|
Report Date : |
15.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
SANDEN INTERNATIONAL (MALAYSIA) SDN BHD |
|
|
|
|
Registered Office : |
Lot Plo 212, Jalan Besar Pasir Gudang Johor Darul Takzim 81700 |
|
|
|
|
Country : |
Malaysia |
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
10.12.1979 |
|
|
|
|
Com. Reg. No.: |
53025-T |
|
|
|
|
Legal Form : |
Private Company Limited By Shares |
|
|
|
|
Line of Business : |
Manufacturer of automotive air-conditioning compressor and electro-magnetic clutch. |
|
|
|
|
No. of Employees : |
170 employees (Subject); 9,800 (Sanden Group) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 500,000 |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No Complaints |
|
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) |
|
Malaysia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Verified Address
Subject name : SANDEN INTERNATIONAL (MALAYSIA) SDN BHD
Business address : Lot Plo 212, Jalan Besar
Town : Pasir Gudang
Province : Johor Darul Takzim
Zip/postal code : 81700
Country : Malaysia
Tel : +60 7 2513501
Fax : +60 7 2513507
Website : www.sanden.co.jp
Registered address : C/o FAA CORPORATE ADVISORY SDN BHD A-6-1/1, Block A Megan Avenue 1
189, Jalan Tun Razak
Town : Kuala Lumpur
Province : Wilayah Persekutuan
Zip/postal code : 50400
Country : Malaysia
Postal address : P.O. Box 24
Town : Pasir Gudang
Province : Johor Darul Takzim
Zip/postal code : 81707
Country : Malaysia
Executive Summary
Date founded or registered : 10/12/1979
Legal form : Private Company Limited By Shares
Chief executive : Kazutake Kuwabara
Issued & paid up capital : MYR 2,500,000
Sales turnover : MYR 76,769,898 (Non-consolidated 12 months, 31/03/2011)
Net income : MYR 2,723,827 (Non-consolidated 12 months, 31/03/2011)
Total fixed assets : MYR 28,188,599 (Non-consolidated 12 months, 31/03/2011)
Line of business : Manufacturer of automotive air-conditioning compressor and electro-magnetic clutch.
Staff employed : 170 employees (Subject); 9,800 (Sanden 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 records found
Payment history : No payment delays noted
Credit amount suggestion: USD 500,000
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.
Registry Data
Registration date : 10/12/1979
Legal form : Private Company Limited By Shares
Registration no 53025-T
Registered authority : Companies Commission of Malaysia
Registry status : Live/Active
Previous name : The Subject was established under the name SANKYO INTERNATIONAL (MALAYSIA) SDN. BHD. and changed to the current style on 27-02-1985.
Change of legal form : None reported.
Key Management
Name : Kazutake Kuwabara
Designation : Managing Director
Name : Abdul Wahab Bin Hussin
Designation : General Manager
Appointments
Name : Tunku Dato' Seri Adnan Bin Tunku Besar Burhanuddin
Designation : Director
Identification no : 270811-05-5049
Appointment date : 28/03/04
Address : 24, Persiaran Bruas
Bukit Damansara
50490 Kuala Lumpur Wilayah Persekutuan Malaysia
Name : Dato' Lau Peng Kheng
Designation : Director
Identification no : 480913-10-5743
Appointment date : 23/06/08
Address : 21, Jalan SS 4A/3
Kelana Jaya
47301 Petaling Jaya Selangor Darul Ehsan Malaysia
Name : Lee Hung Dhong
Designation : Director
Identification no : 720613-07-5183
Appointment date : 10/03/11
Address : 295 Punggol Central
#09-507
Singapore 820295
Singapore
Name : Yuichi Yasui
Designation : Director
Identification no : MS3459282
Appointment date : 10/06/11
Address : C/o SANDEN CORPORATION
1-31-7, Taito
Taito-ku, 110-8555 Tokyo
Japan
Name : Haruhiko Oshima
Designation : Director
Identification no : TH8367160
Appointment date : 04/01/11
Address : 1553-1, Miyamae-cho
Isesaki-shi, Gunma Prefecture
Japan
Name : Kazutake Kuwabara
Designation : Director
Identification no : TH4296608
Appointment date : 21/07/10
Address : 04-E1, Block C, Straits View Condominium
Jalan Permas Selatan, Bandar Baru Permas Jaya
81750 Johor Bahru Johor Darul Takzim Malaysia
