MIRA
INFORM REPORT
|
Report Date : |
02.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
T.N.K. DIAM
CO., LTD. |
|
|
|
|
Registered Office : |
39th Floor,
Jewellery Trade Center, 919/470 Silom
Road, Silom, Bangrak,
Bangkok 10500, |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
14.03.1997 |
|
|
|
|
Com. Reg. No.: |
0105540026763 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Importer, Distributor and Exporter of Diamonds and Jewelry Products |
|
|
|
|
No. of Employees : |
8 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
Payment Behaviour : |
Slow but correct |
|
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, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 achieved steady growth due largely to
industrial and agriculture exports - mostly electronics, agricultural
commodities, automobiles and parts, and processed foods. Thailand is trying to
maintain growth by encouraging domestic consumption and public investment to
offset weak exports in 2012. Unemployment, at less than 1% of the labor force,
stands as one of the lowest levels in the world, which puts upward pressure on
wages in some industries. Thailand also attracts nearly 2.5 million migrant
workers from neighboring countries. The Thai government is implementing a
nation-wide 300 baht ($10) per day minimum wage policy and deploying new tax
reforms designed to lower rates on middle-income earners. The Thai economy has
weathered internal and external economic shocks in recent years. The global
economic crisis severely cut Thailand's exports, with most sectors experiencing
double-digit drops. In 2009, the economy contracted 2.3%. However, in 2010,
Thailand's economy expanded 7.8%, its fastest pace since 1995, as exports
rebounded. In late 2011 growth was interrupted by historic flooding in the
industrial areas in Bangkok and its five surrounding provinces, crippling the
manufacturing sector. Industry recovered from the second quarter of 2012 onward
with GDP growth at 5.5% in 2012. The government has approved flood mitigation
projects worth $11.7 billion, which were started in 2012, to prevent similar
economic damage, and an additional $75 billion for infrastructure over the next
seven years with a plan to start in 2013
|
Source
: CIA |
Company name
T.N.K.
DIAM CO., LTD.
SUMMARY
BUSINESS
ADDRESS : 39th FLOOR,
JEWELLERY TRADE CENTER,
919/470
SILOM ROAD, SILOM,
BANGRAK, BANGKOK 10500,
THAILAND
TELEPHONE : [66] 2630-0060-1,
081 843-0279
FAX : [66]
2630-0062
E-MAIL
ADDRESS : tnkdiam@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1997
REGISTRATION
NO. : 0105540026763
TAX
ID NO. : 3011826454
CAPITAL REGISTERED : BHT.
23,000,000
CAPITAL PAID-UP : BHT
23,000,000
SHAREHOLDER’S PROPORTION : THAI :
51%
INDIAN
: 49%
FISCAL
YEAR CLOSING DATE : DECEMBER
31
LEGAL
STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
JIGESH SATISH SHAH,
INDIAN
MANAGING
DIRECTOR
NO.
OF STAFF : 8
LINES
OF BUSINESS : DIAMONDS
AND JEWELRY PRODUCTS
IMPORTER, DISTRIBUTOR
AND EXPORTER
CORPORATE PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : GOOD
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The subject was
established on March
14, 1997 as a
private limited company
under the name style
T.N.K. DIAM CO., LTD. by
Thai and Indian
groups, in order
to import and
distribute diamonds and
jewelry products to
both local and
overseas markets. It
currently employs 8
staff.
The subject’s registered
address is 39th Floor,
Jewellery Trade Center,
919/470 Silom Rd., Silom,
Bangrak, Bangkok 10500,
and this is
the company’s current
operation address.
THE BOARD OF
DIRECTORS
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Jigesh Satish Shah |
|
Indian |
35 |
|
Mr. Hiral Hetendra Shah |
|
Indian |
31 |
|
Mr. Ritesh Mukesh
Shah |
|
Indian |
31 |
AUTHORIZED PERSON
Anyone of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Jigesh Satish
Shah is the
Managing Director.
He is Indian
nationality with the
age of 35
years old.
