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Report Date : |
26.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHIA TUNG DEVELOPMENT CORP., LTD. |
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Registered Office : |
No. 7, Kung Yeh West Rd., Kuan Tien Industrial Zone, Kuan Tien Hsiang, Tainan Hsien |
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Country : |
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Date of Incorporation : |
06.03.1981 |
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Com. Reg. No.: |
30938460 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture and sales of feed machines |
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No. of Employees : |
About 30 employees |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES:
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Taiwan |
A2 |
A2 |
|
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 |
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Off-credit |
D |
Taiwan - ECONOMIC OVERVIEW
Taiwan has a dynamic capitalist economy with gradually decreasing government guidance of investment and foreign trade. In keeping with this trend, some large, state-owned banks and industrial firms have been privatized. Exports, led by electronics, machinery, and petrochemicals have provided the primary impetus for economic development. This heavy dependence on exports exposes the economy to fluctuations in world demand. In 2009, Taiwan's GDP contracted 1.9%, due primarily to a 20% year-on-year decline in exports. In 2010 GDP grew 10.9%, as exports returned to the level of previous years, and in 2011, grew 5.2%. However, 2012 growth will likely be less, according to most forecasters, because of softening global demand. Taiwan's diplomatic isolation, low birth rate, and rapidly aging population are major long-term challenges. Free trade agreements have proliferated in East Asia over the past several years, but so far Taiwan has been excluded from this greater economic integration largely because of its diplomatic status with the exception of the landmark Economic Cooperation Framework Agreement (ECFA) signed with China in June 2010. The MA administration has said that the ECFA will serve as a stepping stone toward trade pacts with other regional partners, and negotiations on a deal with Singapore began this year. Follow-on components of ECFA, including deals on trade in goods, services, and investment, have yet to be completed. Taiwan's Total Fertility rate of just over one child per woman is among the lowest in the world, raising the prospect of future labor shortages, falling domestic demand, and declining tax revenues. Taiwan's population is aging quickly, with the number of people over 65 accounting for 10.9% of the island's total population as of 2011. The island runs a large trade surplus, and its foreign reserves are the world's fourth largest, behind China, Japan, and Russia. Since 2005 China has overtaken the US to become Taiwan's second-largest source of imports after Japan. China is also the island's number one destination for foreign direct investment. Three financial memorandums of understanding, covering banking, securities, and insurance, took effect in mid-January 2010, opening the island to greater investments from the mainland's financial firms and institutional investors, and providing new opportunities for Taiwan financial firms to operate in China. Closer economic links with the mainland bring greater opportunities for the Taiwan economy, but also poses new challenges as the island becomes more economically dependent on China while political differences remain unresolved.
Source : CIA
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Company Name: |
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Supplied Name: |
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Trading Address: |
No. 7, Kung Yeh
West Rd., Kuan Tien Industrial Zone, Kuan Tien Hsiang, Tainan Hsien, Taiwan,
R.O.C. |
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Supplied Address: |
|
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Telephone Number: |
+886-6-698-7184 |
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Fax Number: |
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E-mail: |
Notes: Subject’s exact name and address are as above.
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Credit Opinion: |
Subject
was incorporated on
|
Name |
Subscription Shares |
|
Zhenfa
Lin |
3,775,000 |
|
Peiying Lin |
|
|
245,000 |
|
The information above is that of subject’s major shareholders.
