|
Report Date : |
03.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
AVERY DENNISON MATERIALS PTY LTD |
|
|
|
|
Registered Office : |
1104-1124 Centre Road, Oakleigh
South, Victoria 3167 |
|
|
|
|
Country : |
Australia |
|
|
|
|
Financials (as on) : |
31.12.2011 |
|
|
|
|
Date of Incorporation : |
22.07.1970 |
|
|
|
|
Com. Reg. No.: |
007706934 |
|
|
|
|
Legal Form : |
Australian Proprietary Company |
|
|
|
|
Line of Business : |
Manufacturing & sales of adhesive labels. |
|
|
|
|
No. of Employees : |
400 employees (Subject) |
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) |
|
Australia |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Australia - ECONOMIC OVERVIEW
Australia's abundant and diverse natural resources attract high levels of foreign investment and include extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. Australia also has a large services sector and is a significant exporter of natural resources, energy, and food. Key tenets of Australia''s trade policy include support for open trade and the successful culmination of the Doha Round of multilateral trade negotiations, particularly for agriculture and services. The Australian economy grew for 17 consecutive years before the global financial crisis. Subsequently, the former RUDD government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the Australian economy rebound after just one quarter of negative growth. The economy grew by 1.4% during 2009 - the best performance in the OECD - by 2.7% in 2010, and by 1.8% in 2011. Unemployment, originally expected to reach 8-10%, peaked at 5.7% in late 2009 and fell to 5.0% in 2011. As a result of an improved economy, the budget deficit is expected to peak below 4.2% of GDP and the government could return to budget surpluses as early as 2015. Australia was one of the first advanced economies to raise interest rates, with seven rate hikes between October 2009 and November 2010. The GILLARD government is focused on raising Australia''s economic productivity to ensure the sustainability of growth, and continues to manage the symbiotic, but sometimes tense, economic relationship with China. Australia is engaged in the Trans-Pacific Partnership talks and ongoing free trade agreement negotiations with China, Japan, and Korea.
|
Source : CIA |
Verified Address
Subject name :
AVERY DENNISON MATERIALS PTY LTD
Business address :
1104-1124 Centre Road
Town :
Oakleigh South
Province :
Victoria
Zip/postal code :
3167
Country :
Australia
Tel :
+61 3 92710300
Fax :
+61 3 92710301
Website :
www.fasson.com.au
Registered address :
C/o NORTON ROSE AUSTRALIA
Level 18, Grosvenor Place
225 George Street
Town :
Sydney
Province :
New South Wales
Zip/postal code :
2000
Country :
Australia
Comments :
The provided address 16 Hewittson Road
Elizabeth West, SA 5113, Australia belongs to
the Subject's production facilities.
Executive Summary
Date founded or registered :
22/07/1970
Legal form :
Australian Proprietary Company
Chief executive :
David Roland Martin
Issued & paid up capital : AUD 9,000,000
Sales turnover :
USD 6,026,300,000 (Group-consolidated 12 months, 31/12/2011)
Net income :
USD 190,100,000 (Group-consolidated 12 months, 31/12/2011)
Total fixed assets :
USD 4,972,700,000 (Group-consolidated 12 months, 31/12/2011)
Line of business :
Manufacturing & sales of adhesive labels.
Staff employed :
400 employees (Subject); 30,400 employees (Avery Dennison Group)
Company Analysis
Country risk :
Country risk is minimal
Operation trend : Operational trend is
progressing
Management experience :
Management is adequately experienced
Financial performance :
Financial performance is good
Organization structure :
Organizational structure is stable
Detrimental :
No detrimental found
Payment history :
No payment delays noted
Credit amount asked :
Not described.
Comments
: Larger
credit can still be considered. The Subject is well positioned in the marketand the financial stability of the group is positive.
Registry Data
Registration date :
22/07/1970
Legal form :
Australian Proprietary Company
Registration no Australian Company Number : 007706934
Registered authority :
Australian Securities and Investments Commissions
Fiscal/ Tax no :
Australian Business Number: 92007706934
Registry status :
Live/Active
Previous name :
FASSON PTY. LIMITED (initial)
Change of legal form :
None reported.
Key Management
Name :
David Roland Martin
Designation :
Managing Director
Name :
Ian David Brown
Designation :
Financial Director
Appointments
Name :
Karyn Elizabeth Rodriguez
Designation :
Director
Appointment date :
21/08/01
Address :
750 Hastings Ranch Drive
Pasadena, CA 91107
United States
Biography :
Born on 31-08-1959 in New York, United States.
