MIRA INFORM REPORT

Report Date :

24.07.2013

IDENTIFICATION DETAILS

Name :	JOHN DEERE ASIA (SINGAPORE) PRIVATE LIMITED
Registered Office :	438 Alexandra Road #06-02 Alexandra Point Singapore 119958
Country :	Singapore
Financials (as on) :	31.10.2011
Date of Incorporation :	13.07.2006
Com. Reg. No.:	200610270R
Legal Form :	Limited Private Company
Line of Business :	Wholesale of Agricultural Machinery, Equipment and Supplies
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Aa

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Excellent
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 – March 31^st, 2013

Country Name	Previous Rating (31.12.2012)	Current Rating (31.03.2013)
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 0.8% in 2009 as a result of the global financial crisis, but rebounded 14.8% in 2010, on the strength of renewed exports, before slowing to 5.2% in 2011 and 1.3% in 2012, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity, which has sunk to an average of about 1.0% 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:
JOHN DEERE ASIA (SINGAPORE) PRIVATE LIMITED	200610270R

Date Incorporated:	Registered Office:	Telephone Number:
13/07/2006	438 ALEXANDRA ROAD #06-02 ALEXANDRA POINT SINGAPORE 119958	6879 8800
Age of Company:	Website:	Industry Type:
7	http://www.deere.com/	COMMERCE-WHOLESALE

Risk Dashboard
Days Beyond Terms	Trend:	No. of Litigation Counts:
Company DTC:		NA
NA
The entity is paying current to the creditors		No. of Charges(s): 0
Industry DTC
23

Directors		Corporate Structure
Number of Current Directors	5	Holding Company:	JOHN DEERE NEDERLAND B.V.
Number that are shareholders	1	No. of Subsidiaries & Associated Companies:	NA

EXECUTIVE SUMMARY

Company Name	:	JOHN DEERE ASIA (SINGAPORE) PRIVATE LIMITED
Registration No	:	200610270R
Date of Registration	:	13/07/2006
Former Name	:	NA
Date of Change of Name	:	NA
Type of Company	:	LIMITED PRIVATE COMPANY
Registered Address	:	438 ALEXANDRA ROAD #06-02 ALEXANDRA POINT SINGAPORE 119958
Date of Change of Address	:	15/01/2008
Contact No.	:	6879 8800
Fax No.	:	6278 0363
Website	:	http://www.deere.com/
Registered Activities	:	WHOLESALE OF AGRICULTURAL MACHINERY, EQUIPMENT AND SUPPLIES
Issued Ordinary Capital*	:	$15,664,006.00 SINGAPORE, DOLLARS ,NO. OF SHARE : 15,664,006
Issued Preference Capital	:	NA
Paid-Up Ordinary Capital	:	$15,664,006.00 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	:	NA
No. of Local Associates	:	NA
Auditor	:	DELOITTE & TOUCHE LLP
Bankers / Financiers	:	NA
Turnover	:	SGD - SIN 322,166,582.00 (FY2011)
Net Worth	:	SGD - SIN 63,320,960.00 (FY2011)
No. of Bank Charges	:	NA
No. of Litigation Suits	:	NA

S1000 / SME 1000 / FG50 Ranking	:	712 POSITION IN Singapore 1000 Companies Ranked by Net Profit (2011/2012) 888 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2011/2012) 861 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2010/2011) 844 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2009/2010) 922 POSITION IN Singapore 1000 Companies Ranked by Sales/Turnover (2008/2009)
Compounded Annual Growth Rate (CAGR)	:	27.52% (4 years)

SHAREHOLDER DETAILS

NAME	:	JOHN DEERE NEDERLAND B.V.
SHAREHOLDER ID	:	T09UF1641A
NATIONALITY	:	NETHERLANDS
ADDRESS	:	ENERGIESTRAAT 16, 5961PT HORST, THE NETHERLANDS
NO. OF ORD SHARES	:	15,664,006
% OF SHAREHOLDING	:	100%
CURRENCY	:	SINGAPORE, DOLLARS

