MIRA INFORM REPORT

Report No. :	311413
Report Date :	13.03.2015

IDENTIFICATION DETAILS

Name :	SUMITOMO CANADA LIMITED
Registered Office :	380 Rue Saint-Antoine Ouest, Ste 3131, Montreal, Quebec H2Y 3X7
Country :	Canada
Date of Incorporation :	12.05.1961
Legal Form :	Corporation – Profit
Line of Business :	Subject provides trading, distribution, finance, logistics, investment, and project coordination services.
No. of Employees :	70

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 and address

Company name: SUMITOMO CANADA LIMITED (in English)

SUMITOMO CANADA LIMITEE (in French)

Address: 380 Rue Saint-Antoine Ouest, Ste 3131

Montreal, Quebec H2Y 3X7 - Canada

Telephone: +1 514-878-3597

Fax: +1 514-871-0224

Website: www.sumitomocanada.com

Company Summary

Corporate ID#: 00C373346

State: British Columbia

Judicial form: Corporation – Profit

Date incorporated: May 12, 1961

Stock: -

Value: -

Name of manager: Brian LAMBERT

ACTIVITIES & OPERATIONS

IST

Business:

Sumitomo Canada Limited provides trading, distribution, finance, logistics, investment, and project coordination services to Canadian companies and companies seeking to do business in Canada.

It offers tubular products, which include OCTG (casing and tubing), carbon, duplex stainless, and high alloys; OCTG accessories; oilfield equipment accessories; line pipes and standard pipes; and specialty tubes, including carbon, chromium, and stainless steel tubes.

The company also provides railway products, such as intermediate and premium grade rails, tie plates, crossties, and wheels and axles.

In addition, it offers electrical steel products, including grain oriented electrical steel, non-oriented electrical steel, wound cores, and stacked cores.

Further, the company provides foodstuff, including barley malt, organic malt, malt extracts, specialty malt, beans, marrowfat peas, other dry beans and peas, IP foodgrade soybeans, organic juice concentrate, purees, juice concentrate, blueberries, vegetables, dried fruit and vegetable, vegetable juices, organic and conventional frozen fruits, raw honey, creamed or homogenized Honey, canned corn in various sizes, low liquid canned beans, and quality canned soups. Furthermore, it offers mineral resources, such as non ferrous metals and raw materials, copper concentrates, zinc concentrates, lead concentrates, and precious metal concentrates. Sumitomo Canada Limited was founded in 1961 and is based in Toronto, Canada. The company has additional offices and branches in Toronto, Calgary, Edmonton, and Acheson, Canada. Sumitomo Canada Limited operates as a subsidiary of Sumitomo Corporation of the Americas.

Foreign suppliers include:

PROSPERITY TIEH ENTERPRISE CO.

LTD. NO.639 AN-JAU RD. YENCHAO HSIANG KAOHSIUNG HSIEN, TAIWAN

Staff: 70

Operations & branches:

At the headquarters, we find the corporate office.

The Company maintains a major office located.

150 King Street West, Suite 2304
Toronto, Ontario M5H 1J9
Ph: +1 416.860.3800
Fx: +1 416.365.3141

SHAREHOLDERS & MANAGERS

Shareholders:

1^st shareholder (+50%):

SUMITOMO CORPORATION OF AMERICA

600 3^rd Avenue

New York, NY 10016 – USA

2^nd shareholder:

SUMITOMO CORPORATION

8-11 Harumi 1-Chome Chuo-Ku

Tolyo 104-8610 Japan

Management:

Akira SHIMA, President

Shigeki TATEYAMA, Toshikazu NAMBU, Directors

Brian LAMBERT, General Manager

Pierre LEMAIRE, Secretary

Subsidiaries and partnership:

None

FINANCIALS

In Canada, privately held corporations are not required to publish any financials.

On a direct call, a financial assistant controlled the present report.

Sales declared for year 2014 is in the range of CAD 60,000,000+

The business is profitable.

Banks: Royal Bank of Canada

LEGAL FILINGS

Legal filings & complaints:

As of today date, there is no legal filing pending with the Courts.

Secured debts summary (UCC):

None

COMPANY CREDIT HISTORY

Trade references:

Date reported: February 2015

High credit: CAD 30,000

Now owing: 0

Past due: 0

Last purchase: January 2015

Line of business: Office supply

Paying status: On terms

Date reported: February 2015

High credit: CAD 120,000

Now owing: 0

Past due: 0

Last purchase: January 2015

Line of business: Payroll

Paying status: As agreed

Date reported: February 2015

High credit: CAD 1,200

Now owing: 0

Past due: 0

Last purchase: January 2015

Line of business: Telecommunications

Paying status: On terms

Domestic credit history:

Domestic credit history appears as follow:

Monthly Payment Trends - Recent Activity

Date	Balance	Current	Up to 30 DBT	31-60 DBT	61-90 DBT	>90 DBT
09/14	$61,800	100%	0%	0%	0%	0%
10/14	$57,900	100%	0%	0%	0%	0%
11/14	$60,600	100%	0%	0%	0%	0%
12/14	$61,800	100%	0%	0%	0%	0%
01/15	$61,400	100%	0%	0%	0%	0%
02/15	$60,900	100%	0%	0%	0%	0%

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.

Last report was filed on 09-22-2014.

The risk is low.

Our opinion:

A business connection may be conducted.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.57
UK Pound	1	Rs.93.57
Euro	1	Rs.65.95

INFORMATION DETAILS

Analysis Done by :	SUB
Report Prepared by :	NIT

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.