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MIRA INFORM REPORT
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Report No. : |
507595 |
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Report Date : |
05.05.2018 |
IDENTIFICATION DETAILS
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Name : |
O.K. TIRE STORES INC. |
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Registered Office : |
19082 21st Avenue Surrey, BC V3S 3M3 |
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Country : |
Canada |
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Financials (as on) : |
2016 (Summarized) |
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Date of Incorporation : |
1953 |
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Legal Form : |
Corporation |
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Line of Business : |
Subject is owns and operates a chain of tires stores. |
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No. of Employees : |
125 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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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Legal Name: |
O.K. TIRE STORES INC. |
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Trade Names: |
OK TIRE STORES INC |
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ID: |
BC0192941 |
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Date Created: |
1953 |
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Date Incorporated: |
September 30, 1979 |
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Legal Address: |
19082 21st Avenue Surrey, BC V3S 3M3 Canada |
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Operative Address: |
19082 21st Avenue Surrey, BC V3S 3M3 Canada |
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Telephone: |
604 542-7999 |
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Fax: |
604 542-7990 |
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Legal Form: |
CORPORATION |
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Email: |
info@oktire.com |
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Registered in: |
CANADA |
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Website: |
www.oktire.com |
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Contact: |
Mr. Greg Sims - Chief Executive Officer and
President |
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Staff: |
125 |
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Activity: |
SIC Code 5014, Tires and Tubes NAICS Code 423130, Tire and Tube Merchant Wholesalers |
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Banks: |
The company does not disclose its banking details. |
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History: |
O.K. Tire Stores Inc. was founded in 1953 and is
headquartered in Surrey, Canada. |
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PRINCIPAL
ACTIVITY
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O.K. Tire Stores Inc. owns and operates a chain of
tires stores in Canada. |
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Products/Services description: |
It sells and services agriculture and commercial
tires that include tires for various kinds of farming applications, including
trucks, tractors, and combines. The company also offers truck tires for
freight trucks, passenger busses, and everything in between. In addition, the
company provides commercial truck and tractor mechanical services, such as
alignments, lubrication, and preventative maintenance services; fleet
inspection and reporting services; rims, hold down parts, and chains;
nitrogen filling services; and emergency road services. |
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Brands: |
BLACKLION BRIDGESTONE CONTINENTAL FIRESTONE GENERAL TIRE KUMHO TIRE PIRELLI TOYO TIRES |
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Sales are: |
Retail |
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Clients: |
Private Customers |
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Suppliers: |
Balkrishna Industries |
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Operations area: |
National |
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The company imports from |
INDIA |
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The subject employs |
125 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
19082 21st Avenue Surrey, BC V3S 3M3 Canada |
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Comments on Address: |
- |
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Branches: |
OK Tire Airdrie 525 - 1st
Avenue NE, Airdrie, AB, T4B 1R9, Canada OK Tire Barrhead 4808 - 53rd
Avenue, Barrhead, AB, T7N 1A1, Canada OK Tire Bashaw 4920 - 50th
Avenue, Bashaw, AB, T0B 0H0, Canada OK Tire Ajax Commercial 110 Dowty
Road, Ajax, ON, L1S 2G4, Canada OK Tire Alexandria 3550 County
Road 34, RR 2, Alexandria, ON, K0C 1A0, Canada OK Tire Commercial Alfred 5205 Hwy 17,
Alfred, ON, K0B 1A0, Canada |
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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. We were not able to confirm major holders. |
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Management: |
Mr. Greg Sims - Chief Executive Officer and
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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Sales |
34.000.000 |
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Cash flow |
Normal |
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LEGAL FILINGS |
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PATENTS |
No found. |
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GOVERNMENT CONTRACTS |
No records found. |
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CASES |
O.K. Tire Stores Inc. v. Auto Magic Businesses Ltd.,
2012 BCSC 1689 (CanLII) — 2012-11-14 Supreme Court of British Columbia —
Colombie-Britannique O.K. Tire Stores Inc. v. Mclaughlin, 2008 CanLII
6196 (ON SC) — 2008-02-20 Cour supérieure de justice — Ontario Milk and Bread Drivers, Dairy Employees, Caterers
and Allied Employees (International Brotherhood of Teamsters, Local 647) v.
OK Tire Stores Inc., 2013 CanLII 9552 (ON LRB) — 2013-02-22 Commission des relations de travail de l'Ontario —
Ontario |
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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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Founded in 1953, OK Tire Stores Inc. is an
organization in the Tire and Tube Merchant Wholesalers Industry headquartered
in Surrey, BC, Canada. The company has 125 regular employees and generates
an estimated $34 million USD in annual revenue. The company operates nationally, mainly importing
from India. It is ACTIVE in business with no negative records. |
RISK
INFORMATION
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DEBTS |
Controlled |
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PAYMENTS |
Regular |
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CASH FLOW |
Normal |
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STATUS |
Active |
INTERVIEW
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NAME |
Alex |
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POSITION |
- |
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COMMENTS |
He confirmed the name of the company, the address of
the headquarters and location and the date of creation of the company. He was
reluctant to provide further information. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.76 |
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1 |
INR 90.58 |
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Euro |
1 |
INR 79.96 |
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CAD |
1 |
INR 51.96 |
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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VIV |
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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.