Core Management
|
1 |
|
|
Name |
Zhenfa Lin |
|
Position |
Board Chairman |
|
2 |
|
|
Name |
Peiying Lin |
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Position |
Director |
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3 |
|
|
Name |
Guohua Jian |
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Position |
Director |
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4 |
|
|
Name |
Yuexv Deng |
|
Position |
Supervisor |
Personnel Structure
|
Total Employees |
About
30 employees |
Offices & Factories
|
|
Headquarters
|
|
Add |
No. 7, Kung Yeh
West Rd., Kuan Tien Industrial Zone, Kuan Tien Hsiang, Tainan Hsien, Taiwan,
R.O.C. |
l
Subject is
engaged in design, development and manufacture of feed machines, etc
l
Subject
supplies products with capacity starting from 1 Ton/Hr to 40 Ton/Hr
Purchase Information
l
The
registered activities of subject:
|
1 |
Import and
export trading business (except futures) |
|
2 |
Bidding
service, price quoting service and sales of relevant products for domestic
and overseas customers |
|
3 |
Sales
of Handicrafts, textiles, automobile, locomotive parts and groceries |
|
4 |
Sales
of fireproofing building materials, ceramic
tiles, wood (except rolled steel) |
|
5 |
Sales
of feed and deed additives |
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6 |
Manufacture, processing, sales,
installation and maintenance of Grinding mills, mixers, segregating units,
precipitron, nular machine conveyor and
other feed, food, chemical machines. |
l
Subject
purchases raw materials and component both at home and abroad and subject’s
purchasing all depends on specific conditions and customers’ demands
l
The subject
is a supplier of feed mill machinery for all kinds of animal feeds for poultry,
livestock and aquacultures (fish and shrimp feed), full fat soya and cooked
corn extrusion plant and grain, cereals flaking plant as well as port handling
conveyors and Grain terminal Silo projects, etc
l
Subject’s
products are both sold in domestic and overseas market in Taiwan including
Taiwan, Europe, America, Japan, South Korea, South Eastern Asia Countries,
Africa And Middle East Countries and it is introduced that subject has served
about 300 customers so far
Major products
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Animal Feed Mill |
Hammer Mill |
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Mixer |
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Pellet Mill |
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Cooler |
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Crumbler Roller Mill |
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Vibrating Sieve |
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Fish and Shrimp Feed Mill |
Pulverizer |
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Grading Sieve |
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Prep-Condition & Post-Conditioner |
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Extruder Expander |
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Dryer |
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Auto-Bagging |
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Fat Coater |
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Full Fat Soya & Cooked Corn Extrusion
Plant |
Dry Extruder |
|
Rotary |
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Flaking Plant |
Flaking Mill |
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Steam Cooking Conditioner |
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Grain Terminal Silo and conveyor system |
-- |
Major Customers
|
ANIMAL FEEDMILL |
||
|
NAME |
DESCRIPTION |
COUNTRY |
|
ET. CARGILL |
