MIRA INFORM REPORT

 

 

Report Date :

25.05.2012

 

IDENTIFICATION DETAILS

 

Name :

KIBAR DIS TICARET A.S.

 

 

Registered Office :

Tersane Caddesi Isik Is Merkezi No:92 Kat:2-3-4 34420 Karakoy Istanbul /

 

 

Country :

Turkey

 

 

Financials (as on) :

30.09.2011

 

 

Date of Incorporation :

19.09.1985

 

 

Com. Reg. No.:

217981

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

The subject performs foreign trade activities of Kibar Group of companies especially in iron and steel sector. 

 

 

No. of Employees :

49

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Moderate

Payment Behaviour :

Unknown 

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail: infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Turkey

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

COMPANY IDENTIFICATION

 

NAME

:

KIBAR DIS TICARET A.S.

HEAD OFFICE ADDRESS

:

Tersane Caddesi Isik Is Merkezi No:92 Kat:2-3-4 34420 Karakoy Istanbul / Turkey

PHONE NUMBER

:

90-212-256 49 70

 

FAX NUMBER

:

90-212-253 50 31

 

WEB-ADDRESS

:

www.kibardisticaret.com

E-MAIL

:

info@kibardisticaret.com

 

 

LEGAL STATUS AND HISTORY

 

TAX OFFICE

:

Dis Ticaret

TAX NO

:

5620030705

REGISTRATION NUMBER

:

217981

REGISTERED OFFICE

:

Istanbul Chamber of Commerce

DATE ESTABLISHED

:

19.09.1985

ESTABLISHMENT GAZETTE DATE/NO

:

01.10.1985/1356

LEGAL FORM

:

Joint Stock Company

TYPE OF COMPANY

:

Private

REGISTERED CAPITAL

:

TL   7.657.707

PAID-IN CAPITAL

:

TL   7.657.707

 

HISTORY

:

Previous Registered Capital

:

TL 7.500.000

Changed On

:

27.10.2009 (Commercial Gazette Date /Number 02.11.2009/ 7429)

Previous Address

:

Tersane Caddesi Bakir Sokak No:19 Assan Han No:2-3-4-5 Karakoy-Beyoglu / Istanbul

Changed On

:

16.05.2007 (Commercial Gazette Date /Number 21.05.2007/ 6812)

Merger

:

The subject took over and merged with "Polaris Gemi Kiralama Sanayi ve Ticaret A.S."

Changed On

:

27.10.2009 (Commercial Gazette Date /Number 02.11.2009/ 7429)

 

OWNERSHIP / MANAGEMENT

 

SHAREHOLDERS

:

Kibar Holding A.S.

87,10 %

Aysun Kibar

4,13 %

Ali Kibar

4,11 %

Asim Kibar

3,97 %

Ahmet Kibar

0,35 %

Semiha Kibar

0,19 %

Salih Serdar Kocturk

0,15 %

 

 

GROUP PARENT COMPANY

:

KIBAR HOLDING A.S.

 

SISTER COMPANIES

:

ALACA TANITIM DEKORASYON LTD. STI.

ASSAN ALUMINYUM SANAYI VE TICARET A.S.

ASSAN BILISIM A.S.

ASSAN DEMIR VE SAC SANAYI A.S.

ASSAN GAYRIMENKUL GELISTIRME VE YATIRIM A.S.

ASSAN GIDA SANAYI VE TICARET A.S.

ASSAN HANIL OTOMOTIV SANAYI VE TICARET A.S.

ASSAN LIMAN ISLETMELERI A.S.

ASSAN PANEL SANAYI VE TICARET A.S.

ASSAN PROFIL SANAYI VE TICARET A.S.

ASSAN TASIMACILIK TICARET VE SANAYI A.S.

ASSAN TUKETICI FINANSMANI A.S.

ASSAN YAPI A.S.

BAREKS DIS TICARET A.S.

