MIRA INFORM REPORT
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Report Date : |
07.12.2012 |
IDENTIFICATION DETAILS
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Name : |
ANCA PTY LTD |
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Formerly Known As : |
AUSTRALIAN N.C. AUTOMATION
PTY. LTD. |
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Registered Office : |
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Country : |
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Financials (as on) : |
30.06.2012 |
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Date of Incorporation : |
26.02.1976 |
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Com. Reg. No.: |
005163244 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Designs and manufactures
CNC grinding machines |
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No. of Employees : |
684 employees (Anca Group) |
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 : |
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 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Australia - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
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Source : CIA |
Verified Address
Subject name : ANCA PTY LTD
Business address : 25 Gatwick Road
Town : Bayswater North
Province : Victoria
Zip/postal code : 3153
Country : Australia
Tel : +61 3 97518200
Fax : +61 3 97517300
Email : ozinfo@anca.com
Website : www.anca.com
Registered address : 25 Gatwick Road
Town : Bayswater North
Province : Victoria
Zip/postal code : 3153
Country : Australia
Executive Summary
Date founded or registered : 26/02/1976
Legal form : Australian
Proprietary Company
Chief executive : Grantly Martin Anderson
Issued & paid up capital
: AUD 125,717
Sales turnover : AUD
158,715,321 (Consolidated 12 months, 30/06/2012)
Net income : AUD 20,183,918
(Consolidated 12 months, 30/06/2012)
Total fixed assets : AUD 137,955,234
(Consolidated 12 months, 30/06/2012)
Line of business : Designs and manufactures
CNC grinding machines.
Staff employed : 684
employees (Anca Group)
Company Analysis
Country risk : Country risk is
minimal
Operation trend : Operational trend is
progressing
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental found
Payment history : No payment delays noted
Registry Data
Registration date : 26/02/1976
Legal form : Australian Proprietary Company
Registration no Australia Company Number:
005163244
Registered authority : Australian Securities and Investments
Commission
Fiscal/ Tax no : Australia Business Number:
43005163244
Registry status : Live/Active
Previous name : AUSTRALIAN N.C. AUTOMATION PTY. LTD.
DROMADEL PTY. LTD. (initial)
Change of legal form : None reported.
Key Management
Name : Grantly Martin Anderson
Designation : Chief Executive Officer
Name : Jeffrey Foregard
Designation : Executive Director
Appointments
Name : Patrick John McCluskey
Designation : Director
Appointment date : 11/06/76
Address : 6 Kingfield Court
Camberwell,
VIC 3124
Australia
Biography : Born on 24-08-1948 in Koroit,
Victoria, Australia.
Name : Patrick Gerard Boland
Designation : Director
Appointment date : 11/06/76
Address : 73 Alfred Street
Kew, VIC
3101
Australia
Biography : Born on 02-11-1948 in
Yallourn, Victoria, Australia.
Name : Russell John Riddiford
Designation : Director
Appointment date : 12/03/96
Address : 3553 Beagle Road
Commerce, MI 48382
United States
Biography : Born on 25-03-1962 in Melbourne,
Victoria, Australia.
Name : Grantly Martin Anderson
Designation : Director
Appointment date : 25/08/10
Address : 25 Mariposa Place
Port
Melbourne, VIC 3207
Australia
Biography : Born on 01-10-1954 in
Adelaide, South Australia, Australia.
Name : Jeffrey Foregard
Designation : Director
Appointment date : 30/06/06
Address : Room 301, Block 25, 650
Biyun Road
Pudong New
District, Shanghai 201206
China
Biography : Born on 08-12-1963 in London,
United Kingdom.
Name : Jan Langfelder
Designation : Alternate Director
Appointment date : 02/03/12
Address : Schillerstraße 11A
D-61440
Oberursel (Taunus)
Germany
Biography : Born on 11-08-1958 in Prague,
Czech Republic.
Name : Gary Ward
Designation : Company Secretary
Appointment date : 16/04/12
Address : 2 Natalie Mews
Eltham,
VIC 3095
Australia
Biography : Born on 03-11-1960 in
Watford, United Kingdom.