Name : Fawzi Bin Abd Aziz
Designation : Company Secretary
Identification no : 630325-05-5787
Appointment date : 19/06/00
Address : Greencourt Panorama 6
Persiaran Cinta Kasih 2
Country Heights
43000 Kajang Selangor Darul Ehsan Malaysia
Staff employed : 170 employees (Subject); 9,800 (Sanden Group)
Key Advisors
Auditors : ERNST & YOUNG
Level 23A, Menara Milenium
Jalan Damanlela
Pusat Bandar Damansara
Damansara Heights
50490 Kuala Lumpur Wilayah Persekutuan Malaysia
Composition
Authorized Capital : MYR 3,000,000
No of shares : 3,000,000 Ordinary Shares
Share par value : MYR 1
Issued capital : MYR 2,500,000
Paid up capital : MYR 2,500,000
How listed : Full List
Composition
Shareholder name : SANDEN CORPORATION
Address : 1-31-7, Taito
Taito-ku, 110-8555 Tokyo
Japan
No. of shares : 1,000,000 Ordinary Shares
Shareholder name : SANDEN INTERNATIONAL (SINGAPORE) PTE LTD
Address : Sanden House, 25
Ang Mo Kio Street 65
Singapore 569062
Singapore
No. of shares : 1,500,000 Ordinary Shares
Structure
Name : SANDEN CORPORATION
Affiliation type : Ultimate Holding Company
Address : 1-31-7, Taito,
Taito-ku, 110-8555 Tokyo
Japan
Comments : Sanden Corporation engages in the manufacture and sale of automotive and commercial store systems in Japan, rest of Asia, Europe, and North America. Its products include automotive systems consisting of car air conditioning compressors and heat exchangers, as well as heating, ventilation, and air conditioning unit; and retail systems comprising refrigerated and freezer showcases for various outlets from small-scale shops to shopping malls, as well as store management services, including designing of store layout and maintenance of merchandise after the store is opened. The company’s products also comprise vending machines for various merchandise, including cold beverages, milk beverages, coffee, tea, flex venders, ice-cream, and cup-noodles; living and environment systems, such as central heating systems, oil heaters, bathroom dryers, and road heating systems; and wireless communication adopter and M2M wireless remote monitoring devices. The company was formerly known as Sankyo Electric Co., Ltd. and changed its name to Sanden Corporation in October 1982. Sanden Corporation was founded in
1943 and is headquartered in Gunma, Japan.
Name : SANDEN INTERNATIONAL (SINGAPORE) PTE. LTD.
Affiliation type : Parent Company
Address : Sanden House, 25
Ang Mo Kio Street 65
Singapore 569062
Singapore
Comments : Manufacturing and marketing of automobile components.
Name : SANDEN INTERNATIONAL (U.S.A.) INC.
Affiliation type : Sister Company
Address : 601 South Sanden Boulevard
Wylie, Texas 75098-4999
United States
Comments : Manufacturing and marketing of automobile components.
Name : SANDEN INTERNATIONAL (EUROPE) LTD.
Affiliation type : Sister Company
Address : Rosewood, Crockford Lane, Chineham Park
Basingstoke, RG24 8UT United Kingdom
Comments : Manufacture and marketing of automobile components.
Name : SANDEN OF EUROPE GMBH
Affiliation type : Sister Company
Address : Am Taubenbaum 35-37
61231 Bad Nauheim
Germany
Comments : Provision of management administration and fund procurement and management services to Europe-based subsidiaries of the Company.
Name : SANDEN INTERNATIONAL TAIWAN CORPORATION
Affiliation type : Sister Company
Address : No. 2, 68 Alley, Nai Si Road
Lu Chu Hsiang, Tao Yuan Hsien
Taiwan
Comments : Marketing of automobile and Commercial Store Systems Business equipment components.
Name : SANDEN MANUFACTURING EUROPE, S.A.S
Affiliation type : Sister Company
Address : Le Quilliou
35190 Tinteniac
France
Comments : Manufacture and marketing of automobile components.
Name : SANDEN (SUZHOU) PRECISION PARTS CO., LTD.
Affiliation type : Sister Company
Address : Western side of Jinniu Road and the southern side of Linhu Road, Fenhu
Economic Development Zone, Wujiang County, Jiangsu Province
China
Comments : Manufacture of automobile components.
