MIRA
INFORM REPORT
|
Report Date : |
28.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
VISHAY COMPONENTS INDIA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Loni Kabhor, Near Pune Railway Station, Pune 412201, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
18.02.1999 |
|
|
|
|
Com. Reg. No.: |
014320 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U32109PN1999PTC014320 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEV03750F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturing, Producing, Assembling, Altering, Selling, Purchasing, Importing, Exporting, Marketing, Maintaining, Research and Develop dealing in all types of Electronic Commercial, Industrial, Mechanical, Capacitors and Resistors, their Raw Materials and Equipments. |
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 3770000 |
|
|||
|
|
|
|
|||
|
Status : |
Satisfactory |
|
|||
|
|
|
|
|||
|
Payment Behaviour : |
Usually correct |
|
|||
|
|
|
|
|||
|
Litigation : |
Clear |
|
|||
|
|
|
|
|||
|
Comments : |
Subject is an old and established company. The Company has incurred loss during 2006-07. However, this may not effect its financial
position at present. We tried to talk
to the subject but they declined to part with any details. Trade relations are fair. Payments are reported as usually correct
and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
|
|||
LOCATIONS
|
Registered Office/Factory : |
Loni Kabhor, Near Pune Railway Station, Pune 412201, Maharashtra,
India |
|
Tel. No.: |
91-20-2691 3285 (5 Lines) / 2691 3451 |
|
Fax No.: |
91-20-2691 3738 / 2691 3609 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
B-1217, Mittal Tower, M. G. Road, Bangalore 560025, Karnataka, India |
|
Tel. No.: |
91-80-25586277 |
|
Fax No.: |
91-80-25584291 |
DIRECTORS
|
Name : |
Mr. Christopher Tan Cheng Poh |
|
Designation : |
Chairman |
|
Address : |
No. 1, Seletar close, Singapore - 807209 |
|
Date of Birth : |
17.03.1948 |
|
Date of Appointment : |
28.06.2003 |
|
|
|
|
Name : |
Mr. Ramchandra G. Deshpande |
|
Designation : |
Managing Director |
|
Address : |
Raghukul, Plot No. 13, Acacia – I, Magarpatta City, Hadapsar, Pune – 411 028, Maharashtra, India |
|
Date of Birth : |
17.01.1949 |
|
Date of Appointment: |
22.11.1999 |
|
|
|
|
Name : |
Mr. Rajan M. Shringarpure |
|
Designation : |
Director |
|
Address : |
B-63/73, Viola Near Cipla Foundation, Warje, Pune – 411 056, Maharashtra |
|
Date of Birth : |
01.10.1954 |
|
Date of Appointment : |
21.06.2002 |
|
|
|
|
Name : |
Mr. Jaydev M. Naik |
|
Designation : |
Director |
|
Address : |
C-502, Valencia Viman Nagar, Off. Nagar Road, Pune – 411 004, Maharashtra |
|
Date of Birth : |
23.12.1951 |
|
Date of Appointment : |
21.06.2002 |
|
|
|
|
Name : |
Mr. Stephen Werner Hollerl |
|
Designation : |
Director |
|
Address : |
Jahnstrasse 37, 95707 Thiersheim, Germany |
|
Date of Birth : |
06.01.1963 |
|
Date of Appointment : |
26.06.2003 |
|
|
|
|
Name : |
Mr. Ling Bee Saw |
|
Designation : |
Director |
|
Address : |
20, Jalan Jelita, Singapore - 278344 |
|
Date of Appointment : |
16.09.2003 |
KEY EXECUTIVES
|
Name : |
Mr. Ananthakrishnan Ramkrishnan |
|
Designation : |
Company Secretary |
|
Address : |
M5, Sacred Heart Town, Wanowarie, Pune – 411040, Maharashtra, India |
|
Date of Birth : |
04.07.1967 |
|
Date of Appointment : |
22.10.2003 |
|
Tel. No.: |
91-20-26912468 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2005]
|
Names of Shareholders |
|
No. of Shares |
|
Vishay Components BV |
|
28174816 |
|
Vishay Intertechnology Inc. |
|
200 |
|
|
|
|
|
Equity Share
Break-up [As on 31.03.2007] |
|
Percentage of
Holding |
|
Foreign Holdings |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, Producing, Assembling, Altering, Selling, Purchasing, Importing, Exporting, Marketing, Maintaining, Research and Develop dealing in all types of Electronic Commercial, Industrial, Mechanical, Capacitors and Resistors, their Raw Materials and Equipments. |
|
|
|
|
Products: |
v Resistors for automobile applications v Discrete Semiconductor v Passive Components |
PRODUCTION STATUS
[As on 31.12.2003]
|
Items |
Units |
Licensed/Installed Capacity |
Actual Production |
|
Electrolytic Capacitors |
Pieces |
108,000 |
16,318 |
|
Film Capacitors |
Pieces |
106,000 |
63,385 |
|
Potentio Meters |
Pieces |
70,000 |
23,389 |
|
Resistors |
Pieces |
2,100,000 |
1,001,180 |
|
Foil Varcos & Trimmers |
Pieces |
18,636 |
7,575 |
|
Total |
|
2,402,636 |
1,111,847 |
GENERAL
INFORMATION
|
No. of Employees : |
215 |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Industrial
Finance Branch, 1183-A, Sadashiv Vilas, F.C. Road, Shivaji Nagar, Pune,
Maharashtra, India · Corporation Bank – Industrial Finance Branch Bharat House, Ground Floor, 104, Bombay Samachar Marg, Fort, Mumbai – 400 001, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
(Figures are in Rupees millions)
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
S. R. Batliboi and Company Chartered Accountants |
