MIRA
INFORM REPORT
|
Report Date : |
18.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
SABECO-SONG LAM PACKAGING JOINT STOCK COMPANY |
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|
Registered Office : |
No. 3 Tran Phu Street Le Mao Ward - Vinh City - Nghe An Province - Vietnam |
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Country : |
Viet Nam |
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|
Financials (as on) : |
31.12.2009 |
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Year of Establishment : |
2007 |
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Com. Reg. No.: |
2900788281 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Currently, the subject specializes in manufacturing metal bottle and carton packaging products. |
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 |
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Payment Behaviour : |
Unknown |
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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) |
|
Viet Nam |
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 |
|
SABECO-SONG LAM PACKAGING JOINT STOCK
COMPANY |
|
Vietnamese Name |
|
CONG TY CP BAO BI SABECO - SONGLAM |
|
Type of Business |
|
Joint stock company |
|
Year Established |
|
2007 |
|
Business Registration No. |
|
2900788281 |
|
Date of Registration |
|
20 Oct 2010 |
|
Place of Registration |
|
Nghe An Department of Planning and
Investment |
|
Current registered capital |
|
300,000,000,000 VND |
|
Status |
|
Unlisted |
|
Tax code |
|
2900788281 |
|
Total Employees |
|
250 |
Historical Identification & Legal form
|
List |
Changed Items |
Date of changes |
|
1 |
Subject has got former Registered capital:
240,000,000,000 VND Changed to: 300,000,000,000 VND |
20 Oct
2010 |
|
2 |
Subject has got former Business
registration: 2703001091 issued on 04 Jan 2007, Changed to 2900788282 (same
to the tax code number) |
20
Oct 2010 |
|
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ADDRESSES
|
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Head Office |
||
|
Address |
|
D1 Street, Bac Vinh Industrial Zone - Vinh
City - Nghe An Province - Vietnam |
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Telephone |
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(84-38) 3514752 |
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Fax |
|
(84-38) 3514750 |
|
|
||
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Registration
Address |
||
|
Address |
|
No. 3 Tran Phu Street Le Mao Ward - Vinh City
- Nghe An Province - Vietnam |
|
|
||
|
Branch in Ho Chi
Minh |
||
|
Address |
|
No. 12 Dong Du Ben Nghe Ward - 1 District
- Ho Chi Minh City - Vietnam |
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Notes: Business Code No. 2900788281 |
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DIRECTORS
|
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|
1.
NAME |
|
Mr.
VAN THANH LIEM |
|
Position |
|
Chairman |
|
Date of Birth |
|
07 Jul 1950 |
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ID Number/Passport |
|
022643646 |
|
ID Issue Date |
|
06 Oct 2000 |
|
ID Issue Place |
|
Police Station of
Hochiminh City |
|
Resident |
|
No. 450/2 Tran Hung Dao
Street Ward 02 - 5 District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
|
||
|
2.
NAME |
|
Mr.
TRAN ANH TIEN |
|
Position |
|
General Director |
|
Date of Birth |
|
13 Apr 1960 |
|
ID Number/Passport |
|
023024221 |
|
ID Issue Place |
|
Police Station of
Hochiminh City |
|
Resident |
|
No.719, An Loi Dong
Ward Tran Nao Str - 2 District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Qualification |
|
Management |
|
|
||
|
3.
NAME |
|
Mr.
NGO XUAN HOA |
|
Position |
|
Deputy General Director |
|
Nationality |
|
Vietnamese |
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|
||
|
4.
NAME |
|
Mr.
VAN THAO NGUYEN |
|
Position |
|
Deputy General Director |
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Nationality |
|
Vietnamese |
|
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BUSINESS NATURE AND ACTIVITIES
|
|
|
Currently,
the subject specializes in manufacturing metal bottle and carton packaging
products. |
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|
IMPORT & EXPORT ACTIVITIES
|
|
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IMPORT: |
||
|
·
Types of products |
|
Machinery, Aluminum |
|
·
Market |
|
China, England |
|
·
Ratio |
|
N/A |
|
·
Mode of payment |
|
L/C, T/T |
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EXPORT: |
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·
Market |
|
N/A |
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BANKERS
|
|
||
|
1.
VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE NGHE AN BRANCH |
||
|
Address |
|
No.7 Nguyen Sy Sach str - Vinh City - Nghe An Province - Vietnam |
|
Telephone |
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(84-38) 3842797 |
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|
||
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2.
VIET NAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE HOCHIMINH CITY
BRANCH |
||
|
Address |
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No.134 Nguyen Cong Tru - 1 District - Ho Chi Minh City - Vietnam |
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Telephone |
|
(84-8) 38216 827 |
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Fax |
|
(84-8) 3829 8862 |
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|
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SHAREHOLDERS
|
|
||
Following
are foundation shareholders:
|
||
|
1.
NAME |
|
SAI
GON BEER-ALCOHOL AND BEVERAGE JOINT STOCK CORPORATION |
|
Business Registration |
|
4103010027 |
|
Date of Registration |
|
17 Apr 2008 |
|
Place of Registration |
|
Planning and Investment Department of Hochiminh City |
|
Registered Capital |
|
6,412,811,860,000 VND |
|
Tax code |
|
0300583659 |
|
Address |
|
6 Hai Ba Trung Str, Ben Nghe Ward - 1
District - Ho Chi Minh City - Vietnam |
|
Tel |
|
(84-8) 3829 4083 , 3829 3441 , 3825 6821 ,
3824 6156 , 3823 5234 , 3829 6341 |
|
Fax |
|
(84-8) 3829 6856 |
|
Number of shares |
|
4,800,000 |
|
Value of shares |
|
48,000,000,000 VND |
|
Percentage |
|
16% |
|
|
||
|
2.
NAME |
|
POLYTECHNICAL
MECHANICAL, THERMAL, ELECTRICAL AND REFRIGERATION ENGINEER COMPANY LIMITED |
|
Business Registration |
|
054705 |
|
Date of Registration |
|
14 May 1995 |
|
Place of Registration |
|
Hanoi Department of Planning and Investment |
|
Registered Capital |
|
90,000,000,000 VND |
|
Tax code |
|
0100520122 |
|
Address |
|
No. 24 Dai Co Viet Str., Le Dai Hanh
precinct - Hai Ba Trung District - Ha Noi City - Vietnam |
|
Tel |
|
(84-4) 38217781 / 38217782 |
|
Fax |
|
(84-4) 39742385 |
|
Number of shares |
|
250,000 |
|
Value of shares |
|
2,500,000,000 VND |
|
Percentage |
|
0.83% |
|
|
||
|
3.
NAME |
|
SAI
GON BINH TAY BEER JOINT STOCK COMPANY |
|
Business Registration |
|
0304116373 |
|
Address |
|
No. 12 Dong Du Ben Nghe Ward - 1 District -
Ho Chi Minh City - Vietnam |
|
Number of shares |
|
6,250,000 |
|
Value of shares |
|
62,500,000,000 VND |
|
Percentage |
|
20.83% |
|
|
||
|
4.
NAME |
|
MINH
PHUC MANUFACTURING AND TRADING JOINT STOCK COMPANY |
|
Business Registration |
|
0301483336 |
|
Date of Registration |
|
11 Feb 2010 |
|
Place of Registration |
|
Business Registration Department of Hochiminh City |
|
Registered Capital |
|
47,483,000,000 VND |
|
Tax code |
|
0301483336 |
|
Address |
|
No. 4383/1 Nguyen Cuu Phu St, Tan Tao A -
Binh Tan District - Ho Chi Minh City - Vietnam |
|
Tel |
|
(84-8) 37545609 37545610 37545611 |
|
Fax |
|
(84-8) 37545608 |
|
Number of shares |
|
100,000 |
|
Value of shares |
|
1,000,000,000 VND |
|
Percentage |
|
0.3% |
|
|
||
|
5.
NAME |
|
MINH
THAO MANUFACTURING AND TRADING JOINT STOCK COMPANY |
|
Address |
|
No. 82/134B Ly Chinh Thang Ward 08 - 3
District - Ho Chi Minh City - Vietnam |
|
Number of shares |
|
500,000 |
|
Value of shares |
|
5,000,000,000 VND |
|
Percentage |
|
1.67% |
|
|
||
|
6.
NAME |
|
Mr.
