MIRA INFORM REPORT

 

Report Date :

04.01.2012

 

IDENTIFICATION DETAILS

 

Name :

PERUSAHAAN KIMIA GEMILANG SDN. BHD.

 

 

Registered Office :

302, Block A Pusat Dagangan Phileo Damansara 1 No. 9, Jalan 16/11, Off Jalan Damansara Petaling Jaya Selangor Darul Ehsan 46350

 

 

Country :

Malaysia

 

 

Financials (as on) :

31.05.2011

 

 

Date of Incorporation :

30.03.1982

 

 

Com. Reg. No.:

82890-D

 

 

Legal Form :

Private Company Limited By Shares

 

 

Line of Business :

Trading of petroleum based products and industrial chemicals.

 

 

No. of Employees :

35 employees (Subject); 667 employees (Nylex 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 6,000,000

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

 

IDENTIFICATION DETAILS

 

Verified Address

 

Subject name                            :           PERUSAHAAN KIMIA GEMILANG SDN. BHD.

 

Business address                      :           302, Block A

Pusat Dagangan Phileo Damansara 1

No. 9, Jalan 16/11, Off Jalan Damansara

 

Town                                         :           Petaling Jaya

Province                                    :           Selangor Darul Ehsan

Zip/postal code                          :           46350

Country                                     :           Malaysia

Tel                                            :           +60 3 76600033

Fax                                           :           +60 3 76600133

Website                                    :           www.nylex.com

 

 

Registered address                    :           C/o TRICOR SERVICES (MALAYSIA) SDN BHD Level 18, The Gardens   North Tower

Mid Valley City

Lingkaran Syed Putra

Town                                         :           Kuala Lumpur

Province                                    :           Wilayah Persekutuan

Zip/postal code                          :           59200

Country                                                                                   :                       Malaysia

           

 

SUMMARY DETAILS

 

Executive Summary

 

Date founded or registered          :   30/03/1982

 

Legal form                                 :   Private Company Limited By Shares

 

Chief executive                          :   Dato' Siew Ka Wei

 

Issued & paid up capital             :   MYR 2,213,000

Sales turnover                            :   MYR 429,604,070 (Non-consolidated 12 months, 31/05/2011)

Net income                                :   MYR 12,834,471 (Non-consolidated 12 months, 31/05/2011)

Total fixed assets                       :   MYR 164,889,345 (Non-consolidated 12 months, 31/05/2011)

Line of business             :   Trading of petroleum based products and industrial chemicals.

Staff employed                           :   35 employees (Subject); 667 employees (Nylex Group)

 

 

CREDIT RISK OPINION

 

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 6,000,000

 

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            :   30/03/1982

 

Legal form                     :   Private Company Limited By Shares

 

Registration no                          82890-D

 

Registered authority       :   Companies Commission of Malaysia

Registry status              :   Live/Active

Previous name               :   None reported.

Change of legal form       :   None reported.

 

 

MANAGEMENT / DIRECTORS

 

Key Management

 

Name                            :           Dato' Siew Ka Wei

Designation                   :           Managing Director

 

Name                            :           Robin Ling Seng Chiong

Designation                   :           General Manager

 

Name                            :           Vincent Tan

Designation                   :           Sales Manager

BOARD OF DIRECTORS/ OTHER APPOINTMENTS

 

Appointments

 

Name                            :           Dato' Siew Ka Wei

Designation                   :           Director

Identification no              :           551219-71-5125

Appointment date           :           07/03/92

Address                        :           3, Lorong Nusa 2

Taman Duta

50480 Kuala Lumpur Wilayah Persekutuan Malaysia

Biography                      :           Dato’ Siew graduated with a Bachelor of Science (Hons) degree in

Chemical

Engineering and a Master of Science degree in Operational Research from the Imperial College of Science, Technology and Medicine, London, United Kingdom. He has extensive working experience in the field of petrochemicals locally and internationally for more than 30 years. He was the Chairman of the Malaysian Chapter of the Young Presidents Organisation (“YPO”), an international grouping of more than 10,500 chief executive officers and leaders of major companies and organisations over the world. He became a director of the International Board of Directors of YPO in 2000 and served until 2003 during which he was the Chairman of YPO’s

Global Leadership Congress held in Beijing, China. Dato’ Siew is currently the Group Managing Director of Ancom Berhad and the Deputy Chairman of Ancom Logistics Berhad.

