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Report No. : |
352965 |
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Report Date : |
12.12.2015 |
IDENTIFICATION DETAILS
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Name : |
MORNEAU SHEPELL LTD. |
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Registered Office : |
895 Don Mills Road, Ste 700, Toronto, Ontario M3C 1W3 |
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Country : |
Canada |
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Financials (as on) : |
30.09.2015 |
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Date of Incorporation : |
01.01.2011 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
·
Subject provides human resource consulting and
outsourcing services. ·
Subject offers pension and benefits consulting
services, such as retirement consulting, benefits consulting and health,
investment consulting, employee communication, capital accumulation plan
(CAP) consulting, compensation consulting, retirement planning, regulatory
practice, and regulatory international practices. |
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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 : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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, 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: MORNEAU SHEPELL LTD.
Address: 895 Don Mills Road, Ste
700, Toronto, Ontario M3C 1W3 – Canada
Telephone: +1
416-445-2700
Fax: +1 416-445-7989
Website: www.morneaushepell.com
Corporate ID#: ON-001926283
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 01-01-2015
Date founded: 01-01-2011
Stock: -
Value: -
Name of manager: ALAN
D. TORRIE
Business:
Morneau Shepell Ltd. provides human resource consulting and outsourcing
services.
It offers pension and benefits consulting services, such as retirement
consulting, benefits consulting and health, investment consulting, employee
communication, capital accumulation plan (CAP) consulting, compensation
consulting, retirement planning, regulatory practice, and regulatory
international practices.
The company also provides pension and benefits outsourcing services,
including pension and benefit outsourcing, CAP administration, class action
settlements, COBRA/HIPAA, and total rewards communication.
In addition, it offers employee and family assistance program services,
such as employee assistance programs, depression care, mental health workshop,
professional counseling, support, online programs, health, trauma, and
workplace support program.
Further, the company provides health management services, including
health management, health risk management, occupational health, attendance
support, disability management, and workers’ compensation.
Morneau Shepell Ltd. operates as a subsidiary of Morneau Shepell Inc.
No name of foreign suppliers available.
Staff: 20+
Operations & branches:
At the headquarters, we
find the corporate office of the group.
Shareholders:
MORNEAU SHEPELL INC.
Incorporated in Ontario on
10-19-2010
ID# ON-002260708
Listed with the Toronto
Stock Exchange under symbol MSI.
Management:
Alan D. TORRIE has been the Chief Executive Officer and President of Morneau
Shepell Inc (Alternate Name: Morneau Sobeco Income Fund) since November 2009
and since January 30, 2008. Mr. Torrie served as the Chief Operating Officer of
Retirement Residences REIT and was responsible for the overall operations and
performance of the enterprise since July 11, 2005.
Mr. Torrie served as an Executive Vice President of Global Markets and
Technology of Nordion Inc. (Alternate Name: MDS Inc.).
He has over 25 years in the health and life science industry his
experience includes driving growth, strategy and value creation in a global
multi-business unit environment, P&L responsibility, leading change and
business start-ups and turn-arounds in both private and public enterprise.
Mr. Torrie has been at MDS since 1987 and over the subsequent 15 years,
as part of the executive leadership. He served as an Executive Vice President
from 2002 to 2005, Chief Executive Officer and President of Diagnostic Sector
from 1999 to 2002. He served as the President of MDS Laboratories from 1991 to
1999 and Vice President of Operations at MDS Laboratories from 1987 to 1990. He
served as the Chief Executive Officer and President of Joseph Brant Hospital
until 1987. From 1978 to 1983, he served as the Chief Operating Officer and
Vice President of Humber Memorial Hospital.
He has been the Chairman of Trillium Health Centre since February 1,
2012 and its Director since 2008. He has been the Chairman of Credit Valley
Hospital since January 2012 and serves as its Director.
He serves as Chair of the African Medical Research Foundation and Flying
Doctors since 1997. He was Founding Chair of the Toronto Rehabilitation Network
from 2000 to 2002. He has been a Director of Landauer Metropolitan, USA since
2005. He has been a Member of the Young President/World President Organization
since 1999. He served as a Director of the Michener Institute of Medical
Technology from 1998 to 2001. He has been a Director at Morneau Shepell Inc.
since September 30,2005. He served as a Director of Morneau Sobeco Corporation.
He served as a Trustee of Morneau Shepell Inc. from September 30, 2005 to
January 30, 2008.
He served as Chairman of the Ontario Association of Medical Laboratories
from 1996 to 2000. He served as a Director of the National Ovarian Cancer
Association from 2001 to 2002.
Mr. Torrie holds a a B. Sc in Biochemistry from McMaster University in
1973 and a DHA in Healthcare Management from the University of Toronto in 1976.
He holds an Advanced Management Program from Harvard University in 1993.
William Frank MORNEAU, Executive Chairman
Scott MILLIGAN, CFO
As far as we know, they are involved in other corporations, including:
MORNEAU SHEPELL INC.
MORNEAU SHEPELL ASSET & RISK MANAGEMENT LTD.
MORNEAU SHEPELL RISK & ASSET MANAGEMENT LTD.
MORNEAU SHEPELL WORKERS’ COMPENSATION SERVICES PROFESSIONAL CORPORATION
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report and confirmed that all financials
are consolidated into the parent Company.
On attachment:
- 10K 2014
- 3rd 10Q 2015
Banks: CIBC
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: November 2015
High credit: CAD 40,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Payroll
Paying status: As agreed
Domestic credit history:
Based on the parent
company, National Credit Bureaus gave a satisfying credit risk.
According to our credit analysts, during the last 6 months, domestic
payments were made on due date.
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.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.73.10 |
|
CAD |
1 |
Rs.48.81 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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 |
-- |
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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.