MIRA INFORM REPORT

Report No. :	483790
Report Date :	01.01.2018

IDENTIFICATION DETAILS

Name :	SHAH TRADING COMPANY LIMITED L'ENTREPRISE COMMERCIALE SHAH LIMITEE
Registered Office :	Toronto, 3451 McNicoll Ave, Scarborough, ON M1V2V3
Country :	Canada
Date of Incorporation :	1974
Legal Form :	Federal Corporation with Share Capital
Line of Business :	Subject imports and distributes ethnic food in Canada.
No. of Employees :	180

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+	Low Risk	Business dealings permissible with low risk of default

Status :	Good
Payment Behaviour :	Regular
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:	SHAH TRADING COMPANY LIMITED L'ENTREPRISE COMMERCIALE SHAH LIMITEE
Trade Name:	SHAH TRADING COMPANY LIMITED
ID:	000416592
Date Created:	1974
Date Incorporated:	1976-06-23
Legal Address:	The legal address is not provided in the legal of Canada.
Operative Address:	Toronto 3451 McNicoll Ave Scarborough, ON M1V2V3 Tel: (416) 292-6927
Telephone:	416 292 6927
Fax:	416.292.7932
Legal Form:	Federal Corporation with Share Capital
Email:	info@shahtrading.com
Registered in:	CANADA
Website:	www.shahtrading.com
Contact:	Kirit Shah
Staff:	180
Activity:	Seasoning & Dressing Manufacturing Industry Snack Foods Manufacturing Industry Grain Milling Industry Fruit & Vegetable Processing Industry Food Wholesalers Industry
Banks
The company does not make its banking data public
History
The company was founded in 1974.
PRINCIPAL ACTIVITY
Shah Trading Company Limited imports and distributes ethnic food in Canada.
Products/Services description:	It offers rice and grains, spices and herbs, peas, lentils, nuts and dried fruits, flour, specialty grocery products, oils, black and white evaporated milk, seeds, seasoning products, canned beans and hot sauces, canned fish, dalls, Indian cooking sauces, marinades, sodas, and pops. The company also provides private label packaging services for rice, spices, beans, peas, and lentils; poly pouch co-packing services; dry nut roasting services for cashews, peanuts, pistachios, and pumpkin seeds; custom blending services for spices, herbs, nuts, and dried fruits; and bean processing services.
Brands:	The company does not have any brands.
Sales are:	Wholesale
Clients:	Comercializadora Santo Tomas Sa De Cv ETS FABRE DEVELOPPEMENT FINANCE Multigros
Suppliers:	Agroexportadora E Importadora Chocospices Cia Ltda. Shirosawa Company Saic BROLEM CO. S.A.C Deva Singh Sham Singh
Operations area:	National and International
The company imports from	ECUADOR PARAGUAY PERU INDIA
The company exports to	MEXICO FRANCE MARTINIQUE
The subject employs	180 employees
Payments:	Regular
LOCATION
Headquarters :	Toronto 3451 McNicoll Ave Scarborough, ON M1V2V3 Tel: (416) 292-6927
Comments on Address:	-
Branches:	Montreal 3401 Douglas B. Floreani St. Laurent, QC H4S 1Y6 Tel: (514) 336-2462
Related Companies:	No related companies were found.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	The major holders of this company are Kirit Shah, Kamal Shah and Sanjeev Shah.
Management:	Kirit Shah - President & Board Member Kamal Shah - Director Sanjeev Shah - Director
FINANCIAL INFORMATION
The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	100.000.000
Cash flow	Normal
LEGAL FILINGS
PATENTS	No records found.
GOVERNMENT CONTRACTS	No records found.
CASES	No records found.
TRADEMARKS	DUNYA Preserved and dried beans; processed nuts and seeds; tahini; fruit pulp; olive oil; lemon juice for cooking purposes; pickles… Owned by: Shah Trading Company Limited Serial Number: 85502143 BINA (Based on Use in Commerce) (Based on Intent to Use) dried beans; dried peas Owned by: Shah Trading Company Limited Serial Number: 85502152
RENEWAL HISTORY	No records found.
SUMMARY
Founded in 1974, SHAH TRADING COMPANY LIMITED is a small organization in the Food Wholesalers Industry located in Ontario, Canada. It has approximately 180 regular employees and generates an estimated $ 100M US in annual revenue. The company mainly imports from Peru, Paraguay, Ecuador and India and exports to Mexico, France and Martinique. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	Pamela
POSITION	Assistant
COMMENTS	Pamela confirmed company name, address of the headquarters and location, date of creation and the name of the President.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 63.93
UK Pound	1	INR 86.07
Euro	1	INR 76.39
CAD	1	INR 50.71

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

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	SYL

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.