EGE ASSAN GIDA PAZARLAMA SANAYI VE TICARET A.S.

HYUNDAI-ASSAN OTOMOTIV SANAYI VE TICARET A.S.

ISPAK IZMIT SIVI PAKETLEME SANAYI A.S.

ISPAK PROFIL SANAYI VE TICARET A.S.

KIBAR DERI SANAYI VE TICARET LTD. STI.

KIBAR HOLDING A.S.

KIBAR INSAAT OTOMOTIV GIDA VE TURIZM TICARET VE SANAYI LTD. STI.

KIBAR INTERNATIONAL S.A.

KIBAR SIGORTA ARACILIK HIZMETLERI A.S.

KIBAROGULLARI SAGLIK TURIZM INSAAT TICARET VE SANAYI LTD. STI.

POLARIS GEMI KIRALAMA SANAYI VE TICARET A.S.

POSCO ASSAN TST CELIK SANAYI A.S.

SICPA ASSAN URUN GUVENLIGI SANAYI VE TICARET A.S.

 

SUBSIDIARIES

:

BAREKS DIS TICARET A.S.

 

BOARD OF DIRECTORS

:

Ali Kibar

Chairman

Ahmet Kibar

Vice-Chairman

Salih Serdar Kocturk

Member

 

 

DIRECTORS

:

Salih Serdar Kocturk                                                                                                                                                                                                                                                                                   

General Manager

M.Serafettin Calkan                                                                                                                                                                                                                                                                                   

Deputy General Manager

S.Metin Ozkoseoglu                                                                                                                                                                                                                                                                                   

Deputy General Manager

 

 

OPERATIONS

 

BUSINESS ACTIVITIES

:

The subject performs foreign trade activities of Kibar Group of companies especially in iron and steel sector. 

 

NACE CODE

:

G .51.52

 

SECTOR

:

Commerce

 

NUMBER OF EMPLOYEES

:

49

 

NET SALES

:

772.204.905 TL

(2007) 

672.395.053 TL

(2008) 

591.954.731 TL

(2009) 

1.338.843.694 TL

(2010) 

1.805.902.568 TL

(01.01-30.09.2011) 

 

 

CAPACITY

:

None

 

PRODUCTION

:

None

 

IMPORT VALUE

:

16.400.000 USD

(2004)

15.000.000 USD

(2005)

12.000.000 USD

(2006)

34.055.371 USD

(2007)

25.000.000 USD

(2008)

 

 

IMPORT COUNTRIES

:

Italy

U.S.A.

Algeria

Russia

Ukraine

 

MERCHANDISE IMPORTED

:

Iron & Steel products

 

EXPORT VALUE

:

394.237.712 TL

(2003)

561.259.614 TL

(2004)

578.519.136 TL

(2005)

457.819.719 USD

(2006)

757.194.225 TL

(2007)

625.149.621 TL

(2008)

574.555.976 TL

(2009)

1.286.795.154 TL

(2010)

1.729.334.294 TL

(01.01-30.09.2011)

 

 

EXPORT COUNTRIES

:

Northern Cyprus Turkish Republic

Jordan

Finland

Norway

Belgium

Denmark

Italy

Netherlands

New Zealand

U.S.A.

Canada

Lebanon

Syria

Bahrain

India

Indonesia

China

Singapore

Japan

Taiwan

Germany

U.K.

Greece

Spain

Poland

Bulgaria

Algeria

Morocco

 

MERCHANDISE  EXPORTED

:

Aluminum

Iron

Metal sheet

Ribbed iron

Tomato paste

 

HEAD OFFICE ADDRESS

:

Tersane Caddesi Isik Is Merkezi No:92 Kat:2-3-4 34420 Karakoy  Istanbul / Turkey ( rented )

 

BRANCHES

:

Branch Office  :   Karabuk/Turkey

                                                                                

INVESTMENTS

:

None

 

 

TREND OF BUSINESS

:

There was an upwards trend in 2010. There appears an upwards trend in 1.1 - 30.9.2011.

