MIRA
INFORM REPORT
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Report Date : |
31.08.2007 |
IDENTIFICATION DETAILS
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Name : |
VIRGO ENGINEERS
INC. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
21/09/1998 |
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Legal Form : |
Corporation –
Private |
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Line of Business : |
Manufacturer of
Ball Valves for Energy and Process Industrial markets. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Exist |
IDENTIFICATION &
EXECUTIVE SUMMARY
Company Name: VIRGO
ENGINEERS INC.
Address:
City:
State/Province:
Zip Code: 77477
Country: UNITED
STATES
Telephone: 281-491-0400
Facsimile: 281-491-0444
As of:
Sales / Revenue:
Net Income:
Total Equity:
Number of Employees:
6
Legal Form: Corporation
- Private
Website: www.virgoengineers.com
Business Activity: The Subject is a manufacturer of Ball
Valves for Energy and Process Industrial markets.
NOTE TO CLIENT
Several messages
were left for the Accounting Manager, Ms. Ann Nichols; we were unable to reach
a member of Management who could provide general information regarding the
Company. Thus, general information in this report cannot be substantiated.
Please note that we did send a written request to her attention via facsimile.
An update will be provided accordingly should we receive a response at a later
time.
LEGAL
Legal Form: Corporation -
Private
Since (D/M/Y): 21/09/1998
State/Province of
Incorporation: DE
Status: ACTIVE
Previous Legal Form:
Company is NOT
required to publish an annual financial report.
The Subject is
incorporated in the state of
File Number: 2946264
Incorp Date / Form
Date: 09/21/1998
Entity Name: VIRGO
ENGINEERS INC.
Entity Kind:
CORPORATION
Entity Type: GENERAL
Residency:
State: DE
REGISTERED AGENT INFORMATION
Name: THE
CORPORATION TRUST COMPANY
Address: CORPORATION
TRUST CENTER
City:
County: NEW CASTLE
State: DE
Postal Code: 19801
Phone: (302)658-7581
--
The Subject is
qualified in the state of
VIRGO ENGINEERS INC
Status: IN GOOD
STANDING NOT FOR DISSOLUTION OR WITHDRAWAL through May 15, 2008
Registered Agent: C
T CORPORATION SYSTEM
Registered Agent
Resignation Date:
State of
File Number: 0012413706
Charter/COA Date:
November 23, 1998
Charter/COA Type:
COA
Taxpayer Number:
17605874951
Managers/Key
Personnel
Mr. Mahesh
Desai President & CEO
Mr. V.
Balasubramanian Director
Mr. Jagdish
Desai Director
Mr. V.R.
Jayaraman Director
AFFILIATED ENTITIES
The following
companies are affiliated with the Subject:
Virgo Engineers
Limited
Virgo Valves And
Controls Limited
277, Hinjewadi Phase
II,
Maan (Mulshi),
Pune - 411 057,
Virgo
Via
Milano (
Phone: +39 0362
589711
Fax: +39 0362 554439
Website :
www.virgoeurope.com
Virgo Valves
& Controls (
45,
Hertford,
Phone: +44 7796
147142
Fax: +44 1920 413304
Virgo Valves
& Controls Limited
Unit - FZS1 AH07,
Jebel Ali Free Zone,
P.O Box - 18748,
Phone -
+971-4-8860980
Fax - +971-4-8860981
Virgo Valves
& Controls Limited
Kenanga
International,
Jalan Sultan Ismail,
50250
There are no known
subsidiaries.
BANKS
TX
Telephone:
Facsimile:
Account Number:
Account Manager:
We were unable to
obtain any banking information.
