MIRA INFORM REPORT

Report No. :	339915
Report Date :	09.09.2015

IDENTIFICATION DETAILS

Name :	WEN-PARKER LOGISTICS (INDIA) PRIVATE LIMITED
Registered Office :	L-9 Surinder Singh Building, Main Road, Mahpalpur, New Delhi – 110037
Tel. No.:	91-11-26781501
Country :	India
Financials (as on) :	31.03.2014
Date of Incorporation :	26.07.2000
Com. Reg. No.:	55-106980
Capital Investment / Paid-up Capital :	Rs.1.000 Million
CIN No.: [Company Identification No.]	U60231DL2000PTC106980
IEC No.:	Not Available
TAN No.: [Tax Deduction & Collection Account No.]	Not Available
PAN No.: [Permanent Account No.]	Not Available
Legal Form :	Private Limited Liability Company
Line of Business :	Subject is engaged in freight forwarding
No. of Employees :	Information declined by the management

RATING & COMMENTS

MIRA’s Rating :

Ba (48)

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

Maximum Credit Limit :	USD 170000
Status :	Satisfactory
Payment Behaviour :	Usually correct
Litigation :	Clear
Comments :	Subject is a subsidiary of WP Holding PTE LTD. It is an established company incorporated in the year 2000 having a satisfactory track record. Available financial indicates company sound financial risk profile marked by good networth position with negligible debt and favorable gap between trade payable and trade receivable. The rating also derives strength from its strong holding and its experienced management. Trade relations are reported as fair. Business is active. Payment terms are reported to be usually correct. 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.

ECGC Country Risk Classification List – March 31, 2015

Country Name	Previous Rating (31.12.2014)	Current Rating (31.03.2015)
India	A1	A1

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

EXTERNAL AGENCY RATING

Not Available

RBI DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS

Subject’s name is not enlisted as a defaulter in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of 31-03-2013.

INFORMATION DENIED BY

Name :	Mr. Pawan Pande
Designation :	Accountant
Contact No.:	91-9716459843
Date :	08.09.2015

LOCATIONS

Registered/ Head Office :	L-9 Surinder Singh Building, Main Road, Mahpalpur, New Delhi – 110037, India
Tel. No.:	91-11-26781501 / 1502
Mobile No.:	91-9716459843 (Mr. Pawan)
Fax No.:	91-11-26781503
E-Mail :	taxauditors.bnb@gmail.com
Website :	www.wen-parker.com
Branch :	Located at: Mumbai Bangalore Chennai Cochin Hyderabad

DIRECTORS

AS ON 30.09.2014

Name :	Foo Ah Mooi
Designation :	Director
Address :	655 Yishun Ave 4, # 08-399, Singapore, 760655, Singapore
Date of Birth/Age :	14.09.1942
Date of Appointment :	16.06.2005
DIN No.:	00703105
Name :	Wai Choo New
Designation :	Director
Address :	New Wai Choo, 49, JLN Wawasan 2/2, Pusat Bandar Puchong, Puchong, 47100, Malaysia
Date of Birth/Age :	14.04.1964
Date of Appointment :	16.06.2005
DIN No.:	00541477
Name :	Mr. Vikas Khullar
Designation :	Director
Address :	P2C 153 Princeton Estate DLF Ph-5 Gurgaon, Gurgaon - 122002, Haryana, India
Date of Birth/Age :	22.07.1968
Date of Appointment :	01.05.2007
DIN No.:	02055568

KEY EXECUTIVES

Name :	Mr. Pawan Pande
Designation :	Accountant

MAJOR SHAREHOLDERS

AS ON 30.09.2014

Names of Shareholders	No. of Shares	% of Holding
Sonali Khullar	5000	5.00
Indu Khullar	5000	5.00
WP Holding PTE Limited, Malaysia	90000	90.00
Total	100000	100.00

Equity Share Break up (Percentage of Total Equity)

AS ON 30.09.2014

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]	90.00
Directors or relatives of Directors	10.00
Total	100.00

BUSINESS DETAILS

Line of Business :	Subject is engaged in freight forwarding
Brand Names :	Not Divulged
Agencies Held :	Not Divulged
Exports :	Not Divulged
Imports :	Not Divulged
Terms :
Selling :	Not Divulged
Purchasing :	Not Divulged

PRODUCTION STATUS – NOT AVAILABLE

GENERAL INFORMATION

Suppliers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

Customers :

Company Name :	Not Divulged
Name of the Person :	Not Divulged
Contact No.:	Not Divulged
Since How Long Known :	Not Divulged
Maximum Limit Dealt :	Not Divulged
Experience :	Not Divulged
Remark :	Not Divulged

No. of Employees :

Information declined by the management

Bankers :

