MIRA
INFORM REPORT
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Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
BRIGHT FUTURE PHARMACEUTICAL LABORATORIES LTD. |
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Registered Office : |
Bright Future Pharmaceutical Centre, 8 Wang Fu Street, Yuen Long
Industrial Estate, Yuen Long, New Territories |
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Country : |
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Date of Incorporation : |
02.09.1993 |
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Com. Reg. No.: |
17347013 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturer, Importer, Exporter and Wholesaler of all kinds of
pharmaceutical products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Exists |
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
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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A2 |
A2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
BRIGHT FUTURE
PHARMACEUTICAL LABORATORIES LTD.
(Trading as BRIGHT FUTURE PHARMACEUTICALS FACTORY)
company ADDRESS
Bright Future Pharmaceutical Centre, 8 Wang Fu Street, Yuen Long
Industrial Estate, Yuen Long, New Territories, Hong Kong.
PHONE: 2675 0230
FAX: 2675 9328
E-MAIL: info@brightfuture.com.hk
MANAGEMENT
Director & Manager: Mr. Wong
Cheong Moon, Simon
SUMMARY
Incorporated on: 2nd
September, 1993.
Organization: Private
Limited Company.
Capital: Nominal: HK$100,000,000.00
Issued: HK$81,029,127.00
Business Category: Pharmaceutical Manufacturer.
Annual Turnover: Over
US$100 million.
Employees:
115. (Including 20 office staff in
Main Dealing Bankers: Bank of
The Hongkong & Shanghai Banking Corp. Ltd.,
Banking Relation: Good.
company ADDRESS
Registered Head
Office & Factory:-
Bright Future Pharmaceutical Centre, 8 Wang Fu Street, Yuen Long Industrial
Estate, Yuen Long, New Territories, Hong Kong.
Beijing
Representative Office
Fuli
Building A 805, 59 Dongsanhuan Central Road, Chaoyang District, Beijing, China.
Zip Code: 100022
Tel: (86-10) 6803 5515, 6800 0010
Fax: (86-10) 6802 4937
E-mail: bjhr@hkbf.com.cn
Shanghai
Representative Office
Room
1905,
Zip Code: 200120
Tel: (86-21) 6329 4485, 6329 4641,
6329 3947
Fax: (86-21) 6329 3104
E-mail: shhr@hkbf.com.cn
Guangzhou
Representative Office
Room
1510,
Zip Code: 510060
Tel: (86-20) 3821 0536, 3821 0538
Fax: (86-20) 3821 0080
E-mail: gzhr@hkbf.com.cn
Hainan Bright Future Pharmaceutical Co. Ltd.
4-2
Trading as:-
Bright Future Pharmaceuticals Factory,
Affiliated Companies:-
BF Suma Pharmaceuticals Inc.,
Hong Kong Hong Yan Tong Pharmaceutical Ltd.,
BUSINESS REGISTRATION NUMBER
17347013
COMPANY FILE NUMBER
447798
MANAGEMENT
Director & Manager: Mr. Wong
Cheong Moon, Simon
CAPITAL
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$81,029,127.00
SHAREHOLDERS
(As per registry
dated 02-09-2009)
|
Name |
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No. of shares |
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CHAN Chak Yeung |
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52,668,933 |
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WONG Cheong Moon |
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28,360,194 |
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––––––––– |
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Total: |
81,029,127 ======== |
DIRECTORS
(As per registry
dated 02-09-2009)
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Name (Nationality) |
Address |
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CHAN Chak Yeung (Chinese) |
House No. B29, |
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WONG Cheong Moon (British) |
House No. 7, Geranium Path, Phase 1D, |
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ZHANG Zhiyan |
House Type D2, 46 Kapok Path, |
SECRETARY
(As per registry
dated 02-09-2009)
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Name |
Address |
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GDL Secretarial Ltd. |
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193435 |
HISTORY
The subject was incorporated on 2nd September, 1993 as a private limited
liability company under the Hong Kong Companies Ordinance.
The subject’s office and factory were originally situated at Unit 6-10,
5/F., Raleigh Centre, On Lok Tsuen, 9 Yip Cheong Street, Fanling,
New Territories, Hong Kong. In
March 1997, moved to Room 4 & 5, 4/F., Festigood Centre, 8 Lok Yip Road, On
Lok Tsuen, Fanling, New Territories, Hong Kong.
The office and factory were relocated at the present address in January
2000.
Apart from these, neither material change nor amendment has been ever
traced and noted.
OPERATIONS
Activities: Manufacturer,
Importer, Exporter and Wholesaler.
Lines: All
kinds of pharmaceutical products.
Site Area:
3,000 sq.m.
