MIRA INFORM REPORT

 

 

Report Date :

25.10.2012

 

IDENTIFICATION DETAILS

 

Name :

ADCOCK INGRAM HEALTHCARE (PTY) LTD

 

 

Registered Office :

1 New Road, Midrand, 1682

 

 

Country :

South Africa

 

 

Date of Incorporation :

16.07.2007

 

 

Com. Reg. No.:

M2007/019928/07

 

 

Legal Form :

Private Company

 

 

Line of Business :

Manufacturer of Surgical, medical and dental supplies

 

 

No. of Employees :

1000 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

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South Africa

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

South Africa - ECONOMIC OVERVIEW

 

south Africa is a middle-income, emerging market with an abundant supply of natural resources; well-developed financial, legal, communications, energy, and transport sectors; a stock exchange that is the 18th largest in the world; and modern infrastructure supporting a relatively efficient distribution of goods to major urban centers throughout the region. Growth was robust from 2004 to 2007 as South Africa reaped the benefits of macroeconomic stability and a global commodities boom but began to slow in the second half of 2007 due to an electricity crisis and the subsequent global financial crisis' impact on commodity prices and demand. GDP fell nearly 2% in 2009 but recovered in 2010-11. Unemployment remains high and outdated infrastructure has constrained growth. State power supplier Eskom encountered problems with aging plants and meeting electricity demand necessitating "load-shedding" cuts in 2007 and 2008 to residents and businesses in the major cities. Daunting economic problems remain from the apartheid era - especially poverty, lack of economic empowerment among the disadvantaged groups, and a shortage of public transportation. South Africa''s economic policy is fiscally conservative focusing on controlling inflation and attaining a budget surplus. The current government largely follows these prudent policies but must contend with the impact of the global crisis and is facing growing pressure from special interest groups to use state-owned enterprises to deliver basic services to low-income areas and to increase job growth.

 

 

Source : CIA

 

 

 

Subject Name

ADCOCK INGRAM HEALTHCARE (PTY)LTD

Country

South Africa

Subject Contact Person

DORETTE NEETHLING - 0116350000

Assessment

This is a well-established and well -connected business.

 

On investigation we made contact with DORETTE NEETHLING who assisted with the information. The subject has a credit limit exposure of R1 000 000. 

 

Please find the attached group financials for the subject. The subject is meeting its commitments timeously with their suppliers.

 

Please see the available information for the subject below.

 

 

Company information

 

Registered Name

ADCOCK INGRAM HEALTHCARE (PTY)LTD

Date of Name Change

Feb 11 2008 12:00AM

Registration Number

M2007/019928/07

Registration Date

2007/07/16

Age of Business

5 Years 3 Months

History of Business

ADCOCK INGRAM HEALTHCARE (PTY) LTD is owned by Adcock Ingram Holdings Ltd began as the EJ Adcock Pharmacy in Krugersdorp 120 years ago.

Shareholders/Members/Partners of subject and % holding

100% ADCOCK INGRAM HOLDINGS LIMITED listed on teh Johannesburg Stock Exchange.

Authorised Share Capital

R1000.00

Issued Share Capital/Members Contribution

R 100.00

Status

In Business

Operations Assessment

Pharmaceuticals Markets many well-recognised leading brands such as Adco Dol, Allergex®, Bioplus®, Citro-Soda®, Corenza® C, Myprodol®, Panado®, Syndol, vita-thion® and Unique Formulations.

Export

Yes

Export Countries

Ghana

Import

Yes

Import Countries

Ghana

Major Industry Code / SICC

37412

Definition of Code

Manufacture of Surgical, medical and dental supplies

Postal Address

P O Box 83, Germiston, 1400, South Africa

Head Office Physical Address

1 NEW ROAD, MIDRAND, 1682

Head Office Postal Address

PRIVATE BAG X 69, BRYANSTON, 2021

Current Tel Number

0116350000

Cell Number

Unavailable

Current Email Address

dorette.neethling@adcock.com

Web Site Address

www.adcock.co.za

 

 

Auditors

 

Company Registered Name

ERNST& YOUNG

Registration Number

M2005/002308/21

Physical Address

WANDERERS OFFICE PARK, 52 CORLETT DRIVE, ILLOVO, 2196

Postal Address

P 0 BOX 27214, GREENACRES, 6057

Contact Person

WARREN KINNEAR

Contact Number

0117723000

Email

warren.kinnear@za.ey.com

Principals

73

Judgements Against Subject

None

Judgements Against Principals

None

Subject Verified as Client

Yes

Practice Number

901947

VAT Number

4280230949

Tax Number

9414606153

BEE Status

LEVEL 4

Financial Year End

June

No of years in Business

Unknown

Website

www.ey.com

 

