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Report Date : |
16.10.2014 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL THERMOELECTRIC INC. |
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Registered Office : |
3700 78th Avenue SE, Bay 9, Calgary, Alberta T2C 2L8 |
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Country : |
Canada |
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Date of Incorporation : |
28.05.2004 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is engages in the development, manufacture, and integration of
remote power generation systems for remote industrial applications. |
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No of Employees : |
155 |
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
|
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 |
GLOBAL THERMOELECTRIC INC.
Address: 3700 78th
Avenue SE, Bay 9, Calgary, Alberta T2C 2L8 Canada
Telephone: +1
403-236-5556
Fax: +1 403-236-5575
Website: www.globalte.com
Corporate ID#: AB-2011104920
State: Alberta
Judicial form: Corporation – Profit
Date incorporated: 05-28-2004
Date founded: 1975
Stock: -
Value: -
Name of manager: JAMES
BOLEN
History:
A previous GLOBAL THERMOELECTRIC INC. incorporated in Alberta on April
1st, 1985 under ID# AB-0203274261 merged into the new one.
Business:
Global Thermoelectric, Inc. engages in the development, manufacture, and
integration of remote power generation systems for remote industrial
applications. Its products include GlobalTEG, a thermoelectric generator;
GlobalCharge, a cycle charger; GlobalSolarHybrid, a photo voltaic system;
GlobalPrimeGen systems for larger loads; GlobalRectifiers, such as air cooled,
benchmark and utility air series, and CP sentinel series; and GlobalStation, a
self-contained remote site station.
The company’s products also comprise batteries and accessories,
including power conditioning inverters/converters, control enclosures and
systems, and shelters, as well as AC and DC power distribution, heat recovery,
fuel conditioning, and auto and manual cathodic protection systems.
Its products are used for applications in oil or gas pipelines, well
sites, offshore platforms, telecommunications sites, well automations,
monitoring equipment, navigational aids, communications systems, wellheads,
security, and surveillance. Global Thermoelectric sells its products through
authorized sales representatives in Canada and internationally.
The company was founded in 1975 and is based in Calgary, Canada with
corporate offices in Canada and the United States.
Exports worldwide.
Global Thermoelectric, Inc. was formerly a subsidiary of FuelCell Energy
Inc.
Suppliers include:
CUEL Ltd.
Thailand
The Company exports to:
MPS TRADING PTE LTD.
1 Ubi View,#04 09 Focus One, Singapore 408555
INTERNACIONAL DE POTENCIA Y CONTROLES S A S IPC SAS
Columbia
Staff: 155
Operations & branches:
At the headquarters, we
find a factory, warehouse and office.
Shareholders:
This is a private Company.
Management:
James BOLEN, President
Graduate from the University of Saskatchewan in 1987 with a B.S. in
Compuer Science and Electrical Engineering.
Graduate from The University of Western
Ontario - Richard Ivey School of Business, in 1991, with a MBA.
Joined the Company in November 2001 as Vice
President of Development.
He is President since May 2011.
Paul CRILLY is Vice President and CFO
Mr. Crilly is a Chartered Accountant and holds a Bachelor of Commerce
degree from the University of Saskatchewan.
As far as we know, they are not involved in other local corporations.
Subsidiaries and
partnership:
GLOBAL THERMOELECTRIC CORPORATION
350 N. St. Paul Street, Ste 2900, Dallas, TX 75201
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report.
Sales declared for year
2013 is in the range of CAD 15,000,000=
(same as 2012)
The business is said to be
profitable.
Banks: Scotia Bank
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
TRADE REFERENCES:
Date reported: October 2014
High credit: CAD 20,000
Now owing: 0
Past due: 0
Last purchase: September 2014
Line of business: Office supply
Paying status: On terms
Date reported: October 2014
High credit: CAD 180,000+
Now owing: 0
Past due: 0
Last purchase: September 2014
Line of business: Payroll
Paying status: As agreed
Date reported: October 2014
High credit: CAD 800
Now owing: 0
Past due: 0
Last purchase: September 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 due date.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains its
business.
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.61.11 |
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|
1 |
Rs.98.15 |
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Euro |
1 |
Rs.77.68 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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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.