MIRA INFORM
REPORT
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Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
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Name : |
MYUNG MOON PHARM. CO., LTD. |
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Formerly Known As : |
MYUNG MOON PHARM. INDUSTRIAL CO. |
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Registered Office : |
901-1, Sangsin-ri, Hyangnam-eup, Hwaseong-si, |
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Country : |
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Financials (as on) : |
30.09.2010 |
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Date of Incorporation : |
08.07.1986 |
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Com. Reg. No.: |
124-81-35615 |
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Legal Form : |
Listed Company |
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Line of Business : |
Manufacturer of Pharmaceutical Goods Other Than Medicaments |
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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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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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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a1 |
a1 |
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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 |
Basic
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Company
Name |
MYUNG MOON
PHARM. CO., LTD. (Korean Company
Name : “명문제약(주)”) |
|
Registered Address |
901-1, Sangsin-ri, Hyangnam-eup,
Hwaseong-si, |
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Zip Code |
445-937 |
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Tel |
+82-31-350-4000 +82-31-353-3519 |
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Fax |
+82-31-353-7111 |
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E-mail |
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|
Website |
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Trading Address |
Myung Moon
Bldg., 946-18, Dogok-dong, Gangnam-gu, |
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Tel |
+82-2-553-5805 +82-2-6711-2000 |
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Fax |
+82-2-572-5137 |
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Other Address-Incheon Branch |
Rm.601, 534-2, Sang-dong, Wonmi-gu,
Bucheon-si, |
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Tel |
+82-32-547-4178 |
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Fax |
+82-32-547-0136 |
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Other Address-Gyeonggi Branch |
6FL., ASK Bldg., 975-11, Yeongtong-dong,
Yeongtong-gu, Suwon-si, Gyeonggi-do, |
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Tel |
+82-31-202-4914~7 |
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Fax |
+82-31-202-4857 |
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Type |
Export/Import |
|
Industry |
Manufacture of Pharmaceutical Goods Other Than Medicaments |
|
Established (mm/dd/yyyy) |
07/08/1986 |
The Subject owns
the premises of registered HQ address and trading address.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Antibiotics(51101500) |
|
Sell |
Antispasmodics(51172100) |
|
Sell |
Drugs used for gallbladder disease(51172000) |
|
Sell |
Cough and cold and antiallergy
products(51161800) |
|
Sell |
Thrombolytic drugs and platelet aggregation
inhibitors(51131700) |
|
Sell |
Gonadotropic hormones and ovarian stimulants
and inhibitors(51181900) |
|
Sell |
Antiulcer and related gastrointestinal GI
drugs(51171900) |
CEO’s
|
Name |
Lee Kyu-Huok |
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Address |
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Date of Birth |
10/05/1949 |
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Title |
Chairman & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
5,500,000,000 |
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Employees |
441 |
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Formation |
Listed Company ( |
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Bank Details |
Industrial Bank of Korea-Gangnam Branch Korea Exchange Bank Hana Bank |
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Corporate Registered No. |
134111-0013180 |
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Business Registered No. |
124-81-35615 |
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Permit & Licenses |
Patent - A process for solubilizing aceclofenac (Registration No. 10-069154,
2006.11.16) - Novel Intermediate Compound for Valsartan and Preparation Process of
Valsartan Using thereof (Open 10-2006-85073, 2006. 7. 26) - Process for Manufacturing of Glimepiride (Open 10-2005-17776,
2005.2.23) - Novel Intermediate Compound for Amlodipine Besylate and Preparation
Process of Amlodipine Besylate Using thereof (Open 10-2005-122481, 2005. 12.
29) - Preparation Process of Lacidipine (Application 10-2006-31654, 2006.
