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Report Date : |
06.04.2014 |
IDENTIFICATION DETAILS
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Name : |
DONGKANG M-TECH CO., LTD. |
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Formerly Known as: |
DONGKANG SEONKI
CO., LTD. |
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Registered Office : |
74, Bongeunsa-Ro 24-Gil, Gangnam-Gu, Seoul, Korea, Zip Code 135-908 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
27.07.1994 |
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Com. Reg. No.: |
220-81-27086 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
· Wholesaler of Transportation Equipment · Subject product range includes Navigational System for Vessel, Satellite Broadcasting Receiving Antenna for Vessel, Communications System for Vessel, Propulsion Equipment for Vessel, Engine for Sea, Ship Control System, Vessel Traffic System, Ship Operating Simulator, Night Vision System, Solar Heat Lamp, Bow Thruster, Marine Pollution Prevention of the Breeding and Extermination Equipment, Electronic Chart Display and Information System & Water-Jet |
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No. of Employees |
41 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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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 |
SOUTH KOREA – ECONOMIC OVERVIEW
South Korea over the past four
decades has demonstrated incredible growth and global integration to become a
high-tech industrialized economy. In the 1960s, GDP per capita was comparable
with levels in the poorer countries of Africa and Asia. In 2004, South Korea
joined the trillion dollar club of world economies, and is currently the world’s
12th largest economy. Initially, a system of close government and
business ties, including directed credit and import restrictions, made this
success possible. The government promoted the import of raw materials and
technology at the expense of consumer goods, and encouraged savings and
investment over consumption. The Asian financial crisis of 1997-98 exposed
longstanding weaknesses in South Korea’s development model including high
debt/equity ratios and massive short-term foreign borrowing. GDP plunged by
6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous
economic reforms following the crisis, including greater openness to foreign
investment and imports. Growth moderated to about 4% annually between 2003 and
2007. Korea’s export focused economy was hit hard by the 2008 global economic
downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in
2010. The US-South Korea Free Trade Agreement was ratified by both governments
in 2011 and went into effect in March 2012. Throughout 2012 and 2013 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The administration in 2014 is likely to face
the challenge of balancing heavy reliance on exports with developing
domestic-oriented sectors, such as services. The South Korean economy’s long
term challenges include a rapidly aging population, inflexible labor market,
and heavy reliance on exports – which comprise about half of GDP.
|
Source : CIA |
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Company Name |
DONGKANG M-TECH
CO., LTD. (Korean Company Name : “동강엠텍(주)”) |
|
Registered Address |
74, Bongeunsa-ro 24-gil, Gangnam-gu, Seoul, Korea |
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Zip Code |
135-908 |
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Tel |
+82-2-553-0181 |
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Fax |
+82-2-553-0121 |
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E-mail |
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|
Website |
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Trading Address |
74, Bongeunsa-ro 24-gil, Gangnam-gu,
Seoul, Korea (Old Address System : 632-15, Yeoksam 1-dong, Gangnam-gu, Seoul,
Korea) |
|
Tel |
+82-2-553-0181 |
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Fax |
+82-2-553-0121 |
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Other Address-Gunsan Factory |
139-40, Saemangeumbuk-ro, Gunsan-si, Jeollabuk-do, Korea |
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Tel |
+82-63-463-0178 |
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Fax |
+82-63-463-0170 |
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Other Address |
257, Hakgam-daero, Sasang-gu, Busan, Korea |
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Tel |
+82-51-816-3557 |
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Fax |
+82-51-816-3559 |
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Other Address |
65, Techno 3-ro, Yuseong-gu, Daejeon, Kiorea |
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Tel |
+82-42-861-3630 |
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Fax |
