MIRA INFORM REPORT
|
Report Date : |
14.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
VIETNAM ROYAL JOINT STOCK COMPANY |
|
|
|
|
Registered Office : |
Room 708 CT3-1 Building, Me Tri Ha New
Urban Me Tri Commune, Tu Liem District, Ha Noi City |
|
|
|
|
Country : |
Vietnam |
|
|
|
|
Financials (as on) : |
31.12.2010 |
|
|
|
|
Date of Incorporation : |
12.12.2006 |
|
|
|
|
Com. Reg. No.: |
0103014981 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Project Investment & construction |
|
|
|
|
No. of Employees
: |
100 persons |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Vietnam |
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 |
|
VIETNAM ROYAL JOINT STOCK COMPANY |
|
Vietnamese Name |
|
CONG TY CO PHAN HOANG GIA VIET NAM |
|
Short name |
|
VINA RAL., JSC |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2006 |
|
Business Registration No. |
|
0103014981 |
|
Date of Registration |
|
12 Dec 2006 |
|
Place of Registration |
|
Hanoi Planning and Investment Department |
|
Current registered capital |
|
VND 10,000,000,000 |
|
Status |
|
Unlisted |
|
Tax code |
|
0102108891 |
|
Total Employees |
|
100 |
|
Size |
|
Small-medium
scale |
Note: The given name
HOANG GIA VIETNAM JOINT STOCK COMPANY in incorrect.
Historical
Identification & Legal form
|
List |
Changed Items |
|
1 |
Subject has got former Address: Room 708
CT3 Building, Me Tri Ha new Urban- Me Tri Commune- Tu Liem District- Ha Noi
City Changed to: 2nd Floor No.27 Alley 106
Hoang Quoc Viet Str., Cau Giay Dist, Ha Noi City |
company ADDRESSES
|
Head Office |
||
|
Address |
|
2nd Floor No.27 Alley 106 Hoang Quoc Viet
Str., Cau Giay District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 22411214 |
|
Fax |
|
(84-4) 62732575 |
|
Email |
|
|
|
Website |
|
|
|
|
||
|
Registration
Address |
||
|
Address |
|
Room 708 CT3-1 Building, Me Tri Ha New
Urban Me Tri Commune, Tu Liem District, Ha Noi City, Vietnam |
|
|
||
|
Transaction
office |
||
|
Address |
|
Piazza pertini 4 20043 Arcore, Italy |
|
Telephone |
|
+39 039 618 0562 |
|
Fax |
|
+39 039 620 1931 |
|
Email |
|
|
|
|
||
|
Transaction
office |
||
|
Address |
|
147/6 Green Road(pantho Green), 9th floor Dhaka-1205,
Bangladesh |
|
Telephone |
|
88 02 761 6440 |
|
Fax |
|
88 02 761 6440 |
|
Email |
|
|
|
|
||
|
Warehouse |
||
|
Address |
|
Tien Lu District, Hung Yen Province, Vietnam
|
|
Telephone |
|
(84-321) 3887076 |
|
Note: This warehouse for processing cinnamon and
anise |
||
DIRECTORS
|
1.
NAME |
|
Ms.
DO NGOC MAI |
|
Position |
|
Chairwoman |
|
Date of Birth |
|
21 Aug 1972 |
|
ID Number/Passport |
|
112160185 |
|
ID Issue Date |
|
18 Nov 2004 |
|
ID Issue Place |
|
Ha Tay Police Station
|
|
Resident |
|
Dong Hamlet, Thuong
Phung Commune, Phuc Tho District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
TRAN SY NGUYEN |
|
Position |
|
Director |
|
Date of Birth |
|
01 Jan 1980 |
|
ID Number/Passport |
|
149023370 |
|
Resident |
|
Group 1, Thien Phien Commune,
Tien Lu District, Hung Yen Province, Vietnam |
|
Nationality |
|
Vietnamese |
|
Mobil phone |
|
+84 972547258 |
|
Email |
|
info@hoanggiavietnam.com.vn |
|
Qualification |
|
Engineer and business management |
|
|
||
|
3.
NAME |
|
Ms.
TRINH THI KIM LOAN |
|
Position |
|
Vice Director |
|
Nationality |
|
Vietnamese |
|
|
||
|
4.
NAME |
|
Ms.