NGUYEN XUAN HAI |
|
ID Number/Passport |
|
023980524 |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
500,000 |
|
Value of shares |
|
5,000,000,000 VND |
|
Percentage |
|
1.67% |
|
|
||
|
7.
NAME |
|
Mr.
TRAN ANH TIEN |
|
Position |
|
General Director |
|
Date of Birth |
|
13 Apr 1960 |
|
ID Number/Passport |
|
023024221 |
|
Issued Place |
|
Police Station of Hochiminh City |
|
Resident |
|
No.719, An Loi Dong Ward Tran Nao Str - 2
District - Ho Chi Minh City - Vietnam |
|
Nationality |
|
Vietnamese |
|
Number of Shares |
|
400,000 |
|
Value of shares |
|
4,000,000,000 VND |
|
Percentage |
|
1.33% |
|
|
||
FINANCIAL DATA
|
|
||
|
BALANCE
SHEET |
||
Unit: One VND
|
||
|
Balance sheet
date |
31/12/2009 |
31/12/2008 |
|
Number of weeks |
52 |
52 |
ASSETS
|
||
|
A – CURRENT
ASSETS |
161,570,347,602 |
142,079,614,066 |
|
I. Cash and cash
equivalents |
2,482,280,003 |
3,967,274,493 |
|
1. Cash |
2,482,280,003 |
3,967,274,493 |
|
2. Cash equivalents |
0 |
0 |
|
II. Short-term
investments |
0 |
0 |
|
1. Short-term investments |
0 |
0 |
|
2. Provisions for devaluation of short-term investments |
0 |
0 |
|
III. Accounts
receivable |
82,062,130,117 |
126,148,736,072 |
|
1. Receivable from customers |
53,013,232,949 |
5,509,211,576 |
|
2. Prepayments to suppliers |
27,383,035,521 |
120,600,161,699 |
|
3. Inter-company receivable |
0 |
0 |
|
4. Receivable according to the progress of construction |
0 |
0 |
|
5. Other receivable |
1,665,861,647 |
39,362,797 |
|
6. Provisions for bad debts |
0 |
0 |
|
IV. Inventories |
68,659,818,041 |
7,726,147,055 |
|
1. Inventories |
68,659,818,041 |
7,726,147,055 |
|
2. Provisions for devaluation of inventories |
0 |
0 |
|
V. Other Current
Assets |
8,366,119,441 |
4,237,456,446 |
|
1. Short-term prepaid expenses |
0 |
27,000,000 |
|
2. VAT to be deducted |
8,291,808,353 |
4,084,046,454 |
|
3. Taxes and other accounts receivable from the State |
0 |
|
|
4. Other current assets |
74,311,088 |
126,409,992 |
|
B. LONG-TERM
ASSETS |
828,832,605,627 |
643,447,566,670 |
|
I. Long term
account receivable |
0 |
0 |
|
1. Long term account receivable from customers |
0 |
0 |
|
2. Working capital in affiliates |
0 |
0 |
|
3. Long-term inter-company receivable |
0 |
0 |
|
4. Other long-term receivable |
0 |
0 |
|
5. Provisions for bad debts from customers |
0 |
0 |
|
II. Fixed assets
|
827,122,982,253 |
618,359,831,601 |
|
1. Tangible assets |
798,552,173,231 |
55,495,815,269 |
|
- Historical costs |
821,847,761,371 |
56,534,613,256 |
|
- Accumulated depreciation |
-23,295,588,140 |
-1,038,797,987 |
|
2. Financial leasehold assets |
0 |
0 |
|
- Historical costs |
0 |
0 |
|
- Accumulated depreciation |
0 |
0 |
|
3. Intangible assets |
23,961,773,578 |
0 |
|
- Initial costs |
24,991,210,752 |
0 |
|
- Accumulated amortization |
-1,029,437,174 |
0 |
|
4. Construction-in-progress |
4,609,035,444 |
562,864,016,332 |
|
III. Investment
property |
0 |
0 |
|
Historical costs |
0 |
0 |
|
Accumulated depreciation |
0 |
0 |
|
IV. Long-term
investments |
0 |
0 |
|
1. Investments in affiliates |
0 |
0 |
|
2. Investments in business concerns and joint ventures |
0 |
0 |
|
3. Other long-term investments |
0 |
0 |
|
4. Provisions for devaluation of long-term investments |
0 |
0 |
|
V. Other
long-term assets |
1,709,623,374 |
25,087,735,069 |
|
1. Long-term prepaid expenses |
