MIRA INFORM REPORT

 

 

Report Date :

22.01.2013

 

IDENTIFICATION DETAILS

 

Name :

SUN ACE KAKOH (PTE.) LTD.

 

 

 

 

Registered Office :

34 Tanjong Penjuru Singapore 609030

 

 

 

 

Country :

Singapore

 

 

 

 

Financials (as on) :

31.12.2011

 

 

 

 

Date of Incorporation :

15.01.1980

 

 

 

 

Com. Reg. No.:

198000159N

 

 

 

 

Legal Form :

Limited Private Company

 

 

 

 

Line of Business :

Other Manufacturing Industries

 

 

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Good

Payment Behaviour :

Regular

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

(31.03.2011)

Current Rating

(30.06.2012)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. Real GDP growth averaged 8.6% between 2004 and 2007. The economy contracted 1.0% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010 and 4.9% in 2011, on the strength of renewed exports. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to a compound annual growth rate of just 1.8% in the last decade. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

Source : CIA

 

Company Name:

Registered Number:

SUN ACE KAKOH (PTE.) LTD.

198000159N

 

Date Incorporated:

Registered Office:

Telephone Number:

15/01/1980

34 TANJONG PENJURU SINGAPORE 609030

6264 0255

Age of Company:

Website:

Industry Type:

32

www.sunace.com.sg

MANUFACTURING

 

 

 

Risk Dashboard

 

Days Beyond Terms

Trend:

No. of Litigation Counts:

 

Company DTC:

1

 

11

 

Better than last month;last month the entity took 4 days to pay

No. of Charges(s):
13

 

Industry DTC

 

26

 

Directors

 

Corporate Structure

Number of Current Directors

5

Holding Company:

SUN ACE CORPORATION

Number that are shareholders

3

No. of Subsidiaries & Associated Companies:

1

 

EXECUTIVE SUMMARY

 

Company Name

:

SUN ACE KAKOH (PTE.) LTD.

Registration No

:

198000159N

Date of Registration

:

15/01/1980

Former Name

:

NA

Date of Change of Name

:

NA

Type of Company

:

LIMITED PRIVATE COMPANY

Registered Address

:

34 TANJONG PENJURU SINGAPORE 609030

Date of Change of Address

:

NA

Contact No.

:

6264 0255

Fax No.

:

6265 7038

Website

:

www.sunace.com.sg

Registered Activities

:

OTHER MANUFACTURING INDUSTRIES NEC

Issued Ordinary Capital*

:

$5,000,000.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 5,000,000

Issued Preference Capital

:

NA

Paid-Up Ordinary Capital

:

$5,000,000.00 SINGAPORE, DOLLARS

Paid-Up Preference Capital

:

NA

* Number of Shares includes number of Issued Treasury Shares

Issued Treasury Capital

:

NA

Paid-Up Treasury Capital

:

NA

No. of Local Subsidiaries

:

1

No. of Local Associates

:

NA

Auditor

:

FOO KON TAN GRANT THORNTON LLP

Bankers / Financiers

:

DBS BANK LTD.

MALAYAN BANKING BERHAD

THE DEVELOPMENT BANK OF SINGAPORE LIMITED

Turnover

:

SGD - SIN 130,909,312.00 (FY2011)

Net Worth

:

SGD - SIN 69,984,664.00 (FY2011)

No. of Bank Charges

:

13

No. of Litigation Suits

:

1

S1000 / SME 1000 / FG50 Ranking

:

1543 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011)

1543 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010)

1313 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)

1131 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2007/2008)

1119 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2007/2008)

Compounded Annual Growth Rate (CAGR)

:

3.03% (4 years)

 

 

SHAREHOLDER DETAILS

 

NAME

:

SUN ACE CORPORATION

SHAREHOLDER ID

:

S80UF0196B

NATIONALITY

:

NA

ADDRESS

:

4058 NAKATSU AIKAWA-MACHI AIKO-GUN, KANAGAWA-KEN, 243-0303 JAPAN

NO. OF ORD SHARES

:

2,700,000

% OF SHAREHOLDING

:

54%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

REAGENS S.P.A.

