MIRA
INFORM REPORT
|
Report Date : |
30.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
C.R.R. PRODUCT CO., LTD. |
|
|
|
|
Registered Office : |
292/3-4 Suksawat Road, Bangpakok, Rajburana, Bangkok 10140 |
|
|
|
|
Country : |
Thailand |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
1998 |
|
|
|
|
Com. Reg. No.: |
0105541025591 [Former :
[3] 482/2541] |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Distributor and Exporting
of tractor parts
and equipments |
|
|
|
|
No. of Employees : |
26 |
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 – 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
C.R.R. PRODUCT CO.,
LTD.
SUMMARY
BUSINESS ADDRESS : 292/3-4
SUKSAWAT ROAD, BANGPAKOK,
RAJBURANA, BANGKOK
10140, THAILAND
TELEPHONE : [66] 2876-8145-6,
2476-7714
FAX : [66] 2476-7762
E-MAIL ADDRESS : crrprodt@truemail.com
REGISTRATION ADDRESS : SAME AS BUSINESS
ADDRESS
ESTABLISHED : 1998
REGISTRATION NO. : 0105541025591 [Former
: [3] 482/2541]
TAX ID NO. : 3011928912
CAPITAL REGISTERED : BHT.
20,000,000
CAPITAL PAID-UP : BHT.
20,000,000
SHAREHOLDER’S PROPORTION : THAI
: 100%
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL STATUS : PRIVATE LIMITED
COMPANY
EXECUTIVE : MR.
PICHAI CHANABORIBOONCHAI, THAI
MANAGING DIRECTOR
NO. OF STAFF : 26
LINES OF BUSINESS : TRACTORS PARTS
AND EQUIPMENT
IMPORTER, DISTRIBUTOR
& EXPORTER
CORPORATE PROFILE
OPERATING TREND : STABLE
PRESENT SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT STANDARD : MANAGEMENT
WITH FAIR PERFORMANCE
HISTORY
The subject was
established on April
27, 1998 as
a private limited
company under the
name style C.R.R.
PRODUCT CO., LTD.,
by Thai groups,
in order to
distribute and export
tractors parts and equipment.
It currently employs
26 staff.
The subject’s registered
address is 292/3-4
Suksawat Rd., Bangpakok, Rajburana,
Bangkok 10140, and
this is the
subject’s current operation address.
THE BOARD
OF DIRECTOR
|
Name |
|
Nationality |
Age |
|
|
|
|
|
|
Mr. Pichai Chanaboriboonchai |
|
Thai |
50 |
|
Ms. Orapin Siripatrawong |
|
Thai |
56 |
AUTHORIZED PERSON
One of the
above directors can
sign on behalf
of the subject
with company’s affixed.
MANAGEMENT
Mr. Pichai Chanaboriboonchai is
the Managing Director.
He is Thai
nationality with the
age of 50
years old.
Mr. Narong Rujithanakul
is the Marketing
Manager.
He is Thai
nationality.
BUSINESS OPERATIONS
The subject’s activity
is a distributor
and exporting of
tractor parts and
equipments, including gear,
counter gear, alternator, carrier
wheel hub drive
gear, oil pump,
fuel filter, con
rod bush, starter,
clutch plate, steering
pump, piston ring,
cylinder head gasket,
cylinder head, shaft,
rotary, air filter,
bush, oil seal,
pin ., as well
as providing maintenance
services.
MAJOR BRANDS
“HINOMOTO”, “KUBOTA”, “FORD”,
“JOHNDEER”, “ISEKI”, “YANMAR”
and etc.
PURCHASE
80% of the
products is purchased
from local suppliers
and manufacturers, and the remaining 20% is
imported from Taiwan,
Japan and Republic of
China.
MAJOR SUPPLIER
Siam Kubota Industry
Co., Ltd. : Thailand
SALES [LOCAL]
Most of the
products are sold
by wholesale and
retail to end-users,
the remaining is
exported and re-exported
to U.S.A., Japan
and Malaysia.
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
for 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
credits term of
30-60 days.
Imports are by
T/T.
Exports are against
T/T.