Previous Auditors

Company Name

Phone Number

Time with previous auditors

Comment

GRANT THORNTON

 

Unknown

 

 

 

Tax information

 

Vat Number

4770242057

Status

ACTIVE

Vat Liable Date

2008/01/01

Tax Number

9367090165

Tax Clearance Expire Date

2013/10/31

Financial Year End

September

Black Economic Empowerment

Status

Yes

Score

5.00

ISO Information - No Information on Record

Workman's compensation

Registered

Yes

Compliance Certified

Yes

 

 

Company Structure

 

Subsidiaries Information - No Information on Record

 

Employees

Number of Employees

1000

1. Salaried employees

1000

Company Fleet

Company Fleet

No of vehicles:

Owned/Leased

Value

Outstanding Balance

Fleet Operations

 

 

 

 

The Fleet is made up of

3

Comment

 

Light delivery Vehicles

3

Owned

 

 

 

 

Offices

 

Offices

Offices

Head Office Owned/ Rented

Owned

Owned by

ADCOCK INGRAM HOLDINGS LIMITED

Type of Premises

OFFICES AND WAREHOUSE

Branch Information

Branches Names

Country

Province

DURBAN

South Africa

KWAZULU NATAL

CAPE TOWN

South Africa

EASTERN CAPE

BLOEMFOTEIN

South Africa

FREE STATE

PORT ELIZABETH

South Africa

WESTERN CAPE

 

 

Management Overview

Organisation Chart

Level

Position

Name

Comment

 

1

DIRECTOR

NTONDO SIMELANE

 

 

1

DIRECTOR

JONATHAN LOUW

 

 

1

DIRECTOR

ANDREW HALL

 

 

 

Company Structure (Ownership)

Note: One level up and all levels down

 

Holding

Company

Sub

Comment

100% ADCOCKINGRAM HOLDING LIMITED

ADCOCK INGRAM HEALTHCARE (PTY) LTD

 

 

 

Key Deals - No Information on Record

 

trade References

 

 

Trade Reference nr

Supplier

Contact

Surety Value

Notarial Bonds

Comment

1

LEE ROY

0117876672

 

 

 

2

INKOSI ADVERTISING

0117936192

 

 

 

3

CITY

0114582222

 

 

 

 

 

Trade References details

 

Nr

Age of Acc

Credit Limit

Max Credit

Terms

Average Purchases

Terms Taken

Comment

1

1988

R0.00

R 900000

30 DAYS

R100000

30 DAYS

NO CREDIT LIMIT-OPEN ACCOUNT-EXCELLENT

2

10 YEARS

R0.00

R 300000

30 DAYS

R100000

30 DAYS

NO CREDIT LIMIT-OPEN ACCOUNT-VERY GOOD ACCOUNT

3

11 YEARS

R0.00

R0

30 DAYS

R0

30 DAYS

OPEN ACCOUNT- NO CREDIT LIMIT-FIGURES DEEMED CONFIDENTIAL

 


Adverse Information on Subject

 

Judgements - No information on record

 

Business Rescue - No Information on Record

 

Default Listing - No information on record

 

Notarial Bonds - No information on record

 

 

Bank information

 

Bank

NEDBANK

Branch

CORPARATE SERVICES

Brach Code

145405

Bank Account Number

ACCOUNT NUMBER DEEMED CONFIDENTIAL

Type of Account

CURRENT

Account Name

ADCOCK INGRAM HEALTHCARE (PTY) LTD

Overdraft Facilities

YES

Bank Code

ACCOUNT NUMBER DEEMED CONFIDENTIAL

 

Bank Code History - No Information on Record

 

Previous Bank Account Information - No Information on Record

 

 

Deeds Information

Property Interests for CompanyADCOCK INGRAM HEALTHCARE (PTY)LTD

 

Title Deed No.

T104234/2004

Erf/Site No.

 

Deeds Office

CAPE TOWN

Physical Address

CROSSROADS GUGULETU

Property Type

Freehold / Ervin

Extent / Size

85.0SQM

Purchase Date

2001/05/09

Purchase price

 

% Ownership

0.00

Bond Holder

 

 

Title Deed No.

TE7119/2009

Erf/Site No.

 

Deeds Office

BLOEMFONTEIN

Physical Address

DITLHAKE KOFFIEFONTEIN

Property Type

Freehold / Ervin

Extent / Size

324.0SQM

Purchase Date

1979/10/09

Purchase price

 

% Ownership

0.00

Bond Holder

 

Bond Number

I-95171986LG-860917

Bond Amount

 

 

Title Deed No.