4. 6) - Novel Intermediate Compound for Preparing Amlodipine, its
Preparation - Process and Preparation Process of Amlodipine Using it (Application
10-2006-103049, 2006. 10. 23) Int’l Trade No.: 592611 |
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Shareholder Position |
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Company History |
09/01/1983 Incorporated as MYUNG MOON PHARM. INDUSTRIAL CO. 07/08/1980 Incorporated as the present name 04/20/1988 Moved to the present HQ address
from Kwanyang-dong, 05/01/2007 Spin off the par value to 500 KRW
from 5,000 KRW 06/26/2008 Designated as an INNO-BIZ Company |
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Management
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Job Description |
Title |
Name |
Nationality |
Date of Birth |
Education/Career |
|
Chairman & CEO |
Mr. |
Lee Kyu-Huok |
Korean |
1949.10.05 |
|
|
President & CEO |
Mr. |
Woo Seok-Min |
Korean |
1968.03.26 |
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Executive Director |
Mr. |
Kim Hong-Nyeon |
Korean |
1961.12.17 |
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Outside Director |
Mr. |
Shin Seok-Woo |
Korean |
1962.02.08 |
-CEO of Human Pharm Co., Ltd. -Glaxowellcome Asia Pacific |
|
Outside Director |
Mr. |
Jung Yong-Jin |
Korean |
1959.02.16 |
|
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
76,187,125,108 |
124,437,196,397 |
4,410,486,991 |
|
|
2009 |
92,246,558,947 |
117,479,467,493 |
2,940,980,537 |
|
2008 |
77,390,429,527 |
97,456,771,754 |
4,863,328,968 |
|
2007 |
60,927,940,077 |
59,369,319,393 |
6,583,194,839 |
|
2006 |
47,862,609,855 |
43,501,511,091 |
5,105,209,568 |
|
2005 |
40,345,904,690 |
35,675,186,707 |
4,387,839,760 |
|
2004 |
33,248,158,389 |
27,437,995,737 |
3,207,108,831 |
Financial Description
|
Authorized Capital(KRW) |
50,000,000,000 |
|
Paid-Up Capital(KRW) |
5,500,000,000 |
|
Total Issues Shares |
11,000,000 |
Balance Sheet
|
Unit : Korean Won |
01/01/2010~09/30/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
124,437,196,397 |
117,479,467,493 |
97,456,771,754 |
|
Current Assets |
77,113,470,510 |
65,022,374,147 |
57,289,978,143 |
|
-Quick Assets |
66,226,500,497 |
53,189,980,057 |
48,503,827,213 |
|
-Inventories |
10,886,970,013 |
11,832,394,090 |
8,786,150,930 |
|
Fixed Assets |
47,323,725,887 |
52,457,093,346 |
40,166,793,611 |
|
-Investment |
17,898,984,836 |
22,796,329,225 |
9,105,587,316 |
|
-Tangibles |
28,147,947,175 |
28,287,246,862 |
29,498,375,544 |
|
-Intangibles |
844,736,246 |
904,417,629 |
1,101,677,121 |
|
-Others |
432,057,630 |
469,099,630 |
461,153,630 |
|
Total Liabilities |
61,764,330,100 |
58,906,870,413 |
41,533,201,377 |
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Current Liabilities |
51,116,675,732 |
45,796,723,393 |
19,254,255,928 |
|
Fixed Liabilities |
10,647,654,368 |
13,110,147,020 |
22,278,945,449 |
|
Capital Stock |
5,500,000,000 |
5,293,589,500 |
5,100,000,000 |
|
Capital Surplus |
15,904,989,020 |
15,904,989,020 |
15,904,989,020 |
|
Profit Surplus |
30,896,829,881 |
27,092,968,310 |
24,829,551,273 |
|
Capital Adjustment |
10,371,047,396 |
10,281,050,250 |
10,089,030,084 |
|
Total Equity |
62,672,866,297 |
58,572,597,080 |
55,923,570,377 |
|
Liab. & Shareholder’s Equity |
124,437,196,397 |
117,479,467,493 |
97,456,771,754 |
|
Current
Liabilities |
51,116,675,732 |