BUSINESS TRANSACTION
The products are
sold and serviced
by cash and
credit, with the
maximum credit given at
30-60 days. The
subject is not
found to have
problem on its
account receivable.
BANKING
Thanachart Bank Public Co.,
Ltd.
[New Petchburi Branch
: 1101 New Petchburi
Rd., Makkasan, Rajthevee,
Bangkok]
Bangkok Bank Public
Co., Ltd.
EMPLOYMENT
The subject currently
employs 26 staff
[office, sales staff
and service workers].
LOCATION DETAILS
The premise is
owned for administrative office at
the heading address. Premise is
located in commercial/residential area.
Warehouse is located
at 292/43-44 Suksawat 1
Rd., Bangpakok, Rajburana,
Bangkok 10140.
COMMENT
The subject has
attained a stable
business status over
year’s efforts. Its
general situation was
favorable and witnessing
stable growth in
its business turnover.
The tractor parts
market remains promising.
Its current business
is moderate.
FINANCIAL INFORMATION
The capital was
initially registered at
Bht. 1,000,000 divided
into 10,000 shares
of Bht. 100
each.
The capital was
increased later as
follows:
Bht. 2,000,000
on September 28,
2001
Bht. 4,100,000
on September 27,
2002
Bht. 20,000,000
on October 17,
2012
The latest registered
capital was increased
to Bht. 20,000,000 divided into
200,000 shares of
Bht. 100 each
with fully paid.
THE SHAREHOLDERS
LISTED WERE :
[as at April
27, 2013]
|
NAME |
HOLDING |
% |
|
|
|
|
|
Mr. Pichai Chanaboriboonchai Nationality: Thai Address : 100/11
Soi Prachauthis 33,
Bangmod,
Thungkru, Bangkok |
55,000 |
27.50 |
|
Ms. Orapin Siripatrawong Nationality: Thai Address : 91/620
Moo 6, Samaedam,
Bangkhunthien,
Bangkok 10150 |
53,050 |
26.53 |
|
Mr. Nirun Porn-Ananrat Nationality: Thai Address : 146/25
Banbart, Pomprab, Bangkok 10100 |
45,000 |
22.50 |
|
Mr. Narong Rujithanakul Nationality: Thai Address : 457/9-10
Soi Kaewfah, Mahaprutharam,
Bangrak, Bangkok |
40,000 |
20.00 |
|
Master Natchapat Siripatrawong Nationality: Thai Address : 4
Soi Prachauthit 98,
Thungkru, Bangkok |
6,950 |
3.47 |
Total Shareholders : 5
Share Structure
[as at April
27, 2013]
|
Nationality |
Shareholders |
No.
of Share |
%
Shares |
|
|
|
|
|
|
Thai |
5 |
200,000 |
100.00 |
|
Foreign |
- |
- |
- |
|
Total |
5 |
200,000 |
100.00 |
NAME OF
AUDITOR & CERTIFIED
PUBLIC ACCOUNTANT NO. :
Mr. Sutthi Kriengchaipruek No.
