MIRA
INFORM REPORT
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Report Date : |
10.02.2012 |
IDENTIFICATION DETAILS
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Name : |
MYER PTY LTD |
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Registered Office : |
800 Collins, Docklands, Victoria, 3008 |
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Country : |
Australia |
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Financials (as on) : |
30.07.2011 |
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Date of Incorporation : |
09.02.1928 |
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Com. Reg. No.: |
Australian Company Number: 004143239 |
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Legal Form : |
Australian Proprietary Company |
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Line of Business : |
Department store chain, retailing a broad range of
merchandise including women's, men's and children's clothing, footwear |
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No. of Employees : |
13,000 employees (Myer Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 2,000,000 |
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Status : |
Good |
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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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
|
Off-credit |
D |
IDENTIFICATION DETAILS
Verified Address
Subject
name : MYER PTY LTD
Business address : 800 Collins Street Town : Docklands Province : Victoria
Zip/postal code : 3008
Country : Australia
Tel : +61 3 86676000
Fax : +61 3 96613770
Website : www.myer.com.au
Registered address : 800 Collins Street Town : Docklands Province : Victoria
Zip/postal code : 3008
Country : Australia
Postal
address : P.O. Box 869J
Town : Melbourne Province : Victoria Zip/postal code : 3001
Country : Australia
SUMMARY DETAILS
Executive Summary
Date
founded or registered : 09/02/1928
Legal
form : Australian Proprietary Company
Chief
executive : Bernard Joseph Brookes
Issued
& paid up capital : AUD 841,532,130
Sales turnover : AUD 3,158,774,000 (Group-consolidated
12 months, 30/07/2011) Net income : AUD 159,665,000 (Group-consolidated 12
months, 30/07/2011) Total fixed assets : AUD 1,977,962,000 (Group-consolidated
12 months, 30/07/2011)
Line of
business : Department store chain, retailing a
broad range of merchandise including women's, men's and children's clothing,
footwear and accessories; cosmetics and fragrance; homewares; electrical;
furniture and bedding; toys; books and stationery; food and confectionery; and
travel goods.
Staff
employed : 13,000 employees (Myer Group)
Company Analysis
Country
risk : Country risk is minimal
Operation
trend : Operational trend is steady
Management experience : Management is adequately experienced
Financial performance : Financial performance is good
Organization structure : Organizational structure is stable
Detrimental : No detrimental records found
Payment history : No payment delays noted
Credit amount suggestion : USD 2,000,000
Credit amount asked : Not described
Comments : Larger credit can still be considered.
The Subject is well positioned in the market and the financial stability of the
group is positive.
STATUTORY DETAILS
Registry Data
Registration
date : 09/02/1928
Legal
form : Australian Proprietary Company
Registration
no Australian
Company Number: 004143239
Registered
authority : Australian Securities and Investments
Commission
Fiscal/
Tax no : Australian Business Number: 83004143239
Registry
status : Live/Active
Previous
name : MYER LIMITED
MYER
STORES LIMITED
MYER SOUTHERN STORES LIMITED MYER (BALLARAT) LIMITED
THE
MYER EMPORIUM (BALLARAT) LIMITED
THE MYER EMPORIUM (BALLARAT) PROPRIETARY LIMITED PATERSON
POWELL PROPRIETARY LIMITED
PATERSON
POWELL & SANDFORD PROPRIETARY LIMITED (initial)
Change
of legal form : None reported.
MANAGEMENT / DIRECTORS
Key Management
Name : Bernard Joseph Brookes
Designation : Managing
Director Name : Mark Stephen
Ashby Designation : Chief Financial Officer Name : Gregory
James Travers
Designation : Executive General Manager Business Services
Name : Nick Abboud
Designation : Executive General Manager Stores
Name : Marion Joan Rodwell
Designation : General Counsel and Company
Secretary
BOARD OF DIRECTORS/ OTHER APPOINTMENTS
Appointments
Name : Bernard Joseph Brookes
Designation : Director
Appointment
date : 02/06/06
Address : 14 Haven Place
Dural,
NSW 2158
Australia
Biography : Born on 08-11-1959 in Birmingham, United Kingdom.
