MIRA
INFORM REPORT
|
Report Date : |
06.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
AUTOPACK
COMPANY LIMITED |
|
|
|
|
Registered Office : |
98/50 Moo 11,
Phutthamonthon Sai 5
Road, Raiking,
Sampran, Nakhonpathom 73210 |
|
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|
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Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2011 |
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|
|
Date of Incorporation : |
08.07.1992 |
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|
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Com. Reg. No.: |
0105535100306 |
|
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|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturer, distributor and exporter of industrial machinery |
|
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|
No. of Employees : |
80 |
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 |
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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) |
|
Thailand |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
thailand - ECONOMIC OVERVIEW
With a well-developed infrastructure, a free-enterprise economy, generally pro-investment policies, and strong export industries, Thailand enjoyed solid growth from 2000 to 2007 - averaging more than 4% per year - as it recovered from the Asian financial crisis of 1997-98. Thai exports - mostly machinery and electronic components, agricultural commodities, and jewelry - continue to drive the economy, accounting for more than half of GDP. The global financial crisis of 2008-09 severely cut Thailand's exports, with most sectors experiencing double-digit drops. In 2009, the economy contracted 2.3%. In 2010, Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports rebounded from their depressed 2009 level. Steady economic growth at just below 4% during the first three quarters of 2011 was interrupted by historic flooding in October and November in the industrial areas north of Bangkok, crippling the manufacturing sector and leading to a revised growth rate of only 0.1% for the year. The industrial sector is poised to recover from the second quarter of 2012 onward, however, and the government anticipates the economy will probably grow between 5.5 and 6.5% for 2012, while private sector forecasts range between 3.8% and 5.7%.
|
Source : CIA |
Company name
AUTOPACK COMPANY LIMITED
SUMMARY
BUSINESS
ADDRESS : 98/50
MOO 11, PHUTTHAMONTHON SAI
5 ROAD,
RAIKING, SAMPRAN,
NAKHONPATHOM 73210
TELEPHONE : [66] 2811-8340
FAX :
[66] 2811-8341
E-MAIL
ADDRESS : sales-th@autopack.com
bb@autopack.com.au
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1992
REGISTRATION
NO. : 0105535100306
TAX
ID NO. : 3011063200
CAPITAL REGISTERED : BHT. 12,000,000
CAPITAL PAID-UP : BHT.
12,000,000
SHAREHOLDER’S PROPORTION : THAI :
51%
FOREIGN : 49%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR. BOGUMIL BUDZYNOWSKI,
AUSTRALIAN
PRESIDENT
NO.
OF STAFF : 80
LINES
OF BUSINESS : INDUSTRIAL MACHINERY
MANUFACTURER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
GOOD PERFORMANCE
HISTORY
The
subject was established
on July 8,
1992 as a
private limited company under
the originally registered
name “Pack Technology
Co., Ltd.”, by
Thai groups. On
March 9, 2005, its
registered name was changed to
AUTOPACK COMPANY LIMITED.
Subject’s business objective is
a manufacture various industrial
machineries to both domestic and international markets. It
currently employs approximate 80 staff.
The subject’s registered
address is 98/50
Moo 11, Phutthamonthon Sai 5 Rd., Raiking,
Sampran, Nakhonpathom 73210,
and this is
the subject’s current
operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Bogumil Budzynowski |
|
Australian |
67 |
|
Mr. Apiwat Yamastian |
|
Thai |
61 |
|
Mr. Tan Geck Chung |
|
Singaporean |
72 |
AUTHORIZED PERSON
Any two of
the above directors
can jointly sign
on behalf of
the subject with
company’s affixed.
MANAGEMENT
Mr. Bogumil Budzynowski is the
President.
He is Australian
nationality with the
age of 67
years old.
Mr. June Pattaramool is
the Area Sales
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject
is engaged in
manufacturing, assembling and distributing various
industrial machineries, such
as shrink packaging
machine, shrink film
wrapping machine, shrink
sleeving machine, automation
bundle wrappers, tray
packing machine and
others, under its
own brand “AUTOPACK”, used
in pharmaceuticals, foods & beverage and
cosmetic industry.
PURCHASE
Raw
materials, machine parts
and spare parts
are purchased from
suppliers both domestic
and overseas, mainly
in Australia, Singapore
and Republic of China.
