is a
private company.
Management:
Michael BEKER, Chairman
Peter L. BIRO, President
and CEO
He joined the Company on
May 2011.
Peter L. Biro, B.A., M.A., LL.B., B.C.L., serves as President and Chief Executive Officer NewCon International LTD. Mr. Biro has practiced law as commercial litigator, employment lawyer and external general counsel for numerous business corporations (including Newcon Optik), non-profit organizations and public and private institutions and individuals for almost twenty years. He was a partner at Goodman and Carr LLP and, more recently, at WeirFoulds LLP in Toronto ... and has been a leading member of the commercial litigation and employment law bars. Over the course of his legal career, he lectured, published and commented frequently in the media on developments in the law and politics. His extensive community work presently includes serving as Treasurer and a director of the Global Secretariat of the Jane Goodall Institute, director of the Jane Goodall Institute of Canada, Co-Founder of Pollination Project, Executive Producer of the Watershed Music Festival and Program Committee member of the Couchiching Institute on Public Affairs.
He has previously also served as a Governor of the University of Haifa, President of Canadian Friends of Haifa University and a director of West Toronto Support Services for Senior Citizens and the Disabled.
After obtaining undergraduate and graduate degrees in political theory and studying at the University of Guelph, McMaster University and the University of Toronto, Mr. Biro studied law and graduated from the National Program at McGill University's Faculty of Law with his common law and civil law degrees.
Alex RUDIY, Executive Vice
President and COO
Alla RUDIY, CFO
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, a sales assistant controlled the present report but deferred any
financials.
We sent a
fax but no answer received.
However,
sales estimate for year 2013 is in the range of CAD 15,000,000=
to CAD
20,000,000=
(95% on
export markets).
The
business is 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: September 2014
High
credit: USD 6,000
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: USD 40,000+
Now owing: 0
Past due: 0
Last
purchase: August 2014
Line of
business: Payroll
Paying
status: As agreed
Date
reported: September 2014
High
credit: USD 600
Now owing: 0
Past due: 0
Last
purchase : August 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, payments were made on terms.
International credit history:
Payments of imports are currently made on terms.
Other
comments:
The Company
is developing a strong business worldwide.
The bank
confirmed a regular account.
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.61.75 |
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1 |
Rs.100.07 |
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Euro |
1 |
Rs.77.95 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIS |
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.