MIRA
INFORM REPORT
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Report Date : |
20.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANISH INDUSTRIAL CORPORATION |
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Registered Office : |
135, Biplabi Rash Behari Basu Road, Kolkata – 700 001, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1990 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALA02239G |
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PAN No. : |
AAFFA5255Q |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer of Aluminum Conductor. |
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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Maximum Credit Limit : |
USD 75000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed concern meeting its normal
commitments timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Sanjay Agarwal |
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Designation : |
Partner |
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Contact No.: |
91-9830154789 |
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Date : |
18.08.2008 |
LOCATIONS
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Registered Office : |
135, Biplabi Rash Behari Basu Road, Kolkata – 700 001, West Bengal,
India |
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Tel. No.: |
91-33-22101882/ 22421004 |
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Mobile No.: |
91-9830154789 |
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Fax No.: |
91-33-22101882/ 22421004 |
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E-Mail : |
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Area : |
1100 Sq. ft. |
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Location : |
Rented |
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Factory : |
20012, Rajaramchand Ghat Road, Panihati |
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Tel. No.: |
91-33-25631904 |
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Fax No.: |
91-33-22101882 |
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Area : |
6000 Sq. ft. |
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Location : |
Leased |
PARTNERS
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Name : |
Mr. Pankaj Kumar Agarwal |
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Designation : |
Partner |
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Date of Birth/Age : |
47 Years |
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Qualification : |
B.Com |
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Name : |
Mr. Sanjay Agarwal |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
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Qualification : |
B.Com |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Aluminum Conductor. |
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Products : |
v Aluminium Conductor Steel Reinforced v Aluminium Alloy Conductor Steel Reinforced v Insulated Aluminium Conductor (AAC/AAAC/ACSR) v Aluminium Wire (Tie, Grounding and Binding Wire) v Galvanized Steel Wire v Galvanized Steel Barbed Wire v Galvanized Steel Messenger Wire v Galvanized Steel Strand Wire |
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Exports : |
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Countries : |
v Middle East v Sri Lanka v Myanmar v Qatar v U.A.E v Germany v West Indies v Nigeria v Kenya v Republic of Yemen v African Countries |
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Terms : |
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Selling : |
L/C, Credit |
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Purchasing : |
Cash and Credit ( 10 – 15 days) |
GENERAL
INFORMATION
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Customers : |
v End Users v Distribution Companies/State
Electricity Boards v Damodar Valley
Corporation v CESC Limited v ABB Limited v Power Utilities
Companies in India v Trinidad and
Tobago Electricity Corporation etc v N.T.P.C. Limited |
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No. of Employees : |
Total : 30 (Office : 10, Factory : 20) |
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Bankers : |
Federal Bank Limited R N Mukherjee |
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Facilities : |
CC Limit |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M K Sinha and Associates Chartered Accountants |
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Address : |
15/3, Har Mohan Datta Road |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 15.000 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 15.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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180.000 |
Expected Sales (2008-09): Rs. 210.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
West Bengal Electricity Distribution Corporation Limited
v
The National Small Industry Corporation
Trust Seal Acceptance Chart
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Parameters |
Details |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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Income Tax Registration |
AAFFA5255Q |
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VAT / TIN Registration |
19260524089 |
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Import Export Code |
0299010589 |
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Current Account Number |
ODCC316 |
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Account Since |
More than 10 Years |
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Trade Affiliations |
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SSI Registration |
21/ 17/ 14749/ PMT/ SSI in 1990 |
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Standards and Certifications |
ISO FM 82353 July, 2006 for 3 Years |
As Per Website Details
Established in the year 1989, they are a professionally managed organization, engaged in manufacture and export of wires and conductors. The range comprises of AAC ( aluminium conductor), AAAC (all aluminium alloy conductor), ACAR (aluminium conductor alloy reinforced), ACSR (aluminium conductor steel reinforced), AACSR (aluminium alloy conductor steel reinforced), insulated aluminium conductor(AAC/AAAC/ACSR), aluminium wire (tie, grounding and binding wire), galvanized steel wire, galvanized steel barbed wire, galvanized steel messenger wire and galvanized steel strand wire.
Under the able guidance of the mentor Mr Pankaj Kr. Agarwal , they have grown
leaps and bounds in the industry. He has sound commerce educational background
and leveraging on his wide experience in the industry, they have been able to
manufacture the products according to the industry standards. The organization
is also associated with Engineering Export Promotion Council, India and CACMAI.
Products
They have amicable tie ups with some of the well known vendors, who supply us with quality raw materials, which is extensively used in the manufacturing process. These raw materials confirms to ISS/BSS/ASTM. They use high quality aluminum rod, galvanized steel wire etc to manufacture a product range, which includes:
v Aluminium Conductor Steel Reinforced
v Aluminium Alloy Conductor Steel Reinforced
v Insulated Aluminium Conductor (AAC/AAAC/ACSR)
v Aluminium Wire (Tie, Grounding and Binding Wire)
v Galvanized Steel Wire
v Galvanized Steel Barbed Wire
v Galvanized Steel Messenger Wire
v Galvanized Steel Strand Wire
Some of the salient features of the
range are-
v Durable
v Higher load resistance capacity
v Effectiveness against high voltage currents
v Used in transmission line, where high conductivity is required
v Excellent corrosion resistance properties
Infrastructure
They have strong infrastructure, which is equipped with machines and
process equipment, which enables in the manufacture of products without any
error. Widespread across an area of 8,000 Sq. Ft. approx., they have a
production capability of 250 mt per month. With targeted production capability,
they have achieved the annual sales turnover of Rs 100,000,000.00 Approx. Some
of the various machines, which they have installed in the production unit are-
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Wire Drawing Machine
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Stranding Machine
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Spooling Machine
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Annealing Furnace
The Team
They have a team
of skilled and qualified personnel, who are well versed in their domain and
ensure to manufacture a range, which is technical error free. They also conduct
regular training and development programs to ensure that the team is abreast
with the latest manufacturing process and can develop the product range without
any faults. Further, these training sessions also keep them updated on the
current market trends, new technologies and aids in honing their technical
skills. This assures that the product range meet the industry standards
regarding quality, safety and durability.
Logistic Support
Warehousing
They have a capacious warehouse to store the products in bulk. It enables us to
meet the ever growing demand
among the client
base. The environmentally controlled warehouse allows us to fulfill the and
long-term requirements of the clients.
Packaging and Transportation
For packaging, they use quality packaging materials, which ensures safe delivery
utilizing protective packaging methods and techniques. For transportation
facilities, they have amicable relationships with C and F agents, who promise
to make timely deliveries for the range. The estimated lead time is two weeks.
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 :
The 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.
The 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 43.23 |
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UK Pound |
1 |
Rs. 80.89 |
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Euro |
1 |
Rs. 63.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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45 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
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NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
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