Mr. Hiral Hetendra Shah is
the Assistant Managing
Director.
He is Indian
nationality with the
age of 31 years
old.
BUSINESS OPERATIONS
The subject is engaged in
importing and distributing various
sizes and color of diamonds,
gemstones and jewelry
products, as well
as exporting of
diamond, pearl, gemstones
and jewelry products.
PURCHASE
Most of the products
are imported from
India, Hong Kong,
Japan, Pakistan and Africa.
SALES [LOCAL]
The products are
sold by wholesale
to traders and
manufacturers.
EXPORT
Jewelry products, diamond
and gemstones are
exported to United States
of America, Hong
Kong, Japan, Cambodia, Middle
East and European
countries.
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
according 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
credit terms of
30-60 days.
Imports are by
L/C at sight
or T/T.
Exports are against
T/T.
BUSINESS TRANSACTION
The products are
sold to customers
by cash and
credit, with the
maximum credit given at
30-60 days. The subject
is not found to have
problem on its
accounts receivable.
BANKING
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject employs
8 staff.
LOCATION DETAILS
The premise is rented for
administrative office at
the heading address.
Premise is located
in a prime commercial area.
COMMENT
The subject
has been in jewelry business for
over fifteen years with the numbers of
customers. Since the
first quarter of the
year 2013, subject’s business
performance has grown
slowly amid uncertainty
market and decline
consumption both domestic
and export markets.
FINANCIAL INFORMATION
The capital was
registered at Bht. 4,000,000 divided
into 40,000 shares
of Bht. 100
each with fully
paid.
The capital was
increased later as
follows:
Bht. 15,000,000
on November 21,
2002
Bht. 23,000,000
on March 16,
2012
The latest registered capital
was increased to Bht. 23,000,000 divided
into 230,000 shares
of Bht. 100
each with fully
paid.
THE SHAREHOLDERS LISTED
WERE : [as
at April 30, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Patipan Choochomchuen Nationality: Thai Address : 15/2
Sukhumvit 101/1 Rd.,
Bangchak,
Prakanong, Bangkok |
117,300 |
51.00 |
|
Mr. Jigesh Satish
Shah Nationality: Indian Address : 919/470
Silom Rd., Silom,
Bangrak, Bangkok |
103,500 |
45.00 |
|
Mr. Hiral Hetendra
Shah Nationality: Indian Address : 919/470
Silom Rd., Silom,
Bangrak, Bangkok |
4,600 |
2.00 |
|
Mr. Ritesh Mukesh
Shah Nationality: Indian Address : 919/470
Silom Rd., Silom,
Bangrak, Bangkok |
4,600 |
2.00 |
Total Shareholders : 4
Share Structure [as
at April 30,
2013]
|
Nationality |
Shareholders |
No. of
Share |
% Shares |
|
|
|
|
|
|
Thai |
1 |
117,300 |
51.00 |
|
Foreign
- Indian |
3 |
112,700 |
49.00 |
|
Total |
4 |
230,000 |
100.00 |
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO. :
Mr. Surin Ruangpachara
No. 3741
BALANCE SHEET [BAHT]
The
latest financial figures
published for December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash in Hand
& at Bank |
143,918.22 |
127,074.38 |
34,768.86 |
|
Trade Accounts Receivable |
401,324,622.87 |
301,202,699.94 |
185,568,092.47 |
|
Inventories |
163,594,462.38 |
91,178,195.86 |
70,258,095.90 |
|
Insurance the Phone |
8,181.81 |
- |
- |
|
|
|
|
|
|
Total Current Assets
|
565,071,185.28 |
392,507,970.18 |
255,860,957.23 |
|
Long-term Investment |
21,241,913.72 |
11,295,539.35 |
20,922,782.36 |
|
Fixed Assets |
3,669,269.83 |
5,116,807.23 |
4,136,534.30 |
|
Guarantee & Deposits |
- |
8,181.81 |
8,181.81 |
|
Vehicle |
1,019,000.00 |
- |
- |
|
Other Non-current Assets |
370,402.15 |
370,402.15 |
370,402.15 |
