MIRA INFORM REPORT
|
Report Date : |
21.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
GREEN FIELDS JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
Lot G3.1 + G4 Duc Hoa 1 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
26.06.2009 |
|
|
|
|
Com. Reg. No.: |
1100649008 |
|
|
|
|
Legal Form : |
Joint Stock Company. |
|
|
|
|
Line of Business : |
Producing, Processing, Packaging, and Trading in Pesticide, Fertilizer. |
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 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
|
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT
IDENTIFICATION & LEGAL FORM
Current legal status
|
||
|
English Name |
|
GREEN FIELDS
JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN
DONG XANH |
|
Short name |
|
CONG TY DONG
XANH |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2004 |
|
Business Registration No. |
|
1100649008 |
|
Date of Registration |
|
26 Jun 2009 |
|
Place of Registration |
|
Planning And Investment Department of Long
An Province |
|
Current registered capital |
|
100,000,000,000 VND |
|
Status |
|
Unlisted |
|
Tax code |
|
1100649008 |
|
Total Employees |
|
About 130 |
Historical
Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Business
Registration No: 5003000077 Changed to: 1100649008 |
26
Jun 2009 |
|
2 |
Subject has got former Registered
Investment Capital: 80,000,000,000 VND Changed to: 100,000,000,000 VND |
N/A |
|
|
||
ADDRESSES
|
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Head Office |
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|
Address |
|
Lot G3.1 + G4 Duc Hoa 1 |
|
Telephone |
|
(84-72) 377 9253 |
|
Fax |
|
(84-72) 377 9254 |
|
Email |
|
|
|
Website |
|
|
|
Note: The
correct address is as above. |
||
|
Workshop Address
|
||
|
Address |
|
No.1248 KP Quyet Thang Str., Khanh Hau
Ward - Tan An City - Long An Province - |
|
Telephone |
|
(84-72) 3511713 |
|
Fax |
|
(84-72) 3511712 |
|
Email |
|
|
|
|
||
|
Branch in Can
Tho |
||
|
Address |
|
Thoi Hoa Hamlet Thoi Thuan Commune - Thot
Not District - Can Tho City - |
|
Telephone |
|
(84-71) 3241870 |
|
Fax |
|
(84-71) 3958474 |
|
Email |
|
|
|
|
||
|
Branch in An
Giang |
||
|
Address |
|
Khi Tuong Thuy Van Hamlet Chau Phu B Ward
- Chau Doc District - An |
|
Telephone |
|
(84-76) 386 6589 |
|
Fax |
|
(84-76) 386 6589 |
|
|
||
|
Branch in Can
Tho |
||
|
Address |
|
No. 5 Ngo Duc Ke Str., - Ninh Kieu
District - Can Tho City - |
|
Telephone |
|
(84-71) 3820892 |
|
Fax |
|
(84-71) 3846015 |
|
Email |
|
|
|
|
||
DIRECTORS
|
||
|
|
||
|
1
. NAME |
|
Mr.
PHAM VAN NUNG |
|
Position |
|
Chairman |
|
Date of Birth |
|
12 Oct 1958 |
|
ID Number/Passport |
|
024332204 |
|
Resident |
|
19 Street No.9 Rada
Housing compound, Ward 13 - 6 District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2
. NAME |
|
Mr.
LE VAN SUU |
|
Position |
|
General Director |
|
Date of Birth |
|
13 Dec 1964 |
|
ID Number/Passport |
|
310449419 |
|
Nationality |
|
Vietnamese |
|
Tel/Mobil phone |
|
+84 913 831 557 |
|
|
||
|
3
. NAME |
|
Mr.
PHAM BACH VAN |
|
Position |
|
Deputy General Director |
|
Date of Birth |
|
10 Nov 1958 |
|
ID Number/Passport |
|
024171235 |
|
Resident |
|
No. 492 Au Co Str,
Ward 10, - Tan Binh District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
BUSINESS
NATURE AND ACTIVITIES
|
|
|
|
- Producing, Processing, Packaging, trading in
pesticide, fertilizer - Producing, Processing, Packaging, trading in
mosquito-repellent coil. - Trading in machinery, equipment, seeds, foods. - Merchandise exchange and transport by cars. - Leasing out warehouse |
IMPORT
& EXPORT ACTIVITIES
|
||
|
|
||
|
IMPORT: |
||
|
·
Types of products |
|
Goods |
|
·
Market |
|
|
|
|
||
|
EXPORT: N/A |
||
|
|
||
BANKERS
|
||
|
|
||
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1.
|
||
|
Address |
|
No.305A-307 - Hong Bang Street, Ward 11 - 5 District - |
|
Foreign Currency Account |
|
300.7.10.37.00049 |
|
VND Account |
|
300.7.10.00.00515 |
|
|
||
|
2.