+82-42-861-3631 |
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Type |
Import |
|
Industry |
Wholesaler
of Transportation Equipment |
|
Main Business |
Navigational
System for Vessel, Satellite Broadcasting Receiving Antenna for Vessel,
Communications System for Vessel, Propulsion Equipment for Vessel, Engine for
Sea, Ship Control System, Vessel Traffic System, Ship Operating Simulator,
Night Vision System, Solar Heat Lamp, Bow Thruster, Marine Pollution
Prevention of the Breeding and Extermination Equipment, Electronic Chart
Display and Information System & Water-Jet |
|
Established (mm/dd/yyyy) |
07/27/1994 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Marine craft systems and subassemblies(25111900) |
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Sell |
Engines(26101500) |
|
Name |
Cha
Yeong-Mun |
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Address |
Suite 101-2103, 209, Nonhyeon-ro,
Gangnam-gu, Seoul, Korea |
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Date of Birth |
03/22/1958 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
2,500,000,000 |
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Employees |
41 |
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Formation |
Co.,
Ltd by Shares |
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Bank Details |
Shinhan Bank Industrial Bank of Korea Korea Exchange Bank |
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Corporate Registered No. |
110111-1061334 |
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Business Registered No. |
220-81-27086 |
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Permit & Licenses |
Int’l
Trade No.: 11177476 |
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Shareholder Position |
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Company History |
07/27/1994
Incorporated as DONGKANG SEONKI CO., LTD. 01/02/2001 Changed company name to the
present name 03/28/2002 Increased the authorized shares
to 80,000 shares from 40,000 shares 03/29/2002 Increased capital to 250,000,000
KRW from 150,000,000 KRW 03/10/2008 Moved to the present HQ address
from 739-5,
Yeoksam 1-dong, Gangnam-gu, Seoul, Korea |
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Cha
Yeong-Mun |
Male |
Korean |
01/24/2000 |
|
Director |
Mr. |
Lee Chang-Kyu |
Male |
Korean |
03/20/2006 |
|
Auditor |
Mr. |
Moon Choon-Keun |
Male |
Korean |
03/20/2012 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2012 |
13,548,396,575 |
15,317,329,839 |
1,104,211,281 |
|
2011 |
11,049,378,688 |
13,564,314,012 |
1,151,172,657 |
|
2010 |
10,317,364,760 |
11,959,278,555 |
1,113,989,170 |
|
2009 |
11,690,726,538 |
11,052,538,166 |
1,361,004,696 |
|
2008 |
7,228,079,142 |
8,291,654,404 |
1,040,851,639 |
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Authorized Capital(KRW) |
4,000,000,000 |
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Paid-Up Capital(KRW) |
2,500,000,000 |
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Total Issued Shares |
50,000 |
Balance
Sheet
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|||
|
Unit : Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
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Total Assets |
15,317,329,839 |
13,564,314,012 |
11,959,278,555 |
|
Current Assets |
6,010,598,118 |
4,602,343,472 |
5,216,174,520 |
|
-Quick
Assets |
4,775,414,011 |
3,614,774,871 |
3,864,839,372 |
|
-Inventories |
1,235,184,107 |
987,568,601 |
1,351,335,148 |
|
Fixed
Assets |
9,306,731,721 |
8,961,970,540 |
6,743,104,035 |
|
-Investment |
1,422,436,346 |
1,176,278,433 |
891,611,700 |
|
-Tangibles |
7,416,600,390 |
7,255,092,397 |
5,721,081,715 |
|
-Intangibles |
351,346,365 |
399,859,090 |
- |
|
-Others |
116,348,620 |
130,740,620 |
130,410,620 |
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Total Liabilities |
5,987,183,310 |
5,155,952,714 |
4,552,089,914 |
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Current Liabilities |
2,489,616,026 |
1,907,188,372 |
2,406,662,667 |
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Fixed Liabilities |
3,497,567,284 |
3,248,764,342 |
2,145,427,247 |
|
Capital Stock |
250,000,000 |
250,000,000 |
250,000,000 |
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Capital Surplus |
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|
|
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Profit Surplus |
9,080,146,529 |
8,158,361,298 |
7,157,188,641 |
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Capital Adjustment |
|
|
|
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Total Equity |
9,330,146,529 |
8,408,361,298 |
7,407,188,641 |
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Liab. &
Shareholder’s Equity |
15,317,329,839 |
13,564,314,012 |
11,959,278,555 |
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Current Liabilities |