NGUYEN THU TRANG |
|
Position |
|
Accountant |
|
Nationality |
|
Vietnamese |
|
Tel |
|
(84-4) 2241 1214 |
|
Email |
|
|
BUSINESS NATURE AND ACTIVITIES
|
The
subject is currently specializing in two main fields: - Project Investment & construction. |
IMPORT & EXPORT ACTIVITIESs
|
IMPORT: |
||
|
·
Types of products |
|
Agricultural Products and some materials |
|
·
Market |
|
Africa, India, American, Korea, Bangladesh... |
|
·
Mode of payment |
|
T/T, L/C |
|
|
||
|
EXPORT: |
||
|
·
Types of products |
|
Products |
|
·
Market |
|
India, USA, Japan, China, Korea, EU... |
|
·
Mode of payment |
|
T/T, L/C |
BANKERS
|
1.
VIETNAM TECHNOLOGICAL AND COMMERCIAL JOINT STOCK BANK |
||
|
Address |
|
No.70-72 Ba Trieu, Hoan Kiem District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3944 6368 |
|
Fax |
|
(84-4) 3944 6362 |
|
|
||
|
2.
SAI GON-HA NOI COMMERCIAL JOINT STOCK BANK HA NOI BRANCH |
||
|
Address |
|
No.86 Ba Trieu St, Hoan Kiem District, Ha Noi City, Vietnam |
|
Telephone |
|
(84-4) 3944 5440 |
|
Fax |
|
(84-4) 3944 5441 |
|
|
||
|
3.
HONG KONG & SHANGHAI BANKING CORP LTD |
||
|
Address |
|
Pacific Place - 83B Ly Thuong Kiet Str, Hoan Kiem District, Ha Noi
City, Vietnam |
|
Telephone |
|
(84-4) 39333189 |
|
Fax |
|
(84-4) 39460207 |
SHAREHOLDERS
|
1.
NAME |
|
Ms.
DO NGOC MAI |
|
Position |
|
Chairwoman |
|
Date of Birth |
|
21 Aug 1972 |
|
ID Number/Passport |
|
112160185 |
|
Issued on |
|
18 Nov 2004 |
|
Issued Place |
|
Ha Tay Police Station |
|
Resident |
|
Dong Hamlet, Thuong Phung Commune, Phuc
Tho District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
75,000 |
|
Value of shares |
|
VND 7,500,000,000 |
|
|
||
|
2.
NAME |
|
Mr.
TRAN SY NGUYEN |
|
Position |
|
Director |
|
Date of Birth |
|
01 Jan 1980 |
|
ID Number/Passport |
|
149023370 |
|
Resident |
|
Group 1, Thien Phien Commune, Tien Lu
District, Hung Yen Province, Vietnam |
|
Email |
|
info@hoanggiavietnam.com.vn |
|
Mobile phone |
|
+84 972547258 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
5,000 |
|
Value of shares |
|
VND 500,000,000 |
|
|
||
|
3.
NAME |
|
Mr.
DO THANH VINH |
|
ID Number/Passport |
|
111528535 |
|
Resident |
|
Dong Hamlet, Phung Thuong Commune, Phuc Tho
District, Ha Noi City, Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
20,000 |
|
Value of shares |
|
VND 2,000,000,000 |
FINANCIAL DATA
|
BALANCE
SHEET |
|||
Unit: One VND
|
|||
|
Balance sheet date |
31/12/2010 |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
52 |
|
ASSETS |
|||
|
A – CURRENT
ASSETS |
7,912,423,243
|
6,079,000,000
|
3,060,000,000
|
|
I. Cash and cash
equivalents |
1,364,611,463
|
625,000,000
|
537,000,000
|
|
1. Cash |
1,364,611,463 |
625,000,000 |
537,000,000 |
|
2. Cash equivalents |
0 |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
0 |
|
III. Accounts
receivable |
2,017,639,851
|
1,662,000,000
|
919,000,000
|
|
1. Receivable from customers |
1,692,218,327 |
1,337,000,000 |
919,000,000 |
|
2. Prepayments to suppliers |
0 |
0 |
0 |
|
3. Inter-company receivable |
0 |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
0 |
|
5. Other receivable |
325,421,524 |
325,000,000 |
0 |
|
6. Provisions for bad debts |
0 |
0 |
0 |
|
IV. Inventories |
4,202,113,530
|
3,624,000,000
|
1,431,000,000
|
|
1. Inventories |
4,202,113,530 |
3,624,000,000 |
1,431,000,000 |
|
2. Provisions for devaluation of inventories |
|
0 |
0 |
|
V. Other Current
Assets |
328,058,399
|
168,000,000
|
173,000,000
|
|
1. Short-term prepaid expenses |
0 |
0 |
0 |
|
2. VAT to be deducted |
300,321,705 |
140,000,000 |
105,000,000 |
|
3. Taxes and other accounts receivable from the State |
0 |
0 |
0 |
|
4. Other current assets |
27,736,694 |
28,000,000 |
68,000,000 |
|
B. LONG-TERM
ASSETS |
2,421,531,280
|
680,000,000
|
451,000,000
|
|
I. Long term
accounts 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