BANK FOR INVESTMENT & DEVELOPMENT OF |
||
|
Address |
|
No. 117 Nguyen |
|
Telephone |
|
(84-8) 39141729 - 8214924 |
|
Fax |
|
(84-8) 39141979 |
|
VND Account |
|
140.10.00.004831.0 |
|
|
||
|
3.
BANK FOR AGRICULTURE AND RURAL DEVELOPMENT LONG AN BRANCH |
||
|
Address |
|
Area 3 |
|
Telephone |
|
(84-72) 3850651 |
|
Fax |
|
(84-72) 3850115 |
|
VND Account |
|
661 320 1000592 |
|
Note: The subject has transaction with
bankers in system of Bank for Investment and Development of Vietnam. |
||
SHAREHOLDERS
|
||
|
|
||
|
1
. NAME |
|
Mr.
PHAM VAN NUNG |
|
Position |
|
Chairman |
|
Date of Birth |
|
12 Oct 1958 |
|
ID Number/Passport |
|
024332204 |
|
Issued on |
|
15 Nov 2004 |
|
Issued Place |
|
Police Station of |
|
Resident |
|
19 Street No.9 Rada Housing compound, Ward
13 - 6 District - |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
1,605,010 |
|
Value of shares |
|
16,050,100,000 VND |
|
|
||
|
2
. NAME |
|
Mr.
PHAM BACH VAN |
|
Position |
|
Deputy General Director |
|
Date of Birth |
|
10 Nov 1958 |
|
ID Number/Passport |
|
024171235 |
|
Resident |
|
No. 492 Au Co Str, Ward 10, - Tan Binh
District - |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
651,750 |
|
Value of shares |
|
6,517,500,000 VND |
|
|
||
|
3
. NAME |
|
Mr.
LE VAN SUU |
|
Position |
|
General Director |
|
Date of Birth |
|
13 Dec 1964 |
|
ID Number/Passport |
|
310449419 |
|
Mobile phone |
|
+84 913 831 557 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
610,500 |
|
Value of shares |
|
6,105,000,000 VND |
|
|
||
|
4 .
NAME |
|
Other
shareholders |
|
Number of shares |
|
7,132,740 |
|
Value of shares |
|
71,327,400,000 VND |
|
|
||
FINANCIAL
DATA
|
|||
|
|
|||
|
BALANCE SHEET |
|||
Unit:
One VND
|
|||
|
Balance
sheet date |
31/12/2009
|
31/12/2008
|
31/12/2007
|
|
Number of weeks |
52 |
52 |
52 |
ASSETS
|
|||
|
A –
CURRENT ASSETS |
137,163,122,025
|
127,694,000,000
|
142,374,000,000
|
|
I.
Cash and cash equivalents |
6,988,587,490
|
16,226,000,000
|
15,923,000,000
|
|
1. Cash |
6,988,587,490 |
16,226,000,000 |
15,923,000,000 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II.
Short-term investments |
8,288,852,000
|
5,500,000,000
|
21,550,000,000
|
|
1. Short-term investments |
8,288,852,000 |
5,500,000,000 |
21,550,000,000 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III.
Accounts receivable |
49,180,381,357
|
25,177,000,000
|
7,010,000,000
|
|
1. Receivable from customers |
45,506,536,848 |
20,114,000,000 |
1,398,000,000 |
|
2. Prepayments to suppliers |
2,934,107,430 |
4,999,000,000 |
4,930,000,000 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
739,737,079 |
64,000,000 |
682,000,000 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV.
Inventories |
68,544,226,956
|
80,791,000,000
|
96,778,000,000
|
|
1. Inventories |
68,624,555,619 |
81,694,000,000 |
96,778,000,000 |
|
2. Provisions for devaluation of inventories |
-80,328,663 |
-903,000,000 |
0 |
|
V.
Other Current Assets |
4,161,074,222
|
0 |
1,113,000,000
|
|
1. Short-term prepaid expenses |
0 |
0 |
0 |
|
2. VAT to be deducted |
0 |
0 |
1,044,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
4,161,074,222 |
0 |
69,000,000 |
|
B.
LONG-TERM ASSETS |
43,219,454,329
|
19,569,000,000
|
12,792,000,000
|
|
I.
Long term account receivable |
0 |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
0 |
|
II.
Fixed assets |
19,626,883,533
|
14,351,000,000
|
12,698,000,000
|
|
1. Tangible assets |
12,684,041,169 |
7,244,000,000 |
7,103,000,000 |
|
- Historical costs |
14,613,235,445 |
8,468,000,000 |
7,767,000,000 |
|
- Accumulated depreciation |
-1,929,194,276 |
-1,224,000,000 |
-664,000,000 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
6,384,765,568 |
5,042,000,000 |
5,184,000,000 |
|
- Initial costs |
6,866,456,500 |
5,334,000,000 |
5,334,000,000 |
|
- Accumulated amortization |
-481,690,932 |
-292,000,000 |
-150,000,000 |
|
4. Construction-in-progress |
558,076,796 |
2,065,000,000 |
411,000,000 |
|
III.