2,489,616,026 |
1,907,188,372 |
2,406,662,667 |
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Trade Payables |
200,682,786 |
6,085,419 |
108,045,604 |
|
Short-Term Borrowings |
783,228,972 |
500,000,000 |
- |
|
Accrued Income Tax |
193,932,950 |
152,082,240 |
129,022,840 |
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Account Payables |
38,197,746 |
103,479,452 |
135,675,520 |
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Accrued Expenses |
39,988,182 |
31,684,253 |
30,131,568 |
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Withholdings |
20,023,660 |
19,340,280 |
16,868,080 |
|
Advance Receipts |
781,986,156 |
778,756,728 |
1,671,159,055 |
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Current Portion of Long-Term Debts |
399,160,000 |
315,760,000 |
315,760,000 |
|
Provisions |
32,415,574 |
- |
- |
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Fixed Liabilities |
3,497,567,284 |
3,248,764,342 |
2,145,427,247 |
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Long-Term Borrowings |
2,862,360,000 |
2,761,520,000 |
1,707,280,000 |
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Leasehold Deposit Received |
5,000,000 |
- |
- |
|
Provision for Severance & Retirement |
634,126,484 |
491,163,542 |
442,066,447 |
Income
Statement
|
|||
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Unit : Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Sales |
13,548,396,575 |
11,049,378,688 |
10,317,364,760 |
|
Cost of Sold Goods |
7,808,441,849 |
5,854,617,254 |
5,105,171,009 |
|
Gross Profit |
5,739,954,726 |
5,194,761,434 |
5,212,193,751 |
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Selling & Admin. Expenses |
4,236,078,510 |
3,698,525,572 |
3,543,888,032 |
|
Operating Income |
1,503,876,216 |
1,496,235,862 |
1,668,305,719 |
|
Non-Operating Income |
201,793,408 |
136,992,611 |
171,037,524 |
|
Non-Operating Expenses |
279,506,698 |
195,011,705 |
444,175,003 |
|
Income Before Taxes |
1,426,162,926 |
1,438,216,768 |
1,395,168,240 |
|
Income Taxes Expenses |
321,951,645 |
287,044,111 |
281,179,070 |
|
Net Income |
1,104,211,281 |
1,151,172,657 |
1,113,989,170 |
Cash Flows
|
|||
|
Unit : Korean Won |
As of
12/31/2012 |
As of
12/31/2011 |
As of
12/31/2010 |
|
Cash Flows from Operating |
1,166,268,611 |
894,129,538 |
3,589,724,994 |
|
-Net Income |
1,104,211,281 |
1,151,172,657 |
1,113,989,170 |
|
-Exp. without Cash Outflow |
743,525,055 |
362,293,510 |
403,120,582 |
|
-Revenue without Cash Inflows |
-12,475,183 |
-193,534 |
-16,621,216 |
|
-Changes in Asset/ & Liability |
-668,992,542 |
-619,143,095 |
2,089,236,458 |
|
Cash Flows from Investing |
-1,309,082,412 |
-3,071,621,408 |
-633,765,095 |
|
-Cash Inflow from Investing |
66,149,759 |
13,827,162 |
195,969,822 |
|
-Cash Outflows for Investing |
-1,375,232,171 |
-3,085,448,570 |
-829,734,917 |
|
Cash Flows from Financing |
322,468,972 |
1,404,240,000 |
-1,409,786,931 |
|
-Cash Inflows from Financing |
788,228,972 |
1,870,000,000 |
760,000,000 |
|
-Cash Outflows from Financing |
-465,760,000 |
-465,760,000 |
-2,169,786,931 |
|
Increase/Decrease in Cash |
179,655,171 |
-773,251,870 |
1,546,172,968 |
|
Cash at the Beginning of Year |
809,072,657 |
1,582,324,527 |
36,151,559 |
|
Cash at the End of Year |
988,727,828 |
809,072,657 |
1,582,324,527 |
|
Main Products & Services |
Navigational
System for Vessel, Satellite Broadcasting Receiving Antenna for Vessel,
Communications System for Vessel, Propulsion Equipment for Vessel, Engine for
Sea, Ship Control System, Vessel Traffic System, Ship Operating Simulator,
Night Vision System, Solar Heat Lamp, Bow Thruster, Marine Pollution
Prevention of the Breeding and Extermination Equipment, Electronic Chart
Display and Information System & Water-Jet |
|
Competitors |
CENTRAL MARITIME CO., LTD. 1419-4, DAEJEO 1-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-971-0777 FAX:+82-51-972-0779 GOODSEN INTERNATIONAL CO., LTD. RM. 405, HANYEONG BLDG., 57-9,
SEOSOMUN-DONG, JUNG-GU, SEOUL, KOREA TEL:+82-2-756-3506 FAX:+82-2-6670-2265 AJAX MARITIME CO., LTD. 3RD FL., DAECHANG BLDG., 64, DAEGYODONG
1-GA, YEONGDO-GU, BUSAN, KOREA TEL:+82-51-417-8877 FAX:+82-51-417-8879 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
DONGKANG S-TECH
CO., LTD.(205411-0010928) FREETECH I&T CO., LTD.(110111-1658420) |
|
Cooperative Enterprise |
-Insured Company HANWHA
GENERAL INSURANCE CO., LTD.(110111-0006456) |
(Activity & Markets)
Not Available.
No.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.32 |
|
UK Pound |
1 |
Rs.100.04 |
|
Euro |
1 |
Rs.82.65 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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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 |
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-- |
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.