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Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
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Name : |
MORGAN FOODS INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
15.09.2006 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and wholesaler food and groceries. |
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No of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 |
NOTE:-
In absence of financials, no credit limit could be recommended.
MORGAN FOODS INC.
Reg. address: 8833 Odlin Crescent, Ste 230,
Richmond, BC V6X 3Z7 - Canada
Headquarters: 6511 Graybar Road, Richmond, BC V6W
1D3 - Canada
Telephone: +1
604-303-8812
Fax: +1 604-303-1916
Website: -
Corporate ID#: BC-000769017
State: British Columbia
Judicial form: Corporation – Profit
Date incorporated: 09-15-2006
Stock: -
Value: -
Name of manager: Chris
Yuk Yung CO
Business:
Importer and wholesaler food and groceries.
Foreign suppliers include:
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SEA SUN INTERNATIONAL LIMITED |
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RM103 JIN XIA DA SHA, 13 SI YOU, ER HENG LU, GUANGZHOU,CHINA |
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FOISON SEAFOOD INTERNATIONAL COMPAN
2F-8, NO. 10, FUSHING 4TH RD., CHIENCHEN TAIWAN
Staff: 3
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
Shareholders:
- Chris Yuk Yung CO
7468 Lucas Road, Richmond, BC V6Y 1E9
- Karen Ka Wing WU
7640 Petts Road, Richmond, BC V7A 1J7
Management:
- Chris Yuk Yung CO
- Karen Ka Wing WU
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, nobody
accepted to answer our questions.
We sent a fax but no answer
received.
No financials available.
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: CAD 5,000
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 bank deferred any
information.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
08-08-2014.
Our opinion:
Due to the lack of
information, we are unable to estimate a risk.
We suggest you to be
careful.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.47 |
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1 |
Rs.98.77 |
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Euro |
1 |
Rs.77.65 |
INFORMATION DETAILS
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Analysis Done by
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SUB |
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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 |
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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.