Mr. Bernard Brookes, Bernie serves as the Chief Executive
Officer of Myer Pty Ltd. Mr. Brookes has been the Chief Executive Officer and Managing
Director of Myer Holdings Limited. (formerly, NB Flinders Pty Ltd.) since June
2, 2006. He served as Chief General Manager of Supermarket Buying and Marketing
at Woolworths Ltd. and served as its Chief General Manager of Stage 3 of
Project Refresh since July
14, 2004. He has spent 34 years working within the retail
industry in local and international roles in India and China. Prior to joining
Myer, Mr. Brookes served as a Management Director of Woolworths and was a Chief
Architect of Woolworths’ Project Refresh. His Woolworths experience also
included a variety of general management positions in three states across the
Buying, IT, Marketing and Operations departments. Mr. Brookes has also held a
number of roles as president and executive of various industry
organisations
including Retail Traders Association in Queensland and
Victoria and President of the Queensland Grocery
Association, and he has assisted on a number of charitable and government
ventures
and committees. He has received many awards, including Food
Week Retail Executive of the Year, National Retail Association Food Industry
Executive of the Year and Food Week Buyer of the Year for four years during the
1980s and 1990s. Mr. Brookes has been a Director of Myer Holdings Limited,
since July 12, 2006. Mr. Brookes is patron of the Australian Joe Berry Memorial
Award and the Australian representative judge of the World Retail Awards. He
holds Bachelor
of
Arts and Diploma of Education degrees from Macquarie University.
Name : Mark Stephen Ashby
Designation : Director
Appointment
date : 30/06/11
Address : 1 Lakewood Court
MacLeod,
VIC 3085
Australia
Biography : Born on 15-03-1960 in Melbourne, Victoria, Australia.
Mark
was appointed Chief Financial Officer (CFO) of Myer in January
2008. As CFO, Mark’s responsibilities cover all accounting,
treasury management, taxation, compliance and internal audit aspects of the
business. In addition Mark has responsibility for Procurement and the Financial
Services division of Myer.Prior to joining Myer, Mark was CFO of Mitre 10, the
Finance Director of Motorola and a Finance Director in a number of
organisations in retail and technology.
Mark
is a fellow of CPA Australia and a member of the Australian
Institute of Company Directors.
Name : Gregory James Travers
Designation : Director
Appointment
date : 30/06/11
Address : 24 Scott Grove
Glen
Iris, VIC 3146
Australia
Biography : Born on 24-07-1958 in Adelaide, South Australia, Australia.
Greg has 29 years of industry experience and was appointed a
Director of Strategic Planning and Human Resources in June 2006. In his role,
Greg oversees the human resource management of the Company including
organisational development, recruitment and
training, employee relations, risk and safety, the procurement
function and the development of the Company‘s strategic planning
framework.
Previously, Greg spent 11 years with WMC Resources, where he
held the role of Executive General Manager, Group Services, responsible for human
resources, risk and safety, procurement, IT, corporate affairs and business
services. Prior to his time at WMC Greg worked for seven years at the Pratt
Group in operations and human resources and seven years at BHP in various human
resources roles.
Greg
was previously a Director of Australian Mines and Metals
Association
and a Director of the Institute for Public Affairs.
Name : Marion
Joan Rodwell Designation : Company Secretary Appointment date : 02/04/08
Address : 168 Napier Street
South
Melbourne, VIC 3205
Australia
Biography : Born on 28-01-1963 in Melbourne, Victoria, Australia.
Marion has 22 years of commercial experience and was
appointed General Counsel and Company Secretary in 2008. As General Counsel Marion
manages the legal function of Myer, incorporating internal legal advice for the
Company and management of the legal group. In addition, Marion is Company
Secretary of all companies in the Myer Group.
She has extensive corporate, commercial, litigation and
governance experience having held General Counsel and Company Secretary roles
in the financial services, gaming and retail industries over many years.
Previously Marion held the role of General Counsel and Company Secretary of
Tattersall’s and prior to that, she was general counsel and Company Secretary
of IOOF. Marion was heavily involved in the IPO of Tattersall’s in 2005 and has
negotiated numerous joint venture and supply arrangements within Australia and
internationally.
Marion holds a Bachelor of Laws, Bachelor of Economics and
is a member of the Law Institute of Victoria and the Australian Corporate
Lawyers Association.
