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Report Date : |
19.11.2012 |
IDENTIFICATION DETAILS
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Name : |
CLEAN ENERGY COMPRESSION CORP. |
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Registered Office : |
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Country : |
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Year of Establishment : |
1912 |
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Legal Form : |
Corporation – Profit |
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Line of Business : |
Subject designs and manufactures non-lubricated, reciprocating CNG
compressors, which provide high reliability, efficiency, and extremely clean gas
for vehicle fueling and/or industrial applications |
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No. of Employees : |
300 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Canada |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
canada - ECONOMIC OVERVIEW
As an affluent,
high-tech industrial society in the trillion-dollar class, Canada resembles the
US in its market-oriented economic system, pattern of production, and affluent
living standards. Since World War II, the impressive growth of the
manufacturing, mining, and service sectors has transformed the nation from a
largely rural economy into one primarily industrial and urban. The 1989
US-Canada Free Trade Agreement (FTA) and the 1994 North American Free Trade
Agreement (NAFTA) (which includes Mexico) touched off a dramatic increase in
trade and economic integration with the US its principal trading partner.
Canada enjoys a substantial trade surplus with the US, which absorbs about
three-fourths of Canadian exports each year. Canada is the US's largest foreign
supplier of energy, including oil, gas, uranium, and electric power. Given its
great natural resources, highly skilled labor force, and modern capital plant,
Canada enjoyed solid economic growth from 1993 through 2007. Buffeted by the
global economic crisis, the economy dropped into a sharp recession in the final
months of 2008, and Ottawa posted its first fiscal deficit in 2009 after 12
years of surplus. Canada''s major banks, however, emerged from the financial
crisis of 2008-09 among the strongest in the world, owing to the financial
sector''s tradition of conservative lending practices and strong
capitalization. Canada achieved marginal growth in 2010 and 2011 and plans to
balance the budget by 2015. In addition, the country''s petroleum sector is
rapidly becoming an even larger economic driver with Alberta''s oil sands
significantly boosting Canada''s proven oil reserves, ranking the country third
in the world behind Saudi Arabia and Venezuela.
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Source : CIA |
Company name: CLEAN ENERGY COMPRESSION CORP.
Address: 43676 Progress Way,
Chilliwack, British Columbia V2R 0C3
Canada
Telephone: +1
804-795-9491
Fax: +1 804-792-3806
Website: www.imw.ca
Corporate ID#: BC-0000884810
State: British Columbia
Judicial form: Corporation – Profit
Date incorporated: 06-29-2010
Date founded: 1912
Stock:
-
Value: -
Name of manager: Brad
MILLER
Business:
The Company is doing business as IMW INDUSTRIES.
IMW designs and manufactures non-lubricated, reciprocating CNG
compressors, which provide high reliability, efficiency, and extremely clean
gas for vehicle fueling and/or industrial applications.
IMW Industries is a single-source supplier of CNG fueling systems,
including compressors, dispensers, gas control systems and storage systems.
IMW is dedicated to delivering efficient, high-quality CNG solutions
worldwide.
IMW’s non-lubricated compressor designs set the benchmark for clean CNG
delivery, reducing station and vehicle maintenance and overall operating costs.
IMW delivers timely after-market support through wholly-owned global service
centers and authorized representatives offering technical support, parts and
service. IMW is committed to building long-term relationships by focusing on
customer needs, satisfaction and overall value.
As the only Canadian manufacturer of high-pressure natural gas compressors, IMW
continues to develop superior technology and resources to meet the growing
demand around the world.
Since 2010, IMW Industries has been part of the Clean Energy (www.cleanenergyfuels.com) family of
companies. Clean Energy is North America’s largest provider of CNG and LNG
fueling services, including LNG transportation and turnkey CNG/LNG stations.
Suppliers include:
SHANTHI GEARS LIMITED
304 A SHANTHI GEARS ROAD SINGANALLUR COIMBATORE 641 005 TAMILNADU INDIA
Staff: 300
Operations & branches:
At the headquarters, we find a factory and warehouse (80,000 sq. feet)
and office (10,000 sq. feet) owned.
Shareholders:
This is a private company.
Management:
Brad MILLER is the President and CEO.
He is graduated with a mechanical engineering with the British Columbia
Institute of Technology
Alan SHORT is the CFO.
As far as we know, they are not involved in other local corporations.
Subsidiaries
and partnership:
None
In Canada, privately held
corporations are not required to publish any financials.
On a direct call, a
financial assistant controlled the present report but deferred any financials.
We sent a fax but no answer
received.
Outside sources (bank) gave
sales for year 2011 in the range of
CAD 45,000,000=
The business is said to be
profitable.
Banks: Royal Bank of Canada
45460 Luckakuck Way,
Chilliwack, BC V2R 3S9
Legal filings
& complaints:
As of today date, there is no legal filing pending with the Courts.
Secured debts summary: None
Trade references:
Date reported: October 2012
High credit: CAD 25,000
Now owing: 0
Past due: 0
Last purchase: September 2012
Line of business: Office supply
Paying status: On terms
Date reported: October 2012
High credit: CAD 600,000+
Now owing: 0
Past due: 0
Last purchase: September 2012
Line of business: Payroll
Paying status: As agreed
Date reported: October 2012
High credit: CAD 1,000
Now owing: 0
Past due: 0
Last purchase: September 2012
Line of business: Telecommunications
Paying status: On terms
Domestic credit history:
Domestic credit history
appears as follow:
|
Monthly Payment Trends - Recent Activity |
|
National Credit Bureaus
gave a satisfying credit rating.
According to our credit analysts, during the last 6 months, 95% of trade
experience indicates a regular payment.
International
credit history:
Payments of imports are currently made on terms.
Other comments:
The Company maintains a
regular business.
The bank confirmed a
regular account.
The Company is in good
standing.
This means that all local
and federal taxes were paid on due date.
The risk is low.
Our opinion:
A business connection may
be conducted.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.99 |
|
UK Pound |
1 |
Rs.87.21 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
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 |
|
---- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.