2831
BALANCE SHEET [BAHT]
The latest financial figures published
as at December
31, 2012, 2011
& 2010 were:
ASSETS
|
Current Assets |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Cash and Cash Equivalents |
436,521.66 |
382,041.50 |
606.482.91 |
|
Trade Accounts & Other Receivable |
4,599,922.02 |
2,443,482.42 |
3.193.485.63 |
|
Inventories |
33,786,207.46 |
27,798,765.67 |
19.862.183.50 |
|
Other Current Assets
|
3,775,782.26 |
3,149,363.59 |
1.744.937.03 |
|
|
|
|
|
|
Total Current Assets
|
42,598,433.40 |
33,773,653.18 |
25.407.089.07 |
|
|
|
|
|
|
Fixed Assets |
802,193.93 |
1,369,111.61 |
1.370.907.58 |
|
Other Non-current Assets |
16,500.00 |
16,500.00 |
16.500.00 |
|
Total Assets |
43,417,127.33 |
35,159,264.79 |
26.794.496.65 |
LIABILITIES &
SHAREHOLDERS’ EQUITY [BAHT]
|
Current
Liabilities |
2012 |
2011 |
2010 |
|
|
|
|
|
|
Trade Accounts & Other Payable
|
7,025,294.05 |
3,482,561.25 |
365,544.25 |
|
Current Portion of Long-term Loans |
111,419.00 |
191,004.00 |
- |
|
Accrued Income Tax |
174,733.02 |
133,803.11 |
- |
|
Other Current Liabilities |
1,197,672.89 |
2,180,026.54 |
2,112,584.27 |
|
|
|
|
|
|
Total Current Liabilities |
8,509,118.96 |
5,987,394.90 |
2,478,128.52 |
|
Long-term Loan |
11,000,000.00 |
22,191,419.00 |
17,980,000.00 |
|
Total Liabilities |
19,509,118.96 |
28,178,813.90 |
20,458,128.52 |
|
|
|
|
|
|
Shareholders' Equity |
|
|
|
|
|
|
|
|
|
Share capital : Baht 100
par value authorized, issued
and fully paid share
capital 200,000 shares
in 2012, 41,000
shares in 2011 & 2010 |
20,000,000.00 |
4,100,000.00 |
4,100,000.00 |
|
|
|
|
|
|
Capital Paid |
20,000,000.00 |
4,100,000.00 |
4,100,000.00 |
|
Retained Earning Unappropriated [Deficit] |
3,908,008.37 |
2,880,450.89 |
2,236,368.13 |
|
Total Shareholders' Equity |
23,908,008.37 |
6,980,450.89 |
6,336,368.13 |
|
Total Liabilities & Shareholders' Equity |
43,417,127.33 |
34,159,264.79 |
26,794,496.65 |
PROFIT &
LOSS ACCOUNT
|
Revenue |
Jan.
1, 2012 - Dec. 31,
2012 |
Jan.
1, 2011 - Dec. 31,
2011 |
Jan.
1, 2010 - Dec. 31,
2010 |
|
|
|
|
|
|
Sales Income |
44,342,710.16 |
33,828,600.05 |
22,284,943.01 |
|
Other Income |
97,149.26 |
145,179.04 |
84,869.48 |
|
Total Revenues |
44,439,859.42 |
33,973,779.09 |
22,369,812.49 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold |
35,908,673.96 |
26,742,170.07 |
17,727,927.87 |
|
Selling Expenses |
696,617.01 |
548,334.37 |
55,248.00 |
|
Administrative Expenses |
6,205,373.17 |
5,709,443.22 |
3,868,214.44 |
|
Other Expenses |
- |
121,027.15 |
- |
|
Total Expenses |
42,810,664.14 |
33,120,974.81 |
21,651,390.31 |
|
|
|
|
|
|
Profit before Financial Cost & Income
Tax |
1,629,195.28 |
852,804.28 |
718,422.18 |
|
Financial Cost |
[295,804.78] |
[2,918.41] |
- |
|
Profit before Income Tax |
1,333,390.50 |
849,885.87 |
718,422.18 |
|
Income Tax |
[305,833.02] |
[205,803.11] |
[34,547.49] |
|
|
|
|
|
|
Net Profit / [Loss] |
1,027,557.48 |
644,082.76 |
683,874.69 |
|
Retained Earning, Beginning of Year |
2,880,450.89 |
2,236,368.13 |
1,552,493.44 |
|
Retained Earning, End of Year |
3,908,008.38 |
2,880,450.89 |
2,236,368.13 |
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2012 |
2011 |
2010 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
5.01 |
5.64 |
10.25 |
|
QUICK RATIO |
TIMES |
0.59 |
0.47 |
1.53 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
55.28 |
24.71 |
16.26 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.02 |
0.96 |
0.83 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
343.43 |
379.42 |
408.94 |
|
INVENTORY TURNOVER |
TIMES |
1.06 |
0.96 |
0.89 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
37.86 |
26.36 |
52.31 |
|
RECEIVABLES TURNOVER |
TIMES |
9.64 |
13.84 |
6.98 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
71.41 |
47.53 |
7.53 |
|
CASH CONVERSION CYCLE |
DAYS |
309.88 |
358.25 |
453.72 |
|
|
|
|
|
|
|
PROFITABILITY RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
80.98 |
