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Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
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Name : |
PVH CANADA, INC. |
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Registered Office : |
c/o Stewart McKelvey, Attorney |
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Country : |
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Date of Incorporation : |
31.01.2014 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Warnaco of Canada Company distributes a range of
intimate apparel, sportswear, and swimwear. The company is based in Baie-D'Urfe,
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No of Employees : |
320 |
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 : |
Slow but correct |
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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) |
|
Canada |
A1 |
A1 |
|
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 |
Your order on: CHAPS
A DIVISION OF WARNACO OF CANADA CO.
20600 Clark Graham, Baie d’Urfe, Quebec H9X
4B6 - Canada
On 01-31-2014
- WARNACO OF CANADA COMPANY
- PVH CANADA, INC. (former Company)
- 3276854 NOVA SCOTIA LIMITED
MERGED INTO:
PVH CANADA, INC.
Reg .Address: c/o
Stewart McKelvey, Attorney 1959 Upper Water Street, Ste 900, Halifax, Nova
Scotia B3J 2X2 - Canada
Headquarters: 20600 Clark Graham, Baie d’Urfe,
Quebec H9X 4B6 - Canada
Telephone: +1
514-457-55540
Fax: +1 514-457--5558
Website: www.pvh.com
Corporate ID#: 3278406
State: Nova Scotia
Judicial form: Corporation – Profit
Date incorporated: 01-31-2014
Stock: -
Value: -
Name of manager: EMANUEL
CHIRICO
Business:
Warnaco of Canada Company distributes a range of
intimate apparel, sportswear, and swimwear. The company is based in
Baie-D'Urfe, Canada. Warnaco of Canada Company operates as a subsidiary of PVH
Corp.
Brand includes Calvin Klein, Chaps, Tommy Hilfiger,
and others.
Foreign suppliers
include:
JETEX SDN BHD
LOT 3-8, PERSIARAN RISHAH 7, IPOH , MALAYSIA 30100
TEFRON LIMITED
28 CHIDA STREET BNEI BRAQ BNEI BRAK 51371 ISRAEL
Staff: 320
Operations & branches:
At the headquarters, we
find the corporate office and warehouse.
The Company maintains
several branches in Canada.
Shareholders:
PVH INTERNATIONAL B.V. (+50%)
Stadhouderskade 6 Amsterdam 1054ES
The Netherlands
Management:
Emanuel CHIRICO, President and Director.
He has been the Chief Executive Officer at PVH Corp., New York, since
February 27, 2006. Mr. Chirico has been Principal Executive Officer and
President at Warnaco Group Inc., a subsidiary of PVH Corp. since February 13,
2013. Mr. Chirico served as the Chairman of the Board and Chief Executive
Officer of Superba Inc. Mr. Chirico served as Chief Financial Officer of
Phillips-Van Heusen Corp., since 1999 and its President and Chief Operating
Officer since June 14, 2005. Mr. Chirico served as an Executive Vice President
of Phillips-Van Heusen Corporation since 1999 and joined as its Vice President
and Controller since in 1993. Prior to Phillips- Van Heusen, Mr. Chirico was a
Partner at Ernst & Young LLC. Mr. Chirico has been the Chairman of
Phillips-Van Heusen Corp. since June 2007 and its Director since June 14, 2005.
He has been a Director of Dick's Sporting Goods Inc., since December 4,
2003. He serves as a Director of American Apparel & Footwear Association.
He served as a Director at Superba, Inc.
Mark D. FISHER, Executive Vice President and Secretary
Dana M. PERLMAN, Sr. Vice President and Treasurer
Other Directors include Richard DECK and Michael A. SHAFFER.
Subsidiaries and
partnership:
None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, nobody
was available to answer our questions.
We sent a fax but no answer
received.
However, sales for year
2013 (previous company) was in the range of
CAD 80,000,000=
Banks: Banque de Montreal HSBC
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several
TRADE REFERENCES:
Date reported: September 2014
High credit: USD 60,000+
Now owing: 0
Past due: 0
Last purchase: August 2014
Line of business: Office supply
Paying status: 10 days beyond terms
Date reported: September 2014
High credit: USD 500,000
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 3,000
Now owing: 0
Past due: 0
Last purchase: August 2014
Line of business: Telecommunications
Paying status: 8 days beyond terms
Domestic credit history:
National Credit Bureaus
gave a medium credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made with an average of 8 to 10 days beyond terms.
International credit
history:
Payments of imports are currently made on terms.
Other comments:
The business is said to be
slow.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is medium.
Our opinion:
A business connection may
be conducted but we suggest you to check regularly the way of payments.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.35 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
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 |
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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 |
|
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.