MIRA
INFORM REPORT
|
Report Date : |
06.12.2013 |
IDENTIFICATION DETAILS
|
Name : |
NOBLE CLEAN FUELS LTD. |
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Registered Office : |
33 Cavendish
Square, London, W1G 0PW |
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Country : |
United Kingdom |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
05.02.2009 |
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Com. Reg. No.: |
06810620 |
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Legal Form : |
Private
Subsidiary |
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Line of Business : |
Distributors of Petroleum Products |
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No. of Employees : |
35 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
TATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
United Kingdom |
A1 |
A1 |
|
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 |
United Kingdom ECONOMIC OVERVIEW
The UK, a
leading trading power and financial center, is the second largest economy in Europe
after Germany. Over the past two decades, the government has greatly reduced
public ownership and contained the growth of social welfare programs.
Agriculture is intensive, highly mechanized, and efficient by European
standards, producing about 60% of food needs with less than 2% of the labor
force. The UK has large coal, natural gas, and oil resources, but its oil and
natural gas reserves are declining and the UK became a net importer of energy
in 2005. Services, particularly banking, insurance, and business services,
account by far for the largest proportion of GDP while industry continues to
decline in importance. After emerging from recession in 1992, Britain's economy
enjoyed the longest period of expansion on record during which time growth outpaced
most of Western Europe. In 2008, however, the global financial crisis hit the
economy particularly hard, due to the importance of its financial sector.
Sharply declining home prices, high consumer debt, and the global economic
slowdown compounded Britain's economic problems, pushing the economy into
recession in the latter half of 2008 and prompting the then BROWN (Labour)
government to implement a number of measures to stimulate the economy and
stabilize the financial markets; these include nationalizing parts of the
banking system, temporarily cutting taxes, suspending public sector borrowing
rules, and moving forward public spending on capital projects. Facing
burgeoning public deficits and debt levels, in 2010 the CAMERON-led coalition
government (between Conservatives and Liberal Democrats) initiated a five-year
austerity program, which aimed to lower London's budget deficit from over 10%
of GDP in 2010 to nearly 1% by 2015. In November 2011, Chancellor of the
Exchequer George OSBORNE announced additional austerity measures through 2017
because of slower-than-expected economic growth and the impact of the euro-zone
debt crisis. The CAMERON government raised the value added tax from 17.5% to
20% in 2011. It has pledged to reduce the corporation tax rate to 21% by 2014.
The Bank of England (BoE) implemented an asset purchase program of up to £375
billion (approximately $605 billion) as of December 2012. During times of
economic crisis, the BoE coordinates interest rate moves with the European
Central Bank, but Britain remains outside the European Economic and Monetary
Union (EMU). In 2012, weak consumer spending and subdued business investment
weighed on the economy. GDP fell 0.1%, and the budget deficit remained
stubbornly high at 7.7% of GDP. Public debt continued to increase.
|
Source : CIA |
Company
name & address
Noble Clean Fuels Ltd.
33 Cavendish
Square
London, W1G 0PW
United Kingdom
Tel: 020 7907 5887
Fax: 020 7491 2778
synthesis
Employees: 35
Company Type: Private
Subsidiary
Corporate Family: 24 Companies
Ultimate Parent: Noble Group Limited
