MIRA INFORM REPORT

 

 

Report Date :

13.08.2014

 

IDENTIFICATION DETAILS

 

Name :

SSAB EMEA AB

 

 

Registered Office :

61380 Oxelösund

 

 

Country :

Sweden

 

 

Financials (as on) :

2013

 

 

Date of Incorporation :

10.12.1987

 

 

Com. Reg. No.:

5563137933

 

 

Legal Form :

Limited liability company

 

 

Line of Business :

Manufacture of basic iron and steel and of ferro-alloys

 

 

No of Employees :

4865

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow But Correct

 

 

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 01, 2014

 

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Sweden

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

 

D

 

 

SWEDEN ECONOMIC OVERVIEW

 

Aided by peace and neutrality for the whole of the 20th century, Sweden has achieved an enviable standard of living under a mixed system of high-tech capitalism and extensive welfare benefits. It has a modern distribution system, excellent internal and external communications, and a highly skilled labor force. In September 2003, Swedish voters turned down entry into the euro system concerned about the impact on the economy and sovereignty. Timber, hydropower, and iron ore constitute the resource base of an economy heavily oriented toward foreign trade. Privately owned firms account for vast majority of industrial output, of which the engineering sector accounts for about 50% of output and exports. Agriculture accounts for little more than 1% of GDP and of employment. Until 2008, Sweden was in the midst of a sustained economic upswing, boosted by increased domestic demand and strong exports. This, and robust finances, offered the center-right government considerable scope to implement its reform program aimed at increasing employment, reducing welfare dependence, and streamlining the state's role in the economy. Despite strong finances and underlying fundamentals, the Swedish economy slid into recession in the third quarter of 2008 and the contraction continued in 2009 as deteriorating global conditions reduced export demand and consumption. Strong exports of commodities and a return to profitability by Sweden's banking sector drove a rebound in 2010, but growth slipped in 2013, as a result of continued economic weakness in the EU - Sweden’s main export market.

 

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

 

Business Name

SSAB EMEA AB

Country

SWEDEN

Company Registration Number

5563137933

Main Activity

Manufacture of basic iron and steel and of ferro-alloys

Activity Code

24100

Company Status

Active

Latest Turnover Figure

16.821.000.000

Latest Shareholder Equity Figure

1.751.000.000

 

Basic Information

Business Name

SSAB EMEA AB

Registered Company Name

SSAB EMEA AB

Company Registration Number

5563137933

Country

SWEDEN

VAT Registration Number

SE556313793301

Date of Company Registration

10/12/1987

Legal Form

Limited liability company

Company Status

Active

Currency of this Report

SEK

Principal Activity Description

Bolaget har till föremål för sin verksamhet att äga och förvalta fast egendom, framställa, förädla och sälja järn och stål samt idka därmed förenlig verksamhet.

Contact Address

, 61380 OXELÖSUND

Contact Telephone Number

0155-254000

DIRECTORS/MANAGEMENT

 

Current Directors

Name

Appointment Date

Position

 

Erik Martin Lindqvist

17/01/2011

Chairman of Board

 

Klas Lennart Melker Jernberg

18/11/2011

Actual Member of Board

 

Bo Sture Bergvall

19/01/2010

Actual Member of Board

 

Patrick Alexanderson Sjöholm

30/07/2011

Actual Member of Board

 

Sven Jonas Bergstrand

06/08/2008

Actual Member of Board

 

Karl Uno Granbom

19/01/2010

Substitute

 

Lars Peter Holmér

13/11/2012

Substitute

 

 

Previous Directors

Name

Appointment Date

Position

Resignation Date

Per Franz Scheikl

19/01/2010

Substitute

 

Thom Meyer Mathisen

18/11/2011

External Signatory

 

Bo Olof Jerräng

 

Actual Member of Board

 

Olof Bertil Faxander

22/06/2006

Actual Member of Board

 

Erik Martin Lindqvist

19/01/2010

Managing Director

 

Karl-Gustav Ramström

06/08/2008

Actual Member of Board

 

Lena Margareta Fornstedt

01/11/2003

Substitute

 

Jan-Ove Billy Tallstig

13/05/2006

Substitute

 

 

 

 

NEGATIVE INFORMATION

 

No negative information found.