Total Gross Floor Area: Approx. 81,000 sq.ft.
Employees: 115. (Including 20 office staff in
1,000. (
Commodities Imported: Mainly imports production equipment from the
Markets:
Annual Turnover: Over
US$100 million.
Terms/Sales:
Cash or as per
contracted.
Terms/Buying: L/C, T/T, D/P,
etc.
MEMBERSHIP
Federation of
FINANCIAL INFORMATION
Nominal Share Capital: HK$100,000,000.00 (Divided into 100,000,000
shares of HK$1.00 each)
Issued Share Capital: HK$81,029,127.00
Alternation
of Capital:-
|
Initially |
paid up |
HK$ 10,000.00 |
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07-02-2007 |
paid up |
HK$ 81,019,127.00 |
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–––––––––––––––– |
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Total: |
paid up |
HK$ 81,029,127.00 ============== |
Increase
of Nominal Capital:-
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From |
HK$10,000.00 |
to |
HK$100,000,000.00 |
on |
07-02-2007 |
Indebtedness: HK$80,720,549.00 (Total amount outstanding on all mortgages and
charges as per last
Annual Return dated 02-09-2009)
Mortgage or Charge (since 30-11-2009): (See attachment)
Profit & Loss: Business is profitable.
Condition: Keeping
in an active manner.
Facilities: Making
active use of general banking facilities.
Payment:
Met trade
commitments on time.
Commercial Morality: Satisfactory.
Bankers:-
·
Bank of
·
The Hongkong & Shanghai Banking Corp. Ltd.,
· Citibank N.A., Hong Kong Branch.
·
DBS Bank (Hong Kong) Ltd.,
·
China Construction Bank (Asia) Corporation Ltd.,
·
Standard Chartered Bank (Hong Kong) Ltd.,
· Bank of Communications Co. Ltd., Hong Kong Branch.
·
Nanyang Commercial Bank Ltd.,
Standing:
GENERAL
Bright Future Pharmaceutical Laboratories Ltd., incorporated in
September 1993, formerly was a wholly-owned subsidiary of Bright Future
Pharmaceutical Holdings Ltd. which is a BVI-registered firm. The business name of the subject is Bright
Future Pharmaceuticals Factory.
At the very beginning, the subject just issued 10,000 ordinary shares of
HK$1.00 each and in February 2007, increased to 81,029,127 shares of the same
value. However, the holding company was
unchanged at that time. On 30th March,
2009, the holding company transferred its shares to Mr. Chan Chak Yeung and Mr.
Wong Cheong Moon. Currently, the former
is holding 65% interests, while the latter, holding 35%.
The directors of the subjects are Mr. Chan Chak Yeung, Mr. Wong Cheong Moon
and Mr. Zhang Zhiyan. The third who is a
The subject is a pharmaceutical factory engaged in manufacturing various
kinds of pharmaceutical products.
Formerly located at Fanling, the subject and its factory moved to Yuen
Long Industrial Estate, Yuen Long,
The subject’s products are in conformity with the World Hygiene
Organization [WHO] standards and GMP.
Its production equipment is fully‑automatic with advanced
technology and mostly were imported from
The subject is the first pharmaceutical firm in
The subject is also the sole local manufacturer authorised by the
Hospital Authority of Hong Kong to supply antibiotics to hospitals in
The subject’s factory is supported by a team of professionals handling
all of its activities such as the technical support, research and development,
production and the sales of products.
The subject has a wide range of different dosage form products including
capsules, tablets, SR pellets, oral liquid, etc. Significant products are Amoxycillin 250 mg
Capsules, Ambroxol 75 mg SR Capsules, Diclofenac CR Capsules, Cofetal Syrup,
Red Bamboo Pills, Depile Capsules, Lotuscin, Caplets, Cutagesic Cream, Hong Zhu
Hai Gou Wan and Wei Shuning Granules.
