MIRA
INFORM REPORT
|
Report Date : |
07.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ROBINSONS AIR
SERVICES |
|
|
|
|
Registered Office : |
Canara Bank Building, 15/17, Adi Marzban Path, Ballard Estate, Mumbai
- 400 038, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007
[Estimated] |
|
|
|
|
Date of Incorporation : |
1978 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR00547B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAAFR9919F |
|
|
|
|
Legal Form : |
Partnership
concern with unlimited liability of the partners |
|
|
|
|
Line of Business : |
Subject is
engaged in as Clearing and Forwarding Agents. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Regular |
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|
Litigation : |
Clear |
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|
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Comments : |
Management of the
concern remained non – cooperative during current investigation. Subject is
an established concern having satisfactory track records. Trade relations are
fair. Payments are usually correct and as per commitments. The concern can
be considered normal for business dealings at usual trade terms and
conditions. Mr. Anil Vazirani, Managing Partner of the concern declined to part
with any information. Hence, this
report is based on indirect sources of information. |
LOCATIONS
|
Registered/Corporate/Head Office : |
Canara Bank Building, 15/17, Adi Marzban Path, Ballard Estate, Mumbai
- 400 038, Maharashtra, India |
|
Tel. No.: |
91-22-22620311 / 22621264 / 22616243 / 42 |
|
Fax No.: |
91-22-22615460 / 22690933 |
|
E-Mail : |
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|
Website : |
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|
Area : |
800 Sq. ft |
|
Location : |
Rented |
|
|
|
|
Branches : |
Adarsh Industrial
Estate, Unit No. 4 & 5, Sahar Road, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra |
|
Tel. No.: |
91-22-28349648 |
|
Fax No.: |
91-22-28364926 |
|
|
|
|
Branches : |
Located at Ahmedabad,
Baroda, Chennai, New Delhi, Bangalore, Calcutta, Hyderabad and Pune |
|
|
|
|
|
AHMEDABAD Tel.- 91-79-7541204/7541205 Fax.- 91-79-7544107 E-Mail-: rasamd@robinsonsindia.com
Mr. ASPI KAPADIA Branch Manager BARODA Tel.- 91-265-300815 Fax.- 91-265-323504 E-Mail-: rasbdq@robinsonsindia.com
Mr. SANTOSH PATIL Sr. Sales Executive CHENNAI Tel.- 91-44-8278403/8259313 Fax.- 91-44-8263089 E-Mail-: rasmaa@robinsonsindia.com Mr. ANANDA RAO Branch Manager NEW DELHI Tel.- 91-11-6785056/6785057 Fax.- 91-11-6785059 E-Mail-: rasdel@robinsonsindia.com
Mr. ARJUN VOHRA Branch Manager BANGALORE Tel.- 91-80-5299429/5270936 Fax.- 91-80-5270937 E-Mail-: rasblr@robinsonsindia.com
Mr. PREM KUMAR Branch Manager CALCUTTA Tel.- 91-33-2823751/2821669 Fax.- 91-33-2827866 E-Mail-: rasccu@robinsonsindia.com Ms. RACHEL FITZGERALD Import Assistant HYDERABAD Tel.-91-40-7767799/2892 Fax.-91-40-7761587 E-Mail-: rashyd@robinsonsindia.com Mr. R.SUBRAMANYAM Branch Manager PUNE Tel.- 91-020-6133009 Fax.- 91-020-6138861 E-Mail-: rashyd@robinsonsindia.com Mr. ANIRUDH MONE Asst.Manager Sales OTHER BRANCH OFFICES BOMBAY IMPORT AIR Tel.- 91-22-8340696/8365582 Fax.- 91-22-8220760 E-Mail-: bomimp@robinsonsindia.com
Mr. FREDDY DHABHER General Manager - Air Imports BOMBAY IMPORT OCEAN OPERATIONS Tel.- 91-22-2620311 Fax.- 91-22-2615460 E-Mail-: bomocean@robinsonsindia.com
Mr. RAM WADHVA BOMBAY IMPORT SALES AIR & SEA Tel.- 91-22-2620311 Fax.- 91-22-2615460 E-Mail-: bomsales@robinsonsindia.com
Mr. VIRAF MORY Manager Sales BOMBAY EXPORT AIR Tel.- 91-22-8349648/7057 Fax.- 91-22-8364926 E-Mail-: bomexp@robinsonsindia.com
Mr. FREDDY DHABHER General Manager - Air Exports BOMBAY EXPORT OCEAN OPERATIONS Tel.- 91-22-2620311 Fax.- 91-22-2615460 E-Mail-: bomocean@robinsonsindia.com
Mr. B. H. OBEROI Manager - Ocean Exports |
PARTNERS
|
Name : |
Mr. Anil Vazirani
|
|
Designation : |
Managing Partner |
|
|
|
|
Name : |
Mr. Prem Vazirani |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Suchita
Vazirani |
|
Designation : |
Partner |
|
|
|
|
Name : |
Ms. Priya
Vazirani |
|
Designation : |
Partner |
|
|
|
|
Name : |
Ms. Bhavna
Vazirani |
|
Designation : |
Partner |
|
|
|
|
Name : |
M/s. Anil
Vazirani Trust |
|
Designation : |
Partner |
|
|
|
|
Name : |
M/s. Saju
Vazirani Trust |
|
Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Subject is
engaged in as Clearing and Forwarding Agents. |
GENERAL
INFORMATION
|
Customers : |
Traders,
Importers and Exporters Some of the major
customers are as under : v
Shipping
Corporation of India Limited v
Ellerman
Lines v
Norasia
Lines v
Mediterranean
Shipping Company v
SINSOV |
|
|
|
|
No. of Employees : |
40 |
|
|
|
|
Bankers : |
HSBC Bank, Mumbai
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations : |
-- |
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|
|
|
Associates/Subsidiaries : |
Maritime Services
Private Limited, Mumbai, Maharashtra (Summarised financials enclosed) 301/303, Emca
House, 289, Shahid Bhagat Singh Road, Mumbai, Maharashtra Tel. No.