SHAREHOLDER ID

:

S80UF0244J

NATIONALITY

:

ITALY

ADDRESS

:

40016 SAN GIORGIO DI PIANO BOLOGNA ITALY, VIA CODRONICHI, 4

NO. OF ORD SHARES

:

1,300,000

% OF SHAREHOLDING

:

26%

CURRENCY

:

SINGAPORE, DOLLARS

 

NAME

:

MITSUBISHI CORPORATION

SHAREHOLDER ID

:

S89UF0240D

NATIONALITY

:

NA

ADDRESS

:

3-1, MARUNOUCHI 2-CHOME CHIYODA-KU, TOKYO, 100-8086, JAPAN

NO. OF ORD SHARES

:

1,000,000

% OF SHAREHOLDING

:

20%

CURRENCY

:

SINGAPORE, DOLLARS

 

 

 

OFFICER DETAILS

 

NAME

:

NANNI ETTORE

ADDRESS

:

7 VIA BELLINZONA 40100 BOLOGNA ITALY

POSITION

:

DIRECTOR

DATE OF APPT

:

12/02/1996

NATIONALITY

:

ITALIAN

I/C PASSPORT

:

609107A

 

NAME

:

RYO SASAKI

ADDRESS

:

34 TANJONG PENJURU SINGAPORE 609030

POSITION

:

DIRECTOR

DATE OF APPT

:

11/05/1990

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

F1147667T

 

NAME

:

KAN MUN LEONG EDDIE

ADDRESS

:

24 JALAN ARNAP KIM LIN PARK SINGAPORE 249330

POSITION

:

DIRECTOR

DATE OF APPT

:

02/12/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S0341298I

 

NAME

:

FOO SOON SOO

ADDRESS

:

4 MIMOSA VALE MIMOSA VALE SINGAPORE 807927

POSITION

:

SECRETARY

DATE OF APPT

:

21/02/2005

NATIONALITY

:

SINGAPORE CITIZEN

I/C PASSPORT

:

S1310912E

 

NAME

:

KOJI YOSHIDA

ADDRESS

:

203 GRANDY HASE,HASE, ATSUGI-SHI,KANAGAWA-KEN 243-0036 JAPAN

POSITION

:

DIRECTOR

DATE OF APPT

:

01/03/2001

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TE4384493

 

NAME

:

YASUMASA KONDO

ADDRESS

:

7-31, SHINOHARAKITA 1-CHOME, KOHOKU-KU, YOKOHAMA-CITY, KANAGAWA, JAPAN, 2220021

POSITION

:

DIRECTOR

DATE OF APPT

:

01/01/2011

NATIONALITY

:

JAPANESE

I/C PASSPORT

:

TK0823648

 

 

 

 

KEY PERSONNEL PROFILE

 

Name:

RYO SASAKI

NRIC Number:

F1147667T

Available Address:

34 TANJONG PENJURU  SINGAPORE 609030

 

 

Current Business Interest

 

No.

Name

Position

Appt Date

#of Share

%

1

SUN ACE INVESTMENT PTE. LTD.

DIRECTOR

22/11/2005

-

-

2

SUN ACE KAKOH (PTE.) LTD.

DIRECTOR

11/05/1990

-

-

3

SUN ACE KAKOH (PTE.) LTD.

MANAGING DIRECTOR

01/11/1991

-

-

 

 

Previous Business

 

No.

Name

 

 

Status

Position

Appt Date

Last Known Inactive Date

No Trace

 

 

 

 

 

 

Bankruptcy Record

 

 

Case No.

Year

Date of Filing

Petitioner Name

Amount

No Trace

 

 

 

 

 

 

Litigation Search – Writ of Summons

 

Court

Case No.

Transfer

Year

Date of Filing

Amount

Cause Category

No Trace

 

 

 

 

 

 

 

 

SUBSIDIARIES AND ASSOCIATE COMPANIES

 

Company

Shareholdings (%)

 

SUN ACE INVESTMENT PTE. LTD.

100

                                                                                                                       

 

 

 

 

 

BANKERS/ FINANCIERS

 

Subject enjoys a normal banking routine with its bankers. To date, there have been 13 bank charges registered against Subject by its bankers. The charge numbers are:

 

1)

Charge No.

:

C201004668

 

Date of Registration

:

07/06/2010

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

5,000,000.00 SINGAPORE, DOLLARS

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

2)

Charge No.

