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MIRA INFORM REPORT
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Report No. : |
490361 |
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Report Date : |
07.02.2018 |
IDENTIFICATION DETAILS
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Name : |
TEXTILE TITAN INTERNATIONAL INC. |
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Registered Office : |
10200 boul. Louis-H.-La Fontaine
Montréal (Québec) H1J2T3 |
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Country : |
Canada |
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Date of Incorporation : |
12.07.1999 |
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Legal Form : |
Joint stock company or company |
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Line of Business : |
Subject is dedicated to the wholesale of
textiles. |
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No. of Employees : |
7 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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: |
TEXTILE TITAN INTERNATIONAL INC. |
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Trade
Names: |
TEXTILE TITAN INTERNATIONAL INC. |
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ID: |
1148684609 |
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Date Created: |
1999 |
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Date Incorporated: |
1999-07-12 |
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Legal Address: |
10200 boul. Louis-H.-La Fontaine Montréal (Québec) H1J2T3 Canada |
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Operative Address: |
10200 boul. Louis-H.-La Fontaine Montréal (Québec) H1J2T3 Canada |
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Telephone: |
514 353-2689 |
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Fax: |
514 353-2603 |
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Legal Form: |
Joint stock
company or company |
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Email: |
info@startwithyarns.com |
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Registered in: |
Canada |
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Website: |
www.startwithyarns.com |
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Contact: |
FREDERICK DANCAUSE – Vice President |
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Staff: |
7 |
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Activity: |
NAICS 1: Piece Goods, Notions, and Other
Dry Goods Merchant Wholesalers SIC 1: Textiles, Woven, Nec |
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Banks: |
The company does not disclose its
banking details. |
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History: |
The company was founded in 1999. |
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PRINCIPAL
ACTIVITY
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Titan Textile International Inc. is
dedicated to the wholesale of textiles. |
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Products/Services description: |
The company offers fibers and yarns. |
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Brands: |
TITAN |
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Sales are: |
Wholesale |
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Clients: |
Retailers |
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Suppliers: |
Acelon Chemicals & Fiber Valson Polyester Pvt.Ltd. Loyal Textiles Mills Ltd |
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Operations area: |
National |
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The company
imports from |
TAIWAN INDIA |
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The company exports to |
No export records found. |
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The subject employs |
7 employees |
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Payments: |
Slow but Correct |
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LOCATION
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Headquarters : |
10200 boul. Louis-H.-La Fontaine Montréal (Québec) H1J2T3 Canada |
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Comments on Address: |
- |
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Branches: |
No other branches were found. |
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Related Companies: |
No related companies were found. |
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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 major holders of this company are: 1705 ch. Hemming Drummondville (Québec)
J2B8Y7 Canada Dancause, Frederick 4415 rue Parthenais Montréal (Québec)
H2H2G6 Canada |
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Management: |
GILLES DESMARAIS – President FREDERICK DANCAUSE – Vice President |
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FINANCIAL
INFORMATION
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The company
does not make its financial statements public. The following information has
been provided by private sources: |
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USD 2016 |
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Revenue |
1.500.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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CASES |
No records found. |
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TRADEMARKS |
No records found. |
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RENEWAL HISTORY |
Type of document Date of filing 2016 ANNUAL UPDATE DECLARATION
2017-03-30 2015 ANNUAL UPDATE DECLARATION
2016-09-27 Current update statement 2016-06-25 Current update statement 2015-08-19 Current update statement 2015-07-10 Current update statement 2015-07-09 2014 ANNUAL UPDATE STATEMENT 2015-06-23 2013 ANNUAL UPDATE STATEMENT 2014-06-04 Current update statement 2014-01-17 2012 ANNUAL UPDATE STATEMENT 2013-01-28 2011 ANNUAL UPDATE DECLARATION
2012-07-19 Current Update Statement 2012-02-29 |
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OFAC Sanctions List Search |
The company is not listed in the OFAC
list. |
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SUMMARY
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Founded in 1999, Textile Titan International
Inc is a small organization in the piece goods and notion company’s industry
located in Anjou, Canada. It has approximately 7 full-time
employees and generates an estimated $1.4 million in annual revenue. The company operates nationally, mainly
importing from Taiwan and 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 |
Slow but Correct |
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CASH FLOW |
Normal |
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STATUS |
Active |
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INTERVIEW
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NAME |
Carol |
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POSITION |
Sales |
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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 name of the Vice President. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.27 |
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1 |
INR 89.72 |
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Euro |
1 |
INR 79.52 |
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CAD |
1 |
INR 51.30 |
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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NIY |
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Report Prepared
by : |
TRU |
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
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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.