Staff employed : 684 employees (Anca Group)
Key Advisors
Auditors : DELOITTE & CO
550 Bourke
Street
Melbourne,
VIC 3000
Australia
Share capital
Composition
Authorized Capital : AUD 125,717
No of shares : 1,251 Employee Shares / 124,466
Founder Shares
Share par value : AUD 1
Issued capital : AUD 125,717
Paid up capital : AUD
125,71
How listed : Full List
Composition
Shareholder name : Russell John Riddiford
Address : 3553 Beagle Road
Commerce,
MI 48382
United
States
No. of shares : 1,251 Employee Shares / 5,036
Founder Shares
Shareholder name : PICOPROP PTY. LTD.
Address : 73 Alfred Street
Kew, VIC
3101
Australia
No. of shares : 302 Founder Shares
Shareholder name : Patrick Gerard Boland
Address : 73 Alfred Street
Kew, VIC
3101
Australia
No. of shares : 29,735 Founder Shares
Shareholder name : Elizabeth Anne Boland
Address : 73 Alfred Street
Kew, VIC
3101
Australia
No. of shares : 29,678 Founder Shares
Shareholder name : Patrick John McCluskey
Address : 6 Kingfield Court
Camberwell,
VIC 3124
Australia
No. of shares : 59,715 Founder Shares
RELATED COMPANIES & CORPORATE
AFFILIATIONS
Structure
Name : ANCA MOTION PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : 41 Gatwick Road
Bayswater
North, VIC 3153
Australia
Name : PATRIX FENCING PTY LTD
Affiliation type : Wholly-owned Subsidiary
Address : 25 Gatwick Road
Bayswater
North, VIC 3153
Australia
Name : ANCA INC.
Affiliation type :
Wholly-owned Subsidiary
Address : 31129 Century Drive
Wixom
Michigan
48393
United
States
Name : ANCA (U.K.) LIMITED
Affiliation type :
Wholly-owned Subsidiary
Address : 2 Eastwood Business Village
Harry
Weston Road, Binley
Coventry
CV3 2UB
West
Midlands
United
Kingdom
Name : ANCA MOTION TAIWAN CO., LTD.
Affiliation type : Wholly-owned
Subsidiary
Address : 1F., No.57, Gongyequ 37th Rd.
Xitun
Dist., Taichung City 407
Taiwan
Name : ANCA MACHINE TOOL (SHANGHAI) CO., LTD.
Affiliation type :
Wholly-owned Subsidiary
Address : West Wing, 1/F., Building 4
475 Fu Te
No.1 Road(W)
Waigaoqiao
FTZ, Shanghai
China
Name : ANCA (EUROPE) GMBH
Affiliation type :
Wholly-owned Subsidiary
Address : Alois-Senefelder-Str. 4
68167
Mannheim
Germany
Name : ANCA MANUFACTURING (THAILAND) LTD
Affiliation type :
Wholly-owned Subsidiary
Address : Eastern Seaboard Industrial Estate
No. 109/20
Moo 4
Tambon,
Pluakdaeng
Amphur,
Pluakdaeng
Rayong
21140
Name : ANCA
ISRAEL LTD
Affiliation type : Wholly-owned
Subsidiary
Address : 3 Hayetzira Street
Ramat Gan
Israel
Name : ANCA
DO BRASIL RETIFICAS DE PRECISAO LTDA
Affiliation type : Wholly-owned
Subsidiary
Address : Rua Francisco Ferreira Leăo 377
Sorocaba 18040 330
Săo Paulo
Brasil
Related
companies and corporate affiliations comments
Other companies of the ANCA Group should be
considered affiliates of the Subject.
Bank Details
Name of bank : National Australia Bank Limited
Address : Australia
Account details : Current Account
Comments : It is generally not the policy of
local banks to provide credit status information to
non
related parties, however interested parties would be advised to consult first
with the
Subject if banker's references are required.
