|
Report No. : |
322287 |
|
Report Date : |
16.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
FUMATEX INC. |
|
|
|
|
Registered Office : |
14625 Carmenita Road, Ste 201, Norwalk, CA 90650 |
|
|
|
|
Country : |
United
States |
|
|
|
|
Date of Incorporation : |
29.01.2003 |
|
|
|
|
Legal Form : |
Corporation – Profit |
|
|
|
|
Line of Business : |
Importer and wholesaler
uniforms, fabrics and notions |
|
|
|
|
No. of Employees : |
2 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Company |
|
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) |
|
United States |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UNITED STATES- ECONOMIC OVERVIEW
The US has the most technologically powerful economy in the
world, with a per capita GDP of $54,800. In 2014, however, US GDP ran second to
China’s, when compared on a Purchasing Power Parity basis; the US lost the top
spot, where it had stood for more than a century. In the US, private
individuals and business firms make most of the decisions, and the federal and
state governments buy needed goods and services predominantly in the private
marketplace. US business firms enjoy greater flexibility than their
counterparts in Western Europe and Japan in decisions to expand capital plant,
to lay off surplus workers, and to develop new products. At the same time, they
face higher barriers to enter their rivals' home markets than foreign firms
face entering US markets. US firms are at or near the forefront in
technological advances, especially in computers and in medical, aerospace, and
military equipment; their advantage has narrowed since the end of World War II.
The onrush of technology has been a driving factor in the gradual development
of a "two-tier labor market" in which those at the bottom lack the
education and the professional/technical skills of those at the top and, more
and more, fail to get comparable pay raises, health insurance coverage, and
other benefits. But the globalization of trade, and especially the rise of
low-wage producers, has put additional downward pressure on wages and upward
pressure on the returns to capital. Since 1975, practically all the gains in household
income have gone to the top 20% of households. Since 1996, dividends and
capital gains have grown faster than wages or any other category of after-tax
income. Imported oil accounts for nearly 55% of US consumption. Crude oil
prices doubled between 2001 and 2006, the year home prices peaked; higher
gasoline prices ate into consumers' budgets and many individuals fell behind in
their mortgage payments. Oil prices climbed another 50% between 2006 and 2008,
and bank foreclosures more than doubled in the same period. Besides dampening
the housing market, soaring oil prices caused a drop in the value of the dollar
and a deterioration in the US merchandise trade deficit, which peaked at $840
billion in 2008. The sub-prime mortgage crisis, falling home prices, investment
bank failures, tight credit, and the global economic downturn pushed the United
States into a recession by mid-2008. GDP contracted until the third quarter of
2009, making this the deepest and longest downturn since the Great Depression.
|
Source
: CIA |
FUMATEX INC.
14625 Carmenita Road, Ste 201, Norwalk, CA 90650 - USA
Telephone: +1
562-229-9661
Fax: -
Website: -
Corporate ID#: C2487062
State: California
Judicial form: Corporation – Profit
Date incorporated: 01-29-2003
Stock: -
Value: -
Name of manager: Riaz
Ahmed MOHAMMAD
Business:
Importer and wholesaler uniforms,
fabrics and notions.
Suppliers include:
M.N.TEXTILES
3, MANDVIWALA CHAMBERS TALPUR ROAD KARACHI 75300 PAKISTAN
EIN: -
Staff: 2
Operations & branches:
At the headquarters, we
find the corporate office, on lease.
Shareholders:
This is a MOHAMMAD family
owned and managed company.
Management:
Riaz Ahmed MOHAMMAD is the
President, Director and CEO
As far as we know, he is not involved in other local corporations.
Subsidiaries
And partnership: None
In United States, privately
held corporations are not required to publish any financials.
We called and left a
message on the voicemail but nobody returned the call.
We sent a mail and will let
you know if we receive an answer.
However, sales estimate for
year 2014 is in the range of USD 250,000=
The business is said to be
low.
Banks: Wells Fargo Bank
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary (UCC): None
Trade references:
Date reported: April 2015
High credit: USD 1,500
Now owing: 0
Past due: 0
Last purchase: March 2015
Line of business: Office supply
Paying status: On terms
Date reported: April 2015
High credit: USD 3,000+
Now owing: 0
Past due: 0
Last purchase: March 2015
Line of business: Payroll
Paying status: As agreed
Date reported: April 2015
High credit: USD 120
Now owing: 0
Past due: 0
Last purchase: March 2015
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
|
Monthly Payment Trends - Recent
Activity |
|
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, domestic
payments were made on terms.
International credit history:
Payments of imports are currently made on terms.
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.
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.57 |
|
|
1 |
Rs.100.30 |
|
Euro |
1 |
Rs.72.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SHG |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.