MIRA INFORM REPORT

Report Date :

27.09.2011

IDENTIFICATION DETAILS

Name :	WEYENBERG RESOURCES (INDIA) PRIVATE LIMITED
Registered Office :	3, Satyam, 318, Linking Road, Khar (West), Mumbai-400052, Maharashtra
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	12.07.2006
Com. Reg. No.:	11-163066
Capital Investment / Paid-up Capital :	Rs.0.100 Millions
CIN No.: [Company Identification No.]	U51505MH2006PTC163066
TAN No.: [Tax Deduction & Collection Account No.]	MUMW03116B
PAN No.: [Permanent Account No.]	AAACW6470F
Legal Form :	Private Limited Liability Company
Line of Business :	Trader, Dealer and Distributor of material handling machinery parts and components
No. of Employees :	6 (Approximately) (In Office)

RATING & COMMENTS

MIRA’s Rating :

Ba (44)

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 1500
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. The company is progressing well. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions.

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

INFORMATION PARTED BY

Name :	Ms. Pooja Gandhi
Designation :	Director
Contact No.:	91-9820041678
Date :	24.09.2011

LOCATIONS

Registered Office :	3, Satyam, 318, Linking Road, Khar (West), Mumbai-400052, Maharashtra, India
Tel. No.:	91-22-26486194/ 26486220
Mobile No.:	91-9820041678 (Ms. Pooja Gandhi)
Fax No.:	91-22-26484020
E-Mail :	pooja@weyenberg-group.com info_india@weyenberggroup.com
Website :	http://www.weyenberg-group.com
Area :	700 Sq. Ft.
Location :	Owned

DIRECTORS

As on 29.09.2010

Name :	Mr. Surendra Kumar Chawla
Designation :	Director
Address :	401, Maherdeep Apartments, Sarojini Road, Santacruz (West), Mumbai-400054, Maharashtra, India
Date of Birth/Age :	28.10.1947
Qualification:	Graduate
Date of Appointment :	12.07.2006
DIN No.:	01504985
Name :	Mrs. Pooja Gandhi
Designation :	Director
Address :	4, Madhusagar, N.S Road No.l 13, J. V P. D Scheme, Mumbai-400049, Maharashtra, India
Date of Birth/Age :	16.05.1978
Qualification:	Graduate
Date of Appointment :	12.07.2006
DIN No.:	01659811
Name :	Ms. Prerna Chawla
Designation :	Director
Address :	401, Maherdeep Apartments, Sarojini Road, Santacruz (West), Mumbai-400054, Maharashtra, India
Date of Birth/Age :	09.03.1983
Qualification:	Post Graduate
Date of Appointment :	12.07.2006
DIN No.:	01659763

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 29.09.2010

Names of Shareholders	No. of Preference Shares	No. of Equity Shares
Surendra Chawla	0	2600
Pooja Gandhi	0	1500
Prerna Chawla	0	1000
George Deden	0	500
Weyenberg International Holdings Limited, China	38885	4400
Total	38885	10000

Equity Share Break up (Percentage of Total Equity)

As on 30.09.2010

Category	Percentage
Foreign holdings( Foreign institutional investor(s), Foreign companie(s) Foreign financial institution(s), Non-resident Indian(s) or Overseas Corporate bodies or Others	44.00
Directors or relatives of Directors	56.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Trader, Dealer and Distributor of material handling machinery parts and components
Agencies Held :	Diepa Wires, Germany Prysmian Cables, Germany Brosa Loadcell, Germany Hartmann and Kanigg, Germany
Imports :
Products :	Material Handling Machinery Cranes
Countries :	Germany
Terms :
Selling :	Cash and Credit
Purchasing :	L/C and T.T.

GENERAL INFORMATION

Suppliers :	Diepa Wires, Germany Prysmian Cables, Germany Brosa Loadcell, Germany Hartmann and Kanigg, Germany
Customers :	End Users Nhava Sheva International Container Terminals Mundra Part, Mundra As on 31.03.2009 Crane End Users · Busan Port operators, Busan · Chiwan Container Terminals, Shekou · COSCO-HIT Terminals, Hong Kong · CSX World Terminals, Hong Kong · Dalian Container Terminal, Dalian · Dubai Port Authority (DPA), Dubai · Hongkong International Terminals (HIT), Hong Kong · Jakarta International Container Terminal (JICT), Jakarta · Jurong Port, Singapore · Laem Chabang Terminal operators, Laem Chabang · Manila North International Container Terminal (MICT), Manila · Modern Terminals Limited (MTL), Hong Kong · Port of Singapore Authority (PSA), Singapore · Port of Tanjung Pepepas (PTP), Johor Bahru · Qiangdao Qianwan Container Terminals, Qingdao · Shanghai Container Terminals (SCT), Shanghai · Shekou Container Terminals (SCT), Shekou · South Asia Container Terminal (SAGT), Colombo · Vietnam International Container Terminal (VICT), Saigon · Waigaojiao Container Terminal, Shanghai · Yantian International Container Treminals (YICT), Shenzhen Crane Manufacturers · Dalian Crane Works (DCW), Dalian · Doosan Heavy Industries, Busan · Favelle Favco Cranes, Shah Alam · Hyundai Heavy Industries (HHI), Ulsan, Korea · IMPSA Port Systems, Kuala Lumpur, Malaysia · Kalmar Malaysia, Port Klang · Keppel FELS, Singapore · Noell Crane Systems (NCS), Xiamen, China · Samsung Heavy Industries (SHI), Ulsan, Korea · Shanghai Port Machinery Plant (SPMP), Shanghai, China · Zhenhua Port Machinery Company (ZPMC), Shanghai, China
No. of Employees :	6 (Approximately) (In Office)
Bankers :	HSBC Bank, Andheri Branch, Mumbai, Maharashtra, India
Facilities :	--

