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Report No. : |
307167 |
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Report Date : |
19.02.2015 |
IDENTIFICATION DETAILS
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Name : |
WESTWAY TRADING INC. |
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Registered Office : |
4515 Ebenezer Road, Ste 203, Brampton, Ontario L6P 2K7 |
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Country : |
Canada |
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Date of Incorporation : |
05.08.2014 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Any Lawful Business [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employees : |
01 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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) |
|
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.
|
Source
: CIA |
Company name: WESTWAY TRADING INC.
Address: 4515 Ebenezer Road, Ste
203, Brampton, Ontario L6P 2K7 – Canada
Telephone: -
Fax: -
Website: -
Corporate ID#: 2429051
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: August 5,
2014
Stock: -
Value: -
Name of manager: MAHAL
JASWINDER
Business:
Any lawful business.
No name of foreign suppliers available.
Staff: 1
Operations & branches:
At the headquarters, we
find the office of RBR Law Prabhjot Kaur B.Com LL.B. Barrister & Solicitor.
Ph:
+1 905-794-8333
Shareholders:
- Jaswinder Mahal
- Rohit Narang
Management:
Rohit Narang, President and
Director
Jaswinder Mahal, Director
and General Manager
Subsidiaries and partnership:
None
In Canada, privately held
corporations are not required to publish any financials.
That business is not listed
with the White and Yellow Pages.
On a direct call to the
officer of Lawyers, a Secretary confirmed the existence of the business but
deferred any ther information.
Banks: n/a
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
No trade references
available.
No domestic credit history.
National Credit Bureaus
gave a satisfying correct medium credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made with an average of
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 with an average of 2 to 5 days
beyond terms.
The Company is improving
its payments, but the cash is low, due to high inventories and bad conditions
of the market.
Payments of imports are currently made on terms.
Our opinion:
Due to the lack of
information, we suggest you to be careful.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.25 |
|
|
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.00 |
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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|
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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.