45,796,723,393 |
19,254,255,928 |
|
Trade Payables |
7,996,785,248 |
7,244,435,264 |
5,811,818,948 |
|
Short-Term Borrowings |
25,760,000,000 |
25,760,000,000 |
3,000,000,000 |
|
Account Payables |
5,831,668 |
2,135,020,909 |
3,076,343,174 |
|
Accrued Expenses |
4,420,713,786 |
1,724,830,822 |
1,700,796,708 |
|
Advance Receipts |
40,460,835 |
28,300,435 |
35,106,635 |
|
Withholdings |
263,239,147 |
171,686,317 |
201,113,068 |
|
VAT Withhold |
1,650,720,060 |
1,518,687,342 |
1,383,872,542 |
|
Accrued Income Tax |
833,923,665 |
295,366,096 |
498,193,504 |
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Current Portion of Long-Term
Debts |
8,105,733,410 |
5,120,379,170 |
2,079,918,730 |
|
Provision for Refund |
2,039,267,913 |
1,798,017,038 |
1,467,092,619 |
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Fixed
Liabilities |
10,647,654,368 |
13,110,147,020 |
22,278,945,449 |
|
Long-Term Borrowings |
3,548,157,840 |
6,611,252,470 |
15,631,631,640 |
|
Provision for Severance &
Retirement |
6,048,287,550 |
5,138,115,420 |
4,530,034,180 |
|
Leasehold Deposit Received |
50,000,000 |
50,000,000 |
50,000,000 |
|
Guarantee Deposit Withhold |
918,544,236 |
954,542,370 |
484,550,000 |
|
Deferred Income Tax Credit |
2,521,931,188 |
2,870,941,773 |
2,760,494,699 |
Income Statement
|
Unit : Korean Won |
01/01/2010~09/30/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
76,187,125,108 |
92,246,558,947 |
77,390,429,527 |
|
Cost of Sold Goods |
36,366,290,419 |
42,977,359,037 |
31,753,248,015 |
|
Gross Profit |
39,820,834,689 |
49,269,199,910 |
45,637,181,512 |
|
Selling & Admin. Expenses |
32,456,310,172 |
43,855,771,505 |
37,759,195,341 |
|
Operating Income |
7,364,524,517 |
5,413,428,405 |
7,877,986,171 |
|
Non-Operating Income |
1,209,646,767 |
1,137,551,985 |
913,035,005 |
|
Non-Operating Expenses |
3,480,218,285 |
3,239,682,618 |
2,944,250,835 |
|
Ordinary Income |
5,093,952,999 |
3,311,297,772 |
5,846,770,341 |
|
Special Income |
- |
- |
- |
|
Income Before Taxes |
5,093,952,999 |
3,311,297,772 |
5,846,770,341 |
|
Income Taxes Expenses |
683,466,008 |
370,317,235 |
983,441,373 |
|
Net Income |
4,410,486,991 |
2,940,980,537 |
4,863,328,968 |
Cash Flows
|
Unit : Korean Won |
01/01/2010~09/30/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Cash Flows from Operating |
4,521,901,616 |
-4,769,435,048 |
-1,718,671,501 |
|
-Net Income |
4,410,486,991 |
2,940,980,537 |
4,863,328,968 |
|
-Exp. without Cash Outflow |
4,919,775,420 |
6,427,798,783 |
7,531,559,276 |
|
-Revenue without Cash Inflows |
-382,712,554 |
-390,586,774 |
-554,654,833 |
|
-Changes in Asset/ & Liability |
-4,425,648,241 |
-13,747,627,594 |
-13,558,904,912 |
|
Cash Flows from Investing |
-5,634,962,622 |
-14,929,667,998 |
-5,039,123,960 |
|
-Cash Inflow from Investing |
9,691,738,776 |
6,918,673,091 |
1,787,831,727 |
|
-Cash Outflows for Investing |
-15,326,701,398 |
-21,848,341,089 |
-6,826,955,687 |
|
Cash Flows from Financing |
-271,078,964 |
16,107,737,134 |
14,146,978,610 |
|
-Cash Inflows from Financing |
1,710,000,000 |
26,860,000,000 |
24,987,649,020 |
|
-Cash Outflows from Financing |
-1,981,078,964 |
-10,752,262,866 |
-10,840,670,410 |
|
Increase/Decrease in Cash |
-1,384,139,970 |
-3,591,365,912 |
7,389,183,149 |
|
Cash at the Beginning of Year |
4,115,722,883 |
7,707,088,795 |
317,905,646 |
|
Cash at the End of Year |
