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Report No. : |
303011 |
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Report Date : |
15.01.2015 |
IDENTIFICATION DETAILS
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Name : |
GRANDMA’S SPICES & FOODS INC. |
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Registered Office : |
464 Fraserview Place, Unit 3B Delta, British Columbia V3M 6H4 - |
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Country : |
Canada |
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Date of Incorporation : |
18.02.1991 |
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Legal Form : |
Federal Corporation – Profit |
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Line of Business : |
Importer and wholesaler of food products, spices and
related products |
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No. of Employees : |
06 |
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 – September 30, 2014
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Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
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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: GRANDMA’S SPICES & FOODS INC.
Address: 464 Fraserview Place, Unit 3B
Delta, British Columbia V3M 6H4 - Canada
Telephone: +1 604-525-8381
Fax: +1 604-525-8361
Email: info@grandmaspices.ca
Corporate ID#: 2663589
State: Federal
Judicial form: Federal Corporation – Profit
Date incorporated: 02-18-1991
Stock: -
Value: -
Name of
manager: Thomas Vayalil KOLLATTU
Business:
The Company is importer and wholesaler of food products, spices and related products.
No name of foreign suppliers available.
Staff: 6
Operations
& branches:
At the
headquarters, we find the corporate office and warehouse, on lease.
Shareholders:
Thomas
Vayalil KOLLATTU is a major shareholder.
Management:
Thomas Vayalil KOLLATTU 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, the manager controlled the present report and gave sales for year 2013 up
to CAD 2,500,000=
The
business is profitable.
Banks: Scotia Bank
12040 Nordel Way, Surrey, BC
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Haut du formulaire
Trade
references:
Date
reported: December 2014
High
credit: CAD 3,000
Now owing: 0
Past due: 0
Last
purchase: November 2014
Line of
business: Office supply
Paying
status: On terms
Date
reported: December 2014
High
credit: CAD 12,000
Now owing: 0
Past due: 0
Last
purchase: November 2014
Line of
business: Payroll
Paying
status: As agreed
Date
reported: December 2014
High
credit: CAD 300
Now owing: 0
Past due: 0
Last
purchase: November 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 its business.
The bank
confirmed a regular account.
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.15 |
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1 |
Rs.94.24 |
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Euro |
1 |
Rs.73.30 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
NIS |
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.