MIRA INFORM REPORT
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Report Date : |
24.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
KOREA TRADE INSURANCE CORPORATION |
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Formerly Known As : |
Korea Export
Insurance Corporation under Export Insurance Act |
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Registered Office : |
136, Seorin-dong, Jongno-gu, Seoul, Korea, Korea Trade Insurance
Corporation Bldg., Zip Code 110-729 |
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Country : |
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Financials (as on) : |
31.12.2011 |
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Date of Incorporation : |
03.07.1992 |
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Com. Reg. No.: |
102-82- 06816 |
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Legal Form : |
Governmental Corporation |
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Line of Business : |
Guarantee Insurance |
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No. of Employees
: |
455 |
RATING & COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Excellent |
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Payment
Behaviour : |
Regular |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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|
a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
|
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 |
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Company
Name |
KOREA TRADE
INSURANCE CORPORATION (Trade Name :
K-SURE) (Korean Company Name : “한국무역보험공사”) |
|
Registered Address |
136, Seorin-dong, Jongno-gu, |
|
Building |
Korea Trade Insurance Corporation Bldg. |
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Zip Code |
110-729 |
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Tel |
+82-2-399-6800 |
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Fax |
+82-2-399-6882 |
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E-mail |
|
|
Website |
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Trading Address |
Korea Trade Insurance Corporation Bldg.,
136, Seorin-dong, Jongno-gu, |
|
Tel |
+82-2-399-6800 |
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Fax |
+82-2-399-6882 |
|
Other
Address-Busan |
9th Floor, Saneun Bldg. 136
Daecheong-ro(St), Jung-ku Busan 600-012, |
|
Tel |
+82-51-245-3981~3 |
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Fax |
+82-51-246-9833 |
|
Other
Address-Inchon |
6th Floor, Daewoo Securities
Bldg. 407 Gyeongin-ro(St), Nam-gu |
|
Tel |
+82-32-422-2713~7 |
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Fax |
+82-32-422-2718 |
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Other
Address-Daegu |
17th Floor, Samsung Life
Insurance Bldg. 2095 Dalgubeol-daero(Blvd), Jung-gu Daegu 700-742, |
|
Tel |
+82-53-252-4932~4 |
|
Fax |
+82-53-256-2684 |
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Other
Address-Gwangju-Jeonnam |
11th Floor, Kwangju Bank. 225
Jebong-ro(St), Dong-gu Gwangju 501-730, |
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Tel |
+82-62-226-4820~2 |
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Fax |
+82-62-226-4824 |
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Other
Address-Daejeon-Chungnam |
8th Floor, Kumho Life Insurance
Bldg. 800 Gyeryong-ro(St), Jung-gu Daejeon 301-736, |
|
Tel |
+82-42-526-3291~4 |
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Fax |
+82-42-526-3295 |
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Other
Address-Seoul |
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Tel |
+82-2-551-0481~5 |
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Fax |
+82-2-551-0487 |
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Other
Address-Ulsan |
10th Floor, Tong Yang Investment
Bank Bldg. 197 Samsan-ro(St), Nam-gu |
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Tel |
+82-52-261-1833~6 |
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Fax |
+82-52-261-1837 |
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Other
Address-Jeonbuk |
5st Floor, KOREAN TEACHERS CREDIT
UNION Bldg, 1 Ongoeul-ro(St), Wansan-gu Jeonju 560-821, Korea |
|
Tel |
+82-63-276-2361~3 |
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Fax |
+82-63-276-2364 |
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Other
Address-Chungbuk |
4th Floor, Chungbuk Small &
Medium Business Administration, 50 Pungsan-ro(St), Heungdeok-gu Cheongju
361-802, |
|
Tel |
+82-43-236-1301~4 |
|
Fax |
+82-43-236-1305 |
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Other
Address-Gyeonggi |
8th Floor, Gyeonggi Small &
Medium Business Administration, 511 Gwongwang-ro(St), Yeongtong-gu |
|
Tel |
+82-31-259-7600~8 |
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Fax |
+82-31-259-7607 |
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Other
Address-Gyeonnam |