TE7119/2009

Erf/Site No.

 

Deeds Office

BLOEMFONTEIN

Physical Address

DITLHAKE KOFFIEFONTEIN

Property Type

Freehold / Ervin

Extent / Size

324.0SQM

Purchase Date

1979/10/09

Purchase price

 

% Ownership

0.00

Bond Holder

 

Bond Number

I-95171986LG-860917

Bond Amount

 

 

Title Deed No.

T90542/2004

Erf/Site No.

 

Deeds Office

CAPE TOWN

Physical Address

119 ATHENS SAXONSEA ATLANTIS

Property Type

Freehold / Ervin

Extent / Size

350.0SQM

Purchase Date

2004/05/14

Purchase price

 

% Ownership

0.00

Bond Holder

STANDARD BANK OF SOUTH AFRICA L

Bond Number

B738872004

Bond Amount

 

 

Title Deed No.

T90515/2004

Erf/Site No.

 

Deeds Office

CAPE TOWN

Physical Address

MILNERTON MILNERTON

Property Type

Freehold / Ervin

Extent / Size

469.0SQM

Purchase Date

2004/05/07

Purchase price

 

% Ownership

0.00

Bond Holder

STANDARD BANK OF SOUTH AFRICA L

Bond Number

B738632004

Bond Amount

 

 

Title Deed No.

T90508/1999

Erf/Site No.

0

Deeds Office

CAPE TOWN

Physical Address

PALM PARK BLUE DOWNS

Property Type

Freehold / Ervin

Extent / Size

1422.0SQM

Purchase Date

1999/09/10

Purchase price

 

% Ownership

0.00

Bond Holder

 

Bond Number

 

Bond Amount

 

 

Title Deed No.

T40345/2011

Erf/Site No.

 

Deeds Office

PRETORIA

Physical Address

40 JEUGD POTCHEFSTROOM POTCHEFSTROOM

Property Type

Freehold / Ervin

Extent / Size

873.0SQM

Purchase Date

2009/09/22

Purchase price

 

% Ownership

0.00

Bond Holder

 

Bond Number

 

Bond Amount

 

 

 

Financial information

 

Comment

Please find the group financials attached.

 

Please note the following:

Turnover and assets less than R 1,000,000.00

The subject falls within the National Credit Act

Turnover and assets less than R 2,000,000.00

The subject falls within the Consumer Protection Act

Principals

 

Number of Principals

3

Average Age of Active Principals

44

 

Active Principals Principal - 1of 3 NTANDO SIMELANE

Surname

SIMELANE

First Name

NTANDO

Other Names

None

ID Number

7111195397086

Verified ID Number

Yes

Current Age

41

Designation

DIRECTOR

Status

Active

Appointment Date

2011/04/01

Physical Address (at time of Appointment)

81 MINUACH ROAD, HIGHWAY GARDENS, EDENVALE, 1609

Postal Address

PRIVATE BAG X69, BRYANSTON, 1685

Current Tel Number

0117143597

Cell number

0824661310

Shareholding/Membership

0.0000

 

Principal's Adverse - No information on record

 

Business Information for NTANDO SIMELANE

 

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

METAMORPHOSA (PTY) LTD

M1937/010436/07

In Business

75 Years 3 Months

0

No

 

ADCOCK INGRAM LTD

M1949/034385/06

In Business

63 Years 3 Months

0

No

 

THE PREMIER PHARMACEUTICAL COMPANY LTD

M1965/002551/06

In Business

47 Years 11 Months

0

No

 

NOVARTIS OPHTHALMICS (PTY) LTD

M1978/000788/07

In Business

34 Years 10 Months

0

No

 

ADCOCK INGRAM INTELLECTUAL PROPERTY NO 1 (PTY) LTD

M1984/001986/07

In Business

28 Years 4 Months

0

No

 

DILWED INVESTMENTS (PTY) LTD

M1995/006722/07

In Business

17 Years 5 Months

0

No

 

ADCOCK INGRAM INTELLECTUAL PROPERTY (PTY) LTD

M2000/004110/07

In Business

0

0

No

 

ADCOCK INGRAM CRITICAL CARE (PTY) LTD

M2000/004208/07

In Business

0

0

No

 

THEMBALAMI PHARMACEUTICALS (PTY) LTD

M2001/024352/07

In Business

11 Years 11 Months

0

No

 

ADCOCK INGRAM HOLDINGS LTD

M2007/016236/06

In Business

5 Years 5 Months

0

No

 

ADCOCK INGRAM HEALTHCARE (PTY) LTD

M2007/019928/07

In Business

5 Years 5 Months

0

No

 