Banker Name :	HSBC Bank Limited
Branch :	Not Divulged
Person Name (With Designation) :	Not Divulged
Contact Number :	Not Divulged
Name of Account Holder :	Not Divulged
Account Number :	Not Divulged
Account Since (Date/Year of Account Opening) :	Not Divulged
Average Balance Maintained :	Not Divulged
Credit Facilities Enjoyed (CC/OD/Term Loan) :	Not Divulged
Account Operation :	Not Divulged
Remark :	Not Divulged

• Citi Bank
• HSBC Limited

Facilities :

SECURED LOANS	31.03.2014 Rs. In Million	31.03.2013 Rs. In Million
Long Term Borrowings
Term Loan - Kotak Mahindra Prime Limited (Secured by Honda CRV)	1.015	1.177
Term Loan - Kotak Mahindra Prime Limited (Secured by Honda City)	0.487	0.485
Total	1.502	1.662

Auditors :
Name :	Bhatia and Bhatia Chartered Accountants
Address :	81 Hemkunt Colony, Level-I, Opposite Nehru Place, New Delhi – 110048, India
Tel. No.:	91-11-26465599 / 26475599
Fax No.:	91-11-26425599
E-Mail :	taxauditor@bnbindia.org
Website :	www.bnbindia.org
PAN No.:	AABFB7196H
Memberships :	Not Divulged
Collaborators :	Not Divulged
Holding Company :	WP Holding PTE
Fellow Subsidiaries/ Associates :	Wen Parker Logistics- Fort Columbus Wen Parker Logistics- Los Angeles Wen Parker Logistics Inc Wen Parker Logistics Shanghai Wen Parker Logistics HKG Wen Parker Logistics Louisville Wen Parker Logistics Jakarta Wen Parker Logistics Bangkok Wen Parker Logistics Guangzhou Wen Parker Logistics Malaysia Wen Parker Logistics Penang Wen Parker Logistics Philippines

CAPITAL STRUCTURE

AS ON 30.09.2014

Authorised Capital:

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

Issued, Subscribed & Paid-up Capital:

No. of Shares	Type	Value	Amount
100000	Equity Shares	Rs.10/- each	Rs.1.000 Million

FINANCIAL DATA

[all figures are in Rupees Million]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS	31.03.2014	31.03.2013	31.03.2012
I. EQUITY AND LIABILITIES
(1)Shareholders' Funds
(a) Share Capital	1.000	1.000	0.600
(b) Reserves & Surplus	58.375	52.144	42.835
(c) Money received against share warrants	0.000	0.000	0.000
(2) Share Application money pending allotment	0.000	0.000	0.000
Total Shareholders’ Funds (1) + (2)	59.375	53.144	43.435
(3) Non-Current Liabilities
(a) long-term borrowings	1.502	1.662	1.636
(b) Deferred tax liabilities (Net)	0.000	0.000	0.000
(c) Other long term liabilities	0.000	0.000	2.279
(d) long-term provisions	12.532	15.950	11.963
Total Non-current Liabilities (3)	14.034	17.612	15.878
(4) Current Liabilities
(a) Short term borrowings	0.000	0.000	0.000
(b) Trade payables	40.930	68.433	16.407
(c) Other current liabilities	7.930	4.412	3.013
(d) Short-term provisions	0.000	0.000	0.000
Total Current Liabilities (4)	48.860	72.845	19.420
TOTAL	122.269	143.601	78.733
II. ASSETS
(1) Non-current assets
(a) Fixed Assets
(i) Tangible assets	7.314	4.955	4.526
(ii) Intangible Assets	0.000	0.000	0.000
(iii) Capital work-in-progress	0.000	0.000	0.000
(iv) Intangible assets under development	0.000	0.000	0.000
(b) Non-current Investments	0.000	0.000	0.000
(c) Deferred tax assets (net)	0.159	0.201	0.174
(d) Long-term Loan and Advances	1.792	0.972	0.999
(e) Other Non-current assets	0.000	0.000	17.283
Total Non-Current Assets	9.265	6.128	22.982
(2) Current assets
(a) Current investments	0.000	0.000	0.000
(b) Inventories	0.000	0.000	0.000
(c) Trade receivables	89.812	103.460	32.061
(d) Cash and cash equivalents	10.778	13.518	7.128
(e) Short-term loans and advances	12.414	20.495	16.562
(f) Other current assets	0.000	0.000	0.000
Total Current Assets	113.004	137.473	55.751
TOTAL	122.269	143.601	78.733