79.05 |
79.55 |
|
SELLING & ADMINISTRATION |
% |
15.57 |
18.50 |
17.61 |
|
INTEREST |
% |
0.67 |
0.01 |
- |
|
GROSS PROFIT MARGIN |
% |
19.24 |
21.38 |
20.83 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
3.67 |
2.52 |
3.22 |
|
NET PROFIT MARGIN |
% |
2.32 |
1.90 |
3.07 |
|
RETURN ON EQUITY |
% |
4.30 |
9.23 |
10.79 |
|
RETURN ON ASSET |
% |
2.37 |
1.83 |
2.55 |
|
EARNING PER SHARE |
BAHT |
5.14 |
15.71 |
16.68 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.45 |
0.80 |
0.76 |
|
DEBT TO EQUITY RATIO |
TIMES |
0.82 |
4.04 |
3.23 |
|
TIME INTEREST EARNED |
TIMES |
5.51 |
292.22 |
- |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
31.08 |
51.80 |
|
|
OPERATING PROFIT |
% |
91.04 |
18.71 |
|
|
NET PROFIT |
% |
59.54 |
(5.82) |
|
|
FIXED ASSETS |
% |
(41.41) |
(0.13) |
|
|
TOTAL ASSETS |
% |
23.49 |
31.22 |
|
ANNUAL GROWTH : IMPRESSIVE
An annual sales growth is 31.08%.
Turnover has increased from THB
PROFITABILITY :
SATISFACTORY
PROFITABILITY RATIO
|
Gross Profit Margin |
19.24 |
Impressive |
Industrial Average |
11.16 |
|
Net Profit Margin |
2.32 |
Impressive |
Industrial Average |
1.45 |
|
Return on Assets |
2.37 |
Satisfactory |
Industrial Average |
2.86 |
|
Return on Equity |
4.30 |
Deteriorated |
Industrial Average |
9.54 |
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 19.24%. 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
2.32%, 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. When compared with the
industry average, it was lower, the company's figure is 2.37%.
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. When compared with the
industry average, it was lower, the company's figure is 4.3%.
Trend of the average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Downtrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
5.01 |
Impressive |
Industrial Average |
1.38 |
|
Quick Ratio |
0.59 |
|
|
|
|
Cash Conversion Cycle |
309.88 |
|
|
|
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 5.01 times in 2012, decreased
from 5.64 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 higher, indicated that company was an efficient operator in a
dominant position within its industry.
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 0.59 times in 2012,
increased from 0.47 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 310 days.
Trend of the average competitors in the same industry for last 5 years
Current Ratio Downtrend
LEVERAGE :
EXCELLENT
LEVERAGE RATIO
|
Debt Ratio |
0.45 |
Impressive |
Industrial Average |
0.71 |
|
Debt to Equity Ratio |
0.82 |
Impressive |
Industrial Average |
2.47 |
|
Times Interest Earned |
5.51 |
Impressive |
Industrial Average |
- |
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 5.51 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 0.45 less than 0.5, most of the company's
assets are financed through equity.
Trend of the average competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Downtrend
ACTIVITY :
SATISFACTORY
ACTIVITY RATIO
|
Fixed Assets Turnover |
55.28 |
Impressive |
Industrial Average |
- |
|
Total Assets Turnover |
1.02 |
Acceptable |
Industrial Average |
1.97 |
|
Inventory Conversion Period |
343.43 |
|
|
|
|
Inventory Turnover |
1.06 |
Deteriorated |
Industrial Average |
3.34 |
|
Receivables Conversion Period |
37.86 |
|
|
|
|
Receivables Turnover |
9.64 |
Impressive |
Industrial Average |
2.81 |
|
Payables Conversion Period |
71.41 |
|
|
|
The company's Account Receivable Ratio is calculated as 9.64 and
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 decreased from 379 days at the
end of 2011 to 343 days at the end of 2012. This represents a positive trend.
And Inventory turnover has increased from 0.96 times in year 2011 to 1.06 times
in year 2012.
The company's Total Asset Turnover is calculated as 1.02 times and 0.96
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 Downtrend
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.