Ms. Karyn E. Rodriguez is Vice President and
Treasurer of Avery Dennison
Corporation. Previously she has been Assistant Treasurer,Corporate
Finance and Investments from 1999-2001.
Name :
David Roland Martin
Designation :
Director
Appointment date :
01/01/06
Address :
1 Carrington Grove
Brighton East, VIC 3187
Australia
Biography :
Born on 18-06-1964 in Adelaide, South Australia, Australia.
Name :
Ian David Brown
Designation :
Director
Appointment date :
15/12/08
Address :
276 Galston Road
Galston, NSW
2159
Australia
Biography : Born on 24-09-1964 in
Boxford, United Kingdom.
Name :
Georges Gravanis
Designation :
Director
Appointment date :
01/08/10
Address :
Flat B, 1/F, 127 Repulse Bay Road
Repulse Bay
Hong Kong
Biography :
Born on 01-01-1958 in Le Piree, France.
Name :
Vikas Arora
Designation :
Director
Appointment date :
30/06/10
Address :
3905 Alta Mesa Drive
Studio City, CA 91604
United States
Biography :
Born on 14/10/1973 in Michigan, United States.
Staff employed :
400 employees (Subject); 30,400 employees (Avery Dennison Group)
Key Advisors
Auditors :
COOPERS & LYBRAND
91 King William Street
Adelaide, SA 5000
Australia
Composition
Authorized Capital :
AUD 9,000,000
No of shares :
9,000,000 Ordinary Shares
Share par value :
AUD 1
Issued capital :
AUD 9,000,000
Paid up capital :
AUD 9,000,000
OWNERSHIP / SHAREHOLDERS
How listed
: Full List
Composition
Shareholder name :
AVERY DENNISON AUSTRALIA GROUP HOLDINGS PTY LIMITED
Address :
C/o NORTON ROSE AUSTRALIA
Level 18, Grosvenor
Place
225 George Street
Sydney, NSW 2000
Australia
No. of shares :
9,000,000 Ordinary Shares
% of shares :
100%
Structure
Name :
AVERY DENNISON CORPORATION
Affiliation type :
Ultimate Holding Company
Address :
Miller Corporate Center
150 North Orange Grove Boulevard
Pasadena, CA 91103
United States
Comments :
Avery Dennison Corporation engages in the manufacture and sale of
pressure-sensitive materials;
office and consumer products; and various tickets, tags, labels, and other
converted products worldwide. Its Pressure-sensitive Materials segment offers
papers, plastic films, metal foils, and fabrics to label printers and
converters; and performance polymer products, including solvent and
emulsion-based acrylic polymer adhesives, protective coatings, and other
polymer additives. This segment also provides graphic products consist of films
and other products to architectural, commercial sign, and digital printing
markets; durable cast and reflective films to construction, automotive, and
fleet transportation markets; scrim-reinforced vinyl materials for banner sign
applications; and reflective films for traffic and safety applications, as well
as films for weather-resistant applications. The company’s Retail Information
Services segment offers brand identification products, including woven and
printed labels, graphic tags, and barcode tags; information management
products, such as price tickets, carton labels, and RFID tags; and
solution-enabling products, which include printer s, fastening and application
devices, and security management products to retailers, apparel manufacturers,
distributors, and industrial customers. Its Office and Consumer Products
segment provides printable media products, such as copier, ink-jet, and laser
printer labels and related computer software, as well as ink-jet and laser
printer card and index products; organization, filing, and presentation
products consisting of binders, dividers, and sheet protectors; and stationery
products, including writing instruments, markers, and adhesives for office,
school, and home uses. The company was formerly known as Avery International
Corporation and changed its name to Avery Dennison Corporation in 1990. Avery
Dennison Corporation was founded in 1935 and is headquartered in Pasadena,
California.
Name :
AVERY DENNISON AUSTRALIA GROUP HOLDINGS PTY LIMITED
Affiliation type :
Parent Company
Address :
C/o NORTON ROSE AUSTRALIA
Level 18, Grosvenor
Place
225 George Street
Sydney, NSW 2000
Australia
Name :
AVERY DENNISON MATERIALS SDN BHD
Affiliation type :
Sister Company
Address :
Lot 6 Jalan P/2 Kawasan Perusahaan Bangi
43650 Bandar Baru
Bangi
Selangor Darul Ehsan
Malaysia
Name :
AVERY DENNISON OFFICE PRODUCTS PTY LIMITED
Affiliation type :
Sister Company
Address :
11 Carrington Road
Castle Hill, NSW 2154
Australia
Name :
AVERY DENNISON MATERIALS NEDERLAND B.V.
