MIRA INFORM REPORT

 

 

Report Date :

16.02.2011

 

IDENTIFICATION DETAILS

 

Name :

MASCHINENFABRIK RIETER AG

 

 

Registered Office :

Klosterstrasse 20, Postfach, 8406 Winterthur

 

 

Country :

Switzerland

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

01.07.1952

 

 

Com. Reg. No.:

020.3.916.776-1 / 153459

 

 

Legal Form :

Company limited by shares

 

 

Line of Business :

develops and produces machinery and integrated systems

 

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 :

CHF 1'500'000

Status :

Good

Payment Behaviour :

Regular

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Switzerland

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

company name

 

Maschinenfabrik Rieter AG

"Rieter Textile Systems"

 

 

Operating address

 

Klosterstrasse 20

Postfach

8406 Winterthur

Switzerland/CH

Telephone:                    052 2087171

Fax:                             052 2087100

Web site:                      http://www.rieter.com

E-mail:                         info@rieter.com

VAT-No.:                      CHE-105.788.761

 

 

Profile

 

Established:                  1795

History:                           1795:    Established as J.J. Rieter Baumwoll- und Kolonialwarenhandel

Line of Business:           Financial services, Machinery

Industry Division:           Services, Manufacturing

Industry-code (NACE):     6420     Activities of holding companies

                                      2894     Manufacture of machinery for textile, apparel and leather production

Import/Export:               Export

Banks:                         UBS Ltd

                                    CS Credit Suisse

 

 

Operational Figures

 

Coverage:                     Group

Employees:                  4'000-5'999

Sales:                          CHF 400-600 Mio

 

 

Activity

 

The company develops and produces machinery and integrated systems for converting fibers and plastics into yarns, nonwovens and pellets.

 

 

Real Estate

 

Real Estate:                    The company owns extensive property.

 

 

Company Register

 

Company No:                020.3.916.776-1 / 153459

Legal form:                    Company limited by shares

Registration:                 01.07.1952

Legal status:                 active

Responsible Register:    Handelsregister des Kantons Zürich (since 07.05.1985)

Auditor:                        PricewaterhouseCoopers AG, Zürich

History:                        Date of Statutes: 29.04.1985

                                    Date of Statutes: 31.03.2009

                                    Date of Statutes: 30.10.2008

                                    Date of Statutes: 10.03.2004

                                    Date of Statutes: 21.08.1995

 

Entry            Deleted   Name

active                           Maschinenfabrik Rieter AG

active                           Rieter Machine Works Ltd (Name translated)

active                           Ateliers de Construction Rieter SA (Name translated)

active                           Fabbrica di Macchine Rieter SA (Name translated)

active                           Fàbrica de Máquinas Rieter SA (Name translated)

 

Entry            Deleted   Legal domicile

active                           Winterthur, Switzerland

 

Entry            Deleted   Address

active                           Klosterstrasse 20, 8406 Winterthur/ZH, Switzerland/CH

 

Entry            Deleted   Capital

09.07.2004                    Share Capital CHF 8'500'000, paidup CHF 8'500'000

 

Entry            Deleted   Capital Structure

09.07.2004                    85'000 Registered shares of CHF 100.--

 

Entry            Deleted   Activity (original Language)

20.04.2009                    Die Gesellschaft bezweckt den Betrieb einer Maschinenfabrik und Handelsunternehmung in Winterthur und an anderen Orten, den Erwerb von und Handel mit Patenten, Muster- und Modellrechten, Marken und anderen immateriellen Gütern, die Erstellung von Studien über Beratung bei der Erstellung und dem Betrieb von Anlagen und Vorgängen auf technischem Gebiet. Die Gesellschaft kann sich an anderen Industrie- und Handelsunternehmen beteiligen sowie im In- und Ausland Zweigniederlassungen errichten und Tochtergesellschaften gründen. Die Gesellschaft kann Verwaltungsdienstleistungen für Dritte übernehmen. Die Gesellschaft kann alle kommerziellen, finanziellen und anderen Tätigkeiten ausüben, welche mit dem Zweck der Gesellschaft im Zusammenhang stehen. Sie kann überdies anderen Gruppengesellschaften des Rieter-Konzerns Darlehen oder andere Finanzierungen gewähren und für Verbindlichkeiten von solchen Gruppengesellschaften Sicherheiten aller Art stellen, einschliesslich mittels Pfandrechten an oder fiduziarischen Übereignungen von Aktiven der Gesellschaft oder Garantien jedwelcher Art. Die Gesellschaft kann Grundstücke im In- und Ausland erwerben, verwalten und veräussern.