2,731,582,913 |
4,115,722,883 |
7,707,088,795 |
Products, Technologies, Services Description
|
Main Products & Services |
Manufacture, wholesale, export and import
of pharmaceuticals Selling of chemicals (with exception of a
poison and chemical class) A wholesale business of non-pharmaceuticals The publication of a document definite
promise about sale and delivery Division of labor of pharmaceuticals The business articles of food (health food) All the business attached to each an item ETC Anesthetic agent Analgesic agent Circulatory sys Anti-depressants Digestive sys Respiratory sys Hormone Dermatology/Uroloy Muscle relaxant Antibiotics Narcotics Anti rheumarthritis Anti osteoarthritis Anti-diabetics Anti inflammatory enzymes Anti-osteoporosis Anti-epileptics steroids appetite suppressant OTC Eye nutrition Antinausant Hepatics Immunologics Antidiarrheal agent Skin external preparation Digestive sys Calcium Cold drugs Cathartic Antiallergic agent Muscle relaxant Parasiticide Health supplement Genitourinary sys. Antidiarrheal agent |
Trade Partners & Competitors
|
Suppliers |
TRB CHEMEDICA INTERNATIONAL SA. ISHIMOTO BIO CHEMICAL LAB. PROTHERICS INC. CKD BIO CO., LTD.(110111-2373308) DAE HE CHAMICAL CO., LTD.(134511-0005767) |
|
Customers |
CLARIS |
|
Competitors |
DAEWOONG
PHARMACEUTICAL CO., LTD.(134811-0075342) SHINPOONG PHARMACEUTICAL CO.,LTD.(130111-0011815) BOEHRINGER INGELHEIM KOREA LTD.(110111-0359342) SAMJIN PHARMACEUTICAL CO., LTD.(110111-0088652) DONGWHA PHARM IND CO., LTD.(110111-0043870) DONGA PHARMACEUTICAL
CO.,LTD.(110111-0017990) YUHAN CORPORATION(110111-0014409) HANMI PHAM CO., LTD.(134811-0003187) GREEN CROSS CORPORATION(110111-0109854) CHOONGWAE PHARMA CORP.(110111-0019342) |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
MYUNGJI PHARMACEUTICALS CO., LTD.(110111-0541036) (100.0% held by the subject company) MYUNGMOON INVESTMENT DEVELOPMENT CO., LTD.(134411-0040301) (59.7% held by the subject company) BIO R&D CO., LTD.( (23.0% held by the subject company) |
|
Subsidiary |
MYUNGJI PHARMACEUTICALS CO.,
LTD.(110111-0541036) (100.0% held by the subject company) |
|
Cooperative |
-Licensed with; TRANS BUSSAN S.A CLARIS-INDIA MACROMED-USA -Insured Company SAMSUNG FIRE & MARINE INSURANCE CO., LTD(110111-0005078) HANWHA NON-LIFE INSURANCE CO., LTD.(110111-0006456) DONGBU INSURANCE CO., LTD.(110111-0095285) -Collaborated R&D with MEDICHEM KOREA CO., LTD.(135811-0158543) |
Sales by Region
(Activity &
Markets)
|
Sales/ Unit
:Thousand KRW |
09/2010 |
2009 |
2008 |
|
Export |
614,512 |
1,003,990 |
761,410 |
|
Domestic |
75,572,613 |
91,242,569 |
76,629,019 |
|
Total |
76,187,125 |
92,246,559 |
77,390,429 |
The Subject deals
with the companies in
Court Action
|
Case No. |
Court |
Plaintiff(s)/
Creditor(s)/ Applicant(s) |
Defendant(s)/
Debtor(s)/ Respondent(s) |
Cause |
Amount (Million KRW) |
Status |
|
2007HUR3707 |
- |
Organon Korea Ltd.(110111-1538672) |
The Subject Company |
Related to nullify of the patent right |
- |
The Subject won at 2nd round, and 3rd round is
proceeding. |
|
2007GAHAP78871 |
- |
Organon Korea Ltd.(110111-1538672) |
The Subject Company |
Claim for infringement of the patent |
- |
Proceeding |
News Clipping
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.30 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
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.