OFFICER DETAILS

NAME	:	GANESH JAYARAM
ADDRESS	:	5325 54TH AVENUE COURT, BETTENDORF IA 52722, USA
POSITION	:	DIRECTOR
DATE OF APPT	:	01/04/2012
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	420008257
NAME	:	MICHAEL LYNN GAUSE
ADDRESS	:	6821 WELLINGTON PLACE, 80108, UNITED STATES
POSITION	:	DIRECTOR
DATE OF APPT	:	01/12/2012
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	426902428
NAME	:	JOEL VAN VARK
ADDRESS	:	55 KHEAM HOCK ROAD SINGAPORE 298818
POSITION	:	DIRECTOR
DATE OF APPT	:	01/04/2012
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	G5218304P
NAME	:	MURUMKAR SACHIN VISHNUPAN
ADDRESS	:	6 ALEXANDRA VIEW #03-05 METROPOLITAN CONDOMINIUM SINGAPORE 158746
POSITION	:	SECRETARY
DATE OF APPT	:	16/04/2013
NATIONALITY	:	INDIAN
I/C PASSPORT	:	G5410919P
NAME	:	DANIEL T FITZPATRICK
ADDRESS	:	31 ORANGE GROVE ROAD #01-05 ORANGE GROVE RESIDENCES SINGAPORE 258358
POSITION	:	DIRECTOR
DATE OF APPT	:	04/10/2010
NATIONALITY	:	AMERICAN
I/C PASSPORT	:	G6442380R
NAME	:	LEE SOON GUAN CRISPUS
ADDRESS	:	656B JURONG WEST STREET 61 #13-303 SINGAPORE 642656
POSITION	:	DIRECTOR
DATE OF APPT	:	14/09/2007
NATIONALITY	:	SINGAPORE CITIZEN
I/C PASSPORT	:	S1291273J

KEY PERSONNEL PROFILE

Name:	LEE SOON GUAN CRISPUS
NRIC Number:	S1291273J
Available Address:	656B JURONG WEST STREET 61 #13-303 SINGAPORE 642656

Current Business Interest

No.	Name	Position	Appt Date	#of Share	%
1	BERT AGENCY SERVICES (S) PTE LTD	SECRETARY	01/07/1989	-	NA
2	IMPRIMIS IMPRESSION PRIVATE LIMITED	SECRETARY	30/09/1995	-	NA
3	JOHN DEERE ASIA (SINGAPORE) PRIVATE LIMITED	DIRECTOR	14/09/2007	-	NA
4	SIINCOPETRA (SINGAPORE) PTE LTD	SECRETARY	07/10/1992	-	NA
5	SP UNITY AGENCIES PTE LTD	SECRETARY	01/07/1989	-	NA

Previous Business

No.	Name	Status	Position	Appt Date	Last Known Inactive Date
1	ACHIEVERS UNITED INTERNATIONAL PTE LTD	STRUCK OFF	SECRETARY	22/01/2002	28/11/2003
2	AE COMPUTER SYSTEMS PTE LTD	LIVE COMPANY	SECRETARY	03/05/1996	19/06/2013
3	ATC INTERNATIONAL PTE LTD	STRUCK OFF	SECRETARY	07/06/1997	13/07/1999
4	BX CONSULTING SERVICES PTE LTD	STRUCK OFF	SECRETARY	04/09/1999	27/07/2009
5	CHENG MENG FURNITURE GROUP (PTE.) LTD.	LIVE COMPANY	SECRETARY	16/11/2001	17/07/2013
6	CHENG MENG HOLDINGS PTE LTD	LIVE COMPANY	SECRETARY	16/11/2001	06/10/2004
7	CHENG MENG INVESTMENT PTE. LTD.	LIVE COMPANY	SECRETARY	16/11/2001	27/09/2005
8	CM MING PTE. LTD.	LIVE COMPANY	SECRETARY	28/11/2001	17/05/2013
9	CONTRACT INTERIORS INC. PTE LTD	LIVE COMPANY	SECRETARY	15/02/2002	06/10/2004
10	CORRVAS INSURANCE (SINGAPORE) PTE. LTD.	LIVE COMPANY	DIRECTOR	08/07/1998	17/07/2013
11	CORRVAS INSURANCE (SINGAPORE) PTE. LTD.	LIVE COMPANY	SECRETARY	08/06/2000	17/07/2013
12	CREATIVE JEWELLERY PTE LTD	STRUCK OFF	SECRETARY	01/09/1990	07/06/1991