 

SHARE & SHARE CAPITAL INFORMATION

 

Issued Share Capital

1.000.000

 

PAYMENT INFORMATION

 

Debt balance at the Swedish Enforcement Agency

Number of Private Claims

1

Balance of Private Claims

1.582

Number of Public Claims

-

Balance of Public Claims

-

Total Balance

1.582

 

 

Record of non-payment

Number of distraint attempts and repossessions

-

Number of public claims

-

Number of private claims

7

Number of applications for an order to pay

10

Number of reclaimed/revoked applications

30

 

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Extended Group Structure

Company Name

Country

Number

Latest Annual Accounts

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png0SSAB AB

SE

5560163429

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1SSAB Americas Holding AB

SE

5568586654

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1Dannemora Gruvor Aktiebolag

SE

5561155911

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1Sigvard Kämpe Aktiebolag

SE

5560290628

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1SSAB Technology AB

SE

5562074905

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1SSAB APAC Holding AB

SE

5568586647

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1Plannja Aktiebolag

SE

5561211417

31/12/2012

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Plannja Förvaltning AB

SE

5567854400

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Plannja As

NO

910281089

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Plannja As

DK

 

 

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Plannja Limited

GB

01034562

30/06/2006

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Plannja Oy Ab

FI

03663125

31/12/2012

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Plannja Siba Aktiebolag

SE

5560775701

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Plannja Sp Zoo

PL

 

 

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Plannja Steinwalls AB

SE

5563121135

31/12/2013

 

1Ssab Central Inc

CA

 

 

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1SSAB Finance Belgium En Liquidation SPRL

BE

808066715

31/12/2012

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1SSAB EMEA AB

SE

5563137933

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2SSAB Tubes AB

SE

5568837248

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2SSAB Merox Aktiebolag

SE

5561235978

31/12/2012

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2SSAB Nordic Steel Aktiebolag

SE

5560618935

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2SSAB Tunnplåt Aktiebolag

SE

5563137941

31/12/2010

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png3SSAB Swedish Steel B.V.

NL

100296280000

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png3Ssab Swedish Steel Limited

GB

00710624

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png3Ssab Swedish Steel S.P.A.

IT

02991930179

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png3Ssab Swedish Steel Strip Prod Int Trade (Kunshan

CN

 

 

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png3Ssab Svensk Stål A/S

DK

 

 

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1Tibnor Aktiebolag

SE

5560044447

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2E.M Eriksson Steel Service Center Aktiebolag

SE

5563204287

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Norén & Persson Aktiebolag

SE

5562687680

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Dickson Plåt Service Center Aktiebolag

SE

5561222141

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2EO Stål Aktiebolag

SE

5563464915

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Fastighets Aktiebolaget Kardborren

SE

5563106268

31/12/2012

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Förvaltnings Aktiebolaget Tegelhögen

SE

5562624998

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Linköpings Stål AB

SE

5565489522

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Norrlands Handelsjärn Aktiebolag

SE

5560669581

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Oy Tibnor

FI

 

 

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Plåtdepån i Borlänge Aktiebolag

SE

5561303131

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tappers Stål & Metaller Aktiebolag

SE

5562680305

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tibnor A/S

DK

 

 

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tibnor As

NO

930388009

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tibnor Heimer Aktiebolag

SE

5560054016

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tibnor Industrivaruhus Nord Aktiebolag

SE

5560350489

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tibnor Kapital Aktiebolag

SE

5560157298

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tibnor Karlges Aktiebolag

SE

5560414392

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tibnor Lanna AB

SE

5560213331

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tibnor Sia

LV

 

 

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png2Tibnor Väst Aktiebolag

SE

5560064718

31/12/2013

 

http://app.creditsafe.fi/CSFIWebsiteLive/Images/Prospect/clickable.png1Western Steel Ltd

CA

 

 

 

 

 

FINANCIAL INFORMATION

 

Profit and Loss

Financial Year

2013

2012

2011

Number of Weeks

52

52

52

Currency

SEK

SEK

SEK

Consolidated Accounts

N

N

N

Revenue

17.409.000.000

19.498.000.000

23.626.000.000

Operating Costs

18.431.000.000

20.761.000.000

23.697.000.000

Operating Profit

-1.022.000.000

-1.263.000.000

-71.000.000

Wages & Salaries

-

-

-

Depreciation

-

-

-

Financial Income

6.000.000

3.000.000

13.000.000

Financial Expenses

-227.000.000

-346.000.000

-400.000.000

Extraordinary Income

-

-

-

Extraordinary Costs

-227.000.000

-346.000.000

-400.000.000

Profit before Tax

-1.216.000.000

-1.571.000.000

-414.000.000

Tax

-17.000.000

19.000.000

15.000.000

Profit after Tax

-1.233.000.000

-1.552.000.000

-399.000.000

Minority Interests

-

-

-

Other Appropriations

1.306.000.000

1.566.000.000

416.000.000

Retained Profit

73.000.000

14.000.000

17.000.000

 