Quoted Status: Non-quoted
Company
Incorporation
Date: 05-Feb-2009
Auditor: Ernst
& Young LLP
Financials in: USD (Millions)
Fiscal Year End: 31-Dec-2012
Reporting
Currency: US Dollar
Annual Sales:
5,948.5 1
Net Income:
(2.9)
Total Assets:
1,458.6
Business
Description
Distributors of Petroleum Products
Industry
Industry Miscellaneous
Wholesale
ANZSIC 2006:
3739 - Other Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4: 4690 - Non-specialized wholesale trade
NACE Rev 2: 4690 - Non-specialised wholesale trade
NAICS 2012: 423990 - Other Miscellaneous Durable Goods
Merchant Wholesalers
UK SIC 2007: 4690 - Non-specialised wholesale trade
US SIC 1987: 5099 - Durable Goods, Not Elsewhere
Classified
Key
Executives
|
Name |
Title |
|
Chee Ying Lim |
Secretary |
|
Wilhelmus Diederik De Blank |
Director |
|
Gareth Matthew Griffiths |
Director |
|
Robert Leslie Johnson |
Director |
|
Robert Jan Van Der Zalm |
Director |
Financial Summary
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1 - Profit &
Loss Item Exchange Rate: USD 1 = USD 1
2 - Balance Sheet
Item Exchange Rate: USD 1 = USD 1
Corporate
Overview
Location
33 Cavendish
Square
London, W1G 0PW
London County
United Kingdom
Tel: 020 7907 5887
Fax: 020 7491 2778
Sales USD(mil): 5,948.5
Assets USD(mil): 1,458.6
Employees: 35
Fiscal Year End: 31-Dec-2012
Industry: Miscellaneous Capital
Goods
Registered Address:
33 Cavendish
Square
London, W1G 0PW
United Kingdom
Incorporation
Date: 05-Feb-2009
Company Type: Private Subsidiary
Quoted Status: Not Quoted
Registered
No.(UK): 06810620
Director: Robert Leslie Johnson
Industry Codes
ANZSIC 2006
Codes:
3739 - Other
Goods Wholesaling Not Elsewhere Classified
ISIC Rev 4 Codes:
4690 - Non-specialized
wholesale trade
NACE Rev 2 Codes:
4690 - Non-specialised
wholesale trade
NAICS 2012 Codes:
423990 - Other
Miscellaneous Durable Goods Merchant Wholesalers
US SIC 1987:
5099 - Durable
Goods, Not Elsewhere Classified
UK SIC 2007:
4690 - Non-specialised
wholesale trade
Business Description
Energy
commodities.
More Business Descriptions
Distributors of Petroleum Products
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Corporate Family |
Corporate
Structure News: |
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Noble
Group Limited |
|
Noble Clean Fuels Ltd. |
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Company
Name |
Company
Type |
Location |
Country |
Industry |
Sales |
Employees |
|
|
Parent |
Hong Kong |
Hong Kong |
Metals and Minerals Wholesale |
94,045.1 |
15,000 |
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Subsidiary |
Sydney, NSW |
Australia |
Coal Mining |
1,462.1 |
2,680 |
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|
Acquisition by Yanzhou Coal Mining Co.
proposed/announced.See corporate
structure news on Noble
Group Limited for details |
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Subsidiary |
Paxton, NSW |
Australia |
Coal Mining |
36.2 |
314 |
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Subsidiary |
Brisbane , QLD |
Australia |
Coal Mining |
138.7 |
310 |
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Subsidiary |
Belfast |
United Kingdom |
Non-Metallic Minerals Mining |
0.0 |
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Subsidiary |
Singapore |
Singapore |
Grocery Wholesale |
4,960.0 |
250 |
|
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Subsidiary |
Qinzhou, Guangxi |
China |
Food Manufacturing |
260.6 |
240 |
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Subsidiary |
Nantong, Jiangsu |
China |
Food Manufacturing |
448.6 |
20 |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Professional Services |
50.2 |
154 |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Professional Services |
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Subsidiary |
Geneva |
Switzerland |
Commodities |
80,732.1 |
120 |
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Subsidiary |
