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Report No. : |
348314 |
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Report Date : |
10.11.2015 |
IDENTIFICATION DETAILS
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Name : |
ECO-TEC INC. |
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Registered Office : |
1145 Squires Beach Road, Pickering, Ontario L1W 3T9 |
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Country : |
Canada |
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Date of Incorporation : |
18.09.1986 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject designs, develops, and manufactures equipment for industrial
water treatment and purification of chemicals and gases. |
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No. of Employees : |
80 |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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, and electric power, and
a top source of US uranium imports. 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 early intervention by the Bank
of Canada and the financial sector's tradition of conservative lending
practices and strong capitalization. Canada achieved marginal growth in 2010-14
and plans to balance the budget by 2015 despite the recent drop in oil prices.
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 and is the world’s fifth-largest oil producer.
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Source
: CIA |
Company name: ECO-TEC INC.
Address: 1145 Squires Beach Road, Pickering,
Ontario L1W 3T9 – Canada
Telephone: +1
905-427-0077
Fax: +1 905-427-4477
Website: www.eco-tec.com
Corporate ID#: ON-001405580
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: April 1,
2000
Date founded: September 18, 1986
Stock: -
Value: -
Name of manager: PHILIP
SIMMONS
History:
A former ECO-TEC INC. was
incorporated in Ontario on 09-18-1986 under
ID# 000682719 merged into
the new ECO-TEC INC. on 04-01-2000.
Business:
Eco-Tec designs, develops, and manufactures equipment for industrial
water treatment and purification of chemicals and gases.
Eco-Tec exports to over 50 countries including the U.S., Europe, Japan,
the Far East and India.
No name of foreign suppliers available.
Staff: 80
Operations & branches:
At the headquarters, we
find a factory, warehouse and office, owned.
The Company maintains a
branch located:
400 5th Avenue SW, Ste 325
Calgary, Alberta T2P 0L6
Ph: +1 403-303-2855
Fx: +1 403-264-9218
Shareholders:
This is a private Company.
Management:
Philip J. SIMMONS is the President and CEO.
Jeff POTTER is the CFO.
As far as we know, they are involved in other corporations, including:
ECO-TEC LIMITED
Incorporated in Ontario on 11-04-1970
ID# ON-000238662
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a financial
assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received.
However, sales estimate for
year 2014 is in the range of CAD 11,000,000=
The business is profitable.
Banks: Royal Bank of Canada
…
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Trade references:
Date reported: October 2015
High credit: CAD 15,000
Now owing: 0
Past due: 0
Last purchase: September 2015
Line of business: Office supply
Paying status: On terms
Date reported: October 2015
High credit: CAD 90,000
Now owing: 0
Past due: 0
Last purchase: August 2015
Line of business: Payroll
Paying status: As agreed
Date reported: October 2015
High credit: CAD 520
Now owing: 0
Past due: 0
Last purchase: September 2015
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
National Credit Bureaus gave
a satisfying credit risk.
According to our credit analysts, during the last 6 months, domestic
payments were made on due date.
Other comments:
The Company is developing
its business.
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.34 |
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1 |
Rs.100.03 |
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Euro |
1 |
Rs.71.45 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.