SIZE OF BUSINESS

:

Giant

 

 

FINANCE

 

MAIN DEALING BANKS

:

Akbank Dogu Kurumsal Branch

Garanti Bankasi Istanbul Kurumsal Branch

Yapi ve Kredi Bankasi Anadolu Kurumsal Branch

 

CREDIT FACILITIES

:

The subject company is making use of credit facilities.

PAYMENT BEHAVIOUR

:

No payment delays have come to our knowledge.

KEY FINANCIAL ELEMENTS

:

 

(2007) TL

(2008) TL

(2009) TL

(2010) TL

(01.01-30.09.2011) TL

Net Sales

772.204.905

672.395.053

591.954.731

1.338.843.694

1.805.902.568

Profit (Loss) Before Tax

743.355

4.503.715

66.102

107.651

-4.758.887

Stockholders' Equity

9.641.746

12.549.610

12.557.441

12.810.062

8.051.176

Total Assets

169.048.881

197.262.347

195.428.334

370.294.981

507.252.987

Current Assets

162.294.745

190.565.004

188.703.399

363.401.889

497.120.581

Non-Current Assets

6.754.136

6.697.343

6.724.935

6.893.092

10.132.406

Current Liabilities

159.407.135

184.712.737

182.870.893

357.484.919

476.135.561

Long-Term Liabilities

0

0

0

0

23.066.250

Gross Profit (loss)

19.446.592

28.859.343

13.554.691

15.593.345

17.394.611

Operating Profit (loss)

628.477

16.464.532

3.517.313

5.352.882

6.989.379

Net Profit (loss)

559.490

3.425.151

25.564

52.752

-4.758.887

 

 

COMMENT ON FINANCIAL POSITION

 

Capitalization

Not in order As of 30.09.2011

Liquidity

Fair As of 30.09.2011

Remarks On Liquidity

The liquid assets consist mainly of receivables the amount of cash&banks or marketable securities (which are more liquid) are low. 

Profitability

Low Operating Profitability  in 2007

Low Net Profitability  in 2007

Fair Operating Profitability  in 2008

Low Net Profitability  in 2008

Low Operating Profitability  in 2009

Low Net Profitability  in 2009

Low Operating Profitability  in 2010

Low Net Profitability  in 2010

Low Operating Profitability (01.01-30.09.2011)

Net Loss (01.01-30.09.2011)

 

Gap between average collection and payable periods

In order in 01.01-30.09.2011

General Financial Position

Unsatisfactory

 

 

Incr. in producers’ price index

 

Average USD/TL

Average EUR/TL

Average GBP/ TL

 ( 2003 )

13,90 %

1,5302

1,7141

2,4982

 ( 2004 )

13,84 %

1,4266

1,7666

2,6001

 ( 2005 )

2,66 %

1,3499

1,6882

2,4623

 ( 2006 )

11,58 %

1,4309

1,7987

2,6377

 ( 2007 )

5,94 %

1,3075

1,7901

2,6133

 ( 2008 )

8,11 %

1,2858

1,8876

2,3708

 ( 2009 )

5,93 %

1,5460

2,1529

2,4094

 ( 2010 )

8,87 %

1,5128

2,0096

2,3410

 ( 01.01-30.09.2011)

9,72 %

1,6335

2,3016

2,6294

 ( 2011 )

13,33 %

1,6797

2,3378

2,6863

 ( 01.01-31.03.2012)

0,65 %

1,7995

2,3799

2,8402

 

 

 

BALANCE SHEETS

 

 

 ( 31.12.2007 )  TL

 

 ( 31.12.2008 )  TL

 

 ( 31.12.2009 )  TL

 

