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MIRA INFORM REPORT
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Report No. : |
512298 |
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Report Date : |
31.05.2018 |
IDENTIFICATION DETAILS
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Name : |
SUNCO FOODS INC |
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Registered Office : |
1200 W 73RD AV, Vancouver, British Columbia BC, V6P 6G5 |
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Country : |
Canada |
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Financials (as on) : |
2016 (Summarized) |
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Year of Establishment : |
2009 |
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Legal Form : |
Corporation |
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Line of Business : |
Importer & Distributor of Wholesale Organic & Natural
Ingredients for the Natural Foods Marketplace. |
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No. of Employees : |
50 |
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: |
Sunco Foods Inc |
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Trade Names: |
Sunco Foods Inc |
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ID: |
BC88413635 |
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Date Created: |
2009 |
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Date Incorporated: |
2009 |
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Legal Address: |
1200 W 73RD AV Vancouver British Columbia BC V6P 6G5 |
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Operative Address: |
9208 NORTH FRASER CRESCENT BURNABY BC V5J 0E3 Canada |
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Telephone: |
1.604.451.9208 1.888.743.6320 |
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Fax: |
- |
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Legal Form: |
CORPORATION |
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Email: |
info@suncofoods.com |
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Registered in: |
CANADA |
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Website: |
www.suncofoods.com |
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Contact: |
Samir Virani - President & Board Member |
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Staff: |
50 |
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Activity: |
NAICS Code 424490 Other Grocery and Related Products Merchant
Wholesalers |
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Banks
The company does not disclose its banking details. |
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History
The company was founded in 2009. |
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PRINCIPAL
ACTIVITY
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Sunco Foods Inc. is an Importer & Distributor of Wholesale Organic
& Natural Ingredients for the Natural Foods Marketplace. |
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Products/Services description: |
The company offers certified Organic Coconuts, Raisins, Tree Nuts,
Dried Fruits, Bean, Peas, Lentils, Seeds and Grains. It also provides Natural
Coconuts, Raisins, Tree Nuts, Dried Fruits and Seeds. |
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Brands: |
SUNCO FOODS |
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Sales are: |
Wholesale |
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Clients: |
Retailers |
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Suppliers: |
Goiasa Goiatuba Alcool Ltda Olam Nigeria Limited Inner Mongolia Hengxin Foodstuff Holding Co., Ltd. Jilin Jiaren Peanut Foodstuff Coco Davao Inc. Primex Coco Products Inc. |
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Operations area: |
National |
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The company imports from |
BRAZIL NIGERIA CHINA PHILLIPPINES |
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The company exports to |
No export records found. |
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The subject employs |
50 employees |
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Payments: |
Regular |
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LOCATION
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Headquarters : |
9208 NORTH FRASER CRESCENT BURNABY BC V5J 0E3 Canada |
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Comments on 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. We were not
able to confirm major holders. |
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Management: |
Samir Virani - President & Board Member Nizar Virani - Board Member |
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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 |
5.750.000 |
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Cash flow |
Normal |
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LEGAL
FILINGS
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CASES |
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
Founded in 2009, Sunco Foods Inc. is an organization in the Other Grocery
and Related Products Merchant Wholesalers Industry headquartered in Burnaby,
British Columbia, Canada. The company has 50 regular employees and generates an estimated $5.7
million USD in annual revenue. It operates nationally, mainly importing from Brazil, Nigeria, China
and the Philippines. It is ACTIVE in
business with no negative records. |
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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 |
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INTERVIEW
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NAME |
Christina |
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POSITION |
Sales |
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COMMENTS |
She confirmed the name of the company, the address of the headquarters
and location, the date of creation of the company, the number of employees
and the name of the President. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 67.63 |
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1 |
INR 89.70 |
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Euro |
1 |
INR 78.20 |
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CAD |
1 |
INR 52.39 |
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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DIV |
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Report Prepared
by : |
NIT |
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
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.