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MIRA INFORM REPORT
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Report No. : |
516685 |
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Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
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Name : |
NEW MODERN TEXTILE CANADA INC. |
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Registered Office : |
1125-1423 Mississauga Valley Blvd Mississauga ON L5A 4A5 |
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Country : |
Canada |
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Date of Incorporation : |
09.01.2017 |
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Legal Form : |
Corporation |
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Line of Business : |
Wholesalers of Piece Goods, Notions, and Other Dry Goods Merchant. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
NB |
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Credit Rating |
Explanation |
Rating Comments |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 (31.12.2017) |
Current Rating (01.04.2018) |
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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 seventh-largest oil producer.
TThe 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 bilateral trade and investment relationship, with goods and services trade totaling more than $680 billion in 2017, and two-way investment stocks of more than $800 billion. Over three-fourths of Canada’s merchandise 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. Canada’s economy posted strong growth in 2017 at 3%, but most analysts are projecting Canada’s economic growth will drop back closer to 2% in 2018.
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Source
: CIA |
Statutory
Information
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Legal
Name |
New Modern Textile Canada Inc. |
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Trade
Name |
New Modern Textile Canada Inc. |
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ID
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ID
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ID
Details |
Corporation Number:10053309 Business Number:735297491RC0001 |
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Creation
Date |
2017
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Incorporation
Date |
2017-01-09
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Legal
Address |
1125-1423 Mississauga Valley Blvd Mississauga ON L5A
4A5 Canada |
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Operative
Address |
1125-1423 Mississauga Valley Blvd Mississauga ON L5A
4A5 Canada |
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Telephone
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NA
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Fax
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NA
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Legal
Form |
CORPORATION
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E-Mail
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NA
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Registered
In |
CANADA
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Website
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NA
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Contact
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NA
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Staff
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NA
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Activity
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NAICS Code: 424310, Piece Goods, Notions, and Other
Dry Goods Merchant Wholesalers |
Banks
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Name
of Bank |
Reported
Amount |
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There are not informed banks |
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Description
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The company does not disclose its banking details. |
History
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History
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The company was founded in 2017. |
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Key
Developments |
NA
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Parent
Company |
NA
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Principal
Activity
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General
Description |
We have found New Modern Textile Canada Inc. as
being an incorporated company in CANADA. |
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Service/Product
Description |
The
company offers textiles. |
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Sales
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Wholesale
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Operations
Area |
National
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Employees
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NA
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Payments
With Suppliers |
Unknown |
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Comments
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-
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Comments
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-
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Location
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Headquarters
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1125-1423 Mississauga Valley Blvd Mississauga ON L5A
4A5 Canada |
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Branches
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No
branches found. |
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Industries
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NA
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Group
Structure and Subdiary Companies
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Listed at the stock exchange |
NO
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Capital
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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
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NA
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Subsidiary
Companies |
No subsidiary companies were found. |
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Related
Companies |
No related companies were found. |
Financial
Information
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General
Description |
The company does not make its financial statements
public. Despite our long search, we were not able to confirm financial
figures for the subject. |
Legal
Filings
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Lawsuits
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No
records found. |
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Trademarks
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No
records found. |
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Patents
Registered |
No
records found. |
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Renewals
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Annual Examination 01-09 to 03-10 |
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OFAC
Sanctions List Search |
The company is not listed in the OFAC list. |
Summary
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Summary
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Founded in 2017, New Modern Textile Canada Inc. is
an organization in the Piece Goods, Notions, and Other Dry Goods Merchant
Wholesalers Industry headquartered in Canada. The company operates nationally.
It is ACTIVE in business with no negative records. |
Risk
Information
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Debts
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NA
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Payments
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Unknown |
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Cash
Flow |
NA
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State
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Active
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Interview
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First
Name |
-
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Position
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-
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Comments
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Due to the company´s low commercial profile, we were
not able to find a telephone number. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 68.52 |
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1 |
INR 90.60 |
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Euro |
1 |
INR 79.86 |
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CAD |
1 |
INR 51.71 |
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 : |
DNS |
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.