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Report Date : |
06.10.2014 |
IDENTIFICATION DETAILS
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Name : |
7761198 CANADA INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
18.04.2011 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Importer and Wholesaler
of Women’s Clothing. |
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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
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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 |
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.
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Source
: CIA |
7761198 CANADA
INC.
Address:
Telephone: +1
450-659-2622
Fax: +1 450-444-6289
Website: www.mangomango.ca
Corporate ID#: 7761198
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 04-18-2011
Stock: -
Value: -
Name of manager: RUCHI
BHAKOO
Business:
The Company is importer and
wholesaler of women’s clothing.
It owns a store “TANGO MANGO FASHIONS” since March 14, 2012.
The Company is present in several events in Canada and the United
States.
No name of foreign suppliers available.
Staff: 6
Operations & branches:
At the headquarters, we
find a store located in a Mall.
Shareholders:
Ruchi BHAKOO is a major
shareholder.
Management:
Ruchi BHAKOO is the
President, Director and CEO.
As far as we know, he 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, a sales assistant
controlled the present report but deferred any financials.
We sent a fax but no answer
received.
Outside sources (bank) gave
sales for year 2013 in the range of CAD 800,000+
The business is profitable.
Banks:
Banque Nationale
Brossard, Quebec
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: USD 10,000
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 200
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.
OTHER COMMENTS:
The Company maintains a
regular business.
The bank confirmed an
account on 5 figures low.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
06-26-2014.
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
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KAR |
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Report Prepared
by : |
TPT |
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 |
-- |
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.