Staff employed : 13,000 employees (Myer Group)
Key Advisors
Auditors PRICEWATERHOUSECOOPERS
Level 19, Freshwater Place
2
Southbank Boulevard
Southbank,
VIC 3006
Australia
SHARE CAPITAL
Composition
Authorized Capital : AUD 841,532,130
No of shares : 26,465 Cumulative Non Participating Non
Redeemable Preference Shares /
958,200
Ordinary Shares / 100 Redeemable A Preference Shares / 8,410,000
Redeemable
Preference Shares
Share par value : AUD 2 for Cumulative Non Participating
Non Redeemable Preference Share / AUD 0.5 for Ordinary Share / AUD 1 for Redeemable
A Preference Share / AUD
100
for Redeemable Preference Share
Issued capital : AUD 841,532,130
Paid
up capital : AUD 841,532,130
OWNERSHIP / SHAREHOLDERS
How listed : Full List
Composition
Shareholder name : MYER GROUP PTY LTD
Address : 800 Collins Street
Docklands, VIC 3008
Australia
No. of shares : 26,465 Cumulative Non Participating Non
Redeemable Preference Shares /
958,200
Ordinary Shares / 100 Redeemable A Preference Shares / 5,910,000
Redeemable
Preference Shares
Shareholder name : THE MYER EMPORIUM PTY LTD
Address : 800 Collins Street
Docklands,
VIC 3008
Australia
No. of shares : 2,500,000 Redeemable Preference Shares
RELATED COMPANIES &
CORPORATE AFFILIATIONS
Structure
Name : MYER
HOLDINGS LIMITED
Affiliation type : Ultimate
Holding Company
Address : 800
Collins Street
Docklands, VIC 3008
Australia
Comments : Myer
Holdings Limited engages in the operation of department stores in Australia.
The company
offers approximately 600,000 product lines across 11 product categories
comprising 2,400 brands. Its product categories include womenswear, menswear,
youth fashion, childrenswear, intimate apparel, homewares, electrical
goods,
toys, fashion accessories, and general merchandise, as well as beauty,
fragrance, and cosmetics. The company also provides retail customer loyalty
programs. It operates approximately 67 stores under the MYER brand name.
Myer Holdings Limited was founded in 1900 and is based in
Docklands, Australia.
Name : MYER
GROUP PTY LTD
Affiliation type : Parent
Company
Address : 800
Collins Street
Docklands, VIC 3008
Australia
Name : THE
MYER EMPORIUM PTY LTD
Affiliation type : Minority
Shareholder
Address : 800
Collins Street
Docklands, VIC 3008
Australia
Name : MYER
GROUP FINANCE LIMITED
Affiliation type : Sister
Company
Address : 800
Collins Street
Docklands, VIC 3008
Australia
Name : MYER
SOURCING ASIA LTD
Affiliation type : Sister
Company
Address : 13/F
Gloucester Tower, The Landmark
15 Queen’s Road
Central
Hong Kong
Name : MYER
TRAVEL PTY LTD
Affiliation type : Sister
Company
Address : 800
Collins Street
Docklands, VIC 3008
Australia
Name : BOOGIE
& BOOGIE PTY LTD
Affiliation type : Sister
Company
Address : Studio
5 32 Ralph Street
Alexandria, NSW 2015
Australia
Name : WAREHOUSE
SOLUTIONS PTY LTD
Affiliation type : Sister
Company
Address : 800
Collins Street
Docklands, VIC 3008
Australia
Name : NB
COLLINS PTY LTD
Affiliation type : Sister
Company
Address : 800
Collins Street
Docklands, VIC 3008
Australia
Name : NB
RUSSELL PTY LTD
Affiliation type : Sister
Company
Address 800 Collins Street Docklands, VIC 3008
Australia
Related companies and corporate affiliations
comments
Other companies of the Myer Group
should be considered affiliates of the
Subject
BANK & MORTGAGES
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: 80367
Date Registered: 25-05-1984
Charge type: Floating
Date Created: 19-04-1984
Chargees Name: PERPETUAL TRUSTEES
VICTORIA LIMITED
ASIC Charge Number: 83604
Date Registered: 20-11-1967
Date Created: 08-11-1967
Chargees Name: PERPETUAL TRUSTEES
VICTORIA LIMITED
ASIC Charge Number: 1321498
Date Registered: 05-07-2006
Charge type: Both Fixed &
Floating
Date Created: 03-07-2006
Chargees Name: NATIONAL AUSTRALIA
BANK LIMITED
ASIC Charge Number: 1321500
Date Registered: 05-07-2006
Charge type: Both Fixed &
Floating
Date Created: 30-06-2006
Chargees Name: NATIONAL AUSTRALIA
BANK LIMITED
ASIC Charge Number: 1321502
Date Registered: 05-07-2006
Charge type: Both Fixed &
Floating
Date Created: 30-06-2006
Chargees Name: NATIONAL AUSTRALIA
BANK LIMITED
Legal Fillings
Bankruptcy fillings :
None reported.
