|
|
|
MIRA INFORM REPORT
|
Report No. : |
486608 |
|
Report Date : |
19.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
ITN FOOD CORPORATION |
|
|
|
|
Registered Office : |
26 Ann Louise Crescent, Markham Ontario, L3S 0A8 |
|
|
|
|
Country : |
Canada |
|
|
|
|
Date of Incorporation : |
1988 |
|
|
|
|
Legal Form : |
Corporation |
|
|
|
|
Line of Business : |
Subject is an importer, exporter, manufacturer and distributor of
specialty food products. |
|
|
|
|
No. of Employees : |
28 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
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: |
ITN FOOD CORPORATION |
|
Trade Names: |
ITN FOOD CORPORATION |
|
ID: |
CA3061078 |
|
Date Created: |
1988 |
|
Date Incorporated: |
1994-08-19 |
|
Legal Address: |
26 Ann Louise Crescent Markham Ontario L3S 0A8 |
|
Operative Address: |
40 Commander Boulevard Toronto, ON M1S 3S2 Canada |
|
Telephone: |
(416) 321-2052 |
|
Fax: |
(416) 321-2063 |
|
Legal Form: |
Corporation |
|
Email: |
mail@itnfoodcorp.com |
|
Registered in: |
CANADA |
|
Website: |
www.itnfoodcorp.com |
|
Contact: |
Mr. M. Z. Ansari - Chairman & Founder |
|
Staff: |
28 |
|
Activity: |
NAICS 1: Other Grocery and Related Products Merchant Wholesalers NAICS 2: General Line Grocery Merchant Wholesalers SIC 1: Spices And Seasonings SIC 2: Groceries, General Line |
|
|
|
|
Banks: |
The company does not disclose its banking details. |
|
|
|
|
History: |
ITN Food Corporation is a family run and operated company founded in
1988 by Mr. M. Z. Ansari. |
|
|
|
PRINCIPAL
ACTIVITY
|
|
|
|
ITN Food Corporation is an importer, exporter, manufacturer and
distributor of specialty food products. |
|
Products/Services description: |
The company offers Small Red Adzuki Beans,Dreid Beans, Shelled Beans,
Lentils, Dried Grapes, Dried Apricots, Cinnamon, Rice, Mixes And Doughs For
The Preparation Of Bakerswares Of Biscuits, Waffles and Gingerbread, Uncooked
Pasta, Vegetables, Fruits, Nuts, Flavouring Powders, Sweets, Gums, Beauty Or
Make-Up Preparations, Hair Preparations, Tableware And Kitchenware, Cloves,
Seeds Of Coriander, Curcuma, Cereals, Snacks, Chickpeas, Mustard Seeds, Sugar
Confectionery, Tapioca And Substitutes Prepared From Starch In Flake, Grain,
Pearl, Sifting Or Similar Forms. |
|
Brands: |
ITN |
|
Sales are: |
Wholesale |
|
Clients: |
Retailers |
|
Suppliers: |
Teff Growers Sa (Pty) Ltd Shijiazhuang Darling Trading Co. Ltd Sudhir Sheth Adf Foods Limited Pran Dairy Ltd Prataap Snacks Private Limited |
|
Operations area: |
National and International |
|
The company imports from |
SOUTH AFRICA CHINA INDIA |
|
The subject employs |
28 employees |
|
Payments: |
No Complaints |
|
|
|
LOCATION
|
|
|
Headquarters : |
40 Commander Boulevard Toronto, ON M1S 3S2 Canada |
|
Comments on Address: |
- |
|
Branches: |
Vancouver 12 - 12777 76A Ave. Surrey, BC V3W 4Y8, Canada Calgary 801 – 30th Street Bay 4 Calgary, AB T2A 5L7, Canada |
|
Related Companies: |
Detroit, USA 9451 Buffalo Street Hamtramck, MI 48212, USA |
|
|
|
GROUP
STRUCTURE AND SUBSIDIARY COMPANIES
|
|
|
Listed at the stock exchange: |
NO |
|
Capital: |
NA |
|
Shareholders: |
This is a private company. The major holder is: Mr. M. Z. Ansari. |
|
Management: |
Mr. M. Z. Ansari - Chairman & Founder Mrs. L. S. Ansari - Vice Chairman Tariq S. Ansari - Vice President Talha S. Siddiqui - Deputy General Manager USA Sadiq O. Ansari - Deputy General Manager Canada LATEEF S. ANSARI - Director |
|
|
|
FINANCIAL
INFORMATION
|
|
|
|
The company does not make its financial
statements public. The following information has been provided by private
sources: |
|
|
|
|
USD 2016 |
|
|
Revenue |
4.000.000 |
|
Cash flow |
Normal |
|
|
|
LEGAL
FILINGS
|
|
|
|
|
|
PATENTS |
No found. |
|
|
|
|
GOVERNMENT CONTRACTS |
No records found. |
|
|
|
|
CASES |
No records found. |
|
|
|
|
TRADEMARKS |
Trademark