Istanbul (Anatolia) |
Turkey |
Miscellaneous Wholesale |
|
28 |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Wholesale |
5,948.5 |
35 |
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Subsidiary |
Ciudad del Este, Alto Parana |
Paraguay |
Miscellaneous Wholesale |
|
26 |
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Subsidiary |
Suva |
Fiji |
Life and Health Insurance |
|
22 |
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Subsidiary |
Schiphol-Rijk |
Netherlands |
Machinery Wholesale |
|
10 |
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Subsidiary |
Istanbul (Anatolia) |
Turkey |
Chemical Wholesale |
|
17 |
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Subsidiary |
Dublin |
Ireland |
Commodities |
182.6 |
2 |
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Subsidiary |
Wanchai |
Hong Kong |
Metals and Minerals Wholesale |
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Subsidiary |
London |
United Kingdom |
Miscellaneous Wholesale |
0.0 |
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Subsidiary |
Houston, TX |
United States |
Petroleum Wholesale |
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Subsidiary |
Buenos Aires |
Argentina |
Grocery Wholesale |
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Subsidiary |
Chongqing |
China |
Food Manufacturing |
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Subsidiary |
Wanchai |
Hong Kong |
Road Transportation Services |
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Executive report
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Board of
Directors |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Director |
Director/Board Member |
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Executives |
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Secretary |
Company Secretary |
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Directors
and Shareholders Report
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Main Office Address: |
Tel: 020 7907 5887 |
Annual Return Date: 05 Feb 2013 |
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Individual Directors |
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|
Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
07 Jun 1965 |
18Th Floor Massmutual Tower, 38 Gloucester Road, |
10 Jan 2011 |
NA |
Current:2 |
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Current |
10 Sep 1964 |
33 Cavendish Square, |
24 Oct 2013 |
NA |
Current:0 |
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Current |
18 Jul 1963 |
18Th Floor Massmutual Tower, 38 Gloucester Road, |
10 Dec 2009 |
NA |
Current:2 |
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Current |
01 Mar 1969 |
33 Cavendish Square, |
15 Oct 2012 |
NA |
Current:6 |
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Previous |
16 Apr 1966 |
Apartment 2906 Parkside Pacific Place, 88 Queensway, |
05 Feb 2009 |
09 Nov 2011 |
Current:0 |
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Previous |
10 Dec 1972 |
2 The Lychgate, Burbage, |
05 Feb 2009 |
17 Oct 2010 |
Current:2 |
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Previous |
21 May 1966 |
33 Cavendish Square, |
15 Oct 2012 |
08 May 2013 |
Current:1 |
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Previous |
04 Aug 1968 |
33 Cavendish Square, |
15 Oct 2012 |
24 Oct 2013 |
Current:1 |
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Previous |
25 Feb 1958 |
Flat 69 17/F Tower 12 Hong Kong Parkview, 88 Tai Tam Reservoir Road, |
05 Feb 2009 |
07 Feb 2011 |
Current:0 |
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Corporate Directors |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
|
Tlt Directors Limited |
Previous |
One Redcliff Street, |
05 Feb 2009 |
05 Feb 2009 |
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Individual Secretaries |
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Name |
Status |
DOB |
