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Report No. : |
310440 |
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Report Date : |
03.03.2015 |
IDENTIFICATION DETAILS
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Name : |
WEAVERS ART INC. |
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Registered Office : |
348 Davenport Road, Toronto, Ontario M5R 1K6 |
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Country : |
Canada |
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Date of Incorporation : |
18.06.2004 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject is importer and retailer of carpets, rugs, and related
products. |
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No of Employees : |
48 |
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
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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 |
WEAVERS ART INC.
348 Davenport Road, Toronto, Ontario M5R 1K6 - Canada
Telephone: +1
416-929-7929
Fax: +1 416-929-5929
Website: www.weaversart.com
Corporate ID#: ON-0001623108
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 06-18-2004
Stock: -
Value: -
Name of manager: Michael
POURVAKIL
Business:
The Company is importer and retailer of carpets, rugs, and related
products.
Suppliers include:
Ambadi
Enterprises Ltd.
554, Udyog Vihar Phase V, Sector 19, Gurgaon, HR 122001, India
Staff: 48
Operations & branches:
At the headquarters, we find
a large showroom, warehouse and office, on lease.
The Company maintains 2
other showrooms located:
1400 Castlefield Ave
Toronto, Ontario M6B 4N4
162 Bedford Rd
Toronto, Ontario M5R 2K9
Shareholders:
Michael POURVAKIL is a
major shareholder.
Management:
Michael POURVAKIL 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 sales
assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received at this time.
Outside sources (bank) gave
estimate sales for year 2013 in the range of
CAD 3,500,000= (same as
2012)
The business is said to be
profitable.
Banks: TD Bank
…
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None