CURRENT ASSETS

162.294.745

0,96

190.565.004

0,97

188.703.399

0,97

Not Detailed Current Assets

0

0,00

0

0,00

0

0,00

Cash and Banks

934.134

0,01

27.715.271

0,14

5.882.245

0,03

Marketable Securities

0

0,00

0

0,00

0

0,00

Account Receivable

109.173.548

0,65

130.630.220

0,66

131.494.255

0,67

Other Receivable

2.715.155

0,02

47.533

0,00

97.736

0,00

Inventories

19.946.825

0,12

8.368.700

0,04

22.067.746

0,11

Advances Given

22.762.360

0,13

17.078.846

0,09

19.585.811

0,10

Accumulated Construction Expense

0

0,00

0

0,00

0

0,00

Other Current Assets

6.762.723

0,04

6.724.434

0,03

9.575.606

0,05

NON-CURRENT ASSETS

6.754.136

0,04

6.697.343

0,03

6.724.935

0,03

Not Detailed Non-Current Assets

0

0,00

0

0,00

0

0,00

Long-term Receivable

0

0,00

0

0,00

0

0,00

Financial Assets

6.488.300

0,04

6.488.300

0,03

6.473.195

0,03

Tangible Fixed Assets (net)

151.830

0,00

159.674

0,00

97.540

0,00

Intangible Assets

87.987

0,00

7.243

0,00

29.551

0,00

Deferred Tax Assets

0

0,00

0

0,00

0

0,00

Other Non-Current Assets

26.019

0,00

42.126

0,00

124.649

0,00

TOTAL ASSETS

169.048.881

1,00

197.262.347

1,00

195.428.334

1,00

CURRENT LIABILITIES

159.407.135

0,94

184.712.737

0,94

182.870.893

0,94

Not Detailed Current Liabilities

0

0,00

0

0,00

0

0,00

Financial Loans

65.323.569

0,39

64.723.786

0,33

55.324.127

0,28

Accounts Payable

86.201.410

0,51

102.652.860

0,52

109.995.457

0,56

Loans from Shareholders

0

0,00

0

0,00

0

0,00

Other Short-term Payable

527.459

0,00

1.265.084

0,01

1.337.026

0,01

Advances from Customers

1.122.338

0,01

9.482.497

0,05

7.984.180

0,04

Accumulated Construction Income

0

0,00

0

0,00

0

0,00

Taxes Payable

159.284

0,00

168.588

0,00

171.463

0,00

Provisions

-70.592

0,00

-52.952

0,00

1.409

0,00

Other Current Liabilities

6.143.667

0,04

6.472.874

0,03

8.057.231

0,04

LONG-TERM LIABILITIES

0

0,00

0

0,00

0

0,00

Not Detailed Long-term Liabilities

0

0,00

0

0,00

0

0,00

Financial Loans

0

0,00

0

0,00

0

0,00

Securities Issued

0

0,00

0

0,00

0

0,00

Long-term Payable

0

0,00

0

0,00

0

0,00

Loans from Shareholders

0

0,00

0

0,00

0

0,00

Other Long-term Liabilities

0

0,00

0

0,00

0

0,00

Provisions

0

0,00

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

9.641.746

0,06

12.549.610

0,06

12.557.441

0,06

Not Detailed Stockholders' Equity

0

0,00

0

0,00

0

0,00

Paid-in Capital

7.500.000

0,04

7.500.000

0,04

7.657.707

0,04

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

0

0,00

Inflation Adjustment of Capital

0

0,00

0

0,00

0

0,00

Equity of Consolidated Firms

0

0,00

0

0,00

0

0,00

Reserves

1.582.256

0,01

1.624.459

0,01

5.049.611

0,03

Revaluation Fund

0

0,00

0

0,00

-175.441

0,00

Accumulated Losses(-)

0

0,00

0

0,00

0

0,00

Net Profit (loss)

559.490

0,00

3.425.151

0,02

25.564

0,00

TOTAL LIABILITIES AND EQUITY

169.048.881

1,00

197.262.347

1,00

195.428.334

1,00

 