                  20.04.2009  Betrieb einer Maschinenfabrik und Handelsunternehmung in Winterthur und an anderen Orten, Erwerb von und Handel mit Patenten, Muster- und Modellrechten, Marken und anderen immateriellen Gütern, Erstellung von Studien über Beratung bei der Erstellung und dem Betrieb von Anlagen und Vorgängen auf technischem Gebiet; kann sich an anderen Industrie- und Handelsunternehmen beteiligen, Verwaltungsdienstleistungen für Dritte übernehmen sowie Grundstücke erwerben, verwalten und veräussern.

 

Entry            Deleted   Remarks (original Language)

active                           Publishing authority: SHAB.

active                           Merger: Uebernahm auf dem Wege der Fusion die Bertschinger Maschinenhandel AG, in Wallisellen. Aktiven und Passiven der Bertschinger Maschinenhandel AG sind gemäss Fusionsvertrag vom 5.1.1987 und Fusionsbilanz per 31.12.1986 im Sinne von Art. 748 OR an die Maschinenfabrik Rieter AG übergegangen; näheres siehe Tagebuch 11056/1987. 

09.07.2004                    Shares: Bei der Kapitalherabsetzung vom 10.3.2004 wird der Nennwert der 85'000 Namenaktien zu CHF 1'000.-- auf CHF 100.-- herabgesetzt und je CHF 900.-- pro Aktie zurückbezahlt; die Beachtung der gesetzlichen Vorschriften von Art. 734 OR wird mit öffentlicher Urkunde vom 25.5.2004 festgestellt.

29.08.1995                    Shares: Die Übertragbarkeit der Namenaktien ist nach Massgabe der Statuten beschränkt.

29.08.1995                    Reports: Alle Mitteilungen der Gesellschaft an die Aktionäre erfolgen durch Brief, Fernschreiben, Telefax oder durch Telegramm an die im Aktienbuch verzeichneten Adressen.

 

 

Official Administration

 

Title                                             Name

President                                    Peter Gnägi, Origin: Schwadernau, Switzerland, Address: Stäfa, Switzerland, joint signature of two

Executive Director                       Urs Leinhäuser, Origin: Neuhausen am Rheinfall, Switzerland, Address: 8400 Winterthur/ZH, Switzerland, joint signature of two

Executive Director                       Thomas Anwander, Origin: Winterthur, Switzerland, Address: 8400 Winterthur/ZH, Switzerland, joint signature of two

 

 

Management

 

Title                                           Name

Member of the management         Kurt Schneeberger, Origin: Ochlenberg, Switzerland, Address: Seuzach, Switzerland, joint signature of two

Member of the management         Reto Thom, Origin: Susch, Switzerland, Address: Seuzach, Switzerland, joint signature of two

Member of the management         Sigi Föhn, Origin: Unteriberg, Switzerland, Address: Gossau/ZH, Switzerland, joint signature of two

Member with signing authority      Werner Strasser, Origin: Nussbaumen, Winterthur, Switzerland, Address: Steckborn, Switzerland, joint signature of two

Member with procuration              Matthias Stüssi, Origin: Niederurnen, Switzerland, Address: 8451 Kleinandelfingen/ZH, Switzerland, joint power of attorney of two, Appointment: 02.02.2010