|
2,039,269,647
|
579,000,000
|
381,000,000
|
|
1. Tangible assets |
2,039,269,647 |
579,000,000 |
381,000,000 |
|
- Historical costs |
2,272,206,458 |
782,000,000 |
457,000,000 |
|
- Accumulated depreciation |
-232,936,811 |
-203,000,000 |
-76,000,000 |
|
2. Financial leasehold assets |
0 |
0 |
0 |
|
- Historical costs |
0 |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
0 |
|
3. Intangible assets |
0 |
0 |
0 |
|
- Initial costs |
0 |
0 |
0 |
|
- Accumulated amortization |
0 |
0 |
0 |
|
4. Construction-in-progress |
0 |
0 |
0 |
|
III. Investment
property |
0 |
0 |
0 |
|
Historical costs |
0 |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
0 |
|
V. Other
long-term assets |
382,261,633
|
101,000,000
|
70,000,000
|
|
1. Long-term prepaid expenses |
0 |
0 |
0 |
|
2. Deferred income tax assets |
0 |
0 |
0 |
|
3. Other long-term assets |
382,261,633 |
101,000,000 |
70,000,000 |
|
VI. Goodwill |
0 |
0 |
0 |
|
1. Goodwill |
0 |
0 |
0 |
|
TOTAL ASSETS |
10,333,954,523
|
6,759,000,000
|
3,511,000,000
|
|
|
|||
|
LIABILITIES |
|||
|
A- LIABILITIES |
2,623,776,362
|
579,000,000
|
975,000,000
|
|
I. Current
liabilities |
2,623,776,362
|
579,000,000
|
975,000,000
|
|
1. Short-term debts and loans |
1,800,000,000 |
0 |
0 |
|
2. Payable to suppliers |
787,731,873 |
543,000,000 |
971,000,000 |
|
3. Advances from customers |
0 |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
36,044,489 |
36,000,000 |
4,000,000 |
|
5. Payable to employees |
0 |
0 |
0 |
|
6. Accrued expenses |
0 |
0 |
0 |
|
7. Inter-company payable |
0 |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
0 |
|
9. Other payable |
0 |
0 |
0 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
0 |
|
II. Long-Term
Liabilities |
0 |
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 |
0 |
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 |
7,710,178,161
|
6,180,000,000
|
2,536,000,000
|
|
I. OWNER’S
EQUITY |
7,710,178,161
|
6,180,000,000
|
2,536,000,000
|
|
1. Capital |
6,000,000,000 |
6,000,000,000 |
2,500,000,000 |
|
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 |
0 |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
0 |
|
9. Other funds |
0 |
0 |
0 |
|
10. Retained earnings |
1,710,178,161 |
180,000,000 |
36,000,000 |
|
11. Construction investment fund |
0 |
0 |
0 |
|
II. Other
sources and funds |
0 |
0 |
0 |
|
1. Bonus and welfare funds |
0 |
0 |
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 |
10,333,954,523
|
6,759,000,000
|
3,511,000,000
|
|
PROFIT
& LOSS STATEMENT |
|||
|
|
|||
|
Description |
FY2010 |
FY2009 |
FY2008 |
|
1. Total Sales |
8,938,006,806
|
1,549,286,300
|
4,381,000,000
|
|
2. Deduction item |
0 |
0 |
0 |
|
3. Net sale |
8,938,006,806
|
1,549,286,300
|
4,381,000,000
|
|
4. Costs of goods sold |
6,133,744,373 |
1,075,286,340 |
3,734,000,000 |
|
5. Gross profit |
2,804,262,433
|
473,999,960
|
647,000,000
|
|
6. Financial income |
19,468,502 |
0 |
3,000,000 |
|
7. Financial expenses |
112,108,528 |
18,956,000 |
22,000,000 |
|
- In which: Loan interest expenses |
0 |
0 |
0 |
|
8. Selling expenses |
0 |
0 |
0 |
|
9. Administrative overheads |
857,288,930 |
315,486,000 |
577,000,000 |
|
10. Net operating profit |
1,854,333,477
|
139,557,960
|
51,000,000
|
|
11. Other income |
0 |
0 |
0 |
|
12. Other expenses |
0 |
0 |
0 |
|
13. Other profit /(loss) |
0 |
0 |
0 |
|
14. Total accounting profit before tax |
1,854,333,477
|
139,557,960
|
51,000,000
|
|
15. Current corporate income tax |
324,508,358 |
24,422,643 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
0 |
|
17. Interest from subsidiaries/related companies |
0 |
0 |
0 |
|
18. Profit after tax |
1,529,825,119
|
115,135,317
|
51,000,000
|
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
||||
|
|
||||
|
Description |
FY2010 |
FY2009 |
FY2008 |
Average
Industry |
|
Current liquidity ratio |
