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Report Date : |
22.09.2014 |
IDENTIFICATION DETAILS
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Name : |
ROGITEX INC. |
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Registered Office : |
76 Bld Hymus, |
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Country : |
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Date of Incorporation : |
15.01.1979 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
The Company is importer, exporter, and trader of raw materials for the
tire and rubber industries. Products include tire cord fabrics, synthetic rubber, polystyrene polymer,
carbon black and polyethylene terephthalate (PET). |
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No. of Employees : |
20 |
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
|
Source
: CIA |
ROGITEX INC.
Headquarters: 76 Bld Hymus, Pointe Claire, Quebec
H9R 1E3 – Canada
Telephone: +1
514-332-1140
Fax: +1 514-332-9556
Website: www.rogitex.com
Corporate ID#: 802433
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 01-15-1979
Stock: -
Value: -
Name of manager: Rawi
KAYAL
Business:
The Company is importer, exporter, and trader of raw materials for the tire
and rubber industries.
Products include tire cord fabrics, synthetic rubber, polystyrene
polymer, carbon black and polyethylene terephthalate (PET).
Suppliers include:
ZHEJIANG MOMALISANITARY UTENSILS CO
Haicheng Industrial Zone Longwan Wenzhou zj, China.
Staff: 20
Operations & branches:
At the headquarters, we
find a warehouse and office, on lease.
Shareholders:
1st shareholder:
(+50%)
THE PNL TRUST
353 Avenue Melbourne, Mont-Royal, Quebec H3P 1G8 – Canada
2nd shareholder:
THE AMANI SAWAYA FAMILY TRUST
345 Avenue Vivian, Mont-Royal, Quebec H3P 1P3 – Canada
3nr shareholder:
Bashir LABAT
258 Avenue Anselme Lavigne, Montreal, Quebec H9A 1R3 - Canada
Management:
Rawi KAYAL, President, Director, Treasurer and Secretary
Philippe KAYAL, Vice President and Director
Bashir LABAT, Director
As far as we know, they are involved in other corporations, including:
ROGITEX INTERNATIONAL INC.
76 Bld Hymus, Pointe Claire, Quebec H9R 1E3
Federal Corporation
Incorporated on July 6, 2012
ID# 8245452
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant 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 the range of
CAD 38,000,000= verse
40,000,000= in 2012 and CAD 45,000,000= in 2011.
The business remains
profitable.
Banks: Banque de Montreal
Montreal, Quebec
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: August 2014
High credit: CAD 25,000
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 35,000
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 600
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:
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Monthly Payment Trends - Recent
Activity |
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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 confirmed a
regular account.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
Last report was filed on
01-31-2014.
The risk remains low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.80 |
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1 |
Rs.100.06 |
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Euro |
1 |
Rs.78.46 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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.