PROFIT & LOSS ACCOUNT

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
SALES
	Income
	Other Income
	TOTAL (A)	NA	265.664	207.965
EXPENSES
	TOTAL (B)	NA	NA	NA
PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		NA	15.269	12.652
FINANCIAL EXPENSES (D)		NA	0.210	0.146
PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		NA	15.059	12.506
DEPRECIATION/ AMORTISATION (F)		NA	1.660	1.110
PROFIT/(LOSS) BEFORE TAX (E-F) (G)		NA	13.451	11.396
TAX (H)		NA	4.373	3.706
PROFIT/(LOSS) AFTER TAX (G-H) (I)		9.746	9.078	7.690
Earnings Per Share (Rs.)		97.46	--	--

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

Particulars	31.03.2014	31.03.2013	31.03.2012
Current Maturities of Long term debt	NA	NA	NA
Cash generated from operations	NA	NA	NA
Net cash flow from (used in) operations	NA	NA	NA

KEY RATIOS

PARTICULARS		31.03.2014	31.03.2013	31.03.2012
Return on Total Assets (PBT/Total Assets)	(%)	NA	9.38	14.51
Return on Investment (ROI) (PBT/Networth)		NA	0.25	0.26
Debt Equity Ratio (Total Debt /Networth)		0.03	0.03	0.04
Current Ratio (Current Asset/Current Liability)		2.31	1.89	2.87

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

DEBT EQUITY RATIO

Particular	31.03.2012	31.03.2013	31.03.2014
	Rs. In Million	Rs. In Million	Rs. In Million
Share Capital	0.600	1.000	1.000
Reserves & Surplus	42.835	52.144	58.375
Net worth	43.435	53.144	59.375
long-term borrowings	1.636	1.662	1.502
Short term borrowings	0.000	0.000	0.000
Total borrowings	1.636	1.662	1.502
Debt/Equity ratio	0.038	0.031	0.025

LOCAL AGENCY FURTHER INFORMATION

Sr. No.	Check list by info agents	Available in Report (Yes/No)
1	Year of establishment	Yes
2	Constitution of the entity -Incorporation details	Yes
3	Locality of the entity	Yes
4	Premises details	No
5	Buyer visit details	--
6	Contact numbers	Yes
7	Name of the person contacted	Yes
8	Designation of contact person	Yes
9	Promoter’s background	Yes
10	Date of Birth of Proprietor / Partners / Directors	Yes
11	Pan Card No. of Proprietor / Partners	No
12	Voter Id Card No. of Proprietor / Partners	No
13	Type of business	Yes
14	Line of Business	Yes
15	Export/import details (if applicable)	No
16	No. of employees	No
17	Details of sister concerns	Yes
18	Major suppliers	No
19	Major customers	No
20	Banking Details	Yes
21	Banking facility details	Yes
22	Conduct of the banking account	--
23	Financials, if provided	Yes
24	Capital in the business	Yes
25	Last accounts filed at ROC, if applicable	Yes
26	Turnover of firm for last two years	Yes
27	Reasons for variation <> 20%	--
28	Estimation for coming financial year	No
29	Profitability for last three years	Yes
30	Major shareholders, if available	Yes
31	External Agency Rating, if available	No
32	Litigations that the firm/promoter involved in	--
33	Market information	--
34	Payments terms	No
35	Negative Reporting by Auditors in the Annual Report	No

NO CHARGES EXIST FOR COMPANY

FIXED ASSETS:

· Computers

· Laptops

· FAX Machine

· Server Proxy

· Telephone/EPBAX

· Air Conditioner

· Air Purifier

· Cash Box

· Ceiling Fan

· Digital Camera

· Dish TV

· Fire Extinguishers

· Inverter

· Kent RO

· Printer

· Refrigerator

· Scanner

· Shredder Machine

· Television

· Typewriters

· UPS

· Vaccum Cleaner

· Voltage Stabiliser

· Weighing Machine

· Xerox Copier

· Battery (Exide)

· Room Heater

· False Ceiling

· Furniture

· Sign Boards

· Tiles & Fittings

· Table Chair

· Generator

· Eicher Truck

· Motor Car- Zen

· Motor Car- Accent

· Motor Car- Honda CRV

· Hero Honda- NXG

· Scooter

· Honda City

· Honda Twister

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 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 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.66.61
UK Pound	1	Rs.102.30
Euro	1	Rs.74.61

INFORMATION DETAILS

Information Gathered by :	SPR
Analysis Done by :	DIV
Report Prepared by :	NKT

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	6
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILITY	1~10	5
--LIQUIDITY	1~10	6
--LEVERAGE	1~10	5
--RESERVES	1~10	6
--CREDIT LINES	1~10	5
--MARGINS	-5~5	--
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--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	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
DEFAULTER
--RBI	YES/NO	NO
--EPF	YES/NO	NO
TOTAL		48

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.