15 T/HR COMPLETE POULTRY & LIVESTOCK FEEDMILL |
INDONESIA |
|
ET. SATAWA BOGA SAMPURNA |
12 T/HR COMPLETE POULTRY & LIVESTOCK FEEDMILL |
INDONESIA |
|
NATIONAL LIVESTOCK CHUN CHU FEEDMILL |
15 T/HR POULTRY |
SOUTH KOREA |
|
PORN PRAJOUP |
20 T/HR COMPLETE FEEDMILL |
THAILAND |
|
KOR KAI FARM |
10 T/HR COMPLETE FEEDMILL |
THAILAND |
|
CHUN YIN |
20 T/HR ANIMAL FEEDMILL |
TAIWAN |
|
ITOCHU KAISHA |
40 T/HR GRINDING CONVEYOR |
JAPAN |
|
P.T. GUNUN WODAN TAMA |
40 T/HR COMPLETE ANIMAL FEEDMILL |
INDONESIA |
|
MEDI SHUAU KAISHA |
40 T/HR ANIMAL FEED PLANT GRINDING MIXING AND
CONVEYOR |
JAPAN |
|
SHANG HAI SIN-YIANG FEED CORP. |
15 T/HR POULTRY FEEDMILL |
CHINA |
|
MOUMING SHINNING LIVESTOCK CO. |
10 T/HR POULTRY FEEDMILL |
CHINA |
|
ZOU PIN AHIELD SPEARE FEED CORP. |
10 T/HR POULTRY FEEDMILL |
AUSRALIA/CHINA |
|
DOU NAN FARMS ASSOCIATION |
4-6 T/HR EXPANDER / EXTRUSION PLANT |
TAIWAN |
|
SAN FU. CO. |
10 T/HR FLAKING SYSTEM |
TAIWAN |
|
TOWER
FEEDS CO. |
20 T/HR
ANIMAL FEEDMILL WITH 10 T/HR PELLETING SYSTEM |
PHILIPPINES |
|
ZHEHANG
YIWU HUA TONG FORAGH CO. |
20 T/HR
ANIMAL FEEDMILL |
CHINA |
|
GREAT
WALL CO. |
20 T/HR
ANIMAL FEEDMILL |
CHINA |
|
SELECTA
FEEDS INC. |
20 T/HR
FEEDMILL AND PELLETING SYSTEM |
PHILIPPINES |
|
FUJAAIR
AH FEEDS |
15 T/HR
POULTRY AND CATTLE FEEDMILL |
U.A.E. |
|
DAE HUA
ENGR. |
15 T/HR
PELLETING LINE |
SOUTH
KOREA |
|
BOONPISAN
FEED CO. |
20 T/HR
TURNKEY ANIMAL FEEDMILL |
THAILAND |
|
CHIA-NAN
CORP. |
20 T/HR
TURNKEY ANIMAL FEEDMILL |
TAIWAN |
|
ARMOR
MILLING CORP. |
20 T/HR
TURNKEY ANIMAL FEEDMILL |
PHILIPPINES |
|
HI-GRADE
FEEDS CORP. |
20 T/HR
TURNKEY COMPLETE ANIMAL FEEDMILL WITH 10 T/HR PELLETING SYSTEM |
PHILIPPINES |
|
ACES
AGRI MANUFACTURING CORP. |
20 T/HR
TURNKEY COMPLETE ANIMAL FEEDMILL WITH 10 T/HR PELLETING SYSTEM |
PHILIPPINES |
|
SAN
MIGUEL FOODS INC. |
20-40
T/HR FEEDMILL STEEL STRUCTURAL AND CONVEYORS |
PHILIPPINES |
|
LEAN
HONG CHAN CO. |
5 T/HR
GRAIN ROASTING PLANT |
MALAYSIA |
|
HAIL
AGRICUETURAL CO. |
5-10
T/HR ANIMAL FEEDMILL |
SAUDI
ARABIA |
|
THICK
& THIN AGRI-CO. |
20 T/HR
COMPLETE FEEDMILL |
PHILIPPINES |
|
BROOKSIDE
FARMS |
30 T/HR
BATCH OF MASH FEED |
PHILIPPINES |
|
RIAZL
POULTRY SELECTA FEEDS CORP. |
10 T/HR
PELLET FEEDMILL & FEED MASH |
PHILIPPINES |
|
PUREFOODS
CORP. |
COMPLETE
10TPH FEEDMILL |
PHILIPPINES |
|
AMBOS
PTY LTD. |
30 T/HR
COMPELTE ANIMAL FEED PELLETING PLANT |
AUSTRALIA |
|
USHA
FEED LTD. |
30 T/HR
FEED MASH, 15 T/HR PELLET FEEDMILL |
BANGLADESH |
|
BAC
NINH AGRI PRODUCTS COMPANY |
30 T/HR
ANIMAL MASH &PELLET FEED |
VIETNAM |
|
UNITED
FEEDS LTD. |
20 T/HR
POULTRY FEEDMILL |
BANGLADESH |
|
P.T KIM
STAR NUSANTARA |
40 T/HR
ANIMAL FEEDMILL |
INDONESIA |
|
AFTAB
BAHUMUKHI FARM LTD. |
20 TO
40 TON POULTRY FEEDMILL |
BANGLADESH |
|
BULK
HANDLERS INC. |
GRAIN
TERMINAL EQUIPMENT & 130,000 TON STORAGE & SILO SYSTEM |
PHILIPPINES |
|
NOURISH
POULTRY & HATCHERY LTD. |
10 TPH
POULTRY FEEDMILL |
BANGLADESH |
|
SHRIMP & FISH FEEDMILL |
||
|
NAME |
DESCRIPTION |
COUNTRY |
|
VITARICH
CORP. |
2 T/HR
SHRIMP FEEDMILL |
PHILIPPINES |
|
LAEM
THONG CO. |
2 T/HR
SHRIMP FEEDMILL |
THAILAND |
|
TAIWAN FON
SHOU CO. LTD. |
2 T/HR
COMPLETE PLANT OF SHRIMP FEEDMILL |
TAIWAN |
|
T.P.
FEED CO., LTD. |
4 T/HR
SHRIMP FEEDMILL |
THAILAND |
|
SAUDI
UANGLADESH FISH FEED CO. |
2 T/HR
SHRIMP FEEDMILL |
BANGLANDESH |
|
TROUW
INTERNATIONAL |
3 T/HR
SHRIMP FEEDMILL |
HOLLAND |
|
AQUUASTER
LTD. |
2 T/HR
SHRIMP FEEDMILL |
THAILAND |
|
HANAQUA
FEEDS CO. |
6 T/HR
SHRIMP FEED PREMIX PLANT |
TAIWAN |
|
BT.
LNAWAN FEEDS |
2 T/HR
SHRIMP FEED AND EXTRUSION |
INDONESIA |
|
AGRO
INDUSTRIAL |
3 T/HR
SHRIMP FED PRECONDITION & FAT |
ECUADOR |
|
CHUN BU
FEEDS KAISHA |
4 T/HR
SHRIMP FEED PELLETING POST-CONDITIONER |
JAPAN |
|
C.P.