|
Address : |
C – 410, Fourth Floor, Panchshil Tech Park, Yerwada, Pune 411006,
Maharashtra, India |
|
|
|
|
Holding Company: |
Vishay Intertechnology Inc |
|
|
|
|
Associates : |
· BC Components International BV Meeranakkerplein, 27-30, 5652 BJ, Eindhoven, The Netherlands · BC Components B V Meeranakkerplein, 27-30, 5652 BJ, Eindhoven, The Netherlands · BC Components Beyschlag GmbH Rungholtstrassem 8-10, D-25746 Heide, Gemany · BC Components Verbreiebs GmbH Steindamm 94, 20099 Hamburg, Germany · BC Components Singapore Private Limited 122, Middle Road, # 07-04, Midlink Plaza, Singapore – 188973 · BC Components Holding N.V. 70, Avenue, Franz Guillaumelaan B 1140 Brussels, Belgium · BC Components Hongkong Limited 3/F, Block B, Hoplite Industrial Centre 3-5, Wang Tai Road, Kowloon bay, Kowloon, Hongkong, China · BC Components Valen Limited 3/F, Block B, Hoplite Industrial Centre 3-5, Wang Tai Road, Kowloon bay, Kowloon, Hongkong, China · BC Components Trading Shanghai Company Limited Section B, 3/F No.14, Factory Building 11, Xiya Road, Waigaogiao Free Trade Zone, Shanghai – 200 137, China · BC Components South Europe Srl Via Dante 14, Milan, Italy · BC components Austria GmbH Ebentalerstrasse 140, A-9020, Klagenfurt, Austria · BC Components Holding GmbH Ebentalerstrasse 140, A-9020, Klagenfurt, Austria · BC Components Inc 6071, St. Andrews Road, Columbia, Sc29212-3198, United States · BC Components N. V. Wijnendalestraat 160, B-8800, Roeselare, Belgium · BC Components China Limited 3/F, Block B, Hoplite Industrial Centre 3-5, Wang Tai Road, Kowloon bay, Kowloon, Hongkong, China · BC Components Shanghai Company Limited 251, Jin Yu Road, Jin Qiao Export Processing Zone, PuDong, 20 1206 Shanghai, China · BC Components Taiwan Limited 525 Chung – Shan E Road, Sector 2, China Chungli City, 32032, Taiwan · BC Components UK Limited Hays House, Millmead, GU2 5BE Guildford (Surrey), UK · BC Components SAS 21B, Rue des Deupliers, 92752, Nanterre Cedex, France |
|
|
|
|
Parent Company : |
BC Components International B.V. Meeranakkerplein, 27-30, 5652 BJ, Eindhoven, The Netherlands |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
95000000 |
Equity Shares |
Rs. 10/- each |
Rs. 950.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
83688756 |
Equity Shares |
Rs. 10/-
each |
Rs. 836.887
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
836.888 |
510.750 |
281.750 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
107.001 |
166.949 |
143.878 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
943.889 |
677.699 |
425.628 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
112.380 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
112.380 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
943.889 |
677.699 |
538.008 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
655.371 |
546.903 |
464.927 |
|
|
Capital work-in-progress |
85.652 |
12.779 |
79.664 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
332.153
|
296.739 |
145.076 |
|
|
Sundry Debtors |
192.893
|
168.312 |
104.787 |
|
|
Cash & Bank Balances |
59.818
|
18.254 |
12.556 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
66.088
|
56.310 |
37.789 |
|
Total
Current Assets |
650.952
|
539.615 |
300.208 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
381.118
|
349.417 |
247.965 |
|
|
Provisions |
66.968
|
72.181 |
58.826 |
|
Total
Current Liabilities |
448.086
|
421.598 |
306.791 |
|
|
Net Current Assets |
202.866
|
118.017 |
[6.583] |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
943.889 |
677.699 |
538.008 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Total Income |
|
1216.994 |
1122.604 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
[58.286] |
26.044 |
|
|
Provision for Taxation |
|
-- |
-- |
|
|
Profit/(Loss) After Tax |
|
[58.286] |
26.044 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
|
108.054 |
97.982 |
|
|
Other Expenditure |
|
1167.226 |
998.578 |
|
Total Expenditure |
|
1275.280 |
1096.560 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total
Income |
(%) |
[4.78]
|
2.31 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
[4.78]
|
2.31 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
[4.46]
|
2.39 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
[0.06]
|
0.03 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.47
|
0.62 |
0.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.27 |
0.97 |
LOCAL AGENCY
FURTHER INFORMATION
HISTORY:
Subject was founded in 1962 to manufacture and market foil resistors, an invention of physicist Dr. Felix Landman, Chairman of the Board and founder. The Company began operations with foil resistors and strain gages as its initial product offerings. In 1985, having grown from a start-up into the world’s leading manufacturer of these original products, Vishay began an ongoing series of strategic acquisitions to become a broad – line manufacturers of discrete semiconductors and passive electronic components.