 

 

 ( 31.12.2010 )  TL

 

 ( 30.09.2011 )  TL

 

CURRENT ASSETS

363.401.889

0,98

497.120.581

0,98

Not Detailed Current Assets

0

0,00

0

0,00

Cash and Banks

9.702.574

0,03

19.350.300

0,04

Marketable Securities

0

0,00

0

0,00

Account Receivable

243.848.308

0,66

344.455.180

0,68

Other Receivable

127.897

0,00

262.013

0,00

Inventories

76.711.456

0,21

95.329.473

0,19

Advances Given

19.202.836

0,05

0

0,00

Accumulated Construction Expense

0

0,00

0

0,00

Other Current Assets

13.808.818

0,04

37.723.615

0,07

NON-CURRENT ASSETS

6.893.092

0,02

10.132.406

0,02

Not Detailed Non-Current Assets

0

0,00

0

0,00

Long-term Receivable

0

0,00

0

0,00

Financial Assets

6.815.057

0,02

6.957.057

0,01

Tangible Fixed Assets (net)

73.756

0,00

162.544

0,00

Intangible Assets

4.279

0,00

12.805

0,00

Deferred Tax Assets

0

0,00

0

0,00

Other Non-Current Assets

0

0,00

3.000.000

0,01

TOTAL ASSETS

370.294.981

1,00

507.252.987

1,00

CURRENT LIABILITIES

357.484.919

0,97

476.135.561

0,94

Not Detailed Current Liabilities

0

0,00

0

0,00

Financial Loans

84.472.200

0,23

55.985.007

0,11

Accounts Payable

223.179.941

0,60

345.062.531

0,68

Loans from Shareholders

0

0,00

0

0,00

Other Short-term Payable

4.252.705

0,01

1.845.300

0,00

Advances from Customers

8.921.163

0,02

15.457.490

0,03

Accumulated Construction Income

0

0,00

0

0,00

Taxes Payable

273.643

0,00

378.042

0,00

Provisions

15.397

0,00

0

0,00

Other Current Liabilities

36.369.870

0,10

57.407.191

0,11

LONG-TERM LIABILITIES

0

0,00

23.066.250

0,05

Not Detailed Long-term Liabilities

0

0,00

0

0,00

Financial Loans

0

0,00

23.066.250

0,05

Securities Issued

0

0,00

0

0,00

Long-term Payable

0

0,00

0

0,00

Loans from Shareholders

0

0,00

0

0,00

Other Long-term Liabilities

0

0,00

0

0,00

Provisions

0

0,00

0

0,00

STOCKHOLDERS' EQUITY

12.810.062

0,03

8.051.176

0,02

Not Detailed Stockholders' Equity

0

0,00

0

0,00

Paid-in Capital

7.657.707

0,02

7.657.707

0,02

Cross Shareholding Adjustment of Capital

0

0,00

0

0,00

Inflation Adjustment of Capital

0

0,00

0

0,00

Equity of Consolidated Firms

0

0,00

0

0,00

Reserves

5.075.174

0,01

5.127.926

0,01

Revaluation Fund

24.429

0,00

24.430

0,00

Accumulated Losses(-)

0

0,00

0

0,00

Net Profit (loss)

52.752

0,00

-4.758.887

-0,01

TOTAL LIABILITIES AND EQUITY

370.294.981

1,00

507.252.987

1,00

 

 

INCOME STATEMENTS

 

 

(2007) TL

 

(2008) TL

 

(2009) TL

 