Member with procuration              Bernd Leyendecker, Origin: Germany, Address: 8400 Winterthur/ZH, Switzerland, joint power of attorney of two, Appointment: 24.03.2010

Member with procuration              Cafer Tayyar Yörüker, Origin: Winterthur, Switzerland, Address: 8602 Wangen-Brüttisellen/ZH, Switzerland, joint power of attorney of two, Appointment: 31.03.2010

Member with procuration              Kurt Lüttinger, Origin: Winterthur, Switzerland, Address: 8400 Winterthur/ZH, Switzerland, joint power of attorney of two, Appointment: 24.03.2010

Member with procuration              Gerlad Steiner, Origin: Sursee, Switzerland, Address: 8302 Kloten/ZH, Switzerland, joint power of attorney of two, Appointment: 24.03.2010

Member with procuration              Peter Müller, Origin: Rohrbach, Switzerland, Address: Wiesendangen, Switzerland, joint power of attorney of two

Member with procuration              Edda Walraf, Origin: Oberhelfenschwil, Switzerland, Address: Pfäffikon/ZH, Switzerland, joint power of attorney of two

Member with procuration              Björn Gunnar Johansson, Origin: Sweden, Address: 8400 Winterthur/ZH, Switzerland, joint power of attorney of two, Appointment: 30.11.2010

Member with procuration              Juan Gonzalez, Origin: Spain, Address: Dägerlen, Switzerland, joint power of attorney of two, Appointment: 30.11.2010

Member with procuration              Pascal von Gunten, Origin: Sigriswil, Switzerland, Address: 9000 St. Gallen/SG, Switzerland, joint power of attorney of two, Appointment: 10.08.2010

Member with procuration              Roland Kasper, Origin: Zetzwil, Switzerland, Address: Oberenfelden, Switzerland, joint power of attorney of two, Appointment: 18.06.2010

Member with procuration              Antonina Di Mario, Origin: Winterthur, Switzerland, Address: 8400 Winterthur/ZH, Switzerland, joint power of attorney of two, Appointment: 11.09.2009

Member with procuration              Peter Schär, Origin: Wyssachen, Switzerland, Address: Hombrechtikon, Switzerland, joint power of attorney of two, Appointment: 11.09.2009

Member with procuration              Marco Beutler, Origin: Altstätten, Switzerland, Address: Kilchberg /ZH, Switzerland, joint power of attorney of two, Appointment: 11.09.2009

Member with procuration              Roger Lörtscher, Origin: Oberwil im Simmental, Switzerland, Address: Elgg, Switzerland, joint power of attorney of two, Appointment: 29.01.2009

Member with procuration              Rolf Zimmermann, Origin: Elsau, Switzerland, Address: Schwerzenbach, Switzerland, joint power of attorney of two, Appointment: 29.01.2009

Member with procuration              Yves Birchmeier, Origin: Baar, Switzerland, Address: 8400 Winterthur/ZH, Switzerland, joint power of attorney of two

Member with procuration              Patric Lanner, Origin: Wallisellen, Switzerland, Address: Dietlikon, Switzerland, joint power of attorney of two

Member with procuration              Arne Thielemann, Origin: Germany, Address: Lengwil, Switzerland, joint power of attorney of two

Member with procuration              Marc Heim, Origin: Thun, Switzerland, Address: Nürensdorf, Switzerland, joint power of attorney of two, Appointment: 30.11.2010

Member with procuration              Heinz Schmid, Origin: Waltalingen, Switzerland, Address: Wil/SG, Switzerland, joint power of attorney of two, Appointment: 29.01.2009

Member with procuration              Nanette Susanne Haubensak, Origin: Germany, Address: 8001 Zürich/ZH, Switzerland, joint power of attorney of two, Appointment: 14.07.2010

Member with procuration              Antje Höppner, Origin: Winterthur, Switzerland, Address: 8302 Kloten/ZH, Switzerland, joint power of attorney of two, Appointment: 02.02.2010