MAJOR
SUPPLIER
A.B.
Autopack Pty. Ltd. : Australia
SALES
60% of the
products is exported
to Australia, Japan,
Singapore, U.S.A. and
Europe, the remaining
40% is sold
locally.
MAJOR CUSTOMER
Tipco Food Public
Company Limited : Thailand
The Peace Canning [1958] Co.,
Ltd. : Thailand
Universal Food Public
Company Limited :
Thailand
Siam Food Public
Company Limited : Thailand
Thai Agri Foods
Public Company Limited : Thailand
Tropical Food Industries
Co., Ltd. : Thailand
Malee Sampran Public
Company Limited :
Thailand
Yan Wal Yun
Co., Ltd. :
Thailand
Pathum Vegetable Oil
Co., Ltd. :
Thailand
SUBSIDIARY AND AFFILIATED
COMPANY
The subject is
not found to
have any subsidiary
or affiliated company
here in Thailand.
LITIGATION
Bankruptcy and
Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
for the past
two years.
CREDIT
Sales are by
cash or on
the credits term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Co.,
Ltd.
EMPLOYMENT
The
subject employs approximately
80 office staff
and factory workers.
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial,
on the outskirts
of Bangkok.
COMMENT
Subject’s
business performance in
2011 was satisfactory
with an increase
in both sales
revenue and net profit
comparing to the
previous year’s level.
Its products are
widely accepted in
many industries both
local and overseas.
The subject expects
a good business
this year as
well from a high
demand of the
products from related
industries of new
and regular customers.
FINANCIAL INFORMATION
The
capital was registered at
Bht. 3,000,000 divided into 30,000 shares of Bht. 100
each with fully
paid.
On
January 12, 2008, its
registered capital was
increased to Bht. 12,000,000 divided
into 120,000 shares
of Bht. 100 each
with fully paid.
THE
SHAREHOLDERS LISTED WERE
: [as at
April 29, 2012]
|
NAME |
HOLDING |
% |
|
|
|
|
|
A.B. Autopack Pty.
Ltd. Nationality: Australian Address : 4/26
Mouth Street, Sydney,
Australia |
30,000 |
25.00 |
|
Modular Compound Co.,
Ltd. Nationality: Thai Address : 50/86
Moo 5, Petchkasem
Rd., Raiking, Sampran, Nakhonpathom |
25,920 |
21.60 |
|
Mr. Banjerd Sap-aran Nationality: Thai Address : 1
Soi Chonburi-Banbung Rd.,
Banbung, Chonburi |
23,288 |
19.41 |
|
Mr. Tan Geck Suan Nationality: Singaporean Address : Singapore |
14,400 |
12.00 |
|
Mr. Tan Geck Chung Nationality: Singaporean Address : Singapore |
14,400 |
12.00 |
|
Mr. Apiwat Yamastian Nationality: Thai Address : 532/1
Sathupradit Rd., Bangpongpang,
Yannawa, Bangkok |
11,992 |
9.99 |
Total Shareholders : 6
Share Structure [as
at April 29,
2012]
|
Nationality |
Shareholders |
No. of Share |
% Shares |
|
|
|
|
|
|
Thai |
3 |
61,200 |
51.00 |
|
Foreign |
3 |
58,800 |
49.00 |
|
Total |
6 |
120,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Dusit Damrongthamwattana No.
