MIRA INFORM REPORT

 

 

Report No. :

334907

Report Date :

03.08.2015

 

IDENTIFICATION DETAILS

 

Name :

3075109 CANADA INC.

 

 

Registered Office :

47 Bd Marie-Victorin, Candiac, Quebec J5R 1B6

 

 

Country :

Canada

 

 

Date of Incorporation :

05.10.1994

 

 

Legal Form :

Federal Corporation – Profit

 

 

Line of Business :

Designs, manufactures, and markets heat exchangers for industrial processes

 

 

No. of Employees :

100+

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 


 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Canada

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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, and electric power, and a top source of US uranium imports. 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 early intervention by the Bank of Canada and the financial sector's tradition of conservative lending practices and strong capitalization. Canada achieved marginal growth in 2010-14 and plans to balance the budget by 2015 despite the recent drop in oil prices. 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 and is the world’s fifth-largest oil producer.

 

Source : CIA

 

 

 

 


Company Name and Summary

 

Company name:            3075109 CANADA INC.

 

Address:                       47 Bd Marie-Victorin, Candiac, Quebec J5R 1B6 - Canada

 

Telephone:                    +1 450-444-4405

 

Fax:                              +1 450-444-7745

 

Website:                       www.thermofin.net

 

Corporate ID#:              3075109

 

State:                            Federal

 

Judicial form:                Federal Corporation – Profit

 

Date incorporated:        October 5, 1994

 

Stock:                          -

 

Value:                           -

 

Name of manager:         Louis-Charles RONDEAU

 

 

ACTIVITIES & OPERATIONS

 

IST

 

Business:

 

Thermofin designs, manufactures, and markets heat exchangers for industrial processes in North America.

 

The company offers gasketed and brazed plate heat exchangers; extruded finned tubes; heat pipes; heating and cooling coils; air coolers; shells and tubes; bearing coolers; generator and motor coolers; steam coils; transformer oil coolers; panel radiators; unit heaters; energy storage solutions; and air handling grilles. Its products are used in petrochemical, power, and pulp and paper industrial markets.

The company was founded in 1994 and is based in Candiac, Canada.

 

 

Foreign suppliers include:

 

TTP TECHNOLOGIES PVT.LTD.

UNIT II # 36 KIADB INDL AREA, HIREHALLI, TUMKUR - 572 168, KARNATAKA, INDIA

 

Staff:    100+

 

 

Operations & branches:

 

At the headquarters, we find a factory, warehouse and office, owned.

 

The Company maintains a branch “ENERFIN (MC)” located:

 

130 Rue de l’Isere

Candiac, Quebec J5R 0M2

 

 

SHAREHOLDERS & MANAGERS

 

Shareholders:

 

9057-3254 QUABEC INC.

569A Rue Richelieu, Saint-Marc-sur-Richelieu, Quebec J0L 2E0 - Canada

 

3424154 CANADA INC.

470 Avenue de la Maire, La Prairie, Quebec J5R 5M7 – Canada

 

 

Management:

 

Louis-Charles RONDEAU, President, Director and CEO

(no antecedents available)

 

Jean-Francois ROY, Vice President and Secretary.

 

 

Subsidiaries and partnership:             

None

 

 

FINANCIALS

 

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 2014 is in the range of CAD 20,000,000=

 

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

 

 

COMPANY CREDIT HISTORY

 

Trade references:

 

Date reported:               July 2015

High credit:                   CAD 30,000

Now owing:                   0

Past due:                      0

Last purchase:              June 2015

Line of business:           Office supply

Paying status:               On terms

 

Date reported:               July 2015

High credit:                   CAD 135,000

Now owing:                   0

Past due:                      0

Last purchase:              June 2015

Line of business:           Payroll

Paying status:               As agreed

 

Date reported:               July 2015

High credit:                   CAD 420

Now owing:                   0

Past due:                      0

Last purchase:              June 2015

Line of business:           Telecommunications

Paying status:               On terms

           

 

Domestic credit history:

 

National Credit Bureaus gave a satisfying credit risk.

 

 

International credit history:

Payments of imports are currently made on terms.

 

 

Other comments:

The Company is developing a regular business.

The Company is in good standing.

This means that all local and federal taxes were paid on due date.

Last report was filed on May 12, 2015.

The risk is low.

 

 

Our opinion:

A business connection may be conducted.

 


 

FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.64.01

UK Pound

1

Rs.99.84

Euro

1

Rs.70.16

 

INFORMATION DETAILS

 

Analysis Done by :

KAS

 

 

Report Prepared by :

NIT

 

 

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

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.