MIRA INFORM REPORT

 

 

Report No. :

307144

Report Date :

17.02.2015

 

IDENTIFICATION DETAILS

 

Name :

HOLDAY GROUP INC.

 

 

Registered Office :

1250 Blvd Rene-Levesque Ouest, Montreal, Quebec H3B 5E9

 

 

Country :

Canada

 

 

Date of Incorporation :

01.01.2014

 

 

Legal Form :

Corporation – Profit

 

 

Line of Business :

Engaged as Manufacturer, Importer and Exporter of luggage, business cases, camera and media bags, backpacks, sport bags, hockey bags, ski and board bags, handbags, ladies lunch bags, cosmetic bags, computer bags, straw hats and bags, children’s bags, small leather goods, totes, travel accessories and umbrellas.

 

 

No of Employees :

150

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

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, 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

Company name & address

 

Company name:            GROUPE HOLIDAY INC. (in French)

                                    HOLDAY GROUP INC. (in English)

Reg. address:               1250 Blvd Rene-Levesque Ouest, Montreal, Quebec H3B 5E9 – Canada

Headquarters:              4875 Blvd des Grandes Prairies, St. Leonard, QC H1R 1X4, Canada

Telephone:                    +1 514-325-0660 / 1-888-790-4654

Fax:                              +1 514-325-4259

Website:                       www.holiday.ca

 

 

Registration data

 

Corporate ID#:              8734810

State:                           Federal

Judicial form:                Corporation – Profit

Date incorporated:        01-01-2014

Stock:                           -

Value:                           -

Name of manager:         Robin RANKIN

 

 

ACTIVITIES & OPERATIONS

 

History:

 

Business issued from the merger of:

GESTION GROUPE HOLIDAY INC.

258, Adelaide Street East, Suite 201, Toronto, Ontario M5A 1N1 – Canada

Federal Corporation incorporated on 04-02-2005

ID# 4258479

 

and

 

GROUTE HOLIDAY INC.

1250 Blvd Rene-Levesque Ouest, Montreal, Quebec H3B 5E9 – Canada

Federal Corporation incorporated on 04-03-2005

ID# 4290631

 

Business:

Groupe Holiday Inc. is manufacturer, importer and exporter of quality luggage, business cases, camera and media bags, backpacks, sport bags, hockey bags, ski and board bags, handbags, ladies lunch bags, cosmetic bags, computer bags, straw hats and bags, children’s bags, small leather goods, totes, travel accessories and umbrellas.

 

Brands include AIR CANADA II, ALTITUDE, AVANT GARDE, COLLECTION AVANTAGE, COLLECTION LITE, COLLECTION CREW, COLLECTION CHARTER, and others.

Foreign suppliers include:

ZHEJIANG XINGGE SUITCASE CO., LTD

9F, NO.165, SUNG CHINA ROAD, TAIPEI, TAIWAN

EXCELLENT WAYS HOLDINGS LTD.

RM58FLNO.191.FU-HSING N.ROAD, TAIPEI, TAIWAN

 

Staff:    150

 

Operations & branches:

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

 

 

SHAREHOLDERS & MANAGERS

 

Shareholders:

1st shareholder:

PERSEIS PRIVATE EQUITY LP

49 Wellington Street, Ste 300, Toronto, Ontario M5E 1C9 – Canada

 

2nd shareholder:

CAISSE DE DEPOT ET PLACEMENT DU QUEBEC

65 Rue Sainte-Anne, Quebec, Quebec G1R 3X5 – Canada

 

3rd shareholder:

PERSEIS (QLP) PRIVATE EQUITY LP

49 Wellington Street, Ste 300, Toronto, Ontario M5E 1C9 – Canada

 

Management:

Robin RANKIN, CEO

Raymond DURICHER, President

 

Directors include Vipon GHAI, Gerard McGRATH, Ian D. COLLIER, Brent HOLLISTER.

 

Catherine LECHTER, Secretary

 

 

FINANCIALS

 

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 2014 in the range of CAD 30,000,000=

 

The business is profitable.

 

Banks:  Banque de Montreal

                       

 

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:               January 2015

High credit:                   CAD 80,000

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 250,000

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 1,300

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

Indian Rupees

US Dollar

1

Rs.62.20

UK Pound

1

Rs.95.99

Euro

1

Rs.71.00

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

MNL

 

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.