FEED CO. |
3 T/HR
SHRIMP FEED MILL |
JAPAN |
|
PKPS
AQUA FEED |
4 T/HR
SHRIMP FEED |
MLAYSIA |
|
ZU PIN
SHIELD SPEARE FEED CORP. |
2-4
T/HR SHRIMP FEEDMILL |
AUSTRALIA
/ CHINA |
|
SHB CO. |
2 T/HR
SHRIMP & POULTRY FEED PRODUCTION PLANT |
SEYCHELLES\ |
|
AQUASTER
LTD. |
4 T/HR
SHRIMP FEED PELLETING |
THAILAND |
|
VANAARSEN
INTERNATIONAL H.V. |
4 T/HR
POST-CONDITIONER & PRE-CONDITIONER FOR SHRIMP FEEDMILL |
CHINA /
HOLLAND |
|
DONGTAI
BAIFU SPECIAL FORAGE CO. |
3 T/HR
SHRIMP AND DEL FEED EQUIPMENT |
CHINA |
|
PULILAN
AGRI-DEVL INC. |
15 T/HR
DRY EXTRUSION 2 LINES |
PHILIPPINES |
|
FON SU
FEEDMILL |
4 T/HR
FLOTING FISH FEED |
TAIWAN |
|
FEED
SPECIALTIES |
5-7 T/HR
EXTRUSION FISH FEED |
THAILAND |
|
HOMAN
RESOURCES ACC |
4 UNITS
DRY EXTRUSION PLANT |
KENYA |
|
HOC-PO
FEEDS CORP. |
5 T/HR
TURNKEY FISH FEED PLANT |
PHILIPPINES |
|
GOLD
COIN SPECIALTIES |
2.5-5
T/HR SHRIMP FEED PLANT |
THAILAND |
|
MAVIOSA
MANTA |
4 T/HR
SHRIMP FEEDING POST CONDITIONER |
ECUADOR |
|
PT BIAK
PAKAN UTAMA |
6 T/HR
SHRIMP FEEDMILL |
INDONESIA |
|
INTEGRATED
AQUACULTURE SPECIALISTS, INC. |
1.5~2
T/HR FISH & SHRIMP FEEDMILL |
PHILIPPINES |
|
AN PHU
ANIMAL FEED ENTERPRISE |
2 T/HR
SHRIMP FEED |
VIETNAM |
|
THAI
UNION FEEDMILL CO., LTD. |
2.5~3
T/HR PULVERIZER |
THAILAND |
|
C.J
PHILIPPINES, INC. |
FLOATING
FISH FEED |
PHILIPPINES |
|
SAUDI
BANGLA FISH FEED LTD. |
2 T/HR
FINISHER PELLET FEED |
BANGLADESH |
|
GENERAL
MILLING CORPORATION |
3.5 T/HR
FLOATING FISH & PELLETING FISH FEED |
PHILIPPINES |
|
CONT TY
TNHH SX & TM HAI VAN |
2 T/HR
SHRIMP FEEDMILL |
VIETNAM |
|
SELECTA
FEEDS CORP. |
4 T/HR
FISH FEED |
PHILIPPINES |
|
ALIMENTOS
PROCESADOS S.A |
1.0
T/HR EXTRUSION FEED PLANT |
PERU |
|
PROCONCO
CO. |
COMPLETE
6 TO 8 T/HR FLOATING FISH FEED PLANT |
VIETNAM |
|
PROCONCO
CO. |
2 T/HR
SHRIMP FEED PLANT |
VIETNAM |
|
HOC-PO
FEEDS INC. |
3 TPH
FLOATING FISH FEEDMILL |
PHILIPPINES |
|
BANGLADESH
INTEGRATED FISHERY & POULTRY CO. |
2 TPH FLOATING
FISH FEEDMILL |
BANGLADESH |
|
VITAGA
ANIMAL FEED ENTERPRISE |
2 TPH
SHRIMP FEEDMILL |
VIETNAM |
Import and export
right:
|
Import right |
Yes |
|
Export right |
Yes |
Domestic Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials
and components, etc |
COD, CBD, Credit
Sales, etc |
100% |
Foreign Purchase
|
Payment Terms |
Proportion |
|
|
Raw materials and
components, etc |
CBD, etc |
100% |
Sales
Domestic Markets
|
Sales Terms |
Proportion |
|
|
Feed mill
machines, etc |
CBD, etc |
100% |
Export
|
Sales Terms |
Proportion |
|
|
Feed mill
machines, etc |
CBD, L/C, etc |
100% |
Subject has no obligations to disclose its
financial statements to the third party according to the relevant policy in
Taiwan and the only source from which we can obtain the information is the
subject itself.
Subject declined to disclose its financials
citing the grounds of company’s confidentiality; from other source we can not
obtain the relevant information, either.
Subject declined to disclose its bank details; from other source we can not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3 months.
Lawsuit
Up to date of reporting, no existing or latent litigation of the subject has been found.
|
Department |
Sales department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.34 |
|
UK Pound |
1 |
Rs.88.30 |
|
Euro |
1 |
Rs.71.37 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
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.