3.02 |
10.50 |
3.14 |
1.94 |
|
Quick liquidity ratio |
1.41 |
4.24 |
1.67 |
0.98 |
|
Inventory circle |
1.57 |
0.43 |
2.61 |
9.29 |
|
Average receive period |
82.39 |
391.55 |
76.57 |
54.01 |
|
Utilizing asset performance |
0.86 |
0.23 |
1.25 |
2.21 |
|
Liability by total assets |
25.39 |
8.57 |
27.77 |
58.72 |
|
Liability by owner's equity |
34.03 |
9.37 |
38.45 |
256.76 |
|
Ebit / Total assets (ROA) |
17.94 |
2.06 |
1.45 |
7.90 |
|
Ebit / Owner's equity (ROE) |
24.05 |
2.26 |
2.01 |
25.68 |
|
Ebit / Total sale (NPM) |
20.75 |
9.01 |
1.16 |
4.18 |
|
Gross profit / Total sale (GPM) |
31.37 |
30.59 |
14.77 |
15.30 |
|
Note: The
Average Industry was calculated by VietnamCredit based on our own statistical
data |
||||
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
Trade Morality |
|
Very Good |
|
Liquidity |
|
Medium/High |
|
Payment status |
|
Average |
|
Financial Situation |
|
Above Average |
|
Development trend |
|
Positive |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
T/T, L/C |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Good |
|
CREDIT INQUIRY: 125,000 USD |
|
A little caution is needed for this credit inquiry. |
INTERPRETATION ON THE SCORES
|
The
subject was founded in 2006 as a joint stock company under the business
registration No.0103014981 issued by Hanoi Planning and Investment
Department. The registered capital is 10 billion with 7 staffs and nearly 100
workers. The subject’s head office is located at 2nd Floor, No.27 Alley 106
Hoang Quoc Viet Str., Cau Giay Dist, Ha Noi City. Besides, the subject has a
warehouse in Hung Yen Province. That is the place to purchase and process
agricultural products. The subject is currently major in two main fields: -
Project Investment & construction. -
Processing and trading agricultural products: Fresh, frozen, dried products
or powder made from Chilli, pineaple, ginger, garlic, onion, saffron, Sweet
potato, batata, red pumpkin, chilli, lychee, longan. The
subject has import-export activities with various markets worldwide (Except
Africa market, it does not export, only imports). Mr. Tran Sy Nguyen- General
Director is an active person and has profound knowledge in business
administration as well as experience. He was born in a traditional business
family with longan products which are specialties of Hung Yen Province. The financial situation of the subject is fair.
The liquidity ratios in recent years were relatively good. The liquidity
ratio was fairly high with the current asset was about 3 times higher than
the current liability. Itself financial capacity was relatively good. Its
business result increased sharply in 2010 compared with 2009. In 2010, the
total sales reached nearly VND 8.9 billion and the profit was VND 1.8
billion. The operational ratio was normal. In conclusion, the
subject company has been operating stably. Its future seems bright. The trade
morality is good. The subject can meet small commitments and transactions. |
APPENDIX
|
INDUSTRY DATA |
||||||
|
|
||||||
|
Industry code |
Growth speed by
price compared with 1994 (%) |
Total
enterprises 2009 |
Total employees
2010 (Thous.pers.) |
Annual average
capital of enterprises 2009 (billion dongs) |
||
|
2010 |
2009 |
|||||
|
Agriculture,
Forestry and Fishing |
2.78 |
1.82 |
8,749 |
23,896.3 |
81,559 |
|
|
Industry and
Construction |
7.70 |
5.52 |
85,115 |
10,630 |
2,751,975 |
|
|
Trade and
Services |
7.52 |
6.63 |
154,978 |
14,522 |
4,939,069 |
|
|
|
||||||
|
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 |
72.2 |
57.1 |
62.7 |
|||
|
Imports |
84.8 |
69.9 |
80.7 |
|||
|
Trade Balance |
-12.6 |
-12.8 |
-18 |
|||
Source: General
Statistics Office
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.40 |
|
UK Pound |
1 |
Rs.83.32 |
|
Euro |
1 |
Rs.70.44 |
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.