Court judgements :
None reported.
Tax liens : None
reported.
Others : None
reported.
FINANL DATA
Description
Source of financial statement : Public
Record Sources
Financial statement date :
30/07/11
Type of accounts : Full audited
Currency :
Australia Dollar (AUD)
Exchange rate : 1 USD = AUD 0.92 as of 08-02-2012
Summarized Financial Information
Consolidation type : Group
Consolidated Group
Consolidated
Currency : Australia
Dollar (AUD) Australia Dollar (AUD)
Denomination : (x1)
One (x1)
One
Date of financial year end : 30/07/11 30/07/10
Length of accounts : 12
months 12
months
Sale turnover / Income : 3,158,774,000 3,324,240,000
Gross profit : 1,271,630,000 1,317,710,000
Profit before tax : 224,657,000 228,460,000
Net income : 159,665,000 67,182,000
Non current assets : 1,531,211,000 1,471,222,000
Current assets : 446,751,000 482,692,000
Inventories : 381,261,000 352,813,000
Total assets : 1,977,962,000 1,953,914,000
Current liabilities : 552,190,000 557,414,000
Non current liabilities : 564,442,000 539,060,000
Total liabilities : 1,116,632,000 1,096,474,000
Share equity : 861,330,000 857,440,000
Retained earning : 349,396,000 320,470,000
Comments : The
group’s consolidated financial information above relates to the Subject’s
Ultimate Holding Company Myer Holdings Limited and all its subsidiaries which
include the Subject.
OPERATION DETAILS
Main activities : The
Subject is engaged in operation of Myer department stores in Australia. It
offers womenswear, menswear, youth fashion, childrens wear, beauty, fragrance
and cosmetics, homewares, electrical goods, toys, fashion accessories and
general merchandise products.
The Subject has stores in Western
Australia, South Australia, Queensland, New South Wales, Australian Capital Territory,
Victoria, and Tasmania in Australia.
The Subject operates as a
subsidiary of Myer Group Pty. Ltd. and is ultimately owned by Myer Holdings
Limited, a public listed company on Australia Stock Exchange.
Myer is Australia’s largest
department store group and offers more than
600,000 product lines comprising
2,400 brands sourced from over 800 suppliers globally. Myer Holdings Limited
operates 67 stores across Australia with a turnover in excess of AUD 3 billion
in 2011.
Product & services :
Womenswear Menswear Youth fashion
Childrens wear
Intimate apparel
Beauty, fragrance and cosmetics
Homewares Electrical goods Toys
Fashion accessories
General merchandise
Brand : Myer
Purchases
International : Worldwide
Sales
Local : Yes
International : No exports.
Key
events : Myer to Close Department Store in
Tuggeranong in Canberra
16
December 2011
Myer announced that it will close its department store in Tuggeranong in Canberra as the company's data suggests residents are shopping at the Canberra City store. Myer will not renew the lease at its Tuggeranong
store, and it is likely to close by May 2012. The company would redeploy all permanent employees with new positions at the Canberra City and Belconnen stores.
National Australia Bank Limited Acquires Stake In Myer Holdings Limited
Monday, 12 Dec 2011
Myer Holdings Limited announced that National Australia Bank Limited and its associated entities have acquired 30,005,960 ordinary shares in the Company, which represents 5.143% of the voting power.
Myer Holdings Limited Announces Holding Interest Of Schroder Investment
Management Australia Limited
Monday, 26 Sep 2011
Myer Holdings Limited announced that Schroder Investment Management
Australia Limited has ceased to be substantial shareholder of the
Company. Earlier, Schroder Investment Management Australia Limited had
5.14% interest in voting power of the Company.
