MIRA
INFORM REPORT
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Report Date : |
01.09.2014 |
IDENTIFICATION DETAILS
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Name : |
EDEN TEXTILE LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11.03.1946 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Manufactures textiles for beds, baths and windows |
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No. of Employees |
60 |
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 |
Company name and address
Company name: EDEN TEXTILE LTD
Address:
Telephone: +1 780-453-7200
Fax: +1 780-451-0645
Website: www.edentextile.com
Corporate ID#: AB-0200115210
State: Alberta
Judicial form: Corporation – Profit
Date incorporated: March 11, 1946
Stock: -
Value: -
Name of
manager: Brad SPARROW
ACTIVITIES
& OPERATIONS
Business:
The Company manufactures textiles for beds, baths and windows.
Clients include Best Western, Ramada, Wingate, Wyndham, Super 8, Amerihost and Days Inn.
Suppliers include:
YANTAI PACIFIC HOME
FASHION CO., LTD
NO.28 YINGFU ROAD YANTAI, CHINA
Staff: 60 + part time
Operations & branches:
At the
headquarters, we find a factory, warehouse and office, on 65,000 sq. foot,
owned.
The Company
maintains sales office located:
2071 Kingsway Avenue,
Suite 307
Port Coquitlam, BC V3C 6N2
SHAREHOLDERS & MANAGERS
Shareholders:
This is a private Company.
Management:
Brad SPARROW is the President, Director and CEO
Graduate from Brentwood College School in 1981
Director of the Edmonton Eskimo Football Club
Graham McMILLAN is Vice President
Pedro LOPEZ is in charge of manufacturing
Subsidiaries
And partnership: None
FINANCIALS
In Canada,
privately held corporations are not required to publish any financials.
On a direct
call, a Secretary controlled the present report but deferred any financials.
We sent a
fax but no answer received.
Outside
sources (bank) gave estimate sales for year 2013 in excess of
CAD 10,000,000+
The
business is profitable.
Banks: Scotia Bank
...
LEGAL FILINGS
Legal filings &
complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Haut du formulaire
COMPANY
CREDIT HISTORY
Trade
references:
Date
reported: July 2014
High
credit: CAD 20,000
Now owing: 0
Past due: 0
Last
purchase: June 2014
Line of
business: Office supply
Paying
status: On terms
Date
reported: July 2014
High
credit: CAD 100,000
Now owing: 0
Past due: 0
Last
purchase: June 2014
Line of
business: Payroll
Paying
status: As agreed
Date
reported: July 2014
High
credit: CAD 1,000
Now owing: 0
Past due: 0
Last
purchase: June 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
is developing a strong 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.60.48 |
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1 |
Rs.100.35 |
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Euro |
1 |
Rs.79.86 |
INFORMATION DETAILS
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Analysis Done by
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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.