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Report No. : |
306415 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
GLOPEC INTERNATIONAL INC. |
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Registered Office : |
10 Waterloo Court, Thornhill, Ontario L3T 6L9 |
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Country : |
Canada |
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Date of Incorporation : |
09.10.1991 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and wholesaler of pharmaceutical ingredients, neutraceutical
ingredients, pharma intermediates, and chemical products. |
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No. of Employees : |
8 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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Source
: CIA |
Company name: GLOPEC INTERNATIONAL INC.
Address: 10 Waterloo Court, Thornhill,
Ontario L3T 6L9 - Canada
Telephone: +1
905-771-6695
Fax: +1 905-771-6696
Website: www.glopec.com
Corporate ID#: ON-000960378
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: October
9, 1991
Stock: -
Value: -
Name of manager: HARCHARAN
SINGH
Business:
The Company is importer and wholesaler of pharmaceutical ingredients,
neutraceutical ingredients, pharma intermediates, and chemical products.
Foreign suppliers include:
GPT PHARMACEUTICALS PVT LTD
11-1, CIEE GANDHINAGAR BALANAGAR HYDERABAD 500037 INDIA
HAINAN ZHONGXIN CHEMICALCO LTD
ROOM 811 HAINAN MANDARIN HOTEL BINHAI AVE HAIKOU CITY CHINA HAIKOU CHINA
Staff: 8
Operations & branches:
At the headquarters, we find
the corporate office.
Shareholders:
This is a private company.
Management:
Harcharan “Harry” SINGH is the President, Director and CEO.
As far as we know, he is not involved in other local corporations.
Subsidiaries and partnership:
None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
Secretary controlled the present report.
We sent a fax but no answer
received.
However, sales estimate for
year 2014 is in the range of CAD 2,200,000=
The business is said to be
profitable.
Banks: 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: January 2015
High credit: CAD 3,000
Now owing: 0
Past due: 0
Last purchase: December 2014
Line of business: Office supply
Paying status: On terms
Date reported: January 2015
High credit: CAD 12,000
Now owing: 0
Past due: 0
Last purchase: December 2014
Line of business: Payroll
Paying status: As agreed
Date reported: January 2015
High credit: CAD 300
Now owing: 0
Past due: 0
Last purchase: December 2014
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
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1 |
Rs.94.07 |
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Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.