91-22-22621181 / 22621182 Fax No.
91-22-22620579 Email –
mspl@msplindia.net Registration No.
– 12685 Line of Business
– Subject is engaged in Shipping Agency Commission Director – Mr. Prem F
Vazirani Mr. Anil Vazirani Ms. Suchitra A
Vazirani Ms. Saju
Vazirani Neptune Shipping
Company Private Limited (Summarised
financials enclosed) 15/17, ADI Marzban
Path, C B Building, Ballard Estate, Mumbai
Tel. No.
91-22-22625538 / 22622308 Fax No.
91-22-22625051 Email – neptunes@bol.net.in Registration No.
13016 Shipping Services |
|
|
|
|
Membership |
World Air Cargo
Organisation |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 2.500
Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 2.500
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2007 (Estimated) |
31.03.2006 (Estimated) |
|
Sales Turnover |
|
100.000 |
80.000 |
ABRIDGED BALANCE
SHEET
Maritime Services Private Limited
|
SOURCES OF FUNDS |
|
31.03.2003 |
31.03.2002 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.450 |
0.450 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
37.294 |
21.503 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
37.744 |
21.953 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
3.835 |
0.853 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
3.835 |
0.853 |
|
|
DEFERRED TAX LIABILITIES |
|
1.275 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
42.854 |
22.806 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
18.403 |
13.352 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
13.468 |
13.451 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
|
|
|
Sundry Debtors |
|
|
|
|
|
Cash & Bank Balances |
|
68.395 |
46.524 |
|
|
Other Current Assets |
|
|
|
|
|
Loans & Advances |
|
|
|
|
Total Current Assets |
|
68.395 |
46.524 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
57.412 |
50.521 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities |
|
57.412 |
50.521 |
|
|
Net Current Assets |
|
10.983 |
(3.997) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
42.854 |
22.806 |
|
KEY RATIOS
Maritime Services Private
Limited
|
PARTICULARS |
|
|
31.03.2003 |
31.03.2002 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.62 |
2.34 |
|
|
|
|
|
|
|
Current Ratio (Current
Asset/Current Liability) |
|
|
1.19 |
0.92 |
ABRIDGED BALANCE
SHEET
Neptune Shipping Company Private
Limited
|
SOURCES OF FUNDS |
|
31.03.2003 |
31.03.2002 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.500 |
0.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
4.558 |
4.321 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
5.058 |
4.821 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.058 |
4.821 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.447 |
0.537 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
2.351 |
2.350 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
|
|
|
Sundry Debtors |
|
|
|
|
|
Cash & Bank Balances |
|
2.923 |
2.232 |
|
|
Other Current Assets |
|
|
|
|
|
Loans & Advances |
|
|
|
|
Total Current Assets |
|
2.923 |
2.232 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.663 |
0.298 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total Current Liabilities |
|
0.663 |
0.298 |
|
|
Net Current Assets |
|
2.260 |
1.934 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.058 |
4.821 |
|
KEY
RATIOS
Neptune Shipping Company Private
Limited
|
PARTICULARS |
|
|
31.03.2003 |
31.03.2002 |
|
Debt Equity Ratio (Total
Liability/Networth) |
|
|
0.13 |
0.06 |
|
|
|
|
|
|
|
Current Ratio (Current
Asset/Current Liability) |
|
|
4.40 |
7.48 |
LOCAL AGENCY
FURTHER INFORMATION
BUSINESS
The concern acts as
clearing and forwarding agents.
It handles imports and
exports, both by air and sea, including inter-modal transport.
Subject is an
approved IATA agent.
