MIRA INFORM REPORT

Report No. :	492185
Report Date :	17.02.2018

IDENTIFICATION DETAILS

Name :	JGR OPTICS INC.
Registered Office :	160 Michael Cowpland Drive Ottawa Ontario K2M 1P6
Country :	Canada
Date of Incorporation :	2002
Legal Form :	Corporation
Line of Business :	The company provides solutions for passive component and cable assembly testing. Some of JGR’s latest products include the PDL5 Polarization Dependent Loss Meter, the TLS5 Tunable Laser Source for testing of CWDM and PON components and the MS05B and MS08B, the new modular platforms supporting the MS12001 Cable Assembly Test System modules.
No. of Employees :	24

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 (30.06.2017)	Current Rating (30.09.2017)
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:	JGR OPTICS INC.
Trade Names:	JGR OPTICS INC.
ID:	CA7752296
Date Created:	2002
Date Incorporated:	2011-01-13
Legal Address:	160 Michael Cowpland Drive Ottawa Ontario K2M 1P6
Operative Address:	160 Michael Cowpland Drive Ottawa Ontario K2M 1P6
Telephone:	613-599-1000
Fax:	613-599-1099
Legal Form:	CORPORATION
Email:	info@JGRoptics.com
Registered in:	ONTARIO
Website:	www.jgroptics.com
Contact:	Pierre Leonard, President & Board Member
Staff:	24
Activity:	NAICS 1: Telephone Apparatus Manufacturing SIC 1: Fiber Optics Communications Equipment
Banks:	ROYAL BANK OF CANADA
History:
	The company was established in 2002.
PRINCIPAL ACTIVITY
The company provides solutions for passive component and cable assembly testing. Some of JGR’s latest products include the PDL5 Polarization Dependent Loss Meter, the TLS5 Tunable Laser Source for testing of CWDM and PON components and the MS05B and MS08B, the new modular platforms supporting the MS12001 Cable Assembly Test System modules. JGR’s product portfolio also comprises Optical Attenuators, Benchtop and Rackmount Switches and Inspection tools.
Products/Services description:	Wideband Component Test System Environmental Optical Test System Tunable Lasers Optical Attenuators Optical Switches Cable Assembly Test System Backreflection & PDL Meters Polarity Testers Inspection Accessories
Brands:	JGR Optics
Sales are:	Wholesale
Clients:	MOLEX DE MEXICO SA DE CV Mexico FIBRAS OPTICAS DE MEXICO, S.A. DE C.V. Mexico
Suppliers:	NA
Operations area:	National and International
The company imports from	No import records
The company exports to	Mexico
The subject employs	24 employees
Payments:	No Complaints
LOCATION
Headquarters :	160 Michael Cowpland Drive Ottawa Ontario K2M 1P6
Comments on Address:	NA
Branches:	No branches regiestered
Related Companies:	NA
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	Major holder: Pierre Leonard
Management:	Pierre Leonard, President & Board Member Mark Berezny, Product Line Manager
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	1 600 000
Cash flow	Normal
LEGAL FILINGS
CASES
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
Jgr Optics Inc is a small organization in the telephone and telegraph apparatus manufacturers industry located in Kanata, Canada. It opened its doors in 2002 and now has an estimated $1.6 million in yearly revenue and approximately 24 employees. The company operates within national and international markets, exporting to Mexico. Is is ACTIVE in ONTARIO; with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	No Complaints
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Alexandra
POSITION	Human Resources
COMMENTS	She confirmed estimated staff, CEO’S name, ownership, activity, website and products.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.91
UK Pound	1	INR 90.31
Euro	1	INR 80.17
CAD	1	INR 51.27

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

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TRU

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)

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