 

 

Name                            :           Dato' Ahmad Johari Bin Abdul Razak

Designation                   :           Director

Identification no              :           541129-06-5107

Appointment date           :           13/05/96

Address                        :           6 Jalan Eaton

50450 Kuala Lumpur

Wilayah Persekutuan

Malaysia

 

Biography                      :           Dato’ Johari graduated with a Bachelor of Law degree from the University of Kent, United Kingdom. He was called to the Bar of England and Wales at Lincoln’s Inn in 1976 and was admitted as an advocate and solicitor of the High Court of Malaya in 1977. He practiced law with Messrs Shearn Delamore & Co from 1979 and was a partner of the firm from 1991 to 1994. He is presently the firm’s Managing Partner and an Adjunct Professor of Law of University Teknologi Mara. Dato’ Johari is currently the Non Executive

Chairman of Ancom Berhad, Chairman of Daiman Development Berhad and a director of Hong Leong Industries Berhad, Daiman Golf Berhad, Deutsche Bank (Malaysia) Berhad and British American Tobacco (Malaysia) Berhad.

 

Dato Ahmad Johari Bin Abdul Razak is the brother of the current

Prime Minister of Malaysia Datuk Seri Najib Razak.

 

 

 

Name                            :           Norzain Bin Abdul Wahab

Designation                   :           Director

Identification no              :           660318-05-5161

Appointment date           :           01/04/97

 

Address                        :           26 Jalan 18

Taman Desa Jaya

52100 Kuala Lumpur Wilayah Persekutuan Malaysia

 

Name                            :           Robin Ling Seng Chiong

Designation                   :           Director

Identification no              :           700909-13-5159

Appointment date           :           01/10/07

Address                        :           155-3-7, Menara Duta Condominium

Jalan 1/38B, Off Jalan Segambut

51200 Kuala Lumpur Wilayah Persekutuan Malaysia

 

Name                            :           Choo Se Eng

Designation                   :           Company Secretary

Identification no              :           610215-01-5401

Appointment date           :           16/02/04

 

Address                        :           11, Lorong PJU 1/46E Aman Suria Damansara

47301 Petaling Jaya Selangor Darul Ehsan Malaysia

 

Name                            :           Wong Wai Foong

Designation                   :           Company Secretary

Identification no              :           660510-10-6838

Appointment date           :           15/03/11

 

Address                        :           1164, Jalan 17/64

Happy Garden

46400 Petaling Jaya Selangor Darul Ehsan Malaysia

 

Name                            :           Lim Lee Kuan

Designation                   :           Company Secretary

Identification no              :           711203-10-5656

Appointment date           :           15/03/11

Address                        :           40,Jalan H-13 Taman Melawati

53100 Kuala Lumpur Wilayah Persekutuan Malaysia

Staff employed               :           35 employees (Subject); 667 employees (Nylex Group)

 

 

Key Advisors

 

Auditors                        :           ERNST & YOUNG

Level 23A, Menara Milenium

Jalan Damanlela

Pusat Bandar Damansara

50490 Kuala Lumpur

Malaysia

 

SHARE CAPITAL

 

Composition

 

Authorized Capital          :   MYR 5,000,000

 

No of shares                  :   5,000,000 Ordinary Shares

 

Share par value              :   MYR 1

 

Issued capital                :   MYR 2,213,000

 

Paid up capital               :   MYR 2,213,000

 

Changed in capital         :   The Subject increased its share capital from MYR 1,000,000 to MYR 5,000,000 on 04-10-1984.

