MIRA INFORM REPORT

 

 

 

Report Date :

05.07.2008

 

IDENTIFICATION DETAILS

 

Name :

WTN ENTERPRISES

 

 

Registered Office :

415, Raja  Garden  Leather Complex  Road, Jalandhar-144 002,  Punjab

 

 

Country :

India

 

 

Financials (as on) :

31.3.2008

 

 

Year of establishment:

2005

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

JLDW00133A

 

 

PAN No.:

[Permanent Account No.]

AAAFW7157J

 

 

Legal Form :

Partnership concern with an unlimited liability of the partners.

 

 

Line of Business :

Manufacturers and Exporters of Automobile Fuel Server, CNG Savers and Electricity Power Savers.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 3000

 

 

Status :

Small Concern

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small concern. It is not much known in its field. Trade relations are fair.

 

Payments are usually correct and as per commitments.

 

The concern can be considered for small to mediocre business dealings at usual trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Jaspal Singh

Designation :

Partner

Contact No.:

91-9814412555

Date :

26.06.2008

 

 

LOCATIONS

 

Registered Office/factory :

415, Raja  Garden  Leather Complex  Road, Jalandhar-144 002,  Punjab, India

Tel. No.:

91-181-2252555

Mobile No.:

91-9814412555

Fax No.:

91-181-2233188

E-Mail :

jaspal@wtnenterprises.com

info@wtnenterprises.com

parminder@wtnenterprises.com

Area :

250 Sq.fts

Location :

Owned

 

PARTNERS

 

Name :

Mr. Jaspal Singh

Designation :

partner

Age :

45 years

Qualification :

Graduate

 

 

Name :

Mrs. Gurdeep Gaur

Designation :

Partner

Age :

42 years

Qualification :

Post graduate

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers And Exporters Of Automobile Fuel Server, CNG Savers And Electricity Power Savers

 

 

Products :
  • Automobile Fuel Savers
  • LPG/CNG Gas Savers
  • Electricity Power Savers
  • Electronics Ballast (Power Saver Choke For Tube Lights)
  • Water Softener

 

 

Exports :

 

Products :

Energy Saver Products

Countries :

Pakistan, South Africa, USA

 

 

Imports :

 

Products :

Energy Saver Products

Countries :

China, Korea

 

 

Terms :

 

Selling :

Cash

 

 

Purchasing :

Credit, Depend Upon Customer

 

GENERAL INFORMATION

 

Customers :

Wholesalers, Retailers

 

 

No. of Employees :

2

 

 

Bankers :

IDBI Bank, Jalandhar-144 002, Punjab, India

 

 

Facilities :

The concern does not enjoy facilities from its banker

 

 

 

Banking Relations :

------

 

 

Auditors :

 

Name :

Mr.Kripal Singh

(Chartered Accountant)

Address :

Jalandhar-144 002, Punjab, India

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs. 0.500 million

Borrowed :

-------

Total :

Rs. 0.500 million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

(approximately)

Sales Turnover

 

 

2.600

 

Expected Sales (2008-09): Rs.3.000 millions (approximately)

 

 

 

 

 

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

TRUSTSEAL ACCEPTANCE CHART:-

 

 

PARAMETER

 

DETAIL

Name

WTN Enterprises

 

 

Statutory Approvals

 

Vat/ Tin Registration

0334201678

Import Export Code

3005014002

Name Of The Bank

IDBI BANK

 

 

Credibility Factors

 

Indiamart Client Since

3 YEARS

Year Of Establishment

2005

 

 

TRADE REFERENCES:-

 

 

WEBSITES DETAILS:-

 

Concern Profile:-


The manufacturers and exporters of a wide range of automobile fuel saver, CNG gas savers and electricity power savers.

 

In this industry, they have earned goodwill and reputation of our clients for offering them the products, which meet the exact requirements of their clients as per their specifications.



With their range of products, they have set benchmarks of performance and ensure that these are widely accepted in the market because of their consistency, reliability and performance. Besides their range of products, they are also known for reliable services for delivery and packaging.

 

Range of Products:-

 

They offer a wide range of products, which finds its application in automotive and power industries. Made using latest technology, their range exhibits the following salient features such as-

 

• Enhances fuel efficiency

 
• Ensures engine safety

 
• Extends the life of the engines.

 
• Ensures optimum performance of vehicle

 
• Suitable for all vehicles


• Longer services life

 
• Maximum load bearing capacity

 
• Maintenance free Application Areas

 
• Houses

 
• Apartments

 
• Shop lots

 
• Restaurants

 
• Offices

 
• Small factories

 

Infrastructure and R&D:-

They have a profound infrastructure, which is equipped with state -of-the-art manufacturing facilities and incorporates cutting edge technologies in the development of their range of fuel and power saving devices. They use latest German Technology in the manufacture of their range of power and electricity saving devices, which has been quality approved by China. Besides incorporating latest technology in their production methodologies, they also make sure that they make consistent efforts towards the development of their range.

Their organization lies due emphasis on the R&D wing by investing considerable amount of resources as well as time. Their R&D wing manned by efficient personnel are always on the look for finding out newer production technology, which can reduce the manufacturing cost while offering the best quality products to their clients at competitive rates.

 

 

Quality Assurance:-

Being a quality centric organization, they leave no stone unturned towards ensuring the quality in their range of fuel and power saving devices. Their quality control lab is manned by quality controllers, who are round the clock on duty to make sure that the range stands high on quality front. Some of the varied parameters, which is consistently watched on the quality front are-



• Electrical performance


• Electrical efficiency


• Atmospheric emission


• CHP performance

 

Logistics:-

They are associated with reliable and certified C&F agents, who make sure safe and timely deliveries for their range of products at the final destination. They also keep a track on the consignment and make sure that the right consignment reaches at the right destination.

 

 

                                     CMT REPORT (Corruption, Money Laundering & Terrorism)

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration:

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration:

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime:

            Charges or conviction registered against subject:                                                  None

 

5]         Records on Violation of Anti-Corruption Laws:

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards:

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government:

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package:

Their market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report:

            No press reports / filings exist on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Their Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.43.21

UK Pound

1

Rs.85.72

Euro

1

Rs.67.92

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

3

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

----

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

               NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

              NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

27

 

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%)

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

56-70

A

Financial & operational base are regarded healthy. General unfavorable factors will not cause fatal effect. Satisfactory capability for payment of interest and principal sums

 

Fairly Large

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavorable & favorable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

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