MIRA INFORM REPORT

 

 

Report Date :

13.01.2011

 

 

IDENTIFICATION DETAILS

 

Name :

IMW INDUSTRIES ( CLEAN ENERGY COMPANY)

 

 

Registered Office :

43676 Progress Way Chilliwack BC, V2R 0C3

 

 

Country :

Canada

 

 

Year of Establishment :

1912

 

 

Legal Form :

Corporation for Profit

 

 

Line of Business :

Supplier of Compressed Natural Gas

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 500,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Canada 

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS – CANADA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Federal


Economic Risk: Nil

Currency: USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

Clean Energy Compression Corp

Address in the order:

DBA I.M.W. Industries 43676 Progress Way, Chilliwack BC V2R OC3

 

Comments on data supplied:

Dear client,

The company's correct Legal Name is IMW Industries and the company's Trade name is Clean Energy Company.

Indeed, IMW Industries is a subsidiary of Clean Energy Compression Corp headquartered in California.

 

Legal Name:

IMW Industries ( Clean Energy Company)

Trade Name:

Clean Energy Company

Legal Address

43676 Progress Way Chilliwack BC, V2R 0C3 Canada

Telephone:

+1 (604)-795-94 91

Document Number :

NA

Fax:

+1 (604)-792-38 06

Legal Form:

Corporation for Profit

Email:

Na

Registered in:

British Columbia

Website:

www.imw.ca

Date Created:

1912

Manager:

Brad Miller, President

Date Incorporated:

1913

Staff:

250 employees

Stock:

NA

 

 

Value:

NA

Activity:

Supplier of Compressed Natural Gas

 

 

BANKS

 

Name of the Bank

HSBC (CANADA)

 

BUSINESS

 

HISTORY

 

IMW Industries is a private company created in 1912 and based in British Columbia.

PRINCIPAL ACTIVITY

 

IMW Industries is working as a supplier of Compressed Natural Gas (CNG).

Products/Services description:

 

IMW designs and manufactures compressors for natural gas.

They manufacture a wide range of gas dispensing systems and provide a full array of gas control systems.

Sales are:

 

Wholesale

Clients:

 

Vehicle manufacturers, natural gas companies, vehicle fleet operators, private fuelling station owners, and CNG fuel providers.

Operations area:

 

National, International

The company imports from India

The company export to Europe and Asia

Trade References:

 

Despite our searches we were not able to find any company's trade references.

The subject employs 250 employee(s)

PAYMENTS

 

made on a 55 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The company is heaqaurtered at 43676 Progress Way

Chilliwack BC, V2R 0C3, Canada

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The company is working as subsidiary of Clean Energy Compressor Corp, located in Los Angeles, California

Management:

 

Brad Miller, President

John Freeman, Accounting Manager

 

 

Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data (estimates):

Currency

DATE

 

 

CAD

2010

 

 

Turnover

45,000,000

 

 

The cash flow is

Normal

 

 

 

 

 

 

 

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.

 

 

 Rating

 

Local credit bureau gave a correct credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 Final Opinion

 

This is a medium size company with several years in the business.

 

The company's profitability is correct and the length of payment remains regular.

 

It's also important to notice that the company's turnover can be considered fair for the company's size.

 

The business inspires confidence.

 

At this time, we believe that the company can handle a credit line in the range of 500,000 USD.

 

A business connection can be considered.

 

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

CORRECT

Public

NO

 

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

 

Cash

NORMAL

 

 

 

 




 

APPENDIX

 

Person Interviewed

 

John Freeman

Position

 

Account Manager

Comments

 

He was able to confirm us the information in the report.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.16

UK Pound

1

Rs.70.64

Euro

1

Rs.58.68

 

 

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 unfavourable 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

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

--

NB

                                       New Business

 

--

 

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%)

 

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.