MIRA
INFORM REPORT
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Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MARSIA FOODS INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
22.09.1993 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and wholesaler of dried foods, frozen foods, raisins, nuts,
seeds, and others. Imports from over 23 different countries, representing suppliers from
areas such as Russia, China, Australia, Iran, Turkey, South Africa, Spain,
Chile, and The United States. |
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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 01, 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 Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
MARSIA FOODS INC.
Address:
Richmond
Hills, Ontario L48 1L1 - Canada
Telephone: +1
905-907-1270
Fax: +1 905-907-5195
Website: www.marsia.ca
Corporate ID#: 001045193
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 09-22-1993
Stock: -
Value: -
Name of manager: Sohrab
MASOODI
ACTIVITIES
& OPERATIONS
Business:
The Company is importer and wholesaler of dried foods, frozen foods,
raisins, nuts, seeds, and others.
Imports from over 23 different countries, representing suppliers from
areas such as Russia, China, Australia, Iran, Turkey, South Africa, Spain,
Chile, and The United States.
Staff: 6
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
SHAREHOLDERS & MANAGERS
Shareholders:
This is a private Company.
Management:
Sohrab MASSODI is the President, Director and CEO.
Graduate from Arabian Institute of Technology in 1974 with a Bachelor of
Engineering in Petroleum Engineering.
As far as we know, he is not involved in other local corporations.
Subsidiaries
And partnership: None
FINANCIALS
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.
However, sales estimate for
year 2013 is in the range of CAD 1,500,000=
The business is said to be
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: August 2014
High credit: CAD 6,000
Now owing: 0
Past due: 0
Last purchase: July 2014
Line of business: Office supply
Paying status: On terms
Date reported: August 2014
High credit: CAD 10,000
Now owing: 0
Past due: 0
Last purchase: July 2014
Line of business: Payroll
Paying status: As agreed
Date reported: August 2014
High credit: CAD 300
Now owing: 0
Past due: 0
Last purchase: July 2014
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
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 a
regular 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.60.95 |
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1 |
Rs.99.32 |
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Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
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Analysis Done by
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SUM |
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Report Prepared
by : |
PDT |
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.