Member with procuration              Peter Schulz, Origin: Germany, Address: Maxhütte-Haidhof, Germany, joint power of attorney of two, Appointment: 02.12.2009

Member with procuration              Andreas Zanini, Origin: Sarmenstorf, Switzerland, Address: Embrach, Switzerland, joint power of attorney of two

Member with procuration              Carsten Liske, Origin: Germany, Address: Freienbach , Switzerland, joint power of attorney of two, Appointment: 22.10.2009

Member with procuration              Rudolf Härdi, Origin: Schlossrued, Switzerland, Address: 5616 Meisterschwanden/AG, Switzerland, joint power of attorney of two, Appointment: 02.12.2009

 

 

Executive board

 

Title                                           Name

Chief Executive Officer                 Peter Gnägi

Chief Financial Officer                  Peter Müller

Chief Marketing Officer                 Edda Walraf

 

 

Financial Data Rieter Textile Systems

 

Consolidation:               consolidated (Segment)

Industry:                       Trade/Industry

 

Fiscal year end:                                     31.12.2009        31.12.2008        31.12.2007        31.12.2006        31.12.2005

Number of months:                                       12                    12                    12                    12                    12

Currency:                                                mil. CHF           mil. CHF           mil. CHF           mil. CHF           mil. CHF

 

Operating revenue                                            496.1              1'051.7             1'566.8              1'322.2             1'085.4

Operating result                                                -73.6                 -49.5                200.7                  92.7                 74.7

Capital                                                              85.0                  85.0                 85.0                  85.0                 85.0

Total assets                                                    498.7                669.3                954.9                849.0                834.1

Depreciation                                                      46.2                  52.6                 49.0                  43.4                 34.0

Investments in tangible fixed assets                      5.5                  53.2                 84.1                  56.1                 26.7

Orders received                                                510.8                539.5             1'703.1              1'614.3

 

Employees  at year end                                    4'086                4'741                5'476                5'219                5'422

Employees inland                                             1'000                1'250                1'339                1'338                1'450

Employees abroad                                            3'086                3'491                4'137                3'881                3'972

 

 

Financial Data Rieter Group

 

Consolidation:               consolidated

Industry:                       Trade/Industry

 

Fiscal year end:                                     31.12.2009        31.12.2008        31.12.2007        31.12.2006        31.12.2005

Number of months:                                       12                    12                    12                    12                    12

Currency:                                                 th. CHF             th. CHF            th. CHF             th. CHF            th. CHF

Statement norm:                                          IAS                   IAS                  IAS                   IAS                  IAS

 

Balance Sheet

Intangible fixed assets                                  23'000.0            30'200.0          156'600.0          161'000.0          198'200.0

Land and buildings                                     264'100.0          290'500.0          337'600.0          316'800.0          305'900.0

Other tangible fixed assets                          431'900.0          495'800.0          579'800.0          550'800.0          529'900.0

Tangible fixed assets                                  696'000.0          786'300.0          917'400.0          867'600.0          835'800.0

Financial fixed assets                                 164'000.0          107'900.0          105'900.0          111'900.0          115'000.0

other fixed assets                                          3'500.0              4'900.0            12'100.0            11'500.0            10'600.0

Fixed assets                                              886'500.0          929'300.0        1'192'000.0        1'152'000.0        1'159'600.0

Stocks                                                      266'000.0          361'300.0          510'000.0          483'000.0          426'000.0

Trade accounts receivable                           331'500.0          382'100.0          625'300.0          654'900.0          573'200.0

Liquid assets                                             217'700.0          282'600.0          257'500.0          298'400.0          198'500.0

Securities                                                    13'000.0              7'700.0          114'600.0          175'900.0          232'000.0

other trade accounts                                    92'400.0          125'900.0          148'000.0          120'400.0          125'400.0

Accruals                                                       7'000.0                   0.0

other current assets                                   330'100.0          416'200.0          520'100.0          594'700.0          555'900.0

Current assets                                           927'600.0        1'159'600.0        1'655'400.0        1'732'600.0        1'555'100.0