Affiliation type :
Sister Company
Address :
Rijndijk 86
2394AJ Hazerswoude-Rijndijk
Netherlands
Name :
AVERY DENNISON MATERIALS NEW ZEALAND LIMITED
Affiliation type :
Sister Company
Address :
40 Vestey Drive
Westfield, Auckland 1060
New Zealand
Name :
AVERY DENNISON (INDIA) PRIVATE LIMITED
Affiliation type :
Sister Company
Address :
Narsinghpur Industrial Area
Six Kilometre Stone, Delhi - Jaipur
Highway
District Gurgaon
- 122001
Haryana
India
Name :
AVERY DENNISON SINGAPORE (PTE) LTD
Affiliation type :
Sister Company
Address :
151 Pasir Panjang Road
Pasir Panjang Distripark #03–13
Singapore 118480
Singapore
Name :
AVERY DENNISON MATERIALS GMBH
Affiliation type :
Sister Company
Address :
Bembergstraße 1
D-42103 Wuppertal
Germany
Name :
AVERY DENNISON (THAILAND) LTD.
Affiliation type :
Sister Company
Address :
49/51-54 Kingkaew Road, Moo 12
Tambol Rajathewa
Bangplee
District, Samutprakam Province
Thailand
Related
companies and corporate affiliations comments :
Other companies of the Avery Dennison Group should be considered affiliates ofthe
Subject.
Bank Details
Name of bank :
Westpac Banking Corporation
Address : Australia
Account details :
Current Account
Name of bank :
National Australia Bank Limited
Address :
Australia
Account details :
Current Account
Comments
: It is generally not
the policy of local banks to provide credit status information to non related
parties, however interested parties would be advised to consult first with the
Subject if banker's references are required.
Mortgages : None reported.
Legal Fillings
Bankruptcy fillings :
None reported.
Court judgements : None reported.
Tax liens :
None reported.
Others :
None reported.
Description
Source of financial statement : Public Record Sources
Financial statement date
: 31/12/11
Type of accounts :
Full audited
Currency :
US Dollar (USD)
Consolidation type : Group Consolidated Group Consolidated
Currency
: US Dollar (USD) US Dollar (USD)
Denomination :
(x1) One (x1) One
Date of financial year end :
31/12/11 31/12/10
Length of accounts :
12 months 12 months
Sale turnover / Income :
6,026,300,000 5,782,000,000
Gross profit :
1,521,400,000 1,513,800,000
Profit before tax :
232,900,000 239,000,000
Net income :
190,100,000 316,900,000
Non current assets :
2,753,900,000 3,147,500,000
Current assets :
2,218,800,000 1,951,900,000
Inventories :
475,100,000 519,900,000
Total assets :
4,972,700,000 5,099,400,000
Current liabilities :
1,647,100,000 1,831,800,000
Non current liabilities :
1,667,100,000 1,621,900,000
Total liabilities :
3,314,200,000 3,453,700,000
Share equity :
1,658,500,000 1,645,700,000
Retained earning :
1,810,500,000 1,727,900,000
Comments
:
The group’s consolidated financial information above relates to the Subject’s
Ultimate Holding Company Avery Dennison Corporation and all its subsidiaries
which include the Subject.
Main activities :
The Subject is engaged in manufacturing of adhesive labels used on
packaging and other items.
The Subject
develops pressure-sensitive adhesives and self- adhesive
base materials. Its products
include pressure-sensitive and non-adhesive coated papers, films and foils.
The Subject is ultimately owned
by Avery Dennison Corporation. Avery Dennison Corporation is a global
manufacturer and distributor of pressure-sensitive adhesive materials (such as
self-adhesive labels). The company is headquartered in Pasadena, California.
Avery Dennison Corporation is a
Fortune 500 company with revenue around USD 6 billion in 2010. Their pivotal
lines of products are found in its Pressure-Sensitive Materials segment,
responsible for 54 percent of sales.
The company employs 36,000
people worldwide, with manufacturing and distribution facilities in over 60
countries.
The company operates through 4
segments:
The Pressure-Sensitive Materials
segment manufactures and sells pressure-sensitive roll-label materials, films
for graphic applications, reflective highway-safety products, performance
polymers, and extruded films.
The Office and Consumer Products
segment manufactures and sells various office and consumer products, including
labels, binders, dividers, sheet protectors, and writing instruments. It was
announced January 3, 2012, that this division was being purchased by 3M for
$550 million.