Banking Relations :	--
Auditors :
Name :	Banshi Jain and Associates Chartered Accountant
Address :	404/405, Imperial Plaza, Dr. K B Hedgewsar Marg, Opposite Amarsons, Off Linking Road, Bandra (East), Mumbai-400050, Maharashtra, India
Tel. No.:	91-22-26511213/ 26511215
Fax No.:	91-22-26511197
E-Mail :	bjaa@rediffmail.com bhaacall@gmail.com
PAN.:	AABFB0619B
Parent Company ( As on 31.03.2009):	Weyenberg Technical Services, Singapore
Associates/Subsidiaries (As on 31.03.2009):	Weyenberg International FZE, Dubai (Coming soon)

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Shares	Rs. 10/- each	Rs. 0.500 Million
150000	0% Redeemable Cumulative Non Convertible Preference Shares	Rs. 10/- each	Rs. 1.500 Millions
	Total		Rs. 2.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Shares	Rs. 10/- each	Rs. 0.100 Million
38885	0% Redeemable Cumulative Non Convertible Preference Shares	Rs. 10/- each	Rs. 0.389 Million
	Total		Rs. 0.489 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		0.489	0.489	0.489
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(0.876)	(1.546)	(0.179)
NETWORTH		(0.387)	(1.057)	0.310
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.333
TOTAL BORROWING		0.000	0.000	0.333
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		(0.387)	(1.057)	0.643
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		1.148	0.171	0.047
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		29.240	6.201	0.000
DEFERREX TAX ASSETS		0.576	0.716	0.048
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.000	0.000	0.000
	Sundry Debtors	5.048	0.471	0.000
	Cash & Bank Balances	5.291	1.742	0.263
	Other Current Assets	0.015	0.015	0.258
	Loans & Advances	357.873	99.594	0.056
Total Current Assets		368.227	101.822	0.577
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	3.892	0.105	0.111
	Other Current Liabilities	395.640	109.916	0.047
	Provisions	0.091	0.036	0.006
Total Current Liabilities		399.623	110.057	0.164
Net Current Assets		(31.396)	(8.235)	0.413
MISCELLANEOUS EXPENSES		0.045	0.090	0.135
TOTAL		(0.387)	(1.057)	0.643

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	10.407	0.299	0.000
		Commission Income	1.776	1.107	0.900
		Dividend Income	0.497	0.250	0.000
		TOTAL (A)	12.680	1.656	0.900
Less	EXPENSES
		Purchases	6.728	0.230	0.000
		Loss from Future and Options Transactions	0.134	0.231	0.000
		Administrative Expenses	4.908	3.156	0.885
		Preliminary Expenses written off	0.045	0.045	0.045
		TOTAL (B)	11.815	3.662	0.930
	PROFIT BEFORE TAX (E-F) (G)		0.865	(2.006)	(0.030)
Less	TAX (I)		0.195	(0.639)	0.006
	PROFIT AFTER TAX (G-I) (J)		0.670	(1.367)	(0.036)
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		(1.546)	(0.179)	(0.143)
	BALANCE CARRIED TO THE B/S		(0.876)	(1.546)	[0.179)

Particulars	31.03.2011
Sales Turnover(Approximately)	440.000

Note : Sales Turnover increase in the financial year of 2010-2011 due to sell of Cranes.

The above information has been parted by Mr. Pooja Gandhi

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	6.44	(82.55)	(4.00)
Net Profit Margin (PBT/Sales)	(%)	8.31	(670.90)	(3.33)
Return on Total Assets (PBT/Total Assets}	(%)	0.23	[1.97]	[4.81]
Return on Investment (ROI) (PBT/Networth)		(2.23)	[1.90]	[0.010]
Debt Equity Ratio (Total Liability/Networth)		(1032.62)	[104.12]	1.60
Current Ratio (Current Asset/Current Liability)		0.92	0.93	3.52

LOCAL AGENCY FURTHER INFORMATION

SUNDRY CREDITORS

(Rs. In Millions)

PARTICULARS	31.03.2010	31.03.2009	31.03.2008
Sundry Creditors	3. 893	0.105	0.111
Total	3. 893	0.105	0.111

TRADE REFERENCES

• Nhava Sheva International Container Terminals
• Mundra Part, Mundra

Check List by Info Agents	Available in Report (Yes / No)
1) Year of Establishment	Yes
2) Locality of the firm	Yes
3) Constitutions of the firm	Yes
4) Premises details	Yes
5) Type of Business	Yes
6) Line of Business•	Yes
7) Promoter’s background	--
8) No. of employees	Yes
9) Name of person contacted	Yes
10) Designation of contact person	Yes
11) Turnover of firm for last three years	Yes
12) Profitability for last three years	Yes
13) Reasons for variation <> 20%	No
14) Estimation for coming financial year	Yes
15) Capital in the business	NA
16) Details of sister concerns	Yes
17) Major suppliers	Yes
18) Major customers	Yes
19) Payments terms	Yes
20) Export / Import details (if applicable)	Yes
21) Market information	--
22) Litigations that the firm / promoter	--
23) Banking Details	Yes
24) Banking facility details	Yes
25) Conduct of the banking account	--
26) Buyer visit details	--
27) Financials, if provided	Yes
28) Incorporation details, if applicable	--
29) Last accounts filed at ROC	--
30) Major Shareholders, if available	--

FIXED ASSETS (As on 31.03.2009)

· Computer (Laptop)

· Computer (CPU)

· Fax Machine

· Router

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 records 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 :

Our 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 exists 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.

Our 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.49.18
UK Pound	1	Rs.76.65
Euro	1	Rs.66.63

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	4
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	5
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		44

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 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	-

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.