MIRA INFORM REPORT

Report No. :	503197
Report Date :	12.04.2018

IDENTIFICATION DETAILS

Name :	TRU FIT GARMENT FACTORY LIMITED
Registered Office :	Lot 4, Century Drive, Trincity
Country :	Trinidad and Tobago
Financials (as on) :	2016 [Summarized]
Date of Incorporation :	1964
Legal Form :	Limited Company
Line of Business :	Subject is a company engaged in the commercialization of clothing for men and boys principally.
No. of Employees :	140

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

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

Country Name	Previous Rating (30.09.2017)	Current Rating (31.12.2017)
Trinidad and Tobago	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
Very High Risk	D

TRINIDAD AND TOBAGO - ECONOMIC OVERVIEW

Trinidad and Tobago relies on its energy sector for much of its economic activity, and has one of the highest per capita incomes in Latin America. Economic growth between 2000 and 2007 averaged slightly over 8% per year, significantly above the regional average of about 3.7% for that same period; however, GDP has slowed down since then, contracting during 2009-12, making small gains in 2013 and contracting again in 2014-17. Trinidad and Tobago is buffered by considerable foreign reserves and a sovereign wealth fund that equals about one-and-a-half times the national budget, but the country is in a recession and the government faces the dual challenge of gas shortages and a low price environment.

Energy production and downstream industrial use dominate the economy. Oil and gas typically account for about 40% of GDP and 80% of exports but less than 5% of employment. Trinidad and Tobago is home to one of the largest natural gas liquefaction facilities in the Western Hemisphere. Trinidad and Tobago produces about nine times more natural gas than crude oil on an energy equivalent basis with gas contributing about two-thirds of energy sector government revenue. The US is the country’s largest trading partner, accounting for 28% of its total imports and taking 48% of its exports.

Economic diversification is a longstanding government talking point, and Trinidad and Tobago has much potential due to its stable, democratic government and its educated, English speaking workforce. The country is also a regional financial center with a well-regulated and stable financial system. Other sectors the Government of Trinidad and Tobago has targeted for increased investment and projected growth include tourism, agriculture, information and communications technology, and shipping. Unfortunately, a host of other factors, including low labor productivity, inefficient government bureaucracy, and corruption, have hampered economic development.

Source : CIA

STATUTORY INFORMATION
Legal Name:	TRU FIT GARMENT FACTORY LIMITED
Trade Names:	TRU FIT GARMENT FACTORY LIMITED
ID:	#122964
Date Created:	1964
Date Incorporated:	1999-04-14
Legal Address:	Lot 4, Century Drive, Trincity, Trinidad And Tobago
Operative Address:	Lot 4, Century Drive, Trincity Industrial State, Trincity, Trinidad And Tobago
Telephone:	(868)662-4810 (868)674 1000
Fax:	(868)645-7285
Legal Form:	Limited Company
Email:	-
Registered in:	TRINIDAD AND TOBAGO
Website:	The company does not have a website.
Contact:	Bernard Hadeed - Director
Staff:	140
Activity:	NAICS 1: Men’s and Boys’ Cut and Sew Apparel Manufacturing SIC 1: Men's And Boy's Suits And Coats
Banks:	The company does not disclose its banking details.
History:	The company was founded in 1964.
PRINCIPAL ACTIVITY
	Tru Fit Garment Factory Ltd. is a company engaged in the commercialization of clothing for men and boys principally.
Products/Services description:	The company offers shirts, pants, suits, vests, etc.
Brands:	The company does not have any brands of its own.
Sales are:	Wholesale
Clients:	Trans Pacific Wholesale Inc
Suppliers:	Shakti Clothings Llp Drashti Imp. & Exp. India Llp
Operations area:	National and International
The company imports from	INDIA
The company exports to	UNITED STATES
The subject employs	140 EMPLOYEES
Payments:	No Complaints
LOCATION
Headquarters :	Lot 4, Century Drive, Trincity Industrial State Trincity, Trinidad And Tobago
Comments on Address:	-
Branches:	No other branches were found.
Related Companies:	No related companies were found.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	The company does not disclose information on shareholders. We were not able to confirm major holders.
Management:	Bernard Hadeed - Director Riad Hadeed - Director Francis Hadeed - Director
FINANCIAL INFORMATION
	The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Sales	16.700.000
Cash flow	Normal
LEGAL FILINGS
CASES	No found.
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
	Founded in 1964, Tru Fit Garment Factory Ltd is a mid-sized organization in the men's and boy's suit and coat manufacturers industry located in Port-Of-Spain, Trinidad & Tobago. It has approximately 140 full-time employees and generates $16.7 million in annual revenue. The company operates nationally and internationally, mainly importing from India. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Stacey
POSITION	Receptionist
COMMENTS	She confirmed the name of the company, the address of the headquarters and location, the date of creation of the company, the number of employees and the name of the Director.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.13
UK Pound	1	INR 92.52
Euro	1	INR 80.59
TTD	1	INR 9.65

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	TPT

RATING EXPLANATIONS

Credit Rating	Explanation	Rating Comments
A++	Minimum Risk	Business dealings permissible with minimum risk of default
A+	Low Risk	Business dealings permissible with low risk of default
A	Acceptable Risk	Business dealings permissible with moderate risk of default
B	Medium Risk	Business dealings permissible on a regular monitoring basis
C	Medium High Risk	Business dealings permissible preferably on secured basis
D	High Risk	Business dealing not recommended or on secured terms only
NB	New Business	No recommendation can be done due to business in infancy stage
NT	No Trace	No recommendation can be done as the business is not traceable

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

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 are as follows:

· Financial condition covering various ratios

· Company background and operations size

· Promoters / Management background

· Payment record

· Litigation against the subject

· Industry scenario / competitor analysis

· Supplier / Customer / Banker review (wherever available)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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