Mortgages :
Satisfied Charges:
ASIC Charge Number: 95204
Date Registered: 01-10-1982
Charge type: Both Fixed &
Floating
Date Created: 17-09-1982
Chargees Name: RURAL FINANCE
CORPORATION OF VICTORIA
ASIC Charge Number: 95235
Date Registered: 14-10-1987
Charge type: Both Fixed &
Floating
Date Created: 23-09-1987
Chargees Name: NATIONAL
AUSTRALIA BANK LIMITED
ASIC Charge Number: 473174
Date Registered: 05-01-1995
Charge type: Both Fixed &
Floating
Date Created: 22-12-1994
Chargees Name: ST.GEORGE BANK
LIMITED & ST. GEORGE FINANCE
LIMITED
ASIC Charge Number: 526982
Date Registered: 12-02-1996
Charge type: Both Fixed &
Floating
Date Created: 24-01-1996
Chargees Name: AUSTRALIAN
TRADE COMMISSION
ASIC Charge Number: 808823
Date Registered: 06-07-2001
Charge type: Both Fixed &
Floating
Date Created: 31-05-2001
Chargees Name: BANK ONE,
NATIONAL ASSOCIATION
ASIC Charge Number: 987206
Date Registered: 22-10-2003
Charge type: Both Fixed &
Floating
Date Created: 18-09-2003
Chargees Name: AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED
Legal Fillings
Bankruptcy fillings : None reported.
Court judgements : None reported.
Tax liens : None reported.
Others : None reported.
Description
Source of financial statement
: Commercial Registry Filings
Financial statement date : 30/06/12
Type of accounts : Full audited
Currency : Australia
Dollar (AUD)
Exchange rate : 1 USD = AUD 0.96 as of
03-12-2012
Summarized
Financial Information
Consolidation type : Consolidated Consolidated
Currency : Australia Dollar
(AUD) Australia Dollar
(AUD)
Denomination : (x1) One (x1) One
Date of financial year end : 30/06/12 30/06/11
Length of accounts : 12 months 12 months
Sale turnover / Income : 158,715,32 1
128,549,406
Gross profit : 67,120,474 56,476,023
Profit before tax : 22,453,825 17,477,122
Net income : 20,183,918 13,798,587
Non current assets : 46,312,931 37,464,526
Current assets : 91,642,303 78,605,896
Inventories : 58,071,583 49,954,777
Total assets : 137,955,234 116,070,422
Current liabilities : 51,611,254 56,204,421
Non current liabilities : 12,782,370 3,588,280
Total liabilities : 64,393,624 59,792,701
Share equity : 73,561,610 56,277,721
Retained earning : 78,010,752 58,477,199
Comments : The consolidated
financial information above relates to the Subject and all its
subsidiaries.
Main activities : The Subject is an Australia company
which designs and manufactures
CNC
grinding machines. The company was founded in 1974 by Pat Boland
and Pat
McCluskey in Melbourne, Australia.
The
Subject products include CNC grinding machines, CNC tool and
cutting
machines, CNC sharpening machines, CNC tap manufacturing
machines,
CNC specialist stick-blade grinding machines. In addition the
Subject
also design and produce software and offer refurbishment
services.
It is considered a leader in its field of high-end precision grinders
that are
used in many industries including aeronautics and the automotive
production
and has claimed to be the No. 1 supplier of CNC machines in
China,
Britain and the US.
Product & services : -
CNC system design,
manufacture and assembly
-System and application
software development
-Mechanical design,
manufacture and assembly
-Electrical and electronic
design, manufacture and assembly
-Global sales, engineering
and support network
Purchases
International : Mainly from China, Taiwan,
Thailand
Sales
Local : Yes
International : Worldwide
Key events : 26 October 2012
ANCA Wins Australian
Exporting Award
ANCA has won the Large Advanced Manufacturer category in Australia’s Governor of Victoria Export Awards for the seventh time. According to the company, 2011 was an exceptional year of growth for ANCA, an Australian
owned and based market leader in CNC tool and cutter grinder design and manufacturing. Pat Boland, co-founder and director of ANCA, made the announcement.
ANCA makes a significant investment to the Australian
economy with 98% of its products exported globally with major markets in
Germany, Japan, China, and the United States. ANCA has defied the odds to
achieve success on a global scale in a sector traditionally dominated by German
and Swiss companies. The award is one of the most prestigious business awards
in Victoria rewarding the most successful and
innovative exporters with the stamp of international success.
ANCA reported almost 20% export sales increase FY2011/2012 with
significant success developing the Chinese, South American, and Indian markets.