Name : P.T. SANDEN INDONESIA
Affiliation type : Sister Company
Address : Kawasan Industri Suryacipta Swadaya Block A No.5, Desa Kuta Mekar Karawang
Indonesia
Comments : Manufacture and marketing of automobile components.
Name : SANDEN AIR CONDITIONING (MALAYSIA) SDN BHD
Affiliation type : Sister Company
Address : 16, Jalan U1/15
Section U1-Hicom-Glenmarie Industrial Park
40000 Shah Alam Selangor Darul Ehsan Malaysia
Comments : Manufacture of automobile components.
Related companies and corporate affiliations comments: Other companies of the Sanden Group should be considered affiliates of the Subject.
Bank Details
Name of bank : HSBC Bank (Malaysia) Bhd
Address : Malaysia
Account details : Current Account
Name of bank : Bank of Tokyo-Mitsubishi UFJ (M) Bhd
Address : Malaysia
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 : Total of Charge: 1,200,000.00
Date of Creation: 14-05-1985
Name of Chargee: HSBC BANK MALAYSIA BERHAD Charge Status: FULLY RELEASED
Total of Charge: 3,000,000.00
Date of Creation: 17-07-1985
Name of Chargee: THE CHASE MANHATTAN BANK NA Charge Status: UNSATISFIED
Total of Charge: 1,900,000.00
Date of Creation: 17-07-1985
Name of Chargee: THE FUJI BANK LTD Charge Status: UNSATISFIED
Total of Charge: OPEN CHARGE Date of Creation: 17-07-1985
Name of Chargee: THE CHASE MANHATTAN BANK NA Charge Status: UNSATISFIED
Total of Charge: 6,100,000.00
Date of Creation: 29-10-1985
Name of Chargee: THE CHASE MANHATTAN BANK NA Charge Status: UNSATISFIED
Total of Charge: 1,200,000.00
Date of Creation: 24-02-1987
Name of Chargee: HONGKONG BANK MALAYSIA BHD Charge Status: UNSATISFIED
Total of Charge: 1,500,000.00
Date of Creation: 24-02-1987
Name of Chargee: THE FUJI BANK LTD Charge Status: UNSATISFIED
Total of Charge: 1,900,000.00
Date of Creation: 20-02-1987
Name of Chargee: THE FUJI BANK LIMITED Charge Status: UNSATISFIED
Total of Charge: 3,000,000.00
Date of Creation: 05-04-1989
Name of Chargee: UNITED MALAYAN BANKING CORP BHD Charge Status: UNSATISFIED
Total of Charge: 3,383,321.00
Date of Creation: 12-11-1999
Name of Chargee: HSBC BANK MALAYSIA BERHAD Charge Status: UNSATISFIED
Total of Charge: 3,383,321.00
Date of Creation: 21-10-1999
Name of Chargee: HSBC BANK MALAYSIA BERHAD Charge Status: FULLY RELEASED
Total of Charge: 7,100,000.00
Date of Creation: 10-01-2001
Name of Chargee: HSBC BANK MALAYSIA BERHAD Charge Status: UNSATISFIED
Total of Charge: 7,100,000.00
Date of Creation: 01-01-2001
Name of Chargee: HSBC BANK MALAYSIA BERHAD Charge Status: FULLY RELEASED
Total of Charge: 7,100,000.00
Date of Creation: 01-01-2001
Name of Chargee: HSBC BANK MALAYSIA BERHAD Charge Status: UNSATISFIED
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 : 31/03/11
Type of accounts :
Full audited
Currency : Malaysia, Ringgit (MYR)
Exchange rate : 1 USD = MYR 3.03 as of 13-02-2012
Summarized Financial
Information
Consolidation type : Non Consolidated Non Consolidated Group
Consolidated
Currency
: Malaysia,
Ringgit (MYR) Malaysia,
Ringgit (MYR) Japan, Yen
(JPY)
Denomination : (x1) One (x1) One (x1) One
Date of financial year end : 31/03/11 31/03/10 31/03/11
Length of accounts : 12 months 12
months 12 months
Sale turnover / Income : 76,769,898 69,501,419 216,539,000,000
Gross profit : 6,932,090 4,953,486 40,613,000,000
Operating profit : 5,377,000,000
Profit before tax : 2,798,333 1,953,472 5,857,000,000
Net income : 2,723,827 1,876,393 6,087,000,000
Non current assets : 5,829,186 6,907,932 86,998,000,000
Current assets : 22,359,413 19,374,542 120,927,000,000
Inventories : 11,974,404 8,299,502 33,631,000,000
Total assets : 28,188,599 26,282,474 207,925,000,000
Current liabilities : 14,563,473 13,149,905 106,802,000,000
Non current liabilities : 1,091,958 1,307,431 51,794,000,000
Total liabilities : 15,655,431 14,457,336 158,596,000,000
Share equity : 12,533,168 11,825,138 52,682,000,000
Retained earning : 10,033,168 9,325,138 39,382,000,000
Comments : The non-consolidated financial
information above relates to the Subject only. The group’s consolidated
financial information above relates to the Subject’s Ultimate Holding Company
Sanden Corporation and all its subsidiaries which include the Subject.
