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Report No. : |
339154 |
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Report Date : |
07.09.2015 |
IDENTIFICATION DETAILS
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Name : |
MODES CORWIK INC. |
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Registered Office : |
225 Rue Chabanel Ouest, Ste 200, Montreal, Quebec H2N 2C9 |
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Country : |
Canada |
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Date of Incorporation : |
14.08.1978 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Importer and Designer of Women's Apparel. |
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No. of Employees : |
150 [For the Group] |
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
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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: MODES CORWIK INC.
Headquarters: 225 Rue Chabanel Ouest, Ste 200
Montreal, Quebec H2N 2C9 –
Canada
Telephone: +1
514-381-5393
Fax: +1 514-381-3775
Website: www.corwik.com
Corporate ID#: 11443983865
State: Quebec
Judicial form: Corporation – Profit
Date incorporated: 03-22-1995
Date founded: 08-14-1978
Stock: -
Value: -
Name of manager: Freddy
TWIK
Business:
Corwik is a leading importer and designer of women's apparel.
The Company is using the following business names:
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NORTH AMERICA |
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NORTH AMERICA BY DALIA-SPORT |
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OBLIGE - (REG'D TRADE MARK NO: TMA 341,031) |
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QUADRA FASHIONS |
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RENUAR |
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STUDIO LONDON |
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TAZEX - (REG'D TRADE MARK NO: TMA 397,147) |
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VETEMENTS QUADRA |
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WALL STREET - (REG'D TRADE MARK NO: TMA 404,876) |
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WAY-IN |
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WAYWARD BY DALIA-SPORT (REG'D TRADE MARK NO: TMA 418,132) |
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WHITE ON WHITE - (REG'D TRADE MARK NO: TMA 390,876) |
MODES CORWICK
CORWICK
MANUFACTURING CO.
Staff: 150 (for the group)
Operations & branches:
At above address, we find
the corporate office, on lease.
The Company maintains a
branch located:
IMAGE DE LA MODE
6001 Rue Jean-Talon Est
Montreal, Quebec H1S 1M5
Canada
Shareholders:
9184-3706 QUEBEC INC. (+50%)
225 Rue Chabanel Ouest, Ste 200
Montreal, Quebec H2N 2C9
Management:
Freddy TWIK, President and
CEO
Ayal TWIK, Vice President
and Treasurer
Shai TWIK, Vice President
and Secretary
Hezi TWIK, Vice President
Shelley TWIK, Director
Subsidiaries
And partnership:
- 3103-2964 QUEBEC INC.
- CORWIK INTERNATIONAL INC.
and others.
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.
On a direct call, a
financial assistant controlled the present report.
We sent a fax but no answer
received.
Consolidate sales declared
for year 2014 is in the range of CAD 50,000,000+
The business is said to be
profitable.
Banks: Banque de Montreal
...
Legal filings & complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: Several
Trade references:
Date reported: July 2015
High credit: CAD 30,000
Now owing: 0
Past due: 0
Last purchase: June 2015
Line of business: Office supply
Paying status: On terms
Date reported: July 2015
High credit: CAD 200,000
Now owing: 0
Past due: 0
Last purchase: June 2015
Line of business: Payroll
Paying status: As agreed
Date reported: July 2015
High credit: CAD 600
Now owing: 0
Past due: 0
Last purchase: June 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.
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
11-20-2014.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.40 |
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1 |
Rs.101.19 |
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Euro |
1 |
Rs.73.89 |
INFORMATION DETAILS
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Analysis Done by
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TRI |
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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.