1,507,521,269 |
25,087,735,069 |
|
2. Deferred income tax assets |
0 |
0 |
|
3. Other long-term assets |
202,102,105 |
0 |
|
TOTAL ASSETS |
990,402,953,229 |
785,527,180,736 |
|
|
||
LIABILITIES
|
||
|
A- LIABILITIES |
831,088,274,750 |
624,834,356,251 |
|
I. Current
liabilities |
177,301,173,478 |
60,949,176,442 |
|
1. Short-term debts and loans |
156,861,318,576 |
30,852,000,000 |
|
2. Payable to suppliers |
15,610,175,884 |
11,158,216,435 |
|
3. Advances from customers |
0 |
0 |
|
4. Taxes and other obligations to the State Budget |
1,907,560,246 |
44,032,000 |
|
5. Payable to employees |
576,975,000 |
204,988,851 |
|
6. Accrued expenses |
2,171,128,265 |
18,641,329,625 |
|
7. Inter-company payable |
0 |
0 |
|
8. Payable according to the progress of construction contracts |
0 |
0 |
|
9. Other payable |
174,015,507 |
48,609,531 |
|
10. Provisions for short-term accounts payable |
0 |
0 |
|
II. Long-Term
Liabilities |
653,787,101,272 |
563,885,179,809 |
|
1. Long-term accounts payable to suppliers |
0 |
0 |
|
2. Long-term inter-company payable |
0 |
0 |
|
3. Other long-term payable |
0 |
0 |
|
4. Long-term debts and loans |
653,787,101,272 |
563,885,179,809 |
|
5. Deferred income tax payable |
0 |
0 |
|
6. Provisions for unemployment allowances |
0 |
0 |
|
7. Provisions for long-term accounts payable |
0 |
0 |
|
B- OWNER’S
EQUITY |
159,314,678,479 |
160,692,824,485 |
|
I. OWNER’S
EQUITY |
159,314,678,479 |
160,692,824,485 |
|
1. Capital |
187,950,000,000 |
164,950,000,000 |
|
2. Share premiums |
5,000,000,000 |
0 |
|
3. Other sources of capital |
0 |
0 |
|
4. Treasury stocks |
0 |
0 |
|
5. Differences on asset revaluation |
0 |
0 |
|
6. Foreign exchange differences |
0 |
0 |
|
7. Business promotion fund |
0 |
0 |
|
8. Financial reserved fund |
0 |
0 |
|
9. Other funds |
0 |
0 |
|
10. Retained earnings |
-33,635,321,521 |
0 |
|
11. Construction investment fund |
0 |
-4,257,175,515 |
|
II. Other
sources and funds |
0 |
0 |
|
1. Bonus and welfare funds |
0 |
0 |
|
2. Sources of expenditure |
0 |
0 |
|
3. Fund to form fixed assets |
0 |
0 |
|
MINORITY’S
INTEREST |
0 |
0 |
|
TOTAL
LIABILITIES AND OWNER’S EQUITY |
990,402,953,229 |
785,527,180,736 |
|
|
||
|
PROFIT
& LOSS STATEMENT |
||
|
|
||
|
Description |
FY2009 |
FY2008 |
|
1. Total Sale |
139,715,079,603 |
11,734,024,605 |
|
2. Deduction item |
179,325,300 |
0 |
|
3. Net revenue |
139,535,754,303 |
11,734,024,605 |
|
4. Costs of goods sold |
130,402,856,688 |
12,572,443,965 |
|
5. Gross profit |
9,132,897,615 |
-838,419,360 |
|
6. Financial income |
230,879,058 |
515,785,665 |
|
7. Financial expenses |
32,080,975,132 |
2,283,024,190 |
|
- In which: Loan interest expenses |
26,696,542,019 |
2,283,024,190 |
|
8. Selling expenses |
3,489,091,490 |
361,904,762 |
|
9. Administrative overheads |
4,588,447,283 |
1,966,893,628 |
|
10. Net operating profit |
-30,794,737,232 |
-4,934,456,275 |
|
11. Other income |
1,416,591,226 |
677,280,760 |
|
12. Other expenses |
0 |
0 |
|
13. Other profit /(loss) |
1,416,591,226 |
677,280,760 |
|
14. Total accounting profit before tax |
-29,378,146,006 |
-4,257,175,515 |
|
15. Current corporate income tax |
0 |
0 |
|
16. Deferred corporate income tax |
0 |
0 |
|
18. Profit after tax |
-29,378,146,006 |
-4,257,175,515 |
|
|
|||
|
FINANCIAL RATIOS
AND AVERAGE INDUSTRY RATIOS |