13	D2G TRADING & SUPPLIES PTE LTD	STRUCK OFF	SECRETARY	01/12/1999	07/09/2002
14	DREAMLAND (SINGAPORE) PTE LTD	STRUCK OFF	DIRECTOR	18/05/1994	14/03/2003
15	DREAMLAND (SINGAPORE) PTE LTD	STRUCK OFF	SECRETARY	18/05/1994	14/03/2003
16	DUNLOP SHELTER SINGAPORE PTE LTD	STRUCK OFF	DIRECTOR	13/10/1993	10/01/1998
17	DUNLOP SHELTER SINGAPORE PTE LTD	STRUCK OFF	SECRETARY	13/10/1993	10/01/1998
18	DURA-WILLS	TERMINATION	MANAGER	13/10/1992	14/10/1993
19	EATON PRINTING CO. PTE LTD	DISSOLVED - COMPULSORY WINDING UP	SECRETARY	25/11/1993	03/07/2002
20	ETAG MARKETING PTE LTD	STRUCK OFF	SECRETARY	15/09/1990	31/01/2000
21	FACE THE LITHO WORKSHOP PTE LTD	STRUCK OFF	SECRETARY	01/03/1994	27/02/2003
22	GARAGE CAFE & PUB PTE LTD	STRUCK OFF	SECRETARY	25/10/1999	28/11/2003
23	GNB TECHNOLOGIES	LIVE	MANAGER	14/09/1992	03/11/1993
24	HOSPITAL & LAB FURNITURE PTE LTD	STRUCK OFF	SECRETARY	16/11/2001	06/10/2004
25	INTERNATIONAL RISK MANAGEMENT (SINGAPORE) PTE LTD	STRUCK OFF	DIRECTOR	17/08/1989	01/06/2012
26	INTERNATIONAL RISK MANAGEMENT (SINGAPORE) PTE LTD	STRUCK OFF	SECRETARY	17/08/1989	01/06/2012
27	JE PROTEUS PTE LTD	STRUCK OFF	SECRETARY	06/12/1999	26/04/2011
28	JOHN DEERE ASIA (SINGAPORE) PRIVATE LIMITED	LIVE COMPANY	SECRETARY	29/05/2009	07/12/2012
29	JOHN DEERE CONSTRUCTION & FORESTRY (ASIA PACIFIC) PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	03/09/2009	-
30	JOHN DEERE CONSTRUCTION & FORESTRY (ASIA PACIFIC) PTE. LTD.	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SECRETARY	03/09/2009	-
31	KESAVAN INVESTMENTS PTE. LTD.	LIVE COMPANY	SECRETARY	16/11/2001	28/05/2013
32	KONG PENG TRADING PTE LTD	STRUCK OFF	SECRETARY	29/06/1984	25/05/1985