6928
BALANCE SHEET [BAHT]
The
latest financial figures
published for December 31,
2011, 2010 &
2009 were:
ASSETS
|
Current Assets |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Cash and Cash Equivalent |
53,800,101.35 |
30,692,216.39 |
15,932,913.36 |
|
Short-term Investment |
15,207,950.00 |
15,335,711.65 |
- |
|
Trade Accounts Receivable |
41,914,292.40 |
27,064,379.96 |
59,652,903.47 |
|
Inventories |
55,858,454.13 |
34,108,176.01 |
28,224,585.14 |
|
Other Current Assets |
1,274,231.80 |
749,507.62 |
795,006.71 |
|
|
|
|
|
|
Total Current Assets
|
168,055,029.68 |
107,949,991.63 |
104,605,408.68 |
|
|
|
|
|
|
Fixed Assets |
12,003,320.71 |
11,975,391.33 |
12,253,068.60 |
|
Other Non-current Assets |
44,833.64 |
45,233.64 |
42,233.64 |
|
Total Assets |
180,103,184.03 |
119,970,616.60 |
116,900,710.92 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current Liabilities |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Trade Accounts Payable |
29,320,378.57 |
21,679,717.83 |
24,329,827.95 |
|
Accrued Income Tax |
17,024,692.09 |
16,698.99 |
6,248,032.87 |
|
Other Payable |
- |
- |
615,118.16 |
|
Other Current Liabilities |
24,593,888.17 |
29,564,575.28 |
15,219,323.61 |
|
|
|
|
|
|
Total Current Liabilities |
70,938,958.83 |
51,260,992.10 |
46,412,302.59 |
|
Total Liabilities |
70,938,958.83 |
51,260,992.10 |
46,412,302.59 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100 par value
authorized, issued
and fully paid share
capital 120,000 shares |
12,000,000.00 |
12,000,000.00 |
12,000,000.00 |
|
|
|
|
|
|
Capital Paid |
12,000,000.00 |
12,000,000.00 |
12,000,000.00 |
|
Statutory Reserve |
1,200,000.00 |
1,200,000.00 |
1,200,000.00 |
|
Retained Earning-
Unappropriated |
95,964,225.20 |
55,509,624.50 |
57,288,408.33 |
|
Total Shareholders' Equity |
109,164,225.20 |
68,709,624.50 |
70,488,408.33 |
|
Total Liabilities &
Shareholders' Equity |
180,103,184.03 |
119,970,616.60 |
116,900,710.92 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2011 |
2010 |
2009 |
|
|
|
|
|
|
Sales Income |
225,603,318.69 |
144,545,454.93 |
174,032,924.14 |
|
Other Income |
5,426,622.94 |
4,082,132.62 |
2,667,097.14 |
|
Total Revenues |
231,029,941.63 |
148,627,587.55 |
176,700,021.28 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
135,206,551.93 |
106,099,631.41 |
122,574,756.18 |
|
Selling Expenses |
14,536,648.56 |
12,043,082.61 |
9,456,697.54 |
|
Administrative Expenses |
16,838,780.55 |
22,845,758.47 |
15,399,358.11 |
|
Total Expenses |
166,581,981.04 |
140,988,472.49 |
147,430,811.83 |
|
Profit before Income Tax |
64,447,960.59 |
7,639,115.06 |
29,269,209.45 |
|
Income Tax |
[18,993,359.89] |
[3,417,898.89] |
[8,768,125.99] |
|
|
|
|
|
|
Net Profit / [Loss] |
45,454,600.70 |
4,221,216.17 |
20,501,083.46 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2011 |
2010 |
2009 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.37 |
2.11 |
2.25 |
|
QUICK RATIO |
TIMES |
1.56 |
1.43 |
1.63 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
18.80 |
12.07 |
14.20 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.25 |
1.20 |
1.49 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
150.79 |
117.34 |
84.05 |
|
INVENTORY TURNOVER |
TIMES |
2.42 |
3.11 |
4.34 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
67.81 |
68.34 |
125.11 |
|
RECEIVABLES TURNOVER |
TIMES |
5.38 |
5.34 |
2.92 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
79.15 |
74.58 |
72.45 |
|
CASH CONVERSION CYCLE |
DAYS |
139.45 |
111.10 |
136.71 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
59.93 |
73.40 |
70.43 |
|
SELLING & ADMINISTRATION |
% |
13.91 |
24.14 |
14.28 |
|
INTEREST |
% |
- |
- |
- |
|
GROSS PROFIT MARGIN |
% |
42.47 |
29.42 |
31.10 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
28.57 |
5.28 |
16.82 |
|
NET PROFIT MARGIN |
% |
20.15 |
2.92 |
11.78 |
|
RETURN ON EQUITY |
% |
41.64 |
6.14 |
29.08 |
|
RETURN ON ASSET |
% |
25.24 |
3.52 |
17.54 |
|
EARNING PER SHARE |
BAHT |
378.79 |
35.18 |
170.84 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.39 |
0.43 |
0.40 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.65 |
0.75 |
0.66 |
|
TIME INTEREST EARNED |
TIMES |
- |
- |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
56.08 |
(16.94) |
|
|
OPERATING PROFIT |
% |
743.66 |
(73.90) |
|
|
NET PROFIT |
% |
976.81 |
(79.41) |
|
|
FIXED ASSETS |
% |
0.23 |
(2.27) |
|
|
TOTAL ASSETS |
% |
50.12 |
2.63 |
|
ANNUAL GROWTH :
EXCELLENT
An annual sales growth is 56.08%. Turnover has increased from THB
144,545,454.93 in 2010 to THB 225,603,318.69 in 2011. While net profit has increased