Investment property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV.
Long-term investments |
19,818,242,658
|
5,139,000,000
|
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
13,874,966,298 |
1,353,000,000 |
0 |
|
3. Other long-term investments |
12,427,100,000 |
12,427,000,000 |
0 |
|
4. Provisions for devaluation of long-term investments |
-6,483,823,640 |
-8,641,000,000 |
0 |
|
V.
Other long-term assets |
3,774,328,138
|
79,000,000
|
94,000,000
|
|
1. Long-term prepaid expenses |
3,774,328,138 |
79,000,000 |
94,000,000 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
0 |
0 |
0 |
|
TOTAL
ASSETS |
180,382,576,354
|
147,263,000,000
|
155,166,000,000
|
|
|
|||
LIABILITIES
|
|||
|
A-
LIABILITIES |
46,984,486,404
|
36,406,000,000
|
71,004,000,000
|
|
I.
Current liabilities |
43,384,486,404
|
36,406,000,000
|
71,004,000,000
|
|
1. Short-term debts and loans |
19,693,809,000 |
24,000,000,000 |
45,260,000,000 |
|
2. Payable to suppliers |
9,100,688,392 |
9,871,000,000 |
11,076,000,000 |
|
3. Advances from customers |
0 |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
3,603,192,732 |
1,219,000,000 |
22,000,000 |
|
5. Payable to employees |
195,720,000 |
0 |
66,000,000 |
|
6. Accrued expenses |
39,810,801 |
1,316,000,000 |
2,578,000,000 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction
contracts |
10,751,265,479 |
0 |
0 |
|
9. Other payable |
0 |
0 |
12,002,000,000 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II.
Long-Term Liabilities |
3,600,000,000
|
0 |
0 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
0 |
|
4. Long-term debts and loans |
3,600,000,000 |
0 |
0 |
|
5. Deferred income tax payable |
0 |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
0 |
|
B-
OWNER’S EQUITY |
133,398,089,950
|
110,857,000,000
|
84,162,000,000
|
|
I.
OWNER’S EQUITY |
128,061,450,333
|
107,832,000,000
|
84,162,000,000
|
|
1. Capital |
80,000,000,000 |
80,000,000,000 |
77,595,000,000 |
|
2. Share premiums |
0 |
0 |
0 |
|
3. Other sources of capital |
0 |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
0 |
|
5. Differences on asset revaluation |
-6,123,944 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
0 |
|
7. Business promotion fund |
20,163,138,414 |
4,537,000,000 |
0 |
|
8. Financial reserved fund |
14,441,283,248 |
1,512,000,000 |
0 |
|
9. Other funds |
8,927,360,617 |
0 |
0 |
|
10. Retained earnings |
4,535,791,998 |
21,783,000,000 |
6,567,000,000 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II.
Other sources and funds |
5,336,639,617
|
3,025,000,000
|
0 |
|
1. Bonus and welfare funds |
5,336,639,617 |
3,025,000,000 |
0 |
|
2. Sources of expenditure |
0 |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
180,382,576,354
|
147,263,000,000
|
155,166,000,000
|
|
|
||
|
PROFIT
& LOSS STATEMENT |
||
|
|
||
|
Description |
FY2009 |
FY2008 |
|
1. Total |
232,275,659,052
|
227,228,000,000
|
|
2. Deduction item |
674,357,229 |
0 |
|
3. Net sale |
231,601,301,823
|
227,228,000,000
|
|
4. Costs of goods sold |
162,450,542,480 |
170,100,000,000 |
|
5. Gross profit |
69,150,759,343
|
57,128,000,000
|
|
6. Financial income |
740,353,191 |
1,433,000,000 |
|
7. Financial expenses |
3,820,211,023 |
12,234,000,000 |
|
- In which: Loan interest expenses |
1,447,389,103 |
1,661,000,000 |
|
8. Selling expenses |
3,239,589,612 |
207,000,000 |
|
9. Administrative overheads |
6,818,642,800 |
2,734,000,000 |
|
10. Net operating profit |
56,012,669,099
|
43,386,000,000
|
|
11. Other income |
34,013,709 |
0 |
|
12. Other expenses |
404,830,046 |
0 |
|
13. Other profit /(loss) |
-370,816,337
|
0 |
|
14. Total accounting profit before tax |
55,641,852,762
|
43,386,000,000
|
|
15. Current corporate income tax |
2,576,719,541 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
|
18. Profit after tax |
53,065,133,221
|
43,386,000,000
|
|
|
||||
|
FINANCIAL
RATIOS AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2009
|
FY2008
|
FY2007
|
Average
Industry |
|
Current liquidity ratio |
3.16 |
3.51 |
2.01 |
1.98 |
|
Quick liquidity ratio |
1.58 |
1.29 |