The Retail Information Services
segment designs, manufactures, and sells various price-marking and
brand-identification products, including tickets, graphic and barcode tags and
labels, woven and printed labels, and related supplies and equipment.
Other Specialty Products segment
provides automotive and industrial products, radio-frequency identification
(RFID) tags and inserts, specialty tape, security printing and performance
films.
Product & services : -
Pressure-sensitive and non-adhesive coated papers, films and foils
- Self
adhesive base materials
Brand :
Avery Dennison
Fasson
Purchases
Local :
Yes
International :
Worldwide
Sales
Local :
Yes
International :
Worldwide
Key events :
Avery Dennison Corp Increases Quarterly Dividend
Tuesday,
31 Jan 2012
Avery Dennison Corp announced
that the Board of Directors has increased its quarterly dividend. The Board
declared a quarterly dividend of $0.27 per share, reflecting a $0.02, or 8%,
increase over the previous quarterly dividend. The dividend is payable March
21, 2012 to shareholders of record on March 7, 2012.
3M Company To Acquire Office And
Consumer Products Business Of
Avery Dennison Corp.
Tuesday, 3 Jan 2012
3M Company announced that it has
entered into a definitive agreement to acquire the Office and Consumer Products
business (OCP) of Avery Dennison Corp. for a total purchase price of $550
million in cash, subject to
post-closing adjustments. The
Office and Consumer Products business of Avery Dennison is the suppliers of
office and education products, including labels, binders, presentation
products, filing and indexing products, writing instruments, and other office
and home organization products. The transaction is expected to be completed in
the second half of 2012, subject to customary closing conditions including any
necessary regulatory
approvals.
Avery Dennison Corp. Teams With Plaxo, Inc
Friday, 18 Nov 2011
Avery Dennison Corp. announced
that Plaxo, Inc., creators of an easy-to-use online
address book, announced it has teamed with the Office and Consumer Products
Group of Avery Dennison, to offer the convenience of creating contact mailing
labels quickly and easily. Plaxo has leveraged the
Avery Design & Print Online program to offer Plaxo
address book users the added value of printing out labels from their Plaxo personal and business contacts. Whether it is for
personal use such as holiday cards, or business use such as shipping labels,
the two companies have streamlined the mailing label process. Plaxo's address book data (business and/or home addresses)
is seamlessly integrated into the Avery Design & Print Online system and
generates labels to a ready-to-print PDF.
Avery Dennison Corp. Declares
Quarterly Dividend
Thursday, 27 Oct 2011
Avery Dennison Corp. announced
that the Board of Directors of Avery Dennison Corporation declared a quarterly
cash dividend of $0.25 per share. The dividend is payable on December 21, 2011
to all shareholders of record at the close of business on December 7, 2011.
Avery Dennison Corp. Lowers FY
2011 EPS Guidance
Wednesday, 26 Oct 2011
Avery Dennison Corp. announced
that for fiscal 2011, it expects adjusted earnings per share (EPS) in the range
of $2.15 and $2.30. According to I/B/E/S Estimates, analysts on an average were
expecting the Company to report EPS of $2.52 for fiscal 2011.
Martha Stewart Living Omnimedia Announces Partnership With Avery Dennison Corp.
Thursday, 22 Sep 2011
Martha Stewart Living Omnimedia and Avery Dennison Corp. announced they have teamed
together to create the Martha Stewart Home Office with Avery product line.
Avery Dennison Corp. Declares
Quarterly Dividend
Wednesday, 27 Jul 2011
Avery Dennison Corp. announced that
it has declared a quarterly cash dividend of $0.25 per share. The dividend is
payable September 21, 2011, to shareholders of record as of the close of
business on September 7,2011.
Avery Dennison Corp. Lowers FY
2011 EPS Guidance
Tuesday, 26 Jul 2011
Avery Dennison Corp. announced
that for fiscal 2011, it expects adjusted earnings per share (EPS) in the range
of $2.45 and $2.75. According to I/B/E/S Estimates, analysts on an average were
expecting the Company to report EPS of $3.85 for fiscal 2011.
Avery Dennison Corp.'s Avery
Dennison Medical Solutions And Proteus Biomedical Launch Partnership
Tuesday, 7 Jun 2011
Avery Dennison Corp.'s Avery
Dennison Medical Solutions and Proteus Biomedical, Inc. announced a partnership
focusing on patch-based wearable sensors for consumer, home health care and
remote medical applications. Financial terms were not disclosed. Proteus has
developed a U.S. FDA 510K cleared and European Union CE Mark-certified personal
monitoring device for continuous physiologic sensing and monitoring.