 

 

OWNERSHIP / SHAREHOLDERS

 

How listed                     :   Full List

 

Composition

 

Shareholder name          :   NYLEX (MALAYSIA) BERHAD

 

Address                        :   Lot 16, Persiaran Selangor, Section 15

40200 Shah Alam Selangor Darul Ehsan Malaysia

No. of shares                 :   2,213,000 Ordinary Shares

 

% of shares                            :   100%

 

 

RELATED COMPANIES & CORPORATE AFFILIATIONS

 

Structure

 

Name                :   NYLEX (MALAYSIA) BERHAD

Affiliation type    :   Parent Company

Address            :   Lot 16, Persiaran Selangor, Section 15

40200 Shah Alam Selangor Darul Ehsan Malaysia

Comments        :   Nylex (Malaysia) Berhad (“Nylex”) is a public limited liability company, incorporated and domiciled in Malaysia and listed on the Main Market of Bursa Malaysia Securities Berhad in 1990.

 

Today, it has emerged as a dominant player in the chemicals, plastics and polymers business with an annual turnover of more than RM1.5 billion and over

13 subsidiaries operating mainly in Malaysia, Singapore, Indonesia and Vietnam.

 

 

Nylex is principally involved in investment holding and the manufacture and marketing of vinyl-coated fabrics, calendered film and sheeting and other plastic products, including geotextiles and prefabricated sub-soil drainage systems.

 

Nylex’s subsidiaries are involved in the manufacture and marketing of rotomoulded plastic products including bulk chemical containers, road barriers, playground equipment and disposal bins, distribution, manufacture and sale of petrochemical and industrial chemical products and manufacture and trading of polyvinyl chloride (more commonly known as PVC) and polyurethane ("PU") synthetic leather, films and sheets and metal roofing products.

 

Nylex’s products are widely sold to Europe, the Middle East, more than 15 countries in Asia and to Australia and New Zealand.

 

 

Name                :   DYNAMIC CHEMICAL TRADING PTE LTD

Affiliation type    :   Subsidiary

Address            :   133, Cecil Street

#12-03, Keck Seng Tower

Singapore 069535

Singapore

 

Comments        :   General trading in chemicals of all types.

 

 

Name                :   PERUSAHAAN KIMIA GEMILANG (VIETNAM) COMPANY LTD

Affiliation type    :   Wholly-owned Subsidiary

Address            :   3rd floor, 521-523 Dien Bien Phu Street

Ward 25, Binh Thanh Dist

Ho Chi Minh City

Vietnam

 

Comments        :   Building tank farms, provide storage of industrial chemicals, importation and distribution.

 

Name                :   PT PKG LAUTAN INDONESIA

Affiliation type    :   Subsidiary

Address            :   Gedung Graha Indramas

JI. AIPDA K.S. Tubun Raya No. 77

Jakarta 11410

Indonesia

 

Comments        :   Importation and distribution of industrial chemicals.

 

Name                :   ANCOM KIMIA SDN. BHD.

Affiliation type    :   Subsidiary

Address            :   3A02, Block A, Phileo Damansara 1

No. 9, Jalan 16/11

Off Jalan Damansara

46350 Petaling Jaya Selangor Darul Ehsan Malaysia

Comments      :   Trading in industrial chemicals.

 

 

Name                :   PT NYLEX INDONESIA

Affiliation type    :   Sister Company

Address            :   Desa Sumengko Km31 Kecamatan Wringinanom, Kabupaten Gresik East Java 61176

Indonesia

 

Comments        :   Manufacture, marketing and distribution of PU and PVC leathercloth.

 

Name                :   CKG CHEMICALS PTE LTD

Affiliation type    :   Sister Company

Address            :   133, New Bridge Road

#25-02, Chinatown Point

Singapore 059413

Singapore

 

Comments        :   Trading and distribution of industrial chemicals and gasoline blending components.

 

 

Name                :   FERMPRO SDN BHD

Affiliation type    :   Sister Company

Address            :   202, Block A, Phileo Damansara 1

No. 9, Jalan 16/11

Off Jalan Damansara

46350 Petaling Jaya Selangor Darul Ehsan Malaysia

Comments        :   Manufacture and marketing of ethanol, carbon dioxide and other related chemical products.