33	LOSCAM ASIA PRIVATE LIMITED	LIVE COMPANY	DIRECTOR	28/06/1994	17/05/2013
34	LOSCAM ASIA PRIVATE LIMITED	LIVE COMPANY	SECRETARY	28/06/1994	17/05/2013
35	LOSCAM ASIA PRIVATE LIMITED	LIVE COMPANY	SHAREHOLDER	-	17/05/2013
36	LOSCAM SINGAPORE PRIVATE LIMITED	LIVE COMPANY	DIRECTOR	30/10/1993	02/07/2013
37	LOSCAM SINGAPORE PRIVATE LIMITED	LIVE COMPANY	SECRETARY	30/10/1993	02/07/2013
38	MAINFORZ AUDIOTECH (INTERNATIONAL) PTE. LTD.	STRUCK OFF	SECRETARY	09/01/1995	01/07/1996
39	MARK-ASIA (INC) TRADING PTE LTD	STRUCK OFF	SECRETARY	09/01/1995	03/10/1996
40	NUCLEUS TRADING PTE LTD	LIVE COMPANY	DIRECTOR	17/05/1996	25/10/2001
41	NUCLEUS TRADING PTE LTD	LIVE COMPANY	SECRETARY	17/05/1996	25/10/2001
42	PACIFIC DUNLOP HOLDINGS (SINGAPORE) PTE LTD	LIVE COMPANY	DIRECTOR	15/08/1992	25/10/2001
43	PACIFIC DUNLOP HOLDINGS (SINGAPORE) PTE LTD	LIVE COMPANY	SECRETARY	15/08/1992	25/10/2001
44	PACIFIC DUNLOP INDUSTRIAL	TERMINATION	MANAGER	22/08/1994	01/08/1997
45	ROBERTS INTERNATIONAL TRADING	TERMINATION	MANAGER	24/07/1995	07/10/1997
46	ROBERTS INTERNATIONAL TRADING	TERMINATION	OWNER	24/07/1995	07/10/1997
47	SENTIN PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SECRETARY	31/10/1991	23/06/1993
48	SKEGA FAR EAST PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SECRETARY	22/02/1995	19/10/1997
49	SOUTHERN INSURANCE PTE LTD	LIVE COMPANY	SECRETARY	12/02/1990	19/07/2013
50	SP EVE DISTRICT (1991) PTE LTD	LIVE COMPANY	SECRETARY	06/12/1999	25/04/2013

51	SVEDALA MINING SUPPLIES PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	DIRECTOR	23/11/1994	01/03/1999
52	SVEDALA MINING SUPPLIES PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SECRETARY	23/11/1994	01/03/1999
53	SVEDALA MINING SUPPLIES PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SHAREHOLDER	-	15/06/2007
54	TANG WOODCRAFT PTE. LTD.	LIVE COMPANY	SECRETARY	16/11/2001	19/03/2013
55	TINO INSPECTION INTERNATIONAL (S) PTE LTD	STRUCK OFF	SECRETARY	02/02/1995	03/10/1996
56	TNC HOLDINGS PTE. LTD.	LIVE COMPANY	DIRECTOR	28/03/1996	25/10/2001
57	TNC HOLDINGS PTE. LTD.	LIVE COMPANY	SECRETARY	28/03/1996	25/10/2001
58	TNC MEDICAL DEVICES PTE. LTD.	STRUCK OFF	DIRECTOR	28/03/1996	22/11/1997
59	TNC MEDICAL DEVICES PTE. LTD.	STRUCK OFF	SECRETARY	28/03/1996	22/11/1997
60	UNIVERSAL RISK SOLUTIONS PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SECRETARY	29/06/1984	24/09/1984
61	VALCON-MATIC PACIFIC PRIVATE LTD	LIVE COMPANY	DIRECTOR	26/12/1992	16/05/2013
62	VALCON-MATIC PACIFIC PRIVATE LTD	LIVE COMPANY	SECRETARY	26/12/1992	16/05/2013
63	VALCON-MATIC PACIFIC PRIVATE LTD	LIVE COMPANY	SHAREHOLDER	-	16/05/2013
64	VICAN INTERNATIONAL PTE LTD	STRUCK OFF	DIRECTOR	13/07/1999	13/01/2001
65	VICAN INTERNATIONAL PTE LTD	STRUCK OFF	SECRETARY	01/08/1998	13/01/2001
66	VICAN INTERNATIONAL PTE LTD	STRUCK OFF	SHAREHOLDER	-	-
67	VOZDEN (ASIA) PTE LTD	DISSOLVED - MEMBERS' VOLUNTARY WINDING UP	SECRETARY	13/07/1992	31/07/1993

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 (%)
NA

BANKERS/ FINANCIERS

Subject enjoys a normal banking routine with its bankers. To date, there are no bank charges registered against Subject by its bankers.