|
Total Assets |
591,371,770.98 |
409,298,900.72 |
281,298,857.85 |
LIABILITIES &
SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Bank Overdraft |
449,282,790.40 |
56,431,103.11 |
6,418,618.17 |
|
Trade Accounts Payable |
88,370,104.55 |
313,033,653.23 |
182,520,670.46 |
|
Installment Payable |
237,335.35 |
319,006.00 |
- |
|
Other Current Liabilities |
962,471.60 |
1,058,682.09 |
1,295,798.50 |
|
|
|
|
|
|
Total Current Liabilities |
538,852,701.90 |
370,842,444.43 |
190,235,087.13 |
|
Loan Payable -
Financial Institution |
- |
- |
54,747,934.39 |
|
Total Liabilities |
538,852,701.90 |
370,842,444.43 |
244,983,021.52 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 230,000 shares
in 2012; &
150,000 shares in
2011 & 2010 respectively |
23,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
|
|
|
|
|
Capital Paid |
23,000,000.00 |
15,000,000.00 |
15,000,000.00 |
|
Retained Earning -
Unappropriated |
29,519,069.08 |
23,456,456.29 |
21,315,836.33 |
|
Total Shareholders' Equity |
52,519,069.08 |
38,456,456.29 |
36,315,836.33 |
|
Total Liabilities &
Shareholders' Equity |
591,371,770.98 |
409,298,900.72 |
281,298,857.85 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Sales |
395,477,820.13 |
395,759,746.13 |
294,504,529.64 |
|
Profit/[Loss] on Exchange Rate |
420,757.34 |
- |
- |
|
Other Income |
- |
2,048,400.67 |
2,893,371.01 |
|
Total Revenues |
395,057,062.79 |
397,808,146.80 |
297,397,900.65 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
379,301,570.98 |
387,373,171.63 |
284,953,618.48 |
|
Selling and Administrative Expenses |
4,697,801.64 |
4,146,376.12 |
5,132,499.77 |
|
Total Expenses |
383,999,372.62 |
391,519,547.75 |
290,086,118.25 |
|
|
|
|
|
|
Profit / [Loss] before Financial Cost & Income Tax |
11,057,690.17 |
6,288,599.05 |
7,311,782.40 |
|
Financial Cost |
[3,156,270.01] |
[3,199,132.64] |
[2,717,322.61] |
|
|
|
|
|
|
Profit/[Loss] before Income Tax |
7,901,420.16 |
3,089,466.41 |
4,594,459.79 |
|
Income Tax |
[1,838,807.37] |
[948,846.45] |
[1,400,206.86] |
|
Net Profit / [Loss] |
6,062,612.79 |
2,140,619.96 |
3,194,252.93 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
1.05 |
1.06 |
1.34 |
|
QUICK RATIO |
TIMES |
0.75 |
0.81 |
0.98 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
84.35 |
77.35 |
71.20 |
|
TOTAL ASSETS TURNOVER |
TIMES |
0.67 |
0.97 |
1.05 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
157.43 |
85.91 |
89.99 |
|
INVENTORY TURNOVER |
TIMES |
2.32 |
4.25 |
4.06 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
370.40 |
277.79 |
229.99 |
|
RECEIVABLES TURNOVER |
TIMES |
0.99 |
1.31 |
1.59 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
85.04 |
294.95 |
233.79 |
|
CASH CONVERSION CYCLE |
DAYS |
442.78 |
68.75 |
86.19 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
95.91 |
97.88 |
96.76 |
|
SELLING & ADMINISTRATION |
% |
1.19 |
1.05 |
1.74 |
|
INTEREST |
% |
0.80 |
0.81 |
0.92 |
|
GROSS PROFIT MARGIN |
% |
3.98 |
2.64 |
4.23 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
2.80 |
1.59 |
2.48 |
|
NET PROFIT MARGIN |
% |
1.53 |
0.54 |
1.08 |
|
RETURN ON EQUITY |
% |
11.54 |
5.57 |
8.80 |
|
RETURN ON ASSET |
% |
1.03 |
0.52 |
1.14 |
|
EARNING PER SHARE |
BAHT |
26.36 |
14.27 |
21.30 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.91 |
0.91 |
0.87 |
|
DEBT TO EQUITY RATIO |
TIMES |
10.26 |
9.64 |
6.75 |
|
TIME INTEREST EARNED |
TIMES |
3.50 |
1.97 |
2.69 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(0.07) |
34.38 |
|
|
OPERATING PROFIT |
% |
75.84 |
(13.99) |
|
|
NET PROFIT |
% |
183.22 |
(32.99) |
|
|