Filed Address |
Appointment Date |
Resignation Date |
Summary of Directorships |
|
|
Current |
NA |
18Th Floor Massmutual Tower, 38 Gloucester Road, |
23 Sep 2011 |
NA |
Current:1 |
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|
Previous |
NA |
Flat F 27Th Floor La Place De Victoria, 632 King's Road, |
05 Feb 2009 |
23 Sep 2011 |
Current:0 |
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Corporate Secretaries |
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Company Name |
Status |
Registered Address |
Appointment Date |
Resignation Date |
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Tlt Secretaries Limited |
Previous |
One Redcliff Street, |
05 Feb 2009 |
05 Feb 2009 |
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Individual Shareholders |
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Name |
Share Details |
Share Type |
# of Shares |
Share Price (GBP) |
Share Value (GBP) |
% of Total Shares |
||||
|
Noble Netherlands B.V. |
10000000 Redeemable USD 1.00 |
Redeemable |
10,000,000 |
0.64 |
6,353,441.98 |
88.89 |
||||
|
Noble Netherlands B.V. |
1250000 Ordinary USD 1.00 |
Ordinary |
1,250,000 |
0.64 |
794,180.25 |
11.11 |
||||
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Corporate Shareholders |
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|
There are no corporate shareholders for this company. |
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Annual
Profit & Loss
Financials in: USD (mil)
Except for share items (millions) and per share items (actual units)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
47 Weeks |
|
Filed Currency |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
|
|
|
|
|
|
|
Total Turnover |
5,948.5 |
5,789.3 |
5,289.9 |
902.2 |
|
Cost of Sales |
5,881.8 |
5,725.7 |
5,224.9 |
876.8 |
|
Gross Profit |
66.7 |
63.6 |
65.0 |
25.3 |
|
Other Expenses |
66.3 |
67.1 |
66.2 |
18.6 |
|
Operating Profit |
- |
-3.5 |
-1.2 |
6.7 |
|
Other Income |
0.0 |
0.0 |
0.0 |
0.0 |
|
Interest Paid |
2.3 |
0.8 |
0.0 |
0.0 |
|
Exceptional Income |
0.0 |
0.0 |
0.0 |
0.0 |
|
Discontinued Operations |
0.0 |
0.0 |
0.0 |
- |
|
Profit Before Taxes |
-1.9 |
-4.3 |
-1.2 |
6.7 |
|
Tax Payable / Credit |
1.0 |
-0.9 |
-0.3 |
1.9 |
|
Extraordinary Items/Debits |
0.0 |
0.0 |
0.0 |
0.0 |
|
Dividends |
- |
0.0 |
0.0 |
- |
|
Profit After Taxes |
-2.9 |
-3.4 |
-0.9 |
4.9 |
|
Audit Fees |
0.5 |
0.4 |
0.4 |
0.3 |
|
Non Audit Fees |
0.0 |
0.0 |
0.0 |
- |
|
Number of Employees |
35 |
39 |
36 |
7 |
|
Wages |
7.6 |
9.1 |
8.9 |
1.6 |
|
Social Security Costs |
1.1 |
1.2 |
1.0 |
0.2 |
|
Pensions |
- |
- |
- |
0.0 |
|
Other Pension Costs |
0.4 |
0.4 |
0.4 |
0.1 |
|
Employees Remuneration |
9.0 |
10.6 |
10.3 |
1.9 |
|
Directors Emoluments |
- |
- |
- |
0.0 |
|
Other Costs |
- |
- |
- |
0.0 |
|
Directors Remuneration |
- |
- |
- |
0.0 |
|
Highest Paid Director |
- |
- |
- |
0.0 |
Annual Balance Sheet
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Filed Currency |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
|
|
|
|
|
|
|
Land & Buildings |
0.0 |
0.0 |
0.0 |
0.0 |
|
Fixtures & Fittings |
0.0 |
0.0 |
0.0 |
0.0 |
|
Plant & Vehicles |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Tangible Fixed Assets |
0.0 |
0.0 |
0.0 |
0.0 |
|
Intangible Assets |
4.5 |
3.7 |
4.2 |
0.0 |
|
Investments |
135.2 |
75.8 |
8.4 |
0.3 |
|
Total Fixed Assets |
139.8 |
79.5 |
12.5 |
0.3 |
|
Total Stocks Work In Progress |
304.0 |
122.6 |
301.4 |
666.6 |
|
Trade Debtors |
516.3 |
462.9 |
123.0 |
193.0 |
|
Inter-Company Debtors |
146.2 |
65.2 |
98.7 |
82.5 |
|
Director Loans |
- |
0.0 |
0.0 |
0.0 |
|
Other Debtors |
9.7 |
5.4 |
12.3 |
0.2 |
|
Total Debtors |
672.2 |
533.6 |
234.0 |
275.7 |
|
Cash and Equivalents |
9.4 |
11.9 |
21.5 |
13.0 |
|
Other Current Assets |
333.3 |
529.6 |
101.3 |
38.0 |
|
Total Current Assets |
1,318.8 |
1,197.7 |
658.2 |
993.3 |
|
Total Assets |
1,458.6 |
1,277.2 |
670.7 |
993.6 |
|
Trade Creditors |
