MIRA INFORM REPORT

Report No. :	510405.2
Report Date :	24.05.2018

IDENTIFICATION DETAILS

Name :	CANTEX DISTRIBUTION INC
Registered Office :	4616 Victoria Ave, Niagara Falls, ON, L2E 4B7 Canada
Country :	Canada
Financials (as on) :	2016 (Summarized)
Date of Incorporation :	1992
Legal Form :	Corporation
Line of Business :	Subject is Engaged In To The Wholesale Of Textiles.
No. of Employees :	5

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	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 (30.09.2017)	Current Rating (31.12.2017)
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:	CANTEX DISTRIBUTION INC
Trade Names:	CANTEX DISTRIBUTION INC
ID:	001032421
Date Created:	1992
Date Incorporated:	1993-07-30
Legal Address:	4616 Victoria Ave Niagara Falls, ON, L2E 4B7 Canada
Operative Address:	4616 Victoria Ave Niagara Falls, ON, L2E 4B7 Canada
Telephone:	905-356-6940
Fax:	905-374-8231
Legal Form:	CORPORATION
Email:	sales@cantexdistribution.com
Registered in:	CANADA
Website:	www.cantexdistribution.com
Contact:	Navid Qureshi - President & Board Member
Staff:	5
Activity:	SIC Code 5023, Home Furnishings
Banks:	The company does not disclose its banking details.
History:	The company was founded in 1992.
PRINCIPAL ACTIVITY
	Cantex Distribution Inc. is dedicated to the wholesale of Textiles.
Products/Services description:	The company offers Bath Linen, Bedding, Drapery, Kitchen Linens, Laundry & Mesh Bags, Table Linens and Uniform Apparel.
Brands:	The company does not have any brands of its own.
Sales are:	Wholesale
Clients:	Retailers
Suppliers:	Hangzhou Gold Coast Down Products Co Ltd Shanghai Chao Sheng Central Air Tianjin Lisber International Co., Ltd. Ningbo Aokal Garden Tools Co., Ltd. Imtiaz Garments Shaheen Textile
Operations area:	National
The company imports from	CHINA PAKISTAN
The subject employs	5 employees
Payments:	Regular
LOCATION
Headquarters :	4616 Victoria Ave Niagara Falls, ON, L2E 4B7 Canada
Comments on Address:	-
Branches:	No other branches were found.
Related Companies:	No related companies were found.
GROUP STRUCTURE AND SUBSIDIARY COMPANIES
Listed at the stock exchange:	NO
Capital:	NA
Shareholders:	The company does not disclose information on shareholders. We were not able to confirm major holders.
Management:	Navid Qureshi - President & Board Member Bushra Sualeh - Secretary & Board Member
FINANCIAL INFORMATION
	The company does not make its financial statements public. The following information has been provided by private sources:
USD 2016
Revenue	540.000
Cash flow	Normal
LEGAL FILINGS
CASES	No records found.
OFAC Sanctions List Search	The company is not listed in the OFAC list.
SUMMARY
	Founded in 1992, Cantex Distribution Inc. is an organization in the Home Furnishings Industry headquartered in Ontario, Canada. The company has 5 regular employees and generates an estimated $540.000 USD in annual revenue. It operates nationally, mainly importing form China and Pakistan. It is ACTIVE in business with no negative records.
RISK INFORMATION
DEBTS	Controlled
PAYMENTS	Regular
CASH FLOW	Normal
STATUS	Active
INTERVIEW
NAME	-
POSITION	-
COMMENTS	We called number 905-356-6940 several times and received no answer.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.21
UK Pound	1	INR 91.43
Euro	1	INR 80.24
CAD	1	INR 68.36

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

INFORMATION DETAILS

Analysis Done by :	VAR
Report Prepared by :	KET

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.