:

C201002573

 

Date of Registration

:

26/03/2010

 

Chargee

:

DBS BANK LTD.

 

Amount Secured  and Currency

:

5,000,000.00 SINGAPORE, DOLLARS

 

Address

:

6 SHENTON WAY, DBS BUILDING TOWER ONE SINGAPORE 068809

 

3)

Charge No.

:

C201002476

 

Date of Registration

:

24/03/2010

 

Chargee

:

MALAYAN BANKING BERHAD

 

Amount Secured  and Currency

:

4,300,000.00 SINGAPORE, DOLLARS

 

Address

:

2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907

 

4)

Charge No.

:

C200907170

 

Date of Registration

:

06/11/2009

 

Chargee

:

MALAYAN BANKING BERHAD

 

Amount Secured  and Currency

:

4,300,000.00 SINGAPORE, DOLLARS

 

Address

:

2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907

 

5)

Charge No.

:

9601366

 

Date of Registration

:

11/03/1996

 

Chargee

:

THE DEVELOPMENT BANK OF SINGAPORE LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

6)

Charge No.

:

9601365

 

Date of Registration

:

11/03/1996

 

Chargee

:

THE DEVELOPMENT BANK OF SINGAPORE LIMITED

 

Amount Secured  and Currency

:

4,000,000.00 SINGAPORE, DOLLARS

 

Address

:

---

 

7)

Charge No.

:

9601365

 

Date of Registration

:

11/03/1996

 

Chargee

:

THE DEVELOPMENT BANK OF SINGAPORE LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

8)

Charge No.

:

9507897

 

Date of Registration

:

21/12/1995

 

Chargee

:

MALAYAN BANKING BERHAD

 

Amount Secured  and Currency

:

6,416,900.00 SINGAPORE, DOLLARS

 

Address

:

2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907

 

9)

Charge No.

:

9507897

 

Date of Registration

:

21/12/1995

 

Chargee

:

MALAYAN BANKING BERHAD

 

Amount Secured  and Currency

:

327,600.00 U.S. DOLLAR

 

Address

:

2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907

 

10)

Charge No.

:

9507897

 

Date of Registration

:

21/12/1995

 

Chargee

:

MALAYAN BANKING BERHAD

 

Amount Secured  and Currency

:

All Monies

 

Address

:

2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907

 

11)

Charge No.

:

9202217

 

Date of Registration

:

04/06/1992

 

Chargee

:

MALAYAN BANKING BERHAD

 

Amount Secured  and Currency

:

4,000,000.00 SINGAPORE, DOLLARS

 

Address

:

2 BATTERY ROAD MAYBANK TOWER SINGAPORE 049907

 

12)

Charge No.

:

199704658

 

Date of Registration

:

31/07/1997

 

Chargee

:

THE DEVELOPMENT BANK OF SINGAPORE LIMITED

 

Amount Secured  and Currency

:

5,000,000.00 SINGAPORE, DOLLARS

 

Address

:

---

 

13)

Charge No.

:

199704658

 

Date of Registration

:

31/07/1997

 

Chargee

:

THE DEVELOPMENT BANK OF SINGAPORE LIMITED

 

Amount Secured  and Currency

:

All Monies

 

Address

:

---

 

 

 

             

 

LITIGATION

 

To date, there have been 1  litigation suits filed against Subject.

 

 

Current Year

On/After 01 Jan 2012

Past Years

Bef 01 Jan 2012

 

Court (Claim under normal circumstances)

Magistrate (< $80,000)

0

1

District ($80,000 - $250,000)

0

0

High (>$250,000)

0

0

 

Winding Up Trace

 

No

In litigation/Dissolved/Struck Off/In receivership

No

 

The details are as follows:

 

1)

Court

:

Magistrate Court

 

Case No.