applications by ITN FOOD CORPORATION ITN FOOD CORPORATION is the Owner at publication for the trademark KHASTA ™ (85796101) through the USPTO
on the 2012-12-06 Cooking oil, almond oil, peanut oil, coconut oil, edible oils,
processed beans, dried beans, canned beans, canned vegetables, processed
vegetables, onion rings and packaged fried onions, canned foods, legumes,
dried lentils ITN FOOD CORPORATION is the Owner at publication for the trademark MINAR ™ (77337552) through the USPTO
on the 2007-11-27 The color(s) red, black, white, gold is/are claimed as a feature of
the mark. ITN FOOD CORPORATION is the Original registrant for the trademark MINAR ™ (77337552) through the USPTO
on the 2007-11-27 The color(s) red, black, white, gold is/are claimed as a feature of
the mark. ZABARDAST Lentils; Processed beans Owned by: ITN FOOD CORPORATION Serial Number: 77337598 ITN fresh frozen meat, seafood, poultry, cooking oil, almond oil, peanut
oil, coconut oil, edible oils, processed beans, dried… Owned by: ITN FOOD CORPORATION Serial Number: 85794193 KHASTA Cooking oil, almond oil, peanut oil, coconut oil, edible oils,
processed beans, dried beans, canned beans, canned vegetables… Owned by: ITN FOOD CORPORATION Serial Number: 85796101 |
|
|
|
|
RENEWAL HISTORY |
Date Document Type Document Description 2017-01-02 Annual
Return for 2017. Non-distributing corporation with 50 or fewer shareholders 2016-01-02 Annual
Return for 2016. Non-distributing corporation with 50 or fewer shareholders 2016-00-00 Change
of registered office from 7605 NINTH LINE , MARKHAM,L6B 0M1 2015-08-19 Change
of registered office from 21 STRAWBERRY HILLS DRIVE SCARBOROUGH Ontario M1V
3X9 since 1998-10-05 2015-01-02 Annual
Return for 2015. Non-distributing corporation with 50 or fewer shareholders 2014-11-13 Notice
of British Columbia, Canada Registrar of Companies that company has
registered for extraprovincial registration. Number A0093741. 2014-01-02 Annual
Return for 2014. Event Type: Non-distributing corporation with 50 or fewer
shareholders 2014-01-02 Annual
Return for 2014. Non-distributing corporation with 50 or fewer shareholders 2012-01-03 Annual
Return for 2012. Event Type: Non-distributing corporation with 50 or fewer
shareholders 2012-01-03 Annual
Return for 2012. Non-distributing corporation with 50 or fewer shareholders 2012-01-02 Annual
Return for 2013. Event Type: Non-distributing corporation with 50 or fewer
shareholders 2012-01-02 Annual
Return for 2013. Non-distributing corporation with 50 or fewer shareholders 2011-07-31 Amendment
section 178 1994-08-19 Incorporation 1994-08-19 Change
to applicable company legislation Canada Business Corporations Act for period
1994-08-18 - 1994-08-19 |
|
|
|
|
UCC |
No records found. |
|
|
|
|
OFAC Sanctions List Search |
The company is not listed in the OFAC list. |
SUMMARY
|
|
|
|
Founded in 1988, ITN Food Corporation is a small organization in the
grocery companies industry located in Scarborough, Canada. It has approximately 28 full-time employees and generates an estimated
$4 million in annual revenue. The company operates nationally and internationally, mainly importing
from South Africa, China and India. It is ACTIVE in business with no negative
records. |
|
|
|
RISK
INFORMATION
|
|
|
DEBTS |
Controlled |
|
PAYMENTS |
No Complaints |
|
CASH FLOW |
Normal |
|
STATUS |
Active |
|
|
|
|
INTERVIEW |
|
|
NAME |
Aratna |
|
POSITION |
Secretary |
|
COMMENTS |
She confirmed the name of the company, the address of the headquarters
and location and the date of creation of the company. She was reluctant to
provide further information. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.97 |
|
|
1 |
INR 88.13 |
|
Euro |
1 |
INR 78.35 |
|
CAD |
1 |
INR 51.26 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
TPT |
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)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.