MIRA INFORM REPORT

Report No. :	503836
Report Date :	16.04.2018

IDENTIFICATION DETAILS

Name :	1214174 ONTARIO INC
Registered Office :	10 Westmore Dr Etobicoke, ON, M9V 3Z7
Country :	Canada
Financials (as on) :	2016 (Summarized)
Year of Establishment :	1996
Legal Form :	Corporation
Line of Business :	· Imports and Retails of Asian Food. · The company offers Dals & Pulses, Dry Fruits, Flours & Sooji Oils & Ghee Organic Staples, Energy & Health Drinks, Fruits Drinks & Juices, Packaged Mineral Water, Soft Drinks, Tea & Coffee, Frozen Vegetables, Fruits Vegetables, Baking Items, Breakfast Cereals, Non Veg Canned Food and Noodles & Pasta Pickles.
No. of Employees :	30

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)
Canada	A1	A1

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

CANADA - ECONOMIC OVERVIEW

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. Canada has a large oil and natural gas sector with the majority of crude oil production derived from oil sands in the western provinces, especially Alberta. Canada now ranks third in the world in proved oil reserves behind Venezuela and Saudi Arabia and is the world’s sixth-largest oil producer.

The 1989 Canada-US Free Trade Agreement and the 1994 North American Free Trade Agreement (which includes Mexico) dramatically increased trade and economic integration between the US and Canada. Canada and the US enjoy the world’s most comprehensive and highly balanced bilateral trade and investment relationship, with merchandise trade of $544 billion in 2016, services trade of over $80 billion, and two-way investment stocks of nearly $700 billion. Over three-fourths of Canada’s exports are destined for the US each year. Canada is the largest foreign supplier of energy to the US, including oil, natural gas, and electric power, and a top source of US uranium imports.

Given its abundant natural resources, highly skilled labor force, and modern capital stock, Canada enjoyed solid economic growth from 1993 through 2007. The global economic crisis of 2007-08 moved the Canadian economy into sharp recession by late 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Since the fall in world oil prices in 2014, Canada has achieved modest economic growth.

Source : CIA

STATUTORY INFORMATION
Legal Name:	1214174 Ontario Inc
Trade Names:	Asian Food Centre
ID:	1214174
Date Created:	1996
Date Incorporated:	1996
Legal Address:	10 Westmore Dr Etobicoke, ON, M9V 3Z7 Canada
Operative Address:	10 Westmore Dr Etobicoke, ON, M9V 3Z7 Canada
Telephone:	(800) 708-9232
Fax:	-
Legal Form:	CORPORATION
Email:	-
Registered in:	CANADA
Website:	www.asianfoodcentre.ca
Contact:	Megor Natt - President & Board Member
Staff:	30
Activity:	NAICS Code 4244 - Grocery and Related Product Merchant Wholesalers
Banks The company does not disclose its banking details.
History The company was founded in 1996.
PRINCIPAL ACTIVITY 1214174 Ontario Inc. imports and retails Asian food.
Products/Services description:	The company offers Dals & Pulses, Dry Fruits, Flours & Sooji Oils & Ghee Organic Staples, Energy & Health Drinks, Fruits Drinks & Juices, Packaged Mineral Water, Soft Drinks, Tea & Coffee, Frozen Vegetables, Fruits Vegetables, Baking Items, Breakfast Cereals, Non Veg Canned Food and Noodles & Pasta Pickles.
Brands:	The company does not have any brands of its own.
Sales are:	Retail
Clients:	Private Customers
Suppliers:	Thakar Exports Shenzhen East China Yawen Furniture Highbright Enterprise Limited Yuan Tai Enterprise Ltd. Richboom Industries Ltd. Refine. Inc.
Operations area:	National
The company imports from	INDIA CHINA JAPAN
The subject employs	30 Employees
Payments:	No Complaints
LOCATION
Headquarters :	10 Westmore Dr Etobicoke, ON, M9V 3Z7 Canada
Comments on Address:	-
Branches:	1214174 Ontario Inc 308 Eddystone Ave North York, ON, M3N 1H7 Canada 1214174 Ontario Inc 350 Humberline Dr Suite 1 Etobicoke, ON, M9W 5S3 Canada
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:	Megor Natt - President & Board Member Jagdish Singh Deo - Vice President & Board Member
FINANCIAL INFORMATION The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	3.890.000
Cash flow	Normal
LEGAL FILINGS
PATENTS	No found.
GOVERNMENT CONTRACTS	No records found.
CASES	No records found.
TRADEMARKS	No records found.
RENEWAL HISTORY	No records found.
UCC	No records found.
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY Founded in 1996, 1214174 Ontario Inc. is an organization in the Grocery and Related Product Merchant Wholesalers Industry headquartered in Ontario, Canada. The company has 30 regular employees and generates an estimated $3.8 million USD in annual revenue. It operates nationally, mainly importing from India, China and Japan. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No complaints
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	-
POSITION	-
COMMENTS	We called number (800) 708-9232 several times and received no answer.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 65.22
UK Pound	1	INR 92.77
Euro	1	INR 80.34
CAD	1	INR 51.86

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

INFORMATION DETAILS

Analysis Done by :	PRA
Report Prepared by :	NIT

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.