Vishay’s acquisitions include such top names as Siliconix, Telefunken, the infrared component business of Infineon, General Semiconductor, Dale, Draloric, Sprague, Vitramon, and BC components (the former passive components business of Philips Electronics and Beyschlag). These names and the products associated with them are integrated into one global company : Vishay.
Vishay capacitors range from tiny surface-mount devices for hearing aids and cell phones to the large power correction capacitors used in heavy industry.
Vishay made history when it announced new silicon-based RF capacitors with a range of 0.1 pf to 180 pf and capacitance stability from 1MHz to several GHz – making them ideal for wireless communications systems
Bankers Charges
Report as per Registry
|
Name of the company |
VISHAY
COMPONENTS INDIA PRIVATE LIMITED |
|
Presented By |
R.
Ananthakrishnan, Company Secretary |
|
1) Date and description of instrument creating the change |
04.02.2002 Composite Deed of hypothecation for all facilities Agreement of packing credit facility and hypothecation FOBN/FOBP B.P/B.D Agreement All documents constitute single charge. |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs 165.000
Millions |
|
3) Short particular of the property charged. If the property acquired
is subject to charge, date of the acquired of the property should be given |
A] Term loan
limit of Rs. 80.000 Millions fist charge over the borrowers present and
future movable plants and or machineries as per list annexed excluding
machinery of Rs. 190.000 Millions financed through deferred credit. B] packing credit
Rs. 40.000 Millions: first charge by way of hypothecation of stock of raw
materials, semi finished and finished goods, stores and spares such as copper
wire, ceramic rods, lacquers, VR pastes, tin plated caps, targets, voltage
resistors, power and other resistors etc. C] [FOBN/FOBP] of
Rs. 30.000 Millions : First charge on post shipment on the related export
bills D] letter of
credit of Rs. 10.000 Millions first charge on the goods under L/C E] Bank Guarantee
of Rs. 5.000 Millions The charge
created in favour of the Bank of
Maharashtra shall in all respect of rank pari passu with charges
created/ to be created by the company in favour of Corporation Bank for the
following limits: Funded Rs.
210.000 Millions Non Funded Rs.
40.000 Millions Including any ad
hoc loans/interim disbursements together with interest thereon and other monies
payable by the company. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
A] interest @ 14%
p.a. on the term loan being 1.5% over and above the bank’s Prime Lending Rate
which is 12.50% p.a. at present.
Repayment within 4 years with moratorium of 1 year from disbursement. B] Interest as
per C.O. Guidelines on packing credit and FOBN/FOBP. Present rate of interest
@ 8.5% p.a. Margin 10% in banks favour. C] security
towards due payment of the term loan and working capital credit limit
provided by the bank in full with interest and other charges payable to the
bank. D] security shall
be a continuing security in favour of the bank for all and whatsoever amounts
due directly or indirectly jointly or severally with others and in any
branches of the bank. |
|
5) Name and Address and description of the person entitled to the
charge. |
Bank of
Maharashtra Industrial
Finance Branch 1183-A, Sadashiv
Vilas, F.C. Road, Shivaji Nagar, Pune |
|
6) Date and brief description
of instrument modifying the charge |
Letter dated
01.11.2004 confirming repayment of term loan amount. |
|
7) Particulars of modifications specifying the terms and conditions or
the extent of operations of the charge in which modification is made and the
details of the modification. |
First and pari
passu charge alongwith Corporation bank, IFB, Fort, Mumbai on immovable
property situated at Survey No. 399, admeasuring 31 acres and 22 Gunthas and
at Survey No. 61, Hissa No. 1, both situated at Pune was created to secure
the following credit facilities extended by the Bank of Maharashtra :
by present modification,
the bank has confirmed vide its letter dated 01.11.2004 that the borrower has
repaid the term loan amount in full and hence the total credit facilities
stand reduced as follows amounting to Rs. 85.000 Millions a. Packing Credit Rs. 40.000 Millions b. FOBN/FOBP Rs. 30.000 Millions c. Letter of
credit DA/DP Rs. 10.000 Millions d. Bank Guarantee limit Rs. 5.000 Millions all other terms
and conditions remain unchanged. |
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 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. 40.14 |
|
UK Pound |
1 |
Rs. 80.41 |
|
Euro |
1 |
Rs. 62.59 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--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 |
|