As the EU continues to struggle, ANCA had its most successful trade show at EMO
exhibition with the highest sales ever achieved in its 38 years and has
launched new machines and software into the market to remain at the forefront
of machine tool technology. “This award is an endorsement of the hard work and
innovative thinking of the team at ANCA," says Boland. "We continue
to push the boundaries,
developing even more flexible and sophisticated products and
identifying new un-tapped global markets to sell to. I am proud of the success
of our business and our amazing talent that enable us to be the market leading
business we are today. “Given that we are based in Australia but sell to the
world, we have to be the best of the best. Our investment in research and
development from the beginning has instilled a culture of excellence where we
continue to seek out new and better innovations for our customers.” Source: www.anca.com 16 May 2012
ANCA Motion opens new Melbourne head office Minister for Industry and Innovation Mr Greg Combet opens ANCA
Motions' new Bayswater, Melbourne Head Office, engineering design and
development centre.
The ANCA group has been designing,
developing and manufacturing world class CNC Tool and Cutter Grinders since
1974. The company exports to major markets in Germany, USA, China and Japan
just to name a few. In 2008 ANCA Motion gained it's own identity as a designer,
developer and supplier of servo drives, motors and general machinery automation
with a wide range of applications.
In his opening address Mr Combet
talked about how the high Australian dollar has impacted on the Australian
manufacturing landscape, and that in order to remain globally competitive
Australia's advanced manufacturers
need to be innovative. ANCA and ANCA
Motion are clearly examples of how manufacturing innovation can lead to
success. ANCA spends approximately 9 per cent of its' revenue on Research and
Development (R&D) with the assistance of the federal governments R&D
tax incentives.
In opening the new facility Minister
Combet applauded ANCA directors Pat Boland and Pat McClusky on their
achievement in building an Australian Manufacturing company that employs over
800 people throughout the
world, has a world leading product
that is exported to countries that are in fact renowned for the production of
their own world class CNC Machine Tools, such as Germany.
Guests at the opening were
treated to a tour of the new facility and met
some of ANCA Motions highly
skilled staff and engineers who design, test
and develop the product using
the latest advanced manufacturing
technologies and design
software.
Source:
www.manufacturelink.com.au
Property &
Assets
Premises : The Subject
operates from premises located at the verified heading address consisting of a
production facility, warehouse and administrative office.
Branches : None reported.
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product – GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector : agriculture: 4% industry: 25.6% services: 70.4%
Inflation : 2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate 2009: 5.6 %
2010: 5.2 %
2011:5.1 %
Public debt
(General Government gross
debt as a % GDP) 2009: 16.9%
2010: 20.4%
2011: 22.9 %
Government bond
ratings Standard
& Poor's: AAA-/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded shares US$ 1.258 trillion
Largest companies in the country Commonwealth Bank (Banking), BHP Billiton (Materials), Westpac
Banking Group (Banking), Rio Tinto (Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra (Telecommunications)
Trade & Competitiveness Overview
Total exports US$210.7
billion
Exports commodities coal,
iron ore, gold, meat, wool, alumina, wheat
Total imports US$187.2
billion
Imports commodities machinery and
transport equipment, computers and office machines, telecommunication equipment
and parts, crude oil and petroleum products
Export - major partners Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India
5.5%, UK 4.2%
Import - major partners China 15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany
5.2%, UK 4.3%, Thailand 4.2%
FDI Inflows 2009: US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows 2008: US$33,604 million
2009: US$ 16,160 million
2010: US$26,431 million
Best countries for doing business : 10
out of 183 countries
Global competitiveness ranking : 20
(ranking by country on a basis of 142, the first is the best)
Country and Population Overview
Total population :
22.23 million
Total area :
7,692,024 km2
Capital : Canberra
Currency : Australian Dollars (AUD)
Internet
users as % of total population
: 76%
Purchase Term
International : L/C, Prepayment, Cash against
document, Credit up to 120 days
Sales Term
Local : Prepayment, Cash
against document, Credit up to 120 days
International : L/C, Prepayment, Cash against
document, Credit up to 120 days
Trade Reference/
Payment Behaviour
Comments : As local and international
trade references were not supplied, the Subject's
payment
track record history cannot be appropriately determined but based
on our
research, payments are believed to be met without delay.
Investigation Note
Sources : Interviews and material provided by the Subject
Other official and local business sources
FOREIGN EXCHANGE
RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.54.47 |
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UK Pound |
1 |
Rs.87.63 |
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Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
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NB |
New Business |
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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.