from THB 4,221,216.17 in 2010 to THB 45,454,600.70 in 2011. And total assets
has increased from THB 119,970,616.60 in 2010 to THB 180,103,184.03 in 2011.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
42.47 |
Impressive |
Industrial Average |
21.18 |
|
Net Profit Margin |
20.15 |
Impressive |
Industrial Average |
2.05 |
|
Return on Assets |
25.24 |
Impressive |
Industrial Average |
2.10 |
|
Return on Equity |
41.64 |
Impressive |
Industrial Average |
5.18 |
Gross Profit Margin used to assess a firm's financial health by
revealing the proportion of money left over from revenues after accounting for
the cost of goods sold. Gross profit margin serves as the source for paying
additional expenses and future savings. Gross Profit Margin is 42.47%. When compared with the industry
average, the ratio of the company was higher, indicated that company was more
profitable than the same industry.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. Net Profit Margin ratio is 20.15%,
higher figure when compared with those of its average competitors in the same
industry, indicated that business was an efficient operator in a dominant
position within its industry.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. Return on Assets ratio is
25.24%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a
dominant position within its industry.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. Return on Equity ratio
is 41.64%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant
position within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Downtrend
Return on Equity Downtrend
LIQUIDITY :
SATISFACTORY
LIQUIDITY RATIO
|
Current Ratio |
2.37 |
Impressive |
Industrial Average |
1.46 |
|
Quick Ratio |
1.56 |
|
|
|
|
Cash Conversion Cycle |
139.45 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets
are readily available to pay off its short-term liabilities. The company's figure
is 2.37 times in 2011, decrease from 2.11 times, then it is generally
considered to have good short-term financial strength. When compared with the
industry average, the ratio of the company was higher, indicated that company
was an efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 1.56 times in 2011,
decrease from 1.43 times, although excluding inventory so the company still
have good short-term financial strength.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 140 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.39 |
Impressive |
Industrial Average |
0.57 |
|
Debt to Equity Ratio |
0.65 |
Impressive |
Industrial Average |
1.44 |
|
Times Interest Earned |
- |
|
Industrial Average |
2.76 |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the
shareholders have committed. A lower the percentage means that the company is
using less leverage and has a stronger equity position.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.39 less than 0.5, most of the company's
assets are financed through equity.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Downtrend
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
18.80 |
Impressive |
Industrial Average |
2.49 |
|
Total Assets Turnover |
1.25 |
Impressive |
Industrial Average |
1.03 |
|
Inventory Conversion Period |
150.79 |
|
|
|
|
Inventory Turnover |
2.42 |
Satisfactory |
Industrial Average |
2.78 |
|
Receivables Conversion Period |
67.81 |
|
|
|
|
Receivables Turnover |
5.38 |
Impressive |
Industrial Average |
3.83 |
|
Payables Conversion Period |
79.15 |
|
|
|
The company's Account Receivable Ratio is calculated as 5.38 and 5.34 in
2011 and 2010 respectively. This ratio measures the efficiency of the company in
managing its trade debtors to generate revenue. A lower ratio may indicate over
extension and collection problems. Conversely, a higher ratio may indicate an
overtly stringent policy. In this case, the company's A/R ratio in 2011
increased from 2010. This would suggest the company had good performance in the
management of its debt collections.
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has increased from 117 days at the
end of 2010 to 151 days at the end of 2011. This represents a negative trend.
And Inventory turnover has decreased from 3.11 times in year 2010 to 2.42 times
in year 2011.
The company's Total Asset Turnover is calculated as 1.25 times and 1.2
times in 2011 and 2010 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Downtrend
Total Assets Turnover Downtrend
Inventory Turnover Downtrend
Receivables Turnover Downtrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
UK Pound |
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.70.90 |
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.