MIRA INFORM REPORT

Report Date :

28.03.2011

IDENTIFICATION DETAILS

Name :	HEAT TRNSFERNEW ZEALAND LTD

Registered Office :	Abacus Administration Limited, 53-61 Whitaker Street, Te Aroha 2971

Country :	New Zealand

Date of Incorporation :	29.07.2003

Legal Form :	Limited Company

Line of Business :	supply of a full range of heat transfer products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Status :	Moderate

Payment Behaviour :	Unknown

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 – December 31, 2010

Country Name

Previous Rating

(30.09.2010)

Current Rating

(31.12.2010)

New Zealand

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME

HEAT TRNSFERNEW ZEALAND LTD

CN: 1348841

CORPORATE SEARCH

Entity Type:	NZ Limited Company
Incorporated:	29 Jul 2003
Current Status:	Registered
Constitution Filed:	No
Annual Return Filing Month:	November

Company Addresses

Registered Office

Abacus Administration Limited, 53-61 Whitaker Street, Te Aroha 2971

Address for Service

Abacus Administration Limited, 53-61 Whitaker Street, Te Aroha 2971

Directors

SNODGRASS, Alexander John

102 Awatere Avenue, Hamilton, 3200

SNODGRASS, Susanne Catherine

102 Awatere Avenue, Hamilton, 3200

Shareholdings

Total Number of Shares:	100
Extensive Shareholdings:	No

98	SNODGRASS, Alexander John 102 Awatere Avenue, Hamilton
	SNODGRASS, Susanne Catherine 102 Awatere Avenue, Hamilton
	WRIGHT, Margaret 1045 Manawahe Road, Rd 4, Whakatane 3194
1	SNODGRASS, Susanne Catherine 102 Awatere Avenue, Hamilton
1	SNODGRASS, Alexander John 102 Awatere Avenue, Hamilton

BUSINESS STRUCTURE

TRADING ADDRESS PO Box 10 404

Te Rapa, Auckland, NZ

TELEPHONE (647) 850 1644

BANK Not determined

EMPLOYEES Not determined

BACKGROUND

The subject was incorporated in New Zealand on 29 July 2003 under the current style.

OPERATIONS

The subject operates in the supply of a full range of heat transfer products, including plate heat exchangers, brazed heat exchangers, corrugated tubular heat exchangers, and plate and shell heat exchangers.

The subject also supply the Aquacool and Evapco range of cooling towers, evaporative condensers and fluid coolers.

Activities are conducted from premises located at the above listed trading address.

FINANCES

The subject is not required to lodge financial statements with the New Zealand Companies Office.

During the current interview conducted with Director Sue Snodgrass she declined to confirm or provide any details pertaining to the subject for the current enquiry.

As a result, details pertaining to the subjects operating, trading and financial position were unable to be obtained for the current enquiry.

TRADE SURVEY

Details pertaining to the subjects suppliers were not provided for the current enquiry.

A trade survey on the subject was subsequently unable to be conducted.

SUMMARY

The subject was incorporated in New Zealand on 29 July 2003 under the current style.

Details pertaining to the subjects operating, trading and financial position were unable to be obtained for the current enquiry.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.65
UK Pound	1	Rs.71.91
Euro	1	Rs.63.28

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

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.