0.64 |
1.14 |
|
Inventory circle |
2.37 |
1.92 |
- |
4.57 |
|
Average receive period |
77.51 |
40.44 |
- |
74.01 |
|
Utilizing asset performance |
1.28 |
1.54 |
- |
1.52 |
|
Liability by total asset |
26.05 |
24.72 |
45.76 |
56.31 |
|
Liability by owner equity |
35.22 |
32.84 |
84.37 |
172.82 |
|
Ebit / Total asset (ROA) |
31.65 |
30.59 |
- |
11.85 |
|
Ebit / Owner's equity (ROE) |
42.80 |
40.64 |
- |
32.44 |
|
Ebit / Total sale (NPM) |
24.58 |
19.82 |
- |
7.81 |
|
Gross profit / Total sale (GPM) |
29.77 |
25.14 |
- |
21.11 |
|
Note: The Average Industry was calculated by Vietnam Credit
based on our owned statistical data |
||||
|
|
||
PAYMENT HISTORY & PERFORMANCE
EXPERIENCES
|
||
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
High |
|
Payment status |
|
Above Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
L/C, TT |
|
|
|
Wholesaler |
|
Public opinion |
|
Well-known |
|
|
|
|
|
CREDIT INQUIRY: 125,000 USD against DA in terms |
|
Acceptable! |
INTERPRETATION
ON THE SCORES
|
|
|
|
The subject
company was established in 2004 as a joint stock company, operates in
producing pesticides under the business code number 1100649008, granted by
Planning and Investment Department of Long An province. The
subject is located at lot G3.1+G4, Duc Hoa 1 Industrial Zone, Duc Hoa Dong
Commune, Duc Hoa Dist, Long An Province. Besides, the subject also has two
branches in Can Tho City and a branch in An Giang Province. Moreover, the
subject company has been enlarging shops system all over the country. Some main
products of the subject are HerStop 10 SC, HerRice 10 WP, CinoRice 25 WP…
They are distributed largely in the southern area. The
operation of the subject is fairly effective. The sale has been growing
continuously. According to financial data, the business result in 2009 was
better than in 2008. Total assets increased in comparison with 2008. However
the credit policies of the subject are quite easy. Accounts receivable in
2009 increased 95% and 600% in compared with 2008 and 2007 respectively. The
liquidity ratios of the subject were relative high (Current liquidity ratio
was 3.16 units and Quick liquidity ratio was 1.58 units). That is safe ratios
for creditors. The financial ratios of the subject in 2009 and 2008 were
fairly good in compared with average industry, especial the profitability
ratios. In the
first 6 months of 2010, the subject also received significant result. It
reached VND 121,024 million in sale and VND 26,964 million in profit before tax.
Its business operation has been stable and its future seems bright. Trading
in this field, the subject company must face to face with a lot of
competitors. However, the subject company can be considered as efficiently
operating. Its trade morality is good.
It can meet small and medium commitments for current period. |
APPENDIXES
|
INDUSTRY
DATA |
||||||
|
|
||||||
|
Industry
code |
Growth
speed (%) |
Total
employees 2009 (Thousand) |
Total
enterprises |
Annual
average capital of enterprises |
||
|
Predict
2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.8 |
3.0 |
24,788.5 |
2,399 |
50,530 |
|
|
Trade
and Services |
7.5 |
11 |
10,517.9 |
79,181 |
1,754,973 |
|
|
Construction |
7 |
11.3 |
2,692.8 |
17,783 |
248,268 |
|
|
Manufacturing |
12 |
7.6 |
7,591.2 |
30,786 |
967,068 |
|
|
|
||||||
|
ECONOMIC
INDICATORS |
||||||
|
|
||||||
|
|
2010 |
2009 |
2008 |
|||
|
Population (Million
person) |
86.93 |
86.02 |
86.1 |
|||
|
Gross Domestic
Products (US$ billion) |
102.2 |
91 |
84.9 |
|||
|
GDP Growth (%) |
6.78 |
5.32 |
6.2 |
|||
|
GDP Per Capita
(US$) |
1,160 |
1,080 |
1,040 |
|||
|
Inflation (% Change
in Composite CPI) |
11.75 |
6.88 |
24.4 |
|||
|
|
||||||
|
SERVICE
TRADE PERFORMANCE |
||||||
|
|
||||||
|
Billion USD |
2010 |
2009 |
2008 |
|||
|
Exports |
71.6 |
56.6 |
62.9 |
|||
|
Imports |
84 |
68.8 |
76.6 |
|||
|
Trade Balance |
-12.4 |
-12.2 |
-14.6 |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.92 |
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 |
-- |
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.