Net Sales

772.204.905

1,00

672.395.053

1,00

591.954.731

1,00

Cost of Goods Sold

752.758.313

0,97

643.535.710

0,96

578.400.040

0,98

Gross Profit

19.446.592

0,03

28.859.343

0,04

13.554.691

0,02

Operating Expenses

18.818.115

0,02

12.394.811

0,02

10.037.378

0,02

Operating Profit

628.477

0,00

16.464.532

0,02

3.517.313

0,01

Other Income

6.432.037

0,01

12.807.273

0,02

16.199.285

0,03

Other Expenses

2.657.698

0,00

5.587.690

0,01

6.997.788

0,01

Financial Expenses

3.659.461

0,00

19.180.400

0,03

12.652.708

0,02

Minority Interests

0

0,00

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

0

0,00

Profit (loss) Before Tax

743.355

0,00

4.503.715

0,01

66.102

0,00

Tax Payable

183.865

0,00

1.078.564

0,00

40.538

0,00

Postponed Tax Gain

0

0,00

0

0,00

0

0,00

Net Profit (loss)

559.490

0,00

3.425.151

0,01

25.564

0,00

 

 

 

(2010) TL

 

(01.01-30.09.2011) TL

 

Net Sales

1.338.843.694

1,00

1.805.902.568

1,00

Cost of Goods Sold

1.323.250.349

0,99

1.788.507.957

0,99

Gross Profit

15.593.345

0,01

17.394.611

0,01

Operating Expenses

10.240.463

0,01

10.405.232

0,01

Operating Profit

5.352.882

0,00

6.989.379

0,00

Other Income

16.656.664

0,01

10.202.921

0,01

Other Expenses

11.766.031

0,01

3.416.457

0,00

Financial Expenses

10.135.864

0,01

18.534.730

0,01

Minority Interests

0

0,00

0

0,00

Profit (loss) of consolidated firms

0

0,00

0

0,00

Profit (loss) Before Tax

107.651

0,00

-4.758.887

0,00

Tax Payable

54.899

0,00

0

0,00

Postponed Tax Gain

0

0,00

0

0,00

Net Profit (loss)

52.752

0,00

-4.758.887

0,00

 

 

FINANCIAL RATIOS

 

 

(2007)

(2008)

(2009)

(2010)

(01.01-30.09.2011)

LIQUIDITY RATIOS

 

Current Ratio

1,02

1,03

1,03

1,02

1,04

Acid-Test Ratio

0,71

0,86

0,75

0,71

0,76

Cash Ratio

0,01

0,15

0,03

0,03

0,04

ASSET STRUCTURE RATIOS

 

Inventory/Total Assets

0,12

0,04

0,11

0,21

0,19

Short-term Receivable/Total Assets

0,66

0,66

0,67

0,66

0,68

Tangible Assets/Total Assets

0,00

0,00

0,00

0,00

0,00

TURNOVER RATIOS

 

Inventory Turnover

37,74

76,90

26,21

17,25

18,76

Stockholders' Equity Turnover

80,09

53,58

47,14

104,52

224,30

Asset Turnover

4,57

3,41

3,03

3,62

3,56

FINANCIAL STRUCTURE

 

Stockholders' Equity/Total Assets

0,06

0,06

0,06

0,03

0,02

Current Liabilities/Total Assets

0,94

0,94

0,94

0,97

0,94

Financial Leverage

0,94

0,94

0,94

0,97

0,98

Gearing Percentage

16,53

14,72

14,56

27,91

62,00

PROFITABILITY RATIOS

 

Net Profit/Stockholders' Eq.

0,06

0,27

0,00

0,00

-0,59

Operating Profit Margin

0,00

0,02

0,01

0,00

0,00

Net Profit Margin

0,00

0,01

0,00

0,00

0,00

Interest Cover

1,20

1,23

1,01

1,01

0,74

COLLECTION-PAYMENT

 

Average Collection Period (days)

50,90

69,94

79,97

65,57

68,67

Average Payable Period (days)

41,23

57,42

68,46

60,72

69,46

WORKING CAPITAL

2887610,00

5852267,00

5832506,00

5916970,00

20985020,00

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.28

UK Pound

1

Rs.88.25

Euro

1

Rs.70.81

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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

 

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.