Main activities : The Subject is engaged in manufacturing & sales of automobile components such as air-conditioning parts.
The Subject manufacturing facility is located at Pasir Gudang, Malaysia. The Subject is part of SANDEN CORPORATION which is a Japan-based
company mainly involved in the manufacture and sale of automotive
equipment and distribution systems. The Company operates in three business segments. The Automotive Equipment segment is involved in the manufacture and sale of car air conditioning systems and compressors for automotive air conditioners. The Distribution System segment manufactures and sells refrigerated showcases, freezer showcases and beverage vending machines. The Others segment is involved in the manufacture and sale of central heating and ventilation systems,
eco-cuteness and two-way/interoperable modems, as well as the logistics and electronic computing businesses. As of March 31, 2011, the Company had 53 subsidiaries and nine associated companies. Sanden Corporation common stock is publicly traded on the Tokyo stock market.
Product & services : Compressor Clutches
Auto Air Conditioning Compressors
Brand : SANDEN
Purchases
International : Asian countries
Sales
Local : Yes
International : Japan, Singapore, Thailand
Key events : SANDEN CORPORATION Lowers Consolidated Full-year Outlook for FY
2012
Monday, 7 Nov 2011
SANDEN CORPORATION announced that it has lowered the consolidated full-year outlook for revenue from JPY 230,000 million to JPY 217,000 million, operating profit from JPY 6,000 million to JPY 2,500 million, ordinary profit from JPY 7,500 million to JPY 3,500 million, net profit from JPY 6,500 million to JPY 3,000 million and earning per share from JPY
47.69 to JPY 22.01 for the fiscal year ending March 31, 2012. The negative outlook is mainly due to the impact of flood occurred in Thailand, and high exchange rate. According to I/B/E/S Estimates, analysts on average were expecting the Company to report full-year revenue of JPY 230.00 billion, operating profit of JPY 5.00 billion and net income of JPY 6.50 billion.
R&I Affirms SANDEN CORPORATION's Rating at "BBB-"; Rating Outlook
Stable
Friday, 3 Jun 2011
Rating and Investment Information, Inc. (R&I) announced that it has affirmed the rating on SANDEN CORPORATION at "BBB-". The rating outlook is stable.
SANDEN CORPORATION to Issue Dividend for FY 2011
Wednesday, 11 May 2011
SANDEN CORPORATION announced that it has decided to issue a
year-end dividend of JPY 7.50 per share (JPY 1,025 million in total), above the latest forecast of JPY 5.00 per share announced on February 9, 2011, to all the shareholders of record as of March 31, 2011. The dividend will be paid on June 24, 2011.
SANDEN CORPORATION Amends Full-year Consolidated Outlook for FY Ending March 31, 2011; Applies for Delisting Depositary Receipt from Frankfurt Stock Exchange
Friday, 5 Nov 2010
SANDEN CORPORATION announced that it has amended its full-year consolidated outlook for revenue from an undetermined value to JPY
210,000 million, operating profit from an undetermined value to JPY 6,500 million, ordinary profit from an undetermined value to JPY 7,500 million, net profit from an undetermined value to JPY 6,000 million and earning per share from an undetermined value to JPY 44.02 for the fiscal year ending March 31, 2011. The Company amended its full-year outlook mainly due to the condition of mid-year consolidated outlook. The Company also has decided to apply for delisting its depositary receipt from the Frankfurt Stock Exchange due to the sluggish trade. The application will be submitted after November 2010.
SANDEN CORPORATION Raises Consolidated Mid-year Outlook for FY Ending March 2011
Thursday, 5 Aug 2010
SANDEN CORPORATION announced that it has raised its consolidated mid-year outlook for revenue from JPY 97,000 million to JPY 105,000 million, operating profit from JPY 2,500 million to JPY 4,500 million, ordinary profit from JPY 2,800 million to JPY 5,000 million, net profit from JPY 1,700 million to JPY 4,500 million and earning per share from JPY
12.47 to JPY 33.01 for the fiscal year ending March 2011. This is due to the more-than-expected sales.