5th Floor, |
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Tel |
+82-55-286-9394~6 |
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Fax |
+82-55-286-9399 |
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Other
Address-Gangwon |
6rd Floor, Samsung Life Insurance
Bldg, 2 Wonil-ro(St-,Wonju 220-070 |
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Tel |
+82-33-765-1060~4 |
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Fax |
+82-33-765-1065 |
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Other
Address-Gyeonggi Northern |
8rd Floor, Kyobo Life Insurance Bldg,
1181 Jungang-ro(St), ilsan Dong Gu, Goyang 410-837 Gyeonggi-do, Korea |
|
Tel |
+82-31-932-3501~6 |
|
Fax |
+82-31-932-3507 |
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Other
Address-Jeju |
4rd Floor, |
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Tel |
+82-64-751-6601~2 |
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Fax |
+82-64-751-6603 |
|
Type |
Export/Import |
|
Industry |
Guarantee Insurance |
|
Main Business |
Export Insurance |
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Established (mm/dd/yyyy) |
07/03/1992 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Guarantee Insurance |
|
Sell |
Export Insurance Services |
|
Name |
Cho Gye-Ryong |
|
Address |
|
|
Date of Birth |
12/08/1954 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
|
Capital (KRW) |
1,780,134,804,021 |
|
Employees |
455 |
|
Formation |
Governmental Corporation |
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Bank Details |
Korea Exchange Bank |
|
Corporate Registered No. |
110171-0008232 |
|
Business Registered No. |
102-82- 06816 |
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Permit & Licenses |
Int’l Trade No.: 45321164 |
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Shareholder Position |
Ministry of Knowledge |
|
Company History |
07/03/1992 Incorporated as Korea Export
Insurance Corporation under Export Insurance Act 08/11/2003 Moved to the present HQ address from 33, Seorin-dong,
Jongno-gu, 07/06/2010 Changed company name to the present name |
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|
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President |
Mr. |
Cho Gye-Ryong |
Male |
Korean |
06/29/2011 |
|
Director |
Mr. |
Park Joong-Chan |
Male |
Korean |
10/21/2010 |
|
Director |
Mr. |
Kwon Moon-Hong |
Male |
Korean |
09/15/2011 |
|
Director |
Mr. |
Kim Dong-Sun |
Male |
Korean |
02/24/2012 |
|
Director |
Mr. |
Kim Dong-Soo |
Male |
Korean |
02/24/2012 |
|
Director |
Mr. |
Kim Sun-Ki |
Male |
Korean |
07/19/2010 |
|
Director |
M/S. |
Oh Mi-Young |
Female |
Korean |
02/24/2012 |
|
Director |
Mr. |
Lee Gye-Min |
Male |
Korean |
06/28/2010 |
|
Director |
Mr. |
Lee Gyu-Cheol |
Male |
Korean |
09/15/2011 |
|
Director |
Mr. |
Lee jae-Kook |
Male |
Korean |
04/27/2011 |
|
Director |
Mr. |
Chu Byung-Yang |
Male |
Korean |
09/15/2011 |
|
Director |
Mr. |
Ham Jin-Kyu |
Male |
Korean |
01/20/2011 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
2,627,733,225,758 |
|
|
|
2010 |
2,397,690,258,888 |
2,685,296,712,967 |
-749,163,483,852 |
|
2009 |
4,222,843,365,635 |
3,012,266,956,402 |
-312,688,866,210 |
|
Authorized Capital(KRW) |
Not Applicable to Governmental Corporation |
|
Paid-Up Capital(KRW) |
1,780,134,804,021 |
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Total Issued Shares |
Not Applicable to Governmental Corporation |
Balance
Sheet
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|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Total
Assets |
2,627,733,225,758 |
2,685,296,712,967 |
3,012,266,956,402 |
|
Current
Assets |
1,396,759,209,472 |
1,089,497,209,627 |
|
|
Investment |
623,296,418,585 |
1,018,214,820,981 |
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|
Tangibles |
71,520,752,788 |
58,928,631,060 |
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|
Intangibles |
16,231,642,379 |
18,587,342,279 |
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Non-Current
Assets |
519,925,202,534 |
500,068,709,020 |
|
|
Total
Liabilities |
1,592,813,640,952 |
1,531,202,049,578 |
1,283,577,981,433 |
|
Current
Liabilities |
68,978,029,016 |
124,913,869,798 |
|
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Long-Term
Provisions |
619,241,459,265 |
678,067,161,124 |
|
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Non-Current
Liabilities |
904,594,152,671 |
728,221,018,656 |
|
|
Capital
Stock |
1,780,134,804,021 |
1,780,134,804,021 |
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Capital
Surplus |
|
|
|
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Profit
Surplus |
-762,645,624,497 |
-652,501,572,195 |
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Capital
Adjustment |
17,430,405,282 |
26,461,431,563 |
|
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Total
Equity |
1,034,919,584,806 |
1,154,094,663,389 |
1,728,688,974,969 |
|
Liab.