ADCOCK INGRAM INTERNATIONAL (PTY) LTD

M2007/033504/07

In Business

5 Years 5 Months

0

No

 

 

Principal Previous Business Interests

 

Average Age of Previous Business                                               18 years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

ADCOCK INGRAM HOUSECARE (PTY)LTD

M1972/005657/07

In Business

40 Years 4 Months

0

No

 

SOUTH AFRICAN BROADCASTING CORPORATION LTD

M2003/023915/06

In Business

9 Years 9 Months

0

No

 

ADDCLIN RESEARCH (PTY) LTD

M2006/000842/07

In Business

6 Years 6 Months

0

No

 

Principal's Deeds Information - No information on record

 

Principal - 2of 3 JONATHAN LOUW

Surname

LOUW

First Name

JONATHAN

Other Names

None

ID Number

6911115272082

Verified ID Number

Yes

Current Age

43

Designation

DIRECTOR

Status

Active

Appointment Date

2008/01/25

Physical Address (at time of Appointment)

1903  AUGUSTUS WAY, DAINFERN VALLEY, FOURWAYS, 2055

Postal Address

PRIVATE BAG X69, BRYANSTON, Gauteng, 2021

Current Tel Number

0116350101

Cell number

0828477777

Shareholding/Membership

0.0000

 

Principal's Adverse - No information on record

 

Business Information for JONATHAN LOUW

 

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

ADCOCK INGRAM

PHARMACEUTICALS

LTD

1916/004852/06

In Business

0

0

No

 

ADCOCK INGRAM PHARMACEUTICALS (PTY) LTD

M1916/004852/07

In Business

0

0

No

 

METAMORPHOSA (PTY) LTD

M1937/010436/07

In Business

75 Years 3 Months

0

No

 

ADCOCK INGRAM LTD

M1949/034385/06

In Business

63 Years 3 Months

0

No

 

THE PREMIER PHARMACEUTICAL COMPANY LTD

M1965/002551/06

In Business

47 Years 11 Months

0

No

 

PHARMACEUTICAL INDUSTRY ASSOCIATION OF SOUTH AFRICA

M1967/005082/08

In Business

45 Years 9 Months

0

No

 

ADCOCK INGRAM HOUSECARE (PTY) LTD

M1972/005657/07

In Business

40 Years 4 Months

0

No

 

NOVARTIS OPHTHALMICS (PTY) LTD

M1978/000788/07

In Business

34 Years 10 Months

0

No

 

ADCOCK INGRAM INTELLECTUAL PROPERTY NO 1 (PTY) LTD

M1984/001986/07

In Business

28 Years 4 Months

0

No

 

MENARINI SA (PTY) LTD

M1993/004756/07

In Business

19 Years 7 Months

0

No

 

DILWED INVESTMENTS (PTY) LTD

M1995/006722/07

In Business

17 Years 5 Months

0

No

 

ADCOCK INGRAM INTELLECTUAL PROPERTY (PTY) LTD

M2000/004110/07

In Business

0

0

No

 

THEMBALAMI PHARMACEUTICALS (PTY) LTD

M2001/024352/07

In Business

11 Years 11 Months

0

No

 

ADCOCK INGRAM HOLDINGS LTD

M2007/016236/06

In Business

5 Years 5 Months

0

No

 

ADCOCK INGRAM HEALTHCARE (PTY) LTD

M2007/019928/07

In Business

5 Years 5 Months

0

No

 

ADCOCK INGRAM

INTERNATIONAL

(PTY) LTD

M2007/033504/07

In Business

5 Years 5 Months

0

No

 

 

Principal Previous Business Interests

 

Average Age of Previous Business                                                           37 years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

PHARMA II INVESTMENTS (PTY) LTD

M1934/005888/07

In Business

78 Years 6 Months

2

No

 

PHARMA 1 HOLDINGS (PTY) LTD

M1978/003199/07

In Business

34 Years 10 Months

0

No

 

ADCOCK INGRAM CRITICAL CARE (PTY) LTD

M2000/004208/07

In Business

 

0

No

 

 

 

Principal's Deeds Information - No information on record

 

Principal - 3of 3 ANDREW HALL

Surname

HALL

First Name

ANDREW

Other Names

None

ID Number

6207175020085

Verified ID Number

Yes

Current Age

50

Designation

DIRECTOR

Status

Active

Appointment Date

2008/01/25

Physical Address (at time of Appointment)

A 702 SANDHURST GARDENS, CNR 5TH & FREDMAN, SANDHURST EXT 5, 2196

Postal Address

PRIVATE BAG X 9, BRYANSTON, 2021

Current Tel Number

0114981000

Cell number

0824510818

Shareholding/Membership

0.0000

 