Myer Holdings Limited Announces FY 2011 Final Dividend
Wednesday, 14 Sep 2011
Myer Holdings Limited announced a final dividend of AUD 0.115 per share for the year ended June 30, 2011 (2010: AUD 0.115 per share). The record date is September 30, 2011 and the dividend will be paid on November 16, 2011.
Myer Holdings Limited Announces Holding Interest Of Harris Associates
L.P.
Tuesday, 2 Aug 2011
Myer Holdings Limited announced that Harris Associates L.P. has an interest of 29,585,800 ordinary shares, which represents 5.08% of voting power in the Company.
Myer Holdings Limited Reconfirms FY 2011 NPAT Guidance
Wednesday, 13 Jul 2011 07:22pm EDT
Myer Holdings Limited announced that it expect net profit after tax (NPAT)
for fiscal 2011 to be up to 5% below last year's NPAT of AUD 169 million.
Myer Holdings Limited Announces Holding Interest Of The Capital Group
Companies, Inc. Wednesday, 18 May 2011
Myer Holdings Limited announced that The Capital Group Companies, Inc. has ceased to be substantial shareholder of the Company. Earlier, The Capital Group Companies, Inc. had an interest of 5.26% of voting power in the Company.
Myer Holdings Limited Announces Voting Power Of BT Investment
Management Limited
Wednesday, 16 Feb 2011
Myer Holdings Limited announced that BT Investment Management Limited is holding 30,002,877 ordinary shares, representing 5.15% of the voting power in the Company.
Myer Holdings Limited To Acquire 65% Stake In Sass & Bide
Sunday, 6 Feb 2011
Myer Holdings Limited (Myer) announced that it will acquire a 65% stake in sass & bide (sass & bide), one of Australia's women's fashion brands, for AUD 42.25 million. Myer will have exclusive department store rights to distribute this designer brand, as well as benefiting from the expansion of both sass & bide's standalone store network, and its domestic and international wholesale businesses. It is planned that sass & bide will be
launched in approximately 30 Myer stores over the next 18 months. The transaction is expected to complete in April 2011, and is subject to customary transaction conditions being satisfied.
Myer Holdings Limited Issues H1 2011 NPAT Guidance; Lowers FY 2011
NPAT Guidance
Sunday, 6 Feb 2011
Myer Holdings Limited announced that in November 2010, Myer stated that net profit after tax (NPAT) for fiscal 2011 was anticipated to grow between five and 10% assuming no further deterioration of trading conditions. Its preliminary expectation for NPAT for the first half of 2011 is in the range of AUD 106 to AUD 109 million. Allowing for the continuation of the subdued consumer environment, the Company now expect the fiscal 2011 NPAT to be up to 5% less than last year compared with proforma NPAT of AUD 169 million in fiscal 2010.
Property &
Assets
Premises : The Subject operates from head office
located at the verified heading address consisting of administrative office.
Branches : In addition, the Subject operates from
67 department stores located at across Australia.
SUMMARIZED COUNTRY RISK
Gross Domestic Products (GDP) & Economic
Overview
Central bank : Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product - GDP : US$ 1.448 trillion
GPP (Purchasing power parity) : 918.529 billion of International dollars
GDP per capita - current prices : US$ 64,351
GDP - composition by sector : agriculture: 4.1%
industry: 26%
services: 70%
Inflation : 2008: 4.4%
2009: 1.8%
2010: 2.8%
Unemployment rate : 2008: 4.2%
2009: 5.6%
2010: 5.2%
Public debt
(General Government gross debt as a % GDP)
2008: 11.6%
2009: 17.6%
2010: 22.3%
Government bond ratings Standard & Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook
Market value of publicly traded shares US$1.258 trillion
Largest companies in the country: Westpac Banking Group (Major Banks), BHP Billiton (Diversified Metals & Mining), Commonwealth Bank (Major Banks), National Australia Bank (Major Banks), ANZ Banking (Major Banks), Telstra (Telecommunications services), Wesfarmers (Food Retail)
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 : 2008:
US$46,722 million
2009: US$22,572 million
2010: US$32,472 million
FDI Outflows : 2008: US$32,819 million
2009:
US$18,426 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 : 76.00%
HISTORY
Purchase Term
International : L/C, Prepayment, Credit up to 120 days
Sales Term
Local : Cash, Credit card
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.28 |
|
|
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.65.58 |
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.