PAYMENT HISTORY
BUSINESS
DATE LAST
PAYMENT CREDIT BALANCE CUR 1-
31- 61-
CATEGORY
REPTD
---------- ----- ----- ------- --------
-------- --- --- --- --- --- --------
ADVERTISNG 07-08 00-00 NET 30 0
0 0 0
0 0 0
CUST 4 YR
FACTOR
07-08 07-01 NET 30 600 0
0 0 0
0 0
TELECOM
07-08 00-00 NET 30 100 100
100 0 0 0 0
TRANSPORTN 07-06 00-00 NET 30 0
0 0 0
0 0 0
PROMPT
AIR TRANS
05-04 05-03 9700 0
0 0 0
0 0
AIR TRANS
06-11 00-00 NET 30 0 0
0 0 0
0 0 CUST
3 YR
AUTOMOTIVE 06-08 00-00 VARIED 40200
0 0 0
0 0 0
CUST 2 YR
FRGHT FWRD 05-11 00-00 NET 30 100
100 100 0 0
0 0
FRGHT FWRD 05-03 05-02 NET 15 2000
2000 43 57
0 0 0
SATSFTRY
PACKAGING
04-09 00-00 NET 30 0 0
0 0 0
0 0 CUST
4 YR
TEMP HELP
05-06 05-06 NET 30 2300 2000
100 0 0 0 0
TEMP HELP
06-08 00-00 NET 7 600 0
0 0 0
0 0
CURRENT QUARTER 1100 300
100 0 0 0 0
Payment Trends
INDUSTRY
BUSINESS BALANCE CUR 1-
31- 61-
DATE
CUR DBT DBT $ %
30 60 90 91+
--------
--- --- --- -------- --- --- --- --- ---
20070800
0 6 0 300 100 0
0 0 0
20070700
0 6 0 300 100 0
0 0 0
20070600
0 6 0 300 100 0
0 0 0
20070500
0 5 14 700 5
95 0 0 0
20070400
0 9 0 700 100 0
0 0 0
20070300
0 10 0 700 100 0
0 0 0
Payment History - Quarterly Averages
BALANCE CUR 1- 31- 61-
QUARTER
YEAR DBT $ %
30 60 90 91+
-------- ------ --- -------- --- --- --- --- ---
Second
2007 9 400 43
57 0 0 0
First
2007 0 500 100 0
0 0 0
Fourth
2006 0 100 100 0
0 0 0
Third
2006 0 200 100 0
0 0 0
Second
2006 0 200 100 0
0 0 0
FINANCIAL INFORMATION
The Company was
forwarded a fax requesting financial information. Currently we have not
received a response.
Other outside
sources consulted could not provide any further insight into the financial
condition of this firm.
CURRENT OPERATIONS
NAICS Code: 332911
Industrial Valve Manufacturing
SIC Code: 3491
Number of Employees
: 6
Business Activity:
The Subject is a
manufacturer of Ball Valves for Energy and Process Industrial markets.
As far can be
determined the heading address is the sole location for the Company.
PUBLIC RECORD
A search of bankruptcy
courts revealed no record of the Subject filing for bankruptcy.
The following civil
judgment and UCC filing were found:
Name Searched: VIRGO
ENGINEERS INC.
Defendant Counsel:
Kalapatapu, Sesha [COR LD NTC]
Boyar & Miller
4265 San Felipe Suite
1200
713/ 850-7766 Fax:
713/ 552-1758 Email: Skalapatapu@boyarmiller.com
Defendant: Virgo
Engineers, Inc
Stafford Controls
Limited
Del-Tech, LLC
Filing Date:
3/6/2007
Filing Type: Civil
Plaintiff Counsel:
Anderson, David Kent [COR LD NTC]
Anderson & Cunningham PC
1001 Fannin Street
713/ 655-8400 Fax:
713/ 650-8745 Email: David@andersonlawfirm.com
Plaintiff: Trutorq,
Ltd
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Name: VIRGO
ENGINEERS INC
Telephone: (281)
491-0400
Secured Party: ICICI
BANK LIMITED [Business]
A-WING,
N/A N/A N/A N/A
[Business]
A-WING,
Status: ACTIVE AS OF
3/6/2003
Type: UCC STANDARD
GENERAL COMMENTS
The Subject is a
manufacturer of Ball Valves for Energy and Process Industrial markets since
1998. The Company has a satisfactory payment record. A search of bankruptcy
courts revealed no record of the Subject filing for bankruptcy. However, one
civil judgment was found against the Company, but at this time, the current
status could not be determined.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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 and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)