:

24161

 

Transfer

:

-

 

Date of Filing

:

22/08/2002

 

Amount

:

0.00

 

Cause

:

Negligence - Motor Accidents (Injuries)

 

Case Status

:

DEEMED DISCONTINUED

 

Plaintiff

:

SELAMAT BIN ASMAT

 

 

 

COMPLIANCE

 

Date of Last AGM

:

29/06/2012

Date of Last AR

:

24/07/2012

Date of A/C Laid At Last AGM

:

31/12/2011
 

COMPLIANCE RATING FOR ANNUAL FILING

 

ANNUAL GENERAL MEETING,ANNUAL RETURN AND ACCOUNTS UP-TO-DATE

 

Note:

 

Provided by ACRA (Accounting and Corporate Regulatory Authority), the Compliance Rating for Annual Filing measures a company’s compliance with the provisions under S175, S197 or S201 of the Companies Act, Cap. 50.

 

Applicable to all “Live” locally incorporated companies except for the Limited Partnerships, Limited Liability Partnerships, Business Entities, Foreign Companies and Public Accounting Firms, the rating provide information on whether a company is up-to-date with the holding of its Annual General Meeting (AGM) with up-to-date financial statements and filing of its Annual Return (AR).

 

For more information: www.acra.gov.sg/compliance

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Group

 

DEC 2011

% Change

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SGD - SIN

 

SGD - SIN

SGD - SIN

SGD - SIN

SGD - SIN

Profit and Loss Key Figures

 

 

 

 

 

 

Turnover

130,909,312

4.82

124,883,676

116,084,042

116,918,850

116,174,445

Profit/(Loss) Before Tax

10,064,488

-5.21

10,617,140

11,410,037

7,798,285

8,464,091

Profit After Tax attributable to Shareholders

7,566,440

-9.39

8,350,566

9,146,474

6,614,972

7,082,545

 

 

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

 

 

Total Assets

90,696,563

9.10

83,133,725

74,835,714

59,298,774

67,657,776

Current Assets

60,630,205

11.25

54,496,811

49,699,518

37,432,150

45,626,900

Non Current Assets

30,066,358

4.99

28,636,914

25,136,196

21,866,624

22,030,876

 

 

 

 

 

 

 

Total Liabilities

20,711,899

13.10

18,312,852

18,047,199

14,744,346

25,773,413

Current Liabilities

20,187,330

14.02

17,704,396

17,370,108

13,742,622

24,300,178

Non Current Liabilities

524,569

-13.79

608,456

677,091

1,001,724

1,473,235

 

 

 

 

 

 

 

Shareholders' Funds

69,984,664

7.97

64,820,873

56,788,515

44,554,428

41,884,363

Share Capital

5,000,000

0.00

5,000,000

5,000,000

5,000,000

5,000,000

Total Reserves

64,984,664

8.63

59,820,873

51,788,515

39,554,428

36,884,363

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL RATIOS

 

 

Group

 

DEC 2011

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

 

Year-on-Year Growth

4.82

7.58

-0.71

0.64

NA

 

 

 

 

 

 

Profitability

 

 

 

 

 

Profit Margin (%)

5.78

6.69

7.88

5.66

6.10

Return on Equity (%)

10.81

12.88

16.11

14.85

16.91

Return on Assets (%)

8.34

10.04

12.22

11.16

10.47

 

 

 

 

 

 

Leverage

 

 

 

 

 

Total Debt/Equity (Times)

0.30

0.28

0.32

0.33

0.62

Current Debt/Equity (Times)

0.29

0.27

0.31

0.31

0.58

Long Term Debt To Equity (Times)

0.01

0.01

0.01

0.02

0.04

Total Asset To Total Equity (Times)

1.30

1.28

1.32

1.33

1.62

 

 

 

 

 

 

Asset Management

 

 

 

 

 

Total Assets Turnover (Times)

1.44

1.50

1.55

1.97

1.72

Fixed Assets Turnover (Times)

4.35

4.36

4.62

5.35

5.27

 

 

 

 

 

 

Liquidity

 

 

 

 

 

Current Ratio (Times)

3.00

3.08

2.86

2.72

1.88

 

 

 

 

 

 

 

FINANCIAL HIGHLIGHTS

 

Financial Figures

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Currency

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

SINGAPORE, DOLLARS

 

Profit and Loss Key Figures

 

 

 

 

Turnover

36,479,091

0

0

0

Profit/(Loss) Before Tax

3,610,218

0

0

0

Profit After Tax attributable

 to Shareholders

3,006,542

0

0

0

 

 

 

 

 

Balance Sheet Key Figures

 