Principal's Adverse - No information on record

 

Business Information for ANDREW HALL

Principal Current Business Interests

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

ADCOCK INGRAM

PHARMACEUTICALS

LTD

1916/004852/06

In Business

0

0

No

 

ADCOCK INGRAM PHARMACEUTICALS (PTY) LTD

M1916/004852/07

In Business

0

0

No

 

METAMORPHOSA (PTY) LTD

M1937/010436/07

In Business

75 Years 3 Months

0

No

 

ADCOCK INGRAM LTD

M1949/034385/06

In Business

63 Years 3 Months

0

No

 

THE PREMIER PHARMACEUTICAL COMPANY LTD

M1965/002551/06

In Business

47 Years 11 Months

0

No

 

ADCOCK INGRAM HOUSECARE (PTY) LTD

M1972/005657/07

In Business

40 Years 4 Months

0

No

 

NOVARTIS OPHTHALMICS (PTY) LTD

M1978/000788/07

In Business

34 Years 10 Months

0

No

 

ADCOCK INGRAM INTELLECTUAL PROPERTY NO 1 (PTY) LTD

M1984/001986/07

In Business

28 Years 4 Months

0

No

 

MENARINI SA (PTY) LTD

M1993/004756/07

In Business

19 Years 7 Months

0

No

 

DILWED INVESTMENTS (PTY) LTD

M1995/006722/07

In Business

17 Years 5 Months

0

No

 

ADCOCK INGRAM INTELLECTUAL PROPERTY (PTY) LTD

M2000/004110/07

In Business

0

0

No

 

ADCOCK INGRAM HOLDINGS LTD

M2007/016236/06

In Business

5 Years 5 Months

0

No

 

ADCOCK INGRAM HEALTHCARE (PTY) LTD

M2007/019928/07

In Business

5 Years 5 Months

0

No

 

ADCOCK INGRAM INTERNATIONAL (PTY) LTD

M2007/033504/07

In Business

5 Years 5 Months

0

No

 

 

rincipal Previous Business Interests

Average Age of Previous Business                                                                                   22 years

 

Company Name

Registration No

Status

Age of Business

Judgements

Liquidation

Comment

MEDPRO

PHARMACEUTICA CC

B1986/012244/23

Conversion CO/CC orCC/CO

26 Years 2 Months

0

No

 

BIOHARMONY CC

B1990/011900/23

Conversion CO/CC orCC/CO

22 Years 10 Months

0

No

 

PHARMA II INVESTMENTS (PTY) LTD

M1934/005888/07

In Business

78 Years 6 Months

2

No

 

ERNST AND YOUNG SERVICES (PTY)LTD

M1955/000930/07

In Business

57 Years 9 Months

0

No

 

KAMILLEN PHARMACEUTICALS (PTY) LTD

M1969/006528/07

Deregistration Final

43 Years 7 Months

0

No

 

MARICO SOUTH AFRICA (PTY)LTD

M1977/001752/07

In Business

35 Years 11 Months

0

No

 

PHARMA 1 HOLDINGS (PTY) LTD

M1978/003199/07

In Business

34 Years 10 Months

0

No

 

CPF INTERNATIONAL CC

M1988/029724/23

Conversion CO/CC orCC/CO

 

0

No

 

CIPLA-MEDPRO (PTY) LTD

M1995/004182/07

In Business

17 Years 5 Months

0

No

 

ZEDCHEM (PTY)LTD

M1995/013898/07

Deregistration Final

17 Years 5 Months

0

No

 

ADCOCK INGRAM CRITICAL CARE (PTY) LTD

M2000/004208/07

In Business

 

0

No

 

CIPLA MEDPRO HOLDINGS (PTY)LTD

M2000/018468/07

In Business

 

0

No

 

CIPLA MEDPRO SOUTH AFRICA LTD

M2002/018027/06

In Business

10 Years 10 Months

0

No

 

ALDABRI 53 (PTY)LTD

M2004/002183/07

In Business

8 Years 8 Months

0

No

 

INYANGA TRADING 386 (PTY)LTD

M2005/041572/07

In Business

7 Years 7 Months

0

No

 

GALILEE MARKETING (PTY) LTD

M2006/027361/07

In Business

6 Years 6 Months

0

No

 

 

Principal's Deeds Information - No information on record


FOREIGN EXCHANGE RATES

 

Currency

Unit

Indian Rupees

US Dollar

1

Rs.53.59

UK Pound

1

Rs.85.81

Euro

1

Rs.69.91

 

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%)

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.