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MIRA INFORM REPORT
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Report No. : |
496276 |
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Report Date : |
10.03.2018 |
IDENTIFICATION DETAILS
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Name : |
1718342 ONTARIO LIMITED |
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Registered Office : |
80 Maritime Ontario Boulevard, Unit 239, Brampton, ON L6S
0E7 Canada |
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Country : |
Canada |
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Date of Incorporation : |
2007 |
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Legal Form : |
Corporation |
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Line of Business : |
Wholesale of quality rags and used clothing. |
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No. of Employees : |
1 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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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Order: |
RAGS SOLUTIONS (The name given in the order is the company`s trade name) |
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Address in the order: |
15 VANWOOD CRESCENT BRAMPTON, ONTARIO L6P 2X4 |
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Legal Name: |
1718342 Ontario Limited |
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Trade Names: |
RAGS SOLUTIONS |
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ID: |
1718342 |
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Date Created: |
2007 |
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Date Incorporated: |
2007 |
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Legal Address: |
80 Maritime Ontario Boulevard Unit 239, Brampton, ON L6S 0E7 Canada |
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Operative Address: |
80 Maritime Ontario Boulevard Unit 239, Brampton, ON L6S 0E7 Canada |
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Telephone: |
+1 (905) 487-7405 |
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Fax: |
+1 (888) 678-6808 |
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Legal Form: |
CORPORATION |
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Email: |
ragsolutionscanada@gmail.com |
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Registered in: |
CANADA |
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Website: |
www.ragsolutions.com |
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Contact: |
Sunil Mehtani - President |
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Staff: |
1 |
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Activity: |
NAICS 1: Used Merchandise Stores SIC 1: Clothing, Secondhand |
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Banks: |
The company does not disclose its banking details. |
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History: |
The company was founded in 2007. |
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PRINCIPAL
ACTIVITY
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Rag Solutions Inc. is dedicated to the wholesale of quality rags and
used clothing. |
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Products/Services description: |
The company offers: Credential Clothing Tropical Mix Tropical Assortment Mixed Sweaters and Wool Bodies (Cut/Uncut) Wiping Rags (Cut/Uncut) Graded Clothes Used Shoes Used Toys (hard/soft) Used Purses and Belts |
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Brands: |
The company does not have any brands of its own. |
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Sales are: |
Wholesale |
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Clients: |
Us Clothing( India ) Pvt Ltd |
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Suppliers: |
NA |
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Operations area: |
National and International |
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The company exports to |
INDIA |
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The subject employs |
1 employee |
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Payments: |
Slow but Correct |
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LOCATION
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Headquarters : |
80 Maritime Ontario Boulevard Unit 239, Brampton, ON L6S 0E7 Canada |
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Comments on Address: |
The address given in the order is the company`s old
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 company does not disclose information on shareholders. The
following information has been obtained through private sources and could not
be confirmed: The major holder of this company is: |
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Management: |
Sunil Mehtani - 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 |
89.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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PATENTS |
No records found. |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
No records found. |
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TRADEMARKS |
No records found. |
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RENEWAL HISTORY |
No records found. |
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UCC |
No records found. |
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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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1718342 Ontario Limited is a small organization in the used
merchandise stores industry located in Mississauga, Canada. It opened its doors in 2007 and now has an estimated $89.000 USD in
yearly revenue and approximately 1 employee. The company operates nationally and internationally, mainly exporting
to India. It is ACTIVE in business with no negative records. |
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 |
Sunil Mehtani |
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POSITION |
President |
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COMMENTS |
He confirmed the name of the company, the address of the headquarters
and location, the date of creation of the company and the number of
employees. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.08 |
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1 |
INR 89.85 |
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Euro |
1 |
INR 80.16 |
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CAD |
1 |
INR 50.75 |
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 : |
KET |
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
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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.