Proteus and Avery Dennison
Medical Solutions have joined forces to reduce cost, enhance wearability and commercialize this advanced platform.
Proteus’ personal monitoring technology incorporates multiple sensors to
monitor important physiologic parameters of interest to consumers and
clinicians, including heart rate, physical activity and sleep patterns. Avery
Dennison Medical Solutions is providing adhesive and material technologies and
developing the manufacturing platform to mass produce the wearable sensors for
the companies’ respective customers.
Avery Dennison Corp. Declares
Quarterly Dividend
Thursday, 28 Apr 2011
Avery Dennison Corp. announced
that it has declared a quarterly cash dividend of $0.25 per share. The dividend
is payable June 15, 2011, to shareholders of record at the close of business on
June 1, 2011.
Property &
Assets
Premises
: The
Subject operates from head office located at the verified heading address
consisting of a production facilities, warehouse and administrative office.
Branches :
In addition, the Subject operates from branch offices and production facility
located at:
Production facility:
16 Hewittson
Road
page 15 / 19
Elizabeth West, SA 5113
Australia
Tel: +61 8 82093201
Qld
Distribution Centre
1/67 Colebard
St W
Acacia Ridge QLD 4110
Australia
Tel: +61 7 37151700
New South Wales Distribution
Centre
Unit D, 21 Loyalty Road
North Rocks, NSW 2151
Australia
Tel: +61 2 8839 8100
Western Australia Distribution
Center
2 Pavers Circle
Malaga, WA 6090
Australia
Tel: +61 8 9209 6400
Gross Domestic
Products (GDP) & Economic Overview
Central bank :
Reserve Bank of Australia
Reserve of foreign exchange & gold : US$ 43.879 billion
Gross domestic product - GDP : US$ 1.586 trillion
GPP (Purchasing power parity) : 954.296 billion of International dollars
GDP per capita - current prices : US$ 68,916
GDP - composition by sector :
agriculture: 4%
industry: 25.6%
services: 70.4%
Inflation :
2009: 1.8%
2010: 2.8%
2011: 3.4%
Unemployment rate :
2009: 5.6%
2010:
5.2%
2011:
5.1%
Public debt
(General Government gross debt as
a % GDP) :
2009: 16.9%
2010: 20.4%
2011: 22.9%
Government bond ratings :
Standard & Poor's: AAA/Stable/A-1+
Moody's rating: Aaa
Moody's outlook: STA
Market value of publicly traded
Shares :
US$1.258 trillion
Largest
companies in the country :
Commonwealth Bank (Banking), BHP Billiton
(Materials), Westpac Banking Group (Banking), Rio Tinto
(Materials), National Australia Bank (Banking), ANZ Banking (Banking), Telstra
(Telecommunications)
Trade &
Competitiveness Overview
Total exports :
US$210.7 billion
Exports commodities :
Coal, iron ore, gold, meat, wool, alumina, wheat
Total imports :
US$187.2 billion
Imports
commodities : Machinery
and transport equipment, computers and office machines, telecommunication
equipment and parts, crude oil and petroleum products Export - major partners :
Japan 18.9%, China 14.2%, South Korea 8%, US 6%, NZ 5.6%, India 5.5%, UK 4.2%
Import
- major partners : China
15.5%, US 12.8%, Japan 9.6%, Singapore 5.6%, Germany 5.2%, UK 4.3%, Thailand
4.2%
FDI Inflows :
2008: US$46,843 million
2009: US$25,716 million
2010: US$32,472 million
FDI Outflows :
2008: US$33,604 million
2009: US$16,160 million
2010: US$26,431 million
Best countries for doing business : 10 out of 183 countries
Global competitiveness ranking : 20 (ranking by country on a basis of 142, the first is the best)
Country and
Population Overview
Total population :
22.23 million
Total area : 7,692,024 km2
Capital :
Canberra
Currency :
Australian dollars (AUD)
Internet users as % of total
Population :
76%
Purchase Term
Local :
Prepayment, Cash against document, Credit up to 120 days
International :
L/C, Cash against document, Credit up to 120 days
Sales Term
Local :
Prepayment, Cash against document, Credit up to 120 days
International :
L/C, Cash against document, Credit up to 120 days
Trade Reference/
Payment
Behaviour
Comments :
As local and international trade references were not supplied, the Subject's
payment
track record history cannot be appropriately determined but based
on our
research, payments are believed to be met without delay.
Investigation Note
Sources :
Interviews and material provided by the Subject
:
Other official and local business sources
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.88.76 |
|
Euro |
1 |
Rs.72.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.