Balance Sheet

Financial Year

2013

2012

2011

Number of Weeks

52

52

52

Currency

SEK

SEK

SEK

Consolidated Accounts

N

N

N

Land & Buildings

1.057.000.000

1.087.000.000

1.143.000.000

Plant & Machinery

6.863.000.000

7.494.000.000

7.494.000.000

Other Tangible Assets

744.000.000

775.000.000

1.307.000.000

Total Tangible Assets

8.664.000.000

9.356.000.000

9.944.000.000

Goodwill

0

0

0

Other Intangible Assets

0

0

0

Total Intangible Assets

0

0

0

Loans To Group

33.000.000

0

0

Other Loans

0

0

0

Miscellaneous Fixed Assets

482.000.000

500.000.000

467.000.000

Total Other Fixed Assets

515.000.000

500.000.000

467.000.000

TOTAL FIXED ASSETS

9.179.000.000

9.856.000.000

10.411.000.000

Work In Progress

0

0

0

Other Inventories

4.560.000.000

5.138.000.000

7.285.000.000

Total Inventories

4.560.000.000

5.138.000.000

7.285.000.000

Trade Receivables

1.797.000.000

1.486.000.000

2.066.000.000

Group Receivables

3.784.000.000

4.642.000.000

3.533.000.000

Miscellaneous Receivables

399.000.000

560.000.000

441.000.000

Total Receivables

5.980.000.000

6.688.000.000

6.040.000.000

Cash

42.000.000

26.000.000

50.000.000

Other Current Assets

0

0

0

TOTAL CURRENT ASSETS

10.582.000.000

11.852.000.000

13.375.000.000

TOTAL ASSETS

19.761.000.000

21.708.000.000

23.786.000.000

Trade Payables

2.350.000.000

1.595.000.000

1.996.000.000

Bank Liabilities

0

0

0

Group Payables

9.670.000.000

11.416.000.000

12.581.000.000

Miscellaneous Liabilities

1.324.000.000

1.246.000.000

1.278.000.000

TOTAL CURRENT LIABILITIES

13.344.000.000

14.257.000.000

15.855.000.000

Bank Liabilities Due After 1 Year

0

0

0

Other Loans Or Finance Due After 1 Year

0

0

0

Group Payables After 1 Year

0

0

0

Miscellaneous Liabilities Due After 1 Year

4.665.000.000

5.773.000.000

6.267.000.000

TOTAL LONG TERM LIABILITIES

4.666.000.000

5.774.000.000

6.268.000.000

TOTAL LIABILITIES

18.010.000.000

20.031.000.000

22.123.000.000

Called Up Share Capital

1.000.000

100.000

1.000.000

Share Premium

0

0

0

Revenue Reserves

73.000.000

1.676.900.000

1.662.000.000

Other Reserves

1.677.000.000

0

0

TOTAL SHAREHOLDERS EQUITY

1.751.000.000

1.677.000.000

1.663.000.000

 

Other Financials

Contingent Liabilities

0

0

0

Working Capital

-2.762.000.000

-2.405.000.000

-2.480.000.000

Net Worth

1.751.000.000

1.677.000.000

1.663.000.000

 

Ratios

Pre-Tax Profit Margin

-6.98 %

-8.06 %

-1.75 %

Return On Capital Employed

-3.67 %

-4.37 %

-1.04 %

Return On Total Assets Employed

-6.15 %

-7.24 %

-1.74 %

Return On Net Assets Employed

-69.45 %

-93.68 %

-24.89 %

Sales/Net Working Capital

-6.30

-8.11

-9.53

Stock Turnover Ratio

26.19 %

26.35 %

30.83 %

Debtor Days

37.68

27.82

31.92

Creditor Days

49.27

29.86

30.84

Current Ratio

0.79

0.83

0.84

Liquidity Ratio/Acid Test

0.45

0.47

0.38

Current Debt Ratio

7.62

8.50

9.53

Gearing

9.88 %

15.32 %

21.17 %

Equity In Percentage

9.10 %

7.91 %

7.13 %

Total Debt Ratio

10.29

11.94

13.30

 