& Shareholder’s Equity |
2,627,733,225,758 |
2,685,296,712,967 |
3,012,266,956,402 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2011 |
As of 12/31/2010 |
As of 12/31/2009 |
|
Revenues |
|
2,397,690,258,888 |
4,222,843,365,635 |
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Operating
Expenses |
|
3,152,948,748,070 |
4,540,191,665,918 |
|
Gross
Profit |
|
|
|
|
Selling
& Admin. Expenses |
|
|
|
|
Operating
Income |
|
-755,258,489,182 |
-317,348,300,283 |
|
Non-Operating
Income |
|
6,102,442,145 |
4,677,558,886 |
|
Non-Operating
Expenses |
|
7,436,815 |
72,901,153 |
|
Income
Before Taxes |
|
-749,163,483,852 |
-312,743,642,550 |
|
Income
Taxes Expenses |
|
|
-54,776,340 |
|
Net
Income |
|
-749,163,483,852 |
-312,688,866,210 |
|
Main Products & Services |
-Short-term products Short-term Export Credit Insurance
(General) Short-term Export Insurance (Buyer Credit) Agro-fisheries Export Insurance Pre-shipment Export Credit Guarantee Post-shipment Export Credit Guarantee -Medium and Long-term Products Medium and Long-term Export Credit
Insurance(Pre-shipment) Medium and Long-term Export Credit
Insurance(Supplier Credit) Medium and Long-term Export Credit
Insurance(Buyer Credit) Interest Rate Risk Insurance Overseas Business Financing Insurance Overseas Construction Works Insurance Overseas Investment Insurance(Investment
Financing) Overseas Investment Insurance Export Bond Insurance Overseas Natural Resources Development Fund
Insurance -Foreign Exchange Risk Insurance Foreign Exchange Risk Insurance(Forward) -Other Services Product Reliability Insurance Service Export Credit Insurance Importer Credit Search Overseas Debt Collection Service |
|
Competitors |
KOREA INVESTMENT CORPORATION 16TH FL., FINANCE BLDG., 84, TAEPYEONGNO
1-GA, JUNG-GU, SEOUL, KOREA TEL:+82-2-2179-1000 FAX:+82-2-2179-1065 KOREA WATER RESOURCES CORPORATION SAN 6-2, YEONCHUK-DONG, DAEDEOK-GU,
DAEJEON, KOREA TEL:+82-42-629-3114 FAX:+82-42-623-0963 KOREA NATIONAL TOURISM ORGANIZATION (KNTO) 10, DA-DONG, JUNG-GU, SEOUL, KOREA TEL:+82-2-7299-497~499 FAX:+82-2-757-5997 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Overseas Office |
LOS ANGELES 915 WILSHIRE BLVD., SUITE 1640,
LOS ANGELES, CA 90017, U.S.A. TEL:+1-213-622-4314~5, 4330 BEIJING ROOM 915, SILVER TOWER BLDG., 2 NORTH
DONGSANHUAN RD., CHAOYANG DIST., BEIJING 100027, CHINA TEL:+86-10-6410-6437~9 SAO PAULO ALAMEDA SANTOS, 880, 5°ANDAR
CONJ. 52/53 CEP:01418-100- CERQUEIRA CESAR, SAO PAULO, SP, BRASIL TEL:+55-11-3284-1105, 3285-1951 PARIS 13 RUE CAMILLE DESMOULINS, 92441,
ISSY-LES-MOULINEAUX CEDEX, FRANCE TEL:+33-1-5804-2674 SHANGHAI ROOM 2210, MAXDO CENTER, NO.8,
XINGYI ROAD, SHANGHAI 200336, CHINA TEL:+86-21-5208-1181~2 HO CHI MINH CITY DIAMOND PLAZA #1207, 34 LE DUAN ST.,
DIST.1, HO CHI MINH CITY, VIETNAM TEL:+84-8-3824-6844~5 NEW YORK 460 PARK AVE., 21TH FLOOR, NEW
YORK, NY 10022, U.S.A. TEL:+1-212-355-2505 JAKARTA WISMA GKBI 21ST. FLOOR, SUITE 2104,
JL. JENDRAL SUDIRMAN KAV.28, JAKARTA 10210, INDONESIA TEL:+62-21-570-5565, 5790-1060 NEW DELHI UNIT NO. 306, RECTANGLE-1, D-4,
SAKET, NEW DELHI 110017, INDIA TEL:+91-11-4057-5045,5047 PANAMA CALLE 50, TORRE GLOBAL BANK, PISO
33, OFFICINA 3304, PANAMA CITY, PANAMA TEL:+507-394-9170~1 TOKYO ROOM 1056, SOUTH TOWER 10TH FLOOR,
YURAKUCHO DENKI BLDG. 7-1, YURAKUCHO 1-CHOME, CHIYODA-KU, TOKYO, JAPAN
100-0006 TEL:+81-3-3216-0601 MOSCOW OFFICE NO. 948, 12
MEZHDUNARODNAYA-2, KRASNOPRESNENSKAYA NAB., 123610, MOSCOW, RUSSIA TEL:+7-495-258-1539~41 JOHANNESBURG (KBC DETACHED SERVICE-18TH FLOOR, SANDTON
CITY OFFICE TOWER, CNR. RIVONIA ROAD & 5TH STREET, SANDTON, PO BOX
786703, SANDTON CITY 2146, SOUTH AFRICA TEL:+27-11-784-0607 |
(Activity & Markets)
The Subject deals
with the companies in Europe, USA, Japan and China.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.23 |
|
UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.68.84 |
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.