Total assets                                            1'814'100.0        2'088'900.0        2'847'400.0        2'884'600.0        2'714'700.0

 

Capital                                                        23'400.0            21'400.0            22'300.0            22'300.0            22'300.0

Other shareholders funds                            563'800.0          668'500.0        1'287'100.0        1'298'200.0        1'169'900.0

Total shareholders equity                            587'200.0          689'900.0        1'309'400.0        1'320'500.0        1'192'200.0

Minority interests                                         68'600.0            56'300.0            60'100.0            54'900.0            70'000.0

long term debt (financial debts)                    140'700.0          128'800.0            47'500.0            66'800.0          264'800.0

Provisions                                                  182'200.0          226'800.0          180'100.0          174'800.0          175'300.0

Other non current liabilities                           76'400.0            63'300.0            94'000.0            76'500.0            74'900.0

Non current liabilities                                  399'300.0          418'900.0          321'600.0          318'100.0          515'000.0

short term debt (financial debts)                    81'700.0          198'300.0          180'100.0          260'200.0            69'000.0

Trade accounts payable                              226'800.0          268'500.0          446'300.0          399'900.0          431'800.0

Provisions                                                  174'300.0          153'700.0

Accruals                                                    115'700.0          113'700.0          186'200.0          183'200.0          144'000.0

other accounts payable                               160'500.0          189'600.0          343'700.0          347'800.0          292'700.0

other current liabilities                                 450'500.0          457'000.0          529'900.0          531'000.0          436'700.0

Current liabilities                                        759'000.0          923'800.0        1'156'300.0        1'191'100.0          937'500.0

Shareh. equity, min. interests + liabilities   1'814'100.0        2'088'900.0        2'847'400.0        2'884'600.0        2'714'700.0

 

Profit and loss account

Sales                                                      1'956'300.0        3'142'500.0        3'930'100.0        3'579'900.0        3'160'000.0

Reduction of proceeds                                  73'600.0          130'600.0          147'200.0          145'200.0          112'300.0

Net sales                                                1'882'700.0        3'011'900.0        3'782'900.0        3'434'700.0        3'047'700.0

Other operating revenue                               -36'200.0           -40'200.0            39'900.0            12'800.0            25'900.0

Operating revenue                                    1'846'500.0        2'971'700.0        3'822'800.0        3'447'500.0        3'073'600.0

Cost of goods sold                                     885'100.0        1'440'800.0        1'843'800.0        1'606'100.0        1'372'300.0

Gross profit                                                961'400.0        1'530'900.0        1'979'000.0        1'841'400.0        1'701'300.0

Other operating expenses                         1'148'000.0        1'843'000.0        1'701'300.0        1'660'800.0        1'518'300.0

Operating result                                        -186'600.0         -312'100.0          277'700.0          180'600.0          183'000.0

Interest revenues                                           4'000.0              9'500.0             8'800.0              6'700.0             5'300.0

other financial revenues                                    700.0                500.0            46'800.0            58'300.0            38'500.0

Financial income                                           4'700.0            10'000.0            55'600.0            65'000.0            43'800.0

Interest expenses                                        27'600.0            21'100.0            16'200.0            20'500.0            19'900.0

other financial expenses                                 2'000.0            53'600.0            15'700.0                   0.0             1'300.0

Financial expenses                                      29'600.0            74'700.0            31'900.0            20'500.0            21'200.0

Financial result                                           -24'900.0           -64'700.0            23'700.0            44'500.0            22'600.0

Result before extraordinary items                -211'500.0         -376'800.0          301'400.0          225'100.0          205'600.0

Extraordinary expenses                                       0.0                   0.0                   0.0                   0.0                   0.0

Extraordinary Result                                            0.0                   0.0                   0.0                   0.0                   0.0

Result before taxes                                   -211'500.0         -376'800.0          301'400.0          225'100.0          205'600.0

Taxes                                                           6'000.0            19'900.0            89'900.0            67'700.0            67'500.0

