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Report No. : |
346388 |
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Report Date : |
31.10.2015 |
IDENTIFICATION DETAILS
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Name : |
MIG HOLDINGS INC. |
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Registered Office : |
156 Reynolds Street, Oakville, Ontario L6J 3K9 |
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Country : |
Canada |
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Date of Incorporation : |
25.08.1993 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
The Company is Importer and Trader of Groceries, including Pickles,
Preserves, Jellies, and Jams. |
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No. of Employees : |
40 |
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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Maximum Credit Limits : |
CAD 1,500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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
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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: MIG HOLDINGS INC.
Address: 156 Reynolds Street,
Oakville, Ontario L6J 3K9 - Canada
Telephone: +1
905-339-0229
Fax: +1
905-339-0576
Corporate ID#: ON-001042220
State: Ontario
Judicial form: Corporation – Profit
Date incorporated: 08-25-1993
Stock: -
Value: -
Name of manager: Manik
VEERAKUMAR
Business:
The Company is importer and trader of groceries, including pickles,
preserves, jellies, and jams.
Foreign suppliers include:
INTERNATIONAL AGRICULTURAL PROCESSING PVT. LTD.
332-5A, PERENAI ROAD, MUSUVANUTHU 624 219 NILAKOTTAI, TAMIL NADU INDIA
VISHAAL NATURAL FOOD PRODUCTS OFF
162 B STREET, 1ST MAIN, SESHADRIPURAM BANGALORE 560 020 INDIA
Staff: 40
Operations & branches:
At the headquarters, we
find a warehouse and office.
Shareholders:
Manik VEERAKUMAR is a major
shareholder.
Management:
Manik VEERAKUMAR is the
President and CEO.
Kana PARTHIPAN is a
Manager.
As far as we know, they are 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, nobody
accepted to answer our questions.
We sent a fax but no answer
received.
However, sales estimate for
year 2014 is in the range of CAD 80,000,000=
The business is said to be
profitable.
Banks: Scotia Bank
HSBC
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts
summary:
None