Currently, the subject is manufacturing the
following pharmaceuticals and products and offering clients with the following
services:-
|
Product/Service |
Product/Service Remarks |
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Healthcare Product |
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Healthcare Product – Non-Electrical |
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Pharmaceutical and Medicine |
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Pharmaceutical Preparation |
Syrup and suspension-pharmaceutical with GMP standard (Manufacturer) Syrup and suspension-pharmaceutical with GMP standard (Exporter) |
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Tablet and Capsule – Pharmaceutical |
Antibiotic Capsules, Sustain Released Analgesics and Cold and Flu
Preparations (Manufacturer) Antibiotic Capsules, Sustain Released Analgesics and Cold and Flu
Preparations (Exporter) |
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Ointment – Pharmaceutical |
External Preparations (Cream and Ointment) (Manufacturer) External Preparations (Cream and Ointment) (Exporter) |
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Chinese Medicine |
Herbal Medicines (Depile Hemorrhoids Relief Capsules and Red Bamboo
Pills) with GMP standard (Manufacturer) Herbal Medicines (Depile Hemorrhoids Relief Capsules and Red Bamboo
Pills) with GMP standard (Exporter) |
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Medicinal Herbs and Dietary Supplement Products |
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Slim Food |
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Medicinal Herbs |
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Health Food |
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The subject’s products bear the following brand names:-
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Brand Name (Brand Owner) |
Brand Product/Service |
Brand Remarks |
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English name not available |
Chinese Medicine |
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English name not available |
Tablet and Capsule – Pharmaceutical |
Antibiotic capsule |
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English name not available |
Pharmaceutical Preparation |
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Yi Ke Jing |
Tablet and Capsule – Pharmaceutical |
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Red Bamboo |
Pharmaceutical Preparation |
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The subject’s main sales network covers
The subject has already set up a factory in
On the whole, consider the subject good for normal business engagements.
Credit Limit: The Maximum Credit Limit is US$600,000 D/A
REMARKS
Court case
record:-
|
Action Date |
Case No. |
Plaintiff |
Defendant |
Cause |
Amount |
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Mar. 1996 |
H2751 |
Cheng Yau Chun trading as O K (International) Trading Co. |
Bright Future Pharmaceutical Laboratories Ltd., Chan Chak Yeung and
Wong Cheong Moon |
Injunction |
Not stated |
Property information of
the company:-
1. Property Location: 1/F. of House No. A1, Ting Fook
Villas, Yuen Long, New Territories,
Owner: Bright Future Pharmaceutical Laboratories Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
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Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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04-01-2010 |
- |
Nanyang Commercial Bank Ltd., |
Mortgage to secure general banking facilities |
2. Property Location: 1/F. of House No. B36, Ting Fook
Villas, Yuen Long, New Territories,
Owner: Bright Future Pharmaceutical Laboratories Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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20-01-2010 |
- |
Nanyang Commercial Bank Ltd., |
Mortgage to secure general banking facilities |
3. Property Location: 1/F. of House No. E1, Ting Fook Villas,
Yuen Long, New Territories,
Owner: Bright Future Pharmaceutical Laboratories Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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30-11-2009 |
- |
Nanyang Commercial Bank Ltd., |
Mortgage to secure general banking facilities |
4. Property Location: G/F. of Lot No. 1587 in Darmacation
District 115, Yuen Long, New Territories, Hong Kong.
Owner: Bright Future Pharmaceutical Laboratories Ltd.
Date of Purchase: n.a.
Purchased Price: n.a.
Incumbrances:-
|
Date of Mortgage |
Amount Consideration |
Mortgagee |
Nature |
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08-01-2010 |
- |
Nanyang Commercial Bank Ltd., |
Mortgage to secure general banking facilities |
MORTGAGE OR CHARGE
(Since 30-11-2009)
|
Date |
Particulars |
Amount |
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30-11-2009 |
Instrument: Mortgage Property: 1/3rd part or share of and in Section A of Mortgagee: Nanyang Commercial Bank Ltd., |
To secure all monies in respect of general banking facilities |
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07-12-2009 |
Instrument: Deposit Deed Property: By way of a first fixed charge and as a continuing security for the
Obligations, the Company charges and assigns absolutely all its rights, title
to and interest in the Accounts and all Deposits Mortgagee: Citibank N.A., Hong Kong Branch. |
All moneys |
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04-01-2010 |
Instrument: Mortgage Property: 1/3rd part or share of and in Subsection 1 of Section A of Lot No.
1305 in Darmacation District 123 (1/F. of House No. A1 of Ting Fook Villas,
Yuen Long, New Territories, Mortgagee: Nanyang Commercial Bank Ltd., |
To secure all monies in respect of general banking facilities |
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08-01-2010 |
Instrument: Mortgage Property: 1/3rd part or share of and in Lot No. 1587 in Darmacation District 115
(G/F. of Lot No. 1587 in Darmacation District 115, Yuen Long,
New Territories, Hong Kong.) Mortgagee: Nanyang Commercial Bank Ltd., |
To secure all monies in respect of general banking facilities |
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20-01-2010 |
Instrument: Mortgage Property: 1/3rd part or share of and in Subsection 33 of Section B of Lot No.
1305 in Darmacation District 123 (1/F. of House No. B36 of Ting Fook Villas,
Yuen Long, New Territories, Mortgagee: Nanyang Commercial Bank Ltd., |
To secure all monies in respect of general banking facilities |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.30 |
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|
1 |
Rs.71.73 |
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Euro |
1 |
Rs.60.40 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.