FIXED ASSETS |
% |
(8.38) |
23.70 |
|
|
TOTAL ASSETS |
% |
44.48 |
45.50 |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is -0.07%. Turnover has decreased from THB
395,759,746.13 in 2011 to THB 395,477,820.13 in 2012. While net profit has
increased from THB 2,140,619.96 in 2011 to THB 6,062,612.79 in 2012. And total
assets has increased from THB 409,298,900.72 in 2011 to THB 591,371,770.98 in
2012.
PROFITABILITY :
EXCELLENT
PROFITABILITY
RATIO
|
Gross Profit Margin |
3.98 |
Impressive |
Industrial
Average |
1.88 |
|
Net Profit Margin |
1.53 |
Impressive |
Industrial
Average |
0.04 |
|
Return on Assets |
1.03 |
Impressive |
Industrial
Average |
0.43 |
|
Return on Equity |
11.54 |
Impressive |
Industrial Average |
1.93 |
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. The
company’s figure is 3.98%. 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. The company’s figure is 1.53%, 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
1.03%, 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 11.54%, 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 Uptrend
Return on Equity Uptrend
LIQUIDITY : RISKY
LIQUIDITY RATIO
|
Current Ratio |
1.05 |
Acceptable |
Industrial Average |
1.72 |
|
Quick Ratio |
0.75 |
|
|
|
|
Cash Conversion Cycle |
442.78 |
|
|
|
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 1.05 times in 2012, decreased from 1.06 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 lower.
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 0.75 times in 2012,
decreased from 0.81 times, then the company has not enough current assets that
presumably can be quickly converted to cash for pay financial obligations.
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 443 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.91 |
Acceptable |
Industrial
Average |
0.76 |
|
Debt to Equity Ratio |
10.26 |
Risky |
Industrial
Average |
3.41 |
|
Times Interest Earned |
3.50 |
Impressive |
Industrial
Average |
0.28 |
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.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 3.51 higher than 1, so the company can pay interest
expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.91 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Uptrend
Times Interest Earned Downtrend
ACTIVITY :
ACCEPTABLE
ACTIVITY RATIO
|
Fixed Assets Turnover |
84.35 |
Impressive |
Industrial
Average |
2.53 |
|
Total Assets Turnover |
0.67 |
Deteriorated |
Industrial
Average |
14.17 |
|
Inventory Conversion Period |
157.43 |
|
|
|
|
Inventory Turnover |
2.32 |
Deteriorated |
Industrial
Average |
43.91 |
|
Receivables Conversion Period |
370.40 |
|
|
|
|
Receivables Turnover |
0.99 |
Deteriorated |
Industrial
Average |
18.17 |
|
Payables Conversion Period |
85.04 |
|
|
|
The company's Account Receivable Ratio is calculated as 0.99 and 1.31 in
2012 and 2011 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 2012
decreased from 2011. This would suggest the company had deteriorated 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 86 days at the
end of 2011 to 157 days at the end of 2012. This represents a negative trend.
And Inventory turnover has decreased from 4.25 times in year 2011 to 2.32 times
in year 2012.
The company's Total Asset Turnover is calculated as 0.67 times and 0.97
times in 2012 and 2011 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 Uptrend
Inventory Turnover Uptrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.39 |
|
|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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.