|||
|
|
|||
|
Description |
FY2009 |
FY2008 |
Average Industry |
|
Current liquidity ratio |
0.91 |
2.33 |
1.56 |
|
Quick liquidity ratio |
0.52 |
2.20 |
0.79 |
|
Inventory circle |
3.41 |
1.63 |
6.32 |
|
Average receive period |
214.66 |
3,924.00 |
58.84 |
|
Utilizing asset performance |
0.14 |
0.01 |
1.58 |
|
Liability by total asset |
83.91 |
79.54 |
56.52 |
|
Liability by owner equity |
521.66 |
388.84 |
219.88 |
|
Ebit / Total asset (ROA) |
-0.27 |
-0.25 |
8.12 |
|
Ebit / Owner's equity (ROE) |
-1.68 |
-1.23 |
26.67 |
|
Ebit / Total revenue (NPM) |
-1.92 |
-16.82 |
5.35 |
|
Gross profit / Total revenue (GPM) |
6.54 |
-7.15 |
14.14 |
|
Note: The Average Industry was calculated by Vietnam Credit based on our
owned statistical data |
|||
|
|
PAYMENT HISTORY & PERFORMANCE EXPERIENCES
|
|
||
|
Trade Morality |
|
Fair |
|
Liquidity |
|
Low |
|
Payment status |
|
Average |
|
Financial Situation |
|
Below Average |
|
Development trend |
|
Even |
|
Litigation data |
|
No Record |
|
Bankruptcy |
|
No Record |
|
Payment Methods |
|
Through its banks by L/C, T/T |
|
Sale Methods |
|
Wholesaler |
|
Public opinion |
|
Normal |
|
|
|
|
CREDIT INQUIRY: 1,600,000 USD, term 30 – 90 days |
|
|
|
This credit inquiry is very large for the
subject. Caution need with this credit inquiry. |
|
|
|
|
|
|
INTERPRETATION ON THE SCORES
|
|
|
SABECO
- SONG LAM PACKAGING JOINT STOCK COMPANY was established in 2007 under the
business code No. 2900788281, granted by Nghe An Planning and Investment Department.
Currently, the registered capital is VND 300 billion and the employee number
is about 250 people. The position of the subject in the industry is average. The
subject is located at D1 Street, Bac Vinh Industrial Zone, Hung Dong commune,
Vinh City, Nghe An Province. The subject’s factory has just put into
operation since June 21st, 2009. The
subject has production lines to make two-piece cans, with an annual capacity
of 450 million cans. The state-of-the-art technology can turn out 40 million
cartons a year. In its development strategy set for 2015, it would expand its
business in a multi-sector direction, targeting the alcohol and beverage
sectors. The company aims to produce 160 liters of the “333” canned beers in
2010 and 250 liters in 2015 by investing in modern production technology and
improving product design. Financially,
regarding to the above financial data, in 2008, the factory has not
completely come into operation yet, hence the revenue is low with negative
number of profit. The total turnover of 2009 increased significantly however
the subject invested so much into financial activities. This operation of the
subject led to big negative number of profit. We
connected with the subject and exchanged with Mr. Nguyen Hoai Bac – chief
accountant of the subject. However, Mr. Bac said that the director board of
the subject refused to supply the financial data in 2010. Recently,
environmental pollution rising from production of the subject has serious
affects on life and agricultural production of the peoples around the
factory. In
conclusion, the subject has capacity to meet the small normal financial
commitments. |
------------ 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.45.07 |
|
|
1 |
Rs.72.97 |
|
Euro |
1 |
Rs.63.57 |
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.