MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
WOTEK CORPORATION |
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Registered Office : |
255 Old New Brunswick Rd,
Piscataway, NJ 08854-3734 |
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Country : |
United States |
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Date of Incorporation : |
September 1982 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Supplier of Industrial,
Commercial and Home Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 600,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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Maximum |
600,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD 100 = EUR 64.5 Correct |
IDENTIFICATION
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Company Name: |
WOTEK CORPORATION |
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Address: |
255 Old New Brunswick Rd, Piscataway, NJ 08854-3734, United States |
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Phone: Facsimile: ID: State: Managers: |
(732) 465-0060 |
Date founded: |
September 1982 Corporation for profit NA 80 employees |
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Legal form: |
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Stock: Staff: |
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Business: |
Supplier of industrial,
commercial and home products. |
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BANKS
- JP MORGAN CHASE BANK
- BANK OF AMERICA
BUSINESS
Operations:
At the above address, we find
the offices of the company WOTEK CORPORATION.
The company also has
offices in Dubai, Saudi Arabia, and India.
Activity:
WOTEK CORPORATION is a
specializing in the supply and distribution of industrial, commercial and home
products worldwilde.
It's major exports are
engineering equipment, spares and accessories to five star hotels, air filters
for HVAC and machinery intake, refrigeration, air-conditioning accessories,
compressors, Honeywell comfort controls, chemicals and components for TV
picture tube industry.
The company exports to the
Middle East, Far East and the Indian sub-continent through its own offices. In
many countries Wotek sells through it's own agents and distributors. Many large
customers use Wotek as their buying agent in U.S.A..
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the
company are:
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Naresh Verma, Chairman and
CEO,
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Arun Mehra, President and
CFO,
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Vinod Krishnan, Vice
President.
They are also the main
shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
WOTEK CORPORATION does not publish its financials.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
19,566,017 |
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Operating profit |
1,400,000 |
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Net income |
1,100,000 |
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Net worth |
3,000,000 |
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Liabilities |
400,000 |
No legal filing listed with
the District Court
RATING
Local credit bureau gave a
satisfying credit rate.
The Company is in “good
standing”.
This means only that all local
and federal taxes were paid on due date.
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The cash flow is good.
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Payments are made on a 42 days basis
(regular).
Our final opinion:
This is a medium size
business working worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Satisfying Controlled Good |
PUBLIC PAYMENTS |
No Regular |
ADVISED
CREDIT
600,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)