 

 

 

Total Assets

31,335,540

29,441,900

25,705,097

31,604,437

Current Assets

20,045,660

18,100,548

14,261,979

18,345,027

Non Current Assets

11,289,880

11,341,352

11,443,118

13,259,410

 

 

 

 

 

Total Liabilities

8,093,516

7,206,417

6,185,780

14,267,804

Current Liabilities

7,787,516

7,066,300

6,010,663

14,050,137

Non Current Liabilities

306,000

140,117

175,117

217,667

 

 

 

 

 

Shareholders' Funds

23,242,024

22,235,483

19,519,317

17,336,633

Share Capital

5,000,000

5,000,000

5,000,000

5,000,000

Total Reserves

18,242,024

17,235,483

14,519,317

12,336,633

 

 

 

 

 

 

 

 

FINANCIAL RATIOS 

 

 

Company

 

DEC 2010

DEC 2009

DEC 2008

DEC 2007

Growth %

 

 

 

 

Year-on-Year Growth

NA

NA

NA

NA

 

 

 

 

 

Profitability

 

 

 

 

Profit Margin (%)

8.24

0.00

0.00

0.00

Return on Equity (%)

12.94

0.00

0.00

0.00

Return on Assets (%)

9.59

0.00

0.00

0.00

 

 

 

 

 

Leverage

 

 

 

 

Total Debt/Equity (Times)

0.35

0.32

0.32

0.82

Current Debt/Equity (Times)

0.34

0.32

0.31

0.81

Long Term Debt To Equity (Times)

0.01

0.01

0.01

0.01

Total Asset To Total Equity (Times)

1.35

1.32

1.32

1.82

 

 

 

 

 

Asset Management

 

 

 

 

Total Assets Turnover (Times)

1.16

0.00

0.00

0.00

Fixed Assets Turnover (Times)

3.23

0.00

0.00

0.00

 

 

 

 

 

Liquidity

 

 

 

 

Current Ratio (Times)

2.57

2.56

2.37

1.31

 

 

 

 

 

 

 

 

FINANCIAL COMMENTARY

 

Compound Annual Growth Rate

 

The company's CAGR is 3.03% (4 years).

 

CAGR is the year-over-year growth rate of a company over a specified period. Instead of looking at the average growth rate, CAGR allow users to look at the annualized growth rate of a company over a given period, a more indicative measure of growth of a company’s performance over a given period.

 

Profitability

The group yielded a rate of net profit on sales of 5.78 per cent in FY11. The group is now able to book in SGD - SIN 0.06 of profit for every SGD - SIN of sales.

 

Liquidity

Current ratio stood at 3.00 times in FY11. This means that the group has SGD - SIN 3.00 of current assets for every SGD - SIN of current liability incurred.

 

A minimum figure of 1.0 would be considered the lowest limit that this figure should reach. Any business that has a current ratio near 1.0 may be heading for liquidity problems, and would need to be closely monitored. A figure greater than 2.0 would be more desirable, to act as a buffer against any short-term liquidity problems, and give creditors/bank managers a degree of comfort when granting credit/finance.

 

Leverage

Total debt-to-equity ratio notched 0.30 times in FY11. This means that the group requires additional external financing of SGD - SIN 0.30 for every SGD - SIN injected into its operations.

 

Generally, a total debt-to-equity ratio of less than 0.5 times is preferred. The ratio measures the proportion of the company's reliance on external debt for financing, relative to the shareholder's fund. A lower ratio would imply a greater financial safety and operating freedom for the company.

 

 

Efficiency Ratio

 

Return on equity was 10.81 per cent for Subject in the current financial period. The return on equity measures the return earned on the owner's investment.  Generally, the higher this return, the better off the owner.

 

Return on assets stood at 8.34 per cent. The return on asset measures the overall effectiveness of management in generating profit with its available assets.

 

Total assets turnover ratio logged at 1.44 times in FY11. This ratio measures the group's ability to make productive use of its total assets to generate sales which reflects the efficiency of the management in utilising its resources.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.87

UK Pound

1

Rs.85.52

Euro

1

Rs.71.77

 

 

INFORMATION DETAILS

 

Report Prepared by :

NLM

 

 

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

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NB

New Business

 

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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.