AS PER
WEBSITE DETAILS
The Robinsons
Group of Companies
Robinsons
1954
Maritime Services
1972
Robinsons Air
Services
1978
Neptune Shipping
1988
The
Robinsons story began in 1954, when Robinsons was set up primarily as a
stevedoring company, for handling import and export of break- bulk
cargo.Appointed as licensed stevedore by the Bombay Port Trust (BPT) and the
Kandla Port Trust, Robinsons continues to maintain its position as the leader
in its field and today services a number of prestigious clients including the
Shipping Corporation of India, Ellerman Lines, Norasia Lines, Mediterranean
Shipping Company and SINSOV and many others. Robinsons today has all the
necessary equipment to handle both breakbulk and containers.
Robinsons
Air Services is a dedicated division meant for handling imports and exports
both by air and sea, including inter-modal transport. Initially set up in 1972
under the Robinsons umbrella to handle air cargo, the fast growing
import-export cargo business and the growing business requirements of a large
customer base necessitated the setting up of RAS as a separate entity.
RAS
is a full fledged cargo agency, and is today handling a large volume of cargo
business, covering a wide range of items both imported into the country and
exported abroad. RAS is an approved IATA agent and also holds a valid customs
license. It is also a member of World Air Cargo Organisation. (WACO).
Services
Air Freight
- The essence of Robinsons Air Services Freight Management's offering
is to move freight by air at the required time to the required
destination. Robinsons Air Services is one of the world's leading
providers of airfreight services along with its partners in the WACO
system. Robinsons Air Services global partners handle by airfreight nearly
a million shipments and 100 000 tons freight annually.
- Robinsons Air Services managers with its professionally trained
staff and specialized services offer a single shipment to multi freight
management programme with flexibility and personalized services to its
customers.
- Time definite and time deferred services are available with a host
of value additions and specialized handling systems and procedures with
competitive pricing worldwide.
- Airfreight capabilities :-
a. Airport to Airport
b. Break bulk
c. Charters
d. Consolidated freight
e. Door to Door
f. Express Services
g. IATA direct
h. Oversized and odd sized
i. Restricted and Hazardous cargo
j. Specific lift
- Robinsons Air Services also offers its own ERP Management Services
to its customers for managing their warehouse inventories and dispatches
and uplinks the information directly on to its own site, thus increasing
speed and reducing time lag.
- Robinsons Air Services thus offers a comprehensive forwarding
services with global coverage, multi-model capabilities, complete customs
brokerage capabilities, web enabled tracking and tracing with flexible and
tailor-made solutions to meet its customers needs.
SEA FREIGHT
- As one of the leading sea freight forwarders Robinsons Air Services
handles large volumes on global basis, specific to requirements on single
or multiple routes.
- Robinsons Air Services has a comprehensive range of sea freight
services for inbound and outbound cross trade movements extending from
full container load (FCL) to less than container load (LCL), consolidation
of normal and odd sized movements with full customs formalities.
- As a unique programme, Robinsons Air Services has developed a preferential
supplier programme. The most of the worlds largest shipping lines in order
to secure competitive rates, guarantee space & time with flexibility
on all ocean routes.
- Sea freight services include :-
a. Buyer consolidation
b. Break bulk
c. Charter and part charter
d. Conference and Non Conference
e. Containerisation FCL / LCL
f. Door to Door
g. NVOCC Projects
h. Port to Port
i. Specialised cargo - A global track and trace services are also available for all shipments
through Robinsons Air Services through its own web site to all its
customers world over.
- With Robinsons Air Services Global
Freight Management System by air and sea, also come through a host of its
sister companies and MOU partners, the following services as value
addition.
a. Event Logistics
b. Exhibition Logistics
c. Transport Solutions
d. Insurance Consultancy
e. Security Guidelines
f. Warehouse and Distribution
g. Specialised Product Handling
h. Integrated IT solutions
i. Tailor-made Value Added Services
SUPPLY CHAIN MANAGEMENT
Introduction
Globalisation is a much discussed and hyped phenomenon in India today. The free
economy that India is trying to adopt through the liberalisation process will
naturally culminate in the opening up of the markets and globalisation, the
beginning of which has already started. This has ushered in new challenges and
the Indian companies are facing higher levels of competition in the market
place, not only from the other local players but also from multinationals, who
are better organised and have considerable hands-on experience in fighting
competition in more matured markets. To retain existing market share and to
grow in such a competitive business environment, the companies will necessarily
have to respond to the needs for,
- Improving Quality of product
- Competitive Pricing
- Quicker Response to change (in volumes, models, designs, etc.)
- Reducing Lead Times (of enquiry, supply, development of new
products, etc.)
- Increasing Flexibility (in commercial, payment terms, etc.)
In other words they will have to
improve the quality of services in addition to the quality of products and
implement Total Quality Management (TQM) philosophy at all levels of their
organisations.
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. 39.43 |
|
UK Pound |
1 |
Rs. 77.74 |
|
Euro |
1 |
Rs. 58.41 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
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 |
|
TOTAL |
|
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
|
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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|