FOREIGN EXCHANGE RATES

 

N/a

 

ADDITIONAL INFORMATION

 

Activities

Activity Code

Activity Description

24100

Manufacture of basic iron and steel and of ferro-alloys

24320

Cold rolling of narrow strip

19100

Manufacture of coke oven products

38110

Collection of non-hazardous waste

35210

Manufacture of gas

 

Main Address

Address

Country

Telephone

, 61380 OXELÖSUND

SWEDEN

0155-254000

 

Other Address

Address

Country

Slottsvägen SAPA INDUSTRISEVICE AB, 61231

SWEDEN

Svartöns Industriområde, 97437

SWEDEN

Kontorsviksvägen 7, 78444

SWEDEN

 

Email Addresses

info@ssab.com

 

Web Pages

No information for this company.

 

Employee Information

Year

Number of Employees

2013

4865

2012

5726

2011

5991

2010

1999

2009

1982

 

Advisors

Auditor Name

PricewaterhouseCoopers AB

 

Tax Registrations

Registered for FTax

Yes

Registered for VAT

Yes

Registered for Employee Tax

Yes

 

Certificates

Type

Category

Issuer

No certificate information for this company.

 

 

 

Industry Comparison

Activity Code

24100

Activity Description

Manufacture of basic iron and steel and of ferro-alloys

Industry Average Credit Rating

85 (1 - 100)

Industry Average Credit Limit

32.092.000

 

Event History

Event Date

Event Description

06/08/2014

Group Structure Change

28/07/2014

Group Structure Change

11/07/2014

Annual account, new

07/07/2014

Annual report (PDF), new

19/06/2014

Group Structure Change

13/06/2014

Group Structure Change

11/06/2014

Group Structure Change

19/05/2014

Group Structure Change

14/05/2014

Group Structure Change

08/05/2014

Group Structure Change

05/05/2014

Group Structure Change

24/03/2014

Group Structure Change

09/09/2013

Group Structure Change

05/09/2013

Group Structure Change

28/08/2013

Annual account, new

28/08/2013

Group annual accout, new

21/08/2013

Group Structure Change

12/08/2013

Group Structure Change

30/07/2013

Annual report (PDF), new

09/07/2013

Group Structure Change

08/07/2013

Group Structure Change

20/05/2013

Group Structure Change

05/03/2013

Certificate, registered

20/12/2012

Certificate, registered

14/11/2012

Authorised signatories amended or new/amended vacancy text

14/11/2012

Company representatives, changed

31/10/2012

Authorised signatories amended or new/amended vacancy text

31/10/2012

Company representatives, changed

07/09/2012

Annual account, new

19/07/2012

Company representatives, changed

19/07/2012

Board, changed

25/06/2012

Annual report (PDF), new

31/01/2012

Certificate, registered

24/11/2011

Authorised signatories amended or new/amended vacancy text

19/11/2011

Authorised signatories amended or new/amended vacancy text

19/11/2011

Board, changed

19/11/2011

Company representatives, changed

12/08/2011

Annual account, new

01/08/2011

Authorised signatories amended or new/amended vacancy text

01/08/2011

Board, changed

01/08/2011

Company representatives, changed

28/07/2011

Annual report (PDF), new

17/06/2011

Board, changed

08/06/2011

Certificate, deregistered

25/05/2011

Board, changed

18/05/2011

Board, changed

29/03/2011

Phone number, new

29/03/2011

Fax number, new

21/01/2011

Phone number, removed

21/01/2011

Fax number, removed

18/01/2011

Board, changed

18/01/2011

Company representatives, changed

18/01/2011

Authorised signatories amended or new/amended vacancy text

04/01/2011

Merge information, changed

04/01/2011

Status, changed

02/12/2010

Status, changed

02/12/2010

Company business activity, changed

02/12/2010

Company name, changed (old name: SSAB Oxelösund Aktiebolag)

10/09/2010

Merge information, changed

10/09/2010

Status, changed

30/07/2010

Annual account, new

09/07/2010

Annual report (PDF), new

06/05/2010

Board, changed

20/01/2010

Company representatives, changed

20/01/2010

Authorised signatory, changed

20/01/2010

Board