Result before minority interests                  -217'500.0         -396'700.0          211'500.0          157'400.0          138'100.0

minority interests                                           6'400.0              9'200.0            14'300.0            10'000.0            11'200.0

Result for the financial year                        -223'900.0         -405'900.0          197'200.0          147'400.0          126'900.0

 

Cash flow

Depreciation                                              140'900.0          259'500.0          158'300.0          145'000.0          130'400.0

Cash flow                                                   -76'600.0         -137'200.0          369'800.0          302'400.0          268'500.0

Cash flow from operating activities                  -1'600.0            57'200.0          394'900.0          252'600.0          242'800.0

Investments in tangible fixed assets               61'700.0          140'900.0          203'500.0          186'200.0          182'300.0

Cash flow from investing activities                 -33'200.0           -35'800.0         -118'500.0           -84'900.0         -322'800.0

Cash flow from financing activities                 -27'800.0              8'800.0         -309'500.0           -67'500.0         -123'000.0

Others                                                         -2'300.0             -5'100.0            -7'800.0               -300.0            -4'100.0

Change in liquidity                                       -64'900.0            25'100.0           -40'900.0            99'900.0         -207'100.0

Liquidity at beginning of the year                  282'600.0          257'500.0          298'400.0          198'500.0          405'600.0

Liquidity at end ot the year                          217'700.0          282'600.0          257'500.0          298'400.0          198'500.0

 

Notes

Material costs                                            885'100.0        1'440'800.0        1'843'800.0        1'606'100.0        1'372'300.0

Cost of employees                                     693'000.0          938'200.0        1'064'000.0        1'011'700.0          942'500.0

Research and Development                           98'700.0          122'300.0          141'100.0          144'800.0          144'700.0

Orders received                                        1'935'100.0        2'561'600.0        4'066'400.0        3'793'500.0        3'233'600.0

Added value                                               650'000.0          842'000.0        1'539'900.0        1'402'300.0        1'298'400.0

Working Capital                                         370'700.0          474'900.0          689'000.0          738'000.0          567'400.0

Sales per Employee                                         147.5                212.4                244.0                231.7                208.0

Market capitalisation                                1'084'500.0          650'900.0        1'965'700.0        2'661'100.0        1'624'100.0

Gross cost land and buildings                     543'700.0          566'400.0          647'100.0          613'000.0          617'000.0

Gross cost other tangible fixed assets       1'774'200.0        1'764'100.0        1'957'400.0        1'873'200.0        1'821'500.0

Gross cost total                                       2'317'900.0        2'330'500.0        2'604'500.0        2'486'200.0        2'438'500.0

Insurance value total                                 1'353'400.0        1'337'900.0        1'451'100.0        1'328'300.0        1'298'100.0

 

Employees  at year end                                  12'761               14'183              15'506               14'826              14'652

Employees inland                                             1'660                1'750                1'825                1'811                1'910

Employees abroad                                          11'101               12'433              13'681               13'015              12'742

 

 

Ultimate Parent Company

 

Name:                          Rieter Holding AG

City/Country:                 Winterthur, Switzerland/CH

 

 

Owner/-s

 

No. of Owner/-s:            1

Owner:                         The company is domestic owned.

 

Class:                          100%

Name:                          Rieter Holding AG

City/Country:                 Winterthur, Switzerland/CH

Interest:                        100.00% voting right, 100.00% capital interest

 

 

Investments

 

It is believed that the company has no investments.

 

 

Legal Actions

 

An updated legal action check is only available against proof of interest. e.g. a copy of an enquiry letter, and order or invoice relating to the subject company.

 

 

Credit Information

 

Financial Situation:        The financial situation is good.

 

Payment experiences:   Payments are made with arranged conditions.

 

Business development:  The business experienced a slight decrease in activities.

 

Maximum Credit:           CHF 1'500'000

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.50

UK Pound

1

Rs.73.07

Euro

1

Rs.61.63

 

 

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

 

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%)

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.