SANDEN CORPORATION to Issue Year-end Dividend for FY Ended
March 2010
Tuesday, 25 May 2010
SANDEN CORPORATION announced that it has decided to issue dividend of JPY 5.00 per share, in line with the latest forecast of JPY 5.00 per share announced on March 24, 2010, to all the shareholders of record as of
March 31, 2010, effective June 24, 2010.
R&I Affirms Rating on SANDEN CORPORATION at "BBB-"; Rating Outlook
Stable
Wednesday, 12 May 2010
Rating Investment Information, Inc. announced that it has affirmed the
rating on SANDEN CORPORATION at "BBB-". The rating outlook is stable.
SANDEN CORPORATION Amends Year-end Dividend Forecast for FY Ending March 2010
Wednesday, 24 Mar 2010
SANDEN CORPORATION announced that it has amended its year-end dividend forecast from an undetermined value, which was announced on February 10, 2010, to JPY 5.00 per share, for the fiscal year ending March
2010.
Property & Assets
Premises : The Subject operates from premises located at the verified heading address consisting of production facilities, administrative office and warehouse.
Branches : None reported.
Other property : Total NBV of property, plant and equipment as of 31-03-2011 was MYR
4,686,154.
Gross Domestic Products (GDP) & Economic Overview
Central bank : Central Bank of Malaysia
Reserve of foreign exchange & gold : US$ 133.7 billion as of 13 January 2012
Gross domestic product - GDP : US$ 247.781 billion
GPP (Purchasing power parity) : US$ 442.01 billion of International dollars
GDP per capita - current prices : US$ 8,624
GDP - composition by sector : agriculture: 9.4% industry: 40.9% services: 49.7%
Inflation : 2008: 5.4%
2009: 0.6%
2010: 1.7%
Unemployment rate : 2008: 3.3%
2009: 3.6%
2010: 3.3%
Public debt
(General Government gross debt as a % GDP) : 2008: 42.8%
2009: 55.4%
2010: 54.2%
Government bond ratings : Standard & Poor's: A-/Stable/A-2
Moody's rating: A3
Moody's outlook: STA
Market value of publicly traded shares: US$420 billion
Largest companies in the country : CIMB Group Holdings (Banking), Sime Darby (Conglomerates), Public Bank Berhad (Banking), Maybank (Banking), Tenaga Nasional Berhad(Utilities), Petronas Chemicals, Maxis Berhad
Trade & Competitiveness Overview
Total exports : US$210.3 billion
Exports commodities : electronic equipment, petroleum and liquefied natural gas, wood and wood products, palm oil, rubber, textiles, chemicals
Total imports : US$156.2 billion
Imports commodities : electronics, machinery, petroleum products, plastics, vehicles, iron and steel products, chemicals
Export - major partners : US 15.6%, Singapore 14.6%, Japan 9.1%, China 8.8%, Thailand 5%, Hong
Kong 4.6%
Import - major partners : Japan 13%, China 12.9%, Singapore 11.5%, US 10.8%, Taiwan 5.7%, Thailand 5.3%, South Korea 4.9%, Germany 4.6%, Indonesia 4.2%
FDI Inflows : 2007: US$8,538 million
2008: US$7,318 million
2009: US$1,381 million
FDI Outflows : 2007: US$11,280 million
2008: US$14,988 million
2009: US$8,038 million
Best countries for doing business: 21 out of 183 countries
Global competitiveness ranking : 26 (ranking by country on a basis of 133, the first is the best)
Country and Population Overview
Total population : 28.23 million
Total area : 329,847 km2
Capital : Kuala Lumpur
Currency : Malaysia Ringgits (MYR)
Internet users as % of total population: 57.61%
Purchase Term
Local : Prepayment, Bank transfer, Credit 30-90
days
International : L/C, Prepayment, Telegraphic transfer,
Credit 30-90 days
Sales Term
Local : Prepayment, Bank transfer, Credit 30-90
days
International : L/C, Prepayment, Telegraphic transfer,
Credit 30-90 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.33 |
|
|
1 |
Rs.77.41 |
|
Euro |
1 |
Rs.64.84 |
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.