LITIGATION

Clear

COMPLIANCE

Date of Last AGM	:	10/02/2012
Date of Last AR	:	10/02/2012
Date of A/C Laid At Last AGM	:	31/10/2011

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	Company
	OCT 2011	% Change	OCT 2010	OCT 2009	OCT 2008
Currency	SGD - SIN		SGD - SIN	SGD - SIN	SGD - SIN
Profit and Loss Key Figures
Turnover	322,166,582	13.52	283,809,266	259,707,578	189,698,741
Profit/(Loss) Before Tax	38,975,202	143.44	16,010,017	14,613,826	13,660,094
Profit After Tax attributable to Shareholders	37,694,178	153.71	14,857,078	12,732,579	10,519,111
Balance Sheet Key Figures
Total Assets	121,329,143	120.47	55,030,849	54,116,380	91,338,971
Current Assets	116,224,452	122.75	52,177,264	53,647,536	87,301,680
Non Current Assets	5,104,691	78.89	2,853,585	468,844	4,037,291
Total Liabilities	58,008,182	115.11	26,966,852	16,869,112	25,993,704
Current Liabilities	57,983,052	115.25	26,937,956	16,869,112	25,877,746
Non Current Liabilities	25,130	-13.03	28,896	0	115,958
Shareholders' Funds	63,320,960	125.63	28,063,996	37,247,267	65,345,268
Share Capital	12,565,170	-8.68	13,760,170	14,686,580	40,997,565
Total Reserves	50,755,790	254.84	14,303,826	22,560,687	24,347,703

FINANCIAL RATIOS

	Company
	OCT 2011	OCT 2010	OCT 2009	OCT 2008
Growth %
Year-on-Year Growth	13.52	9.28	36.91	55.69
Profitability
Profit Margin (%)	11.70	5.23	4.90	5.55
Return on Equity (%)	59.53	52.94	34.18	16.10
Return on Assets (%)	31.07	27.00	23.53	11.52
Leverage
Total Debt/Equity (Times)	0.92	0.96	0.45	0.40
Current Debt/Equity (Times)	0.92	0.96	0.45	0.40
Long Term Debt To Equity (Times)	0.00	0.00	0.00	0.00
Total Asset To Total Equity (Times)	1.92	1.96	1.45	1.40
Asset Management
Total Assets Turnover (Times)	2.66	5.16	4.80	2.08
Fixed Assets Turnover (Times)	63.11	99.46	553.93	46.99
Liquidity
Current Ratio (Times)	2.00	1.94	3.18	3.37

FINANCIAL COMMENTARY

Compound Annual Growth Rate

The company's CAGR is 27.52% (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 company yielded a rate of net profit on sales of 11.70 per cent in FY11 (FY10: 5.23 per cent). The company is now able to book in SGD - SIN 0.12 of profit for every SGD - SIN of sales in FY11, as compared with SGD - SIN 0.05 a year ago.

Liquidity

Current ratio stood at 2.00 times in FY11 (FY10: 1.94 times). This means that the company has SGD - SIN 2.00 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.

FINANCIAL COMMENTARY

Leverage

Total debt-to-equity ratio notched 0.92 times in FY11, compared with 0.96 times in FY10. This means that the company requires additional external financing of SGD - SIN 0.92 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 59.53 per cent for Subject in the current financial period, as compared to 52.94 per cent a year ago. 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 31.07 per cent (FY10: 27.00 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 2.66 times in FY11 (FY10: 5.16 times). This ratio measures the company'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.59.68
UK Pound	1	Rs.91.66
Euro	1	Rs.78.68

INFORMATION DETAILS

Report Prepared by :

PRL

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%)

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.