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Report No. : |
354713 |
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Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
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Name : |
FOREST FIBERS INC. |
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Registered Office : |
5000 Rue Armand-Frappier, Longueil, Quebec J3Z 1G5 |
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Country : |
Canada |
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Date of Incorporation : |
09.04.2001 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
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No. of Employee : |
15 |
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 – March 31, 2015
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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.
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Source
: CIA |
Company name: LES FIBRES FORESTIERES INC.
(in French)
FOREST FIBERS INC.
(in English)
Address: 5000 Rue Armand-Frappier,
Longueil, Quebec J3Z 1G5
Canada
Telephone: +1
450-466-6688
Fax: +1 450-466-8870
Website: www.forestfibersinc.com
Corporate ID#: 1160304631
State: Quebec
Judicial form: Corporation – Profit
Date incorporated: 09-04-2001
Date founded: 08-28-2001
Stock: --
Value: --
Name of manager: Dominic
COLUBRIALE
History:
On 10-29-2015, name changed
from LES
FIBRES FORESTIERES INC.
Business:
The Company’s mission is to connect North American suppliers to sell
their paper products overseas and supply its worldwide-based customers at the
best price possible.
Forest Fibers is a fully integrated solution provider. Since its
foundation, Forest Fibers quickly became one of the leading exporters of paper
products in North America.
With over twenty years of experience in the recycling business,
President Domenic Colubriale surrounded himself with an efficient, dynamic,
customer- oriented team, each with several years experience in the industry.
The Company’s worldwide network, created by a diverse and creative team,
allows the company to export high volumes of all grades of papers, foil
laminated, poly board and all specialty grades to several different markets,
including China, India, Western Europe and South America.
The Company is also importing and exporting meat.
The Company is using several registered fictitious names:
- AMERICAN MEAT PURVEYORS
- AMP TRADING
- BUYRITE TM
- FIBRES C & C
- C & C FIBERS
- FOURNISSEUR DE VIANDES AMERICANA
- LES COURTAGES AMP
- LIMAC CANADA
- KTA INTERNATIONAL
- CANACHA
Staff: 15
Operations & branches:
At above address, we find
the corporate office, on lease.
The Company maintains
branches located:
1640 Avenue Stravinski
Brossard, Quebec J4X 2J4
624 Rue du Beaujolais
Rosemere, Quebec J7A 4L1
Shareholders:
THE D.A.C. FAMILY TRUST (+50%)
7555 Avenue de Lugano
Brossard, Quebec J4Y 3G2 - Canada
Management:
Dominic COLUBRIALE is the
President and CEO.
As far as we know, he is
also the President of:
TRANSPORT FIBRES FORESTIERES INC.
7900 Bld Tascherau Ouest, Bureau 203C
Brossard, Quebec J4X 1C2 – Canada
Incorporated in Quebec on 08-20-2003
ID# 1161699823
Vincent VIVIANI is Secretary.
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.
However, estimate revenue
for year 2014 is in the range of CAD 4,300,000=
(same as 2013)
The business is profitable.
Banks: Banque de Montreal
Legal filings
& complaints:
As of today date, there is no legal filing pending with the District
Courts.
Secured debts summary: None
Trade references:
Date reported: November 2015
High credit: CAD 15,000
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Office supply
Paying status: 2 days beyond terms
Date reported: November 2015
High credit: CAD 25,000+
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Payroll
Paying status: As agreed
Date reported: November 2015
High credit: CAD 500
Now owing: 0
Past due: 0
Last purchase: October 2015
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
|
Monthly Payment Trends - Recent Activity |
|
Date |
Up to 30 DBT |
31-60 DBT |
61-90 DBT |
>90 DBT |
||
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05/15 |
$3,200 |
92% |
8% |
0% |
0% |
0% |
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07/15 |
$3,500 |
93% |
7% |
0% |
0% |
0% |
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08/15 |
$3,300 |
93% |
7% |
0% |
0% |
0% |
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09/15 |
$3,200 |
92% |
8% |
0% |
0% |
0% |
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10/15 |
$3,300 |
93% |
7% |
0% |
0% |
0% |
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11/15 |
$3,300 |
93% |
7% |
0% |
0% |
0% |
National Credit Bureaus
gave a correct credit rating.
According to our credit analysts, during the last 6 months, domestic payments
were made with an average of 0 to 2 days beyond terms.
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.
Last report was filed on
November 2, 2015.
The risk remains low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
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|
1 |
Rs.98.30 |
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Euro |
1 |
Rs.72.41 |
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CAD |
1 |
Rs.47.88 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ANK |
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 |
-- |
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.