700.1 |
559.8 |
257.0 |
362.7 |
|
Bank Overdraft |
- |
0.0 |
0.0 |
0.0 |
|
Inter-Company Creditors |
171.3 |
129.5 |
224.6 |
591.8 |
|
Director Loans (Current Liability) |
- |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Current Liability) |
- |
0.0 |
0.0 |
0.0 |
|
Finance Lease (Current Liability) |
- |
0.0 |
0.0 |
0.0 |
|
Total Finance Lease/Hire Purchase (Current Liability) |
- |
0.0 |
0.0 |
0.0 |
|
Total Short Term Loans |
- |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Current Liability) |
68.8 |
11.2 |
12.2 |
- |
|
Social Security/VAT |
15.2 |
3.4 |
0.3 |
- |
|
Corporation Tax |
0.0 |
- |
- |
1.9 |
|
Other Current Liabilities |
438.8 |
527.0 |
157.0 |
29.4 |
|
Total Current Liabilities |
1,394.3 |
1,230.9 |
651.1 |
985.8 |
|
Group Loans (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Director Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
|
Hire Purchase (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
|
Leasing (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
|
Total Hire Purchase Loans (Long Term Liability) |
- |
0.0 |
0.0 |
0.0 |
|
Other Long Term Loans |
- |
0.0 |
0.0 |
0.0 |
|
Accruals/Deferred Income (Long Term Liability) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Long Term Liabilities |
55.0 |
34.0 |
3.8 |
2.9 |
|
Total Long Term Liabilities |
55.0 |
34.0 |
3.8 |
2.9 |
|
Deferred Taxation |
0.0 |
0.0 |
0.0 |
0.0 |
|
Other Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Provisions |
0.0 |
0.0 |
0.0 |
0.0 |
|
Issued Capital |
11.9 |
11.9 |
11.9 |
0.1 |
|
Share Premium Accounts |
0.0 |
0.0 |
0.0 |
0.0 |
|
Revaluation Reserve |
-0.2 |
0.0 |
0.0 |
0.0 |
|
Retained Earnings |
-2.4 |
0.5 |
3.9 |
4.9 |
|
Other Reserves |
0.0 |
0.0 |
0.0 |
0.0 |
|
Minority Interests (Balance Sheet) |
0.0 |
0.0 |
0.0 |
0.0 |
|
Total Shareholders Funds |
9.3 |
12.4 |
15.8 |
4.9 |
|
Net Worth |
4.8 |
8.7 |
11.6 |
4.9 |
Annual Cash Flows
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
47 Weeks |
|
Filed Currency |
USD |
USD |
USD |
USD |
|
Exchange Rate
(Period Average) |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
|
|
|
|
|
|
Annual Ratios
Financials in: USD (mil)
|
|
31-Dec-2012 |
31-Dec-2011 |
31-Dec-2010 |
31-Dec-2009 |
|
Period Length |
52 Weeks |
52 Weeks |
52 Weeks |
47 Weeks |
|
Filed Currency |
USD |
USD |
USD |
USD |
|
Exchange Rate |
1 |
1 |
1 |
1 |
|
Consolidated |
No |
No |
No |
No |
|
|
|
|
|
|
|
Current Ratio |
0.95 |
0.97 |
1.01 |
1.01 |
|
Liquidity Ratio |
0.73 |
0.87 |
0.55 |
0.33 |
|
Stock Turnover |
1,957.00 |
4,720.00 |
1,755.00 |
150.00 |
|
Credit Period (Days) |
3,168.00 |
2,919.00 |
848.00 |
7,059.00 |
|
Working Capital by Sales |
-127.00% |
-57.00% |
13.00% |
75.00% |
|
Trade Credit by Debtors |
136.00 |
121.00 |
209.00 |
188.00 |
|
Return on Capital |
-291.00% |
-934.00% |
-610.00% |
9,551.00% |
|
Return on Assets |
-13.00% |
-34.00% |
-18.00% |
75.00% |
|
Profit Margin |
-3.00% |
-7.00% |
-2.00% |
75.00% |
|
Return on Shareholders Funds |
-2,004.00% |
-3,501.00% |
-758.00% |
15,142.00% |
|
Borrowing Ratio |
355,057.00% |
149,287.00% |
193,260.00% |
1,201,181.00% |
|
Equity Gearing |
64.00% |
97.00% |
236.00% |
50.00% |
|
Interest Coverage |
-81.00 |
-539.00 |
-13,300.00 |
- |
|
Average Remuneration per Employee |
0.3 |
0.3 |
0.3 |
0.3 |
|
Profit per Employee |
-0.1 |
-0.1 |
0.0 |
1.1 |
|
Sales per Employee |
170.0 |
148.4 |
146.9 |
142.6 |
|
Capital Employed per Employee |
1.8 |
1.2 |
0.5 |
1.1 |
|
Total Assets per Employee |
41.7 |
32.7 |
18.6 |
141.9 |
|
Employee Remuneration by Sales |
15.00% |
18.00% |
20.00% |
21.00% |
|
Creditor Days (Cost of Sales Based) |
4,345.00 |
3,569.00 |
1,795.00 |
13,650.00 |
|
Creditor Days (Sales Based) |
4,296.00 |
3,529.00 |
1,773.00 |
13,266.00 |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.69 |
|
UK Pound |
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.84.07 |
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.