 

 

Name                :   SPECIALITY PHOSPHATES (MALAYSIA) SDN BHD

Affiliation type    :   Sister Company

Address            :   Lot 593 & 624, Persiaran Raja Lumu

Kawasan Perusahaan Pandamaran

42000 Port Klang Selangor Darul Ehsan Malaysia

Comments        :   Manufacture and sale of chemicals.

 

 

Name                :   WEDON SDN BHD

Affiliation type    :   Sister Company

Address            :   No. 6, Lorong SS13/6A

Subang Jaya Industrial Estate

47500 Subang Jaya Selangor Darul Ehsan Malaysia

Comments      :   Marketing of sealants and adhesive products.

 

Related companies and corporate affiliations comments:   Other companies of the Nylex Group should be considered affiliates of the Subject. The Nylex Group has operation in Malaysia, Singapore, Indonesia and Vietnam.

 

 

BANK & MORTGAGES

 

Bank Details

 

Name of bank    :   Malayan Banking Berhad

Address            :   Malaysia

Account details  :   Current Account

 

 

Name of bank    :   OCBC Bank (Malaysia) Berhad

Address            :   Malaysia

Account details  :   Current Account

 

 

Name of bank    :   HSBC Bank Malaysia Berhad

Address            :   Malaysia

Account details  :   Current Account

 

 

Name of bank    :   RHB Bank Berhad

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: 5,000,000.00

Date of Creation: 22-06-1988

Name of Chargee: OVERSEA CHINESE BANKING CORP LTD Charge Status: FULLY SATISFIED

 

 

Legal Fillings

 

Bankruptcy fillings          :   None reported.

Court judgements           :   None reported.

Tax liens                       :   None reported.

Others                          :   None reported.

 

 

FINANCIAL DATA

 

Description

 

Source of financial statement               :   Commercial Registry Filings

 

Financial statement date                     :   31/05/11

 

Type of accounts                                :   Full audited

 

Currency                                            :   Malaysia, Ringgit (MYR)

 

Exchange rate                                                                                          :   1 USD = MYR 3.16 as of 02-01-2012

 

 

Summarized Financial Information

 

 Consolidation type                                                :   Non Consolidated     Non Consolidated           Group Consolidated

 

 Currency                                                               :   Malaysia, Ringgit (MYR)       Malaysia, Ringgit (MYR) Malaysia, Ringgit (MYR)

 

  Denomination                                                                                  :   (x1) One                      (x1) One                           (x1) One

 

Date of financial year end                                                                        :   31/05/11                             31/05/10                            31/05/11

 

Length of accounts                                                                                   :   12 months                           12 months                         12 months

 

Sale turnover / Income                                                                             :   429,604,070                        390,999,309                       1,226,749,000

 

Gross profit                                                                                              :   35,331,994                          41,237,960                        120,942,000

 

Operating profit                                                                                        :   19,146,080                          19,741,342                        23,337,000

 

Profit before tax                                                                                        :   17,273,933                          17,974,691                        16,044,000

 

Net income                                                                                               :   12,834,471                          14,540,967                        13,138,000

 

Non current assets                                                                                  :   20,607,001                          18,526,388                        186,677,000

 

Current assets                                                                                         :   144,282,344                        114,349,083                       430,223,000

 

Inventories                                                                                                :   11,958,795                          9,303,796                          140,741,000

 

Total assets                                                                                              :   164,889,345                        132,875,471                       616,900,000

 

Current liabilities                                                                                     :   112,364,092                        83,115,539                        333,597,000

 

Non current liabilities                                                                              :   0                                        0                                       6,430,000

 

Total liabilities                                                                                          :   112,364,092                        83,115,539                        340,027,000

 

Share equity                                                                                             :   52,525,253                          49,759,932                        276,873,000

 

Retained earning                                                                                     :   50,312,253                          47,546,932                        94,804,000

 

Comments        :   The non-consolidated financial information above relates to the Subject only.

 

The group’s consolidated financial information above relates to the Subject’s Parent / Ultimate Holding Company Nylex (Malaysia) Berhad and all its subsidiaries which include the Subject

 

 

OPERATION DETAILS

 

Main activities    :   The Subject is engaged in trading of petroleum based products and industrial chemicals.

 

The Subject is a independent marketer and distributor of petrochemicals, solvents, industrial chemicals and specialty products in Asia. A highly respected and established name, subject sells more than 50 different products to over 12 countries in the Asia-Pacific region.

 

The Subject products are used by many multinational companies in the paints, inks, adhesives, packaging, printing, rubber, textiles, formaldehyde and oleochemicals industries.

 

Product & services         :           Aromatics Aliphatics Alcohols Ketones Glycols

Glycol Ethers

Esters

Chlorinated Solvents

Plastics

Speciality Chemicals

 

Purchases

 

International       :   Worldwide

 

 

Sales

 

Local                :   Yes

 

International       :   Asia countries

 

 

Key events        :   Nylex (Malaysia) Berhad Announces Liquidation Of PT Indomalay Ekatana

Roofing Industries

Thursday, 9 Jun 2011

Nylex (Malaysia) Berhad announced that the Members' Voluntary Liquidation of its subsidiary, PT Indomalay Ekatana Roofing Industries, has been completed on May 31, 2011, with the decision letter of cancellation of Taxpayer Identification Number dated May 30, 2011, from the Director General of Taxation of Indonesia.

 

Nylex (Malaysia) Berhad's Subsidiary Acquires Additional Stake In Ancom

Kimia Sdn Bhd

Tuesday, 22 Feb 2011

Nylex (Malaysia) Berhad (Nylex) announced that its wholly owned subsidiary, Perusahaan Kimia Gemilang Sdn Bhd (PKG), has purchased

550,000 shares in its associate, Ancom Kimia Sdn Bhd (AKSB), from Muhtar Hashim for a cash consideration of MYR 275,000. The acquisition has changed the shareholding of Nylex in AKSB from 30% to 55% and AKSB is now a subsidiary of PKG and an indirect subsidiary of Nylex.

 

Property & Assets

 

Premises          :   The Subject operates from premises located at the verified heading address consisting of administrative office.

Branches          :   In addition, the Subject operates from branch warehouses located:

 

Kolam Centre Ph 2, Lorong Kolam Plaza

88300 Kota Kinabalu

Sabah

Malaysia

Tel: +60 88 249108

 

No. 3, Lkr Sultan Hishamuddin Kaw 20

Kaw Ind Bdr Sultan Suleiman

42000 Pelabuhan Klang Selangor Darul Ehsan Malaysia

Tel: +60 3 31765107

 

No. 16, Lrg Seruling 3

14200 Sungai Bakap Pulau Pinang Malaysia

Tel: +60 4 5828252

 

Other property   :   Total NBV of property, plant and equipment as of 31-05-2011 was MYR

7,433,811.

 

 

SUMMARIZED COUNTRY RISK

 

Gross Domestic Products (GDP) & Economic Overview

 

Central bank                                          :   Central Bank of Malaysia

 

Reserve of foreign exchange & gold         :   US$ 135.0 billion as of 15 December 2011

 

Gross domestic product - GDP               :   US$ 247.781 billion

 

GPP (Purchasing power parity)               :   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 (Banking), Maybank (Banking), Tenaga Nasional(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                    :   2008: US$7,172 million

2009: US$1,430 million

2010: US$9,103 million

 

FDI Outflows                  :   2008: US$14,965 million

2009: US$7,930 million

2010: US$13,329 million

 

Best countries for doing business:   21 out of 183 countries

 

Global competitiveness ranking:   21 (ranking by country on a basis of 142, 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:   55.3%

PAYMENT HISTORY

 

Purchase Term

 

Local                                                 :   Prepayment, D/P, D/A, Credit up to 120 days

 

International                                       :   L/C, D/P, D/A, Credit up to 120 days

 

 

Sales Term

 

Local                                                 :   Prepayment, D/P, D/A, Credit up to 120 days

 

International                                       :   L/C, D/P, D/A, 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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.23

UK Pound

1

Rs.82.87

Euro

1

Rs.69.13

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.