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MIRA INFORM REPORT
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Report No. : |
504800 |
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Report Date : |
23.04.2018 |
IDENTIFICATION DETAILS
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Name : |
IDEALTEX INC. |
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Registered Office : |
2601 Matheson Blvd East Suite # 203, Mississauga On L4W 5A8 |
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Country : |
Canada |
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Date of Incorporation : |
23.06.2005 |
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Legal Form : |
Corporation |
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Line of Business : |
· Wholesalers of Piece Goods, Notions, and Other Dry Goods. · Wholesale of Textiles. · The company offers polyester cotton printed gowns. |
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No. of Employees : |
4 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Small Company |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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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.
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Source
: CIA |
STATUTORY
INFORMATION
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Legal Name: |
IDEALTEX INC. |
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Trade Names: |
IDEALTEX INC. |
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ID: |
641024-3 (Corporation Number) |
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Date Created: |
2005 |
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Date Incorporated: |
2005-06-23 |
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Legal Address: |
2601 MATHESON BLVD EAST SUITE # 203 MISSISSAUGA ON L4W 5A8 Canada |
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Operative Address: |
2601 MATHESON BLVD EAST SUITE # 203 MISSISSAUGA ON L4W 5A8 Canada |
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Telephone: |
1-905-306 8150 |
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Fax: |
1-905-306 8358 |
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Legal Form: |
CORPORATION |
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Email: |
- |
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Registered in: |
CANADA |
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Website: |
The company does not have a website. |
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Contact: |
MUHAMMAD ARSHAD - Director |
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Staff: |
4 |
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Activity: |
NAICS Code 424310 Piece Goods, Notions, and Other Dry Goods Merchant
Wholesalers |
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Banks
The company does not disclose its banking details. |
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History
The company was founded in
2005. |
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PRINCIPAL
ACTIVITY
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Idealtex Inc. is dedicated to the wholesale of textiles. |
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Products/Services description: |
The company offers polyester cotton printed gowns. |
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Brands: |
The company does not have any brands of its own. |
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Sales are: |
Wholesale |
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Clients: |
Retailers |
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Suppliers: |
Arshad Corporation (Pvt) Limited |
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Operations area: |
National |
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The company imports from |
INDIA |
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The subject employs |
4 Employees |
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Payments: |
No Complaints |
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LOCATION
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Headquarters : |
2601 MATHESON BLVD EAST SUITE # 203 MISSISSAUGA ON L4W 5A8 Canada |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
MRE PARTNERS LLP 2601 Matheson Blvd. E, Suite 204, Mississauga ON., L4W 5A8. |
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GROUP STRUCTURE AND SUBSIDIARY COMPANIES
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Listed at the stock exchange: |
NO |
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Capital: |
NA |
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Shareholders: |
The company does not disclose information on shareholders. We were not
able to confirm major holders. |
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Management: |
MUHAMMAD ARSHAD SHAHZAD AHMED SHEIKH UZMA NADEEM |
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FINANCIAL
INFORMATION
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The company does not make its financial statements
public. Despite our long search, we were not able
to confirm financial figures for the subject. |
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LEGAL
FILINGS
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CASES |
No found. |
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RENEWAL HISTORY |
Date Document Type Document Description 2017-07-31 Annual
Return for 2017. Non-distributing corporation with 50 or fewer shareholders 2016-08-31 Annual
Return for 2016. Non-distributing corporation with 50 or fewer shareholders 2015-07-31 Annual
Return for 2015. Non-distributing corporation with 50 or fewer shareholders 2014-07-31 Annual
Return for 2014. Event Type: Non-distributing corporation with 50 or fewer
shareholders 2014-07-31 Annual
Return for 2014. Non-distributing corporation with 50 or fewer shareholders 2013-12-05 Status
change to Active - Dissolution Pending (Non-compliance) for period 2013-11-23
- 2013-12-05 2013-11-23 Status
change to Active for period 2012-02-27 - 2013-11-23 2013-09-30 Annual
Return for 2013. Event Type: Non-distributing corporation with 50 or fewer
shareholders 2013-09-30 Annual
Return for 2013. Non-distributing corporation with 50 or fewer shareholders 2012-09-30 Annual
Return for 2012. Event Type: Non-distributing corporation with 50 or fewer
shareholders 2012-09-30 Annual
Return for 2012. Non-distributing corporation with 50 or fewer shareholders 2012-02-27 Status
change to Active - Dissolution Pending (Non-compliance) for period 2011-11-29
- 2012-02-27 2011-11-29 Status
change to Active for period 2005-06-23 - 2011-11-29 2005-06-23 Incorporation |
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OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
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SUMMARY
Founded in 2005, Idealtex Inc. is an organization in the Piece Goods,
Notions, and Other Dry Goods Merchant Wholesalers Industry headquartered in
Ontario, Canada. The company has 4 regular employees. It operates nationally, mainly
importing from India. It is ACTIVE in business with no negative records. |
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RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
No Complaints |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
SISLEY LIN |
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POSITION |
- |
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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 Contact Name. She was reluctant to provide financial information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.02 |
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1 |
INR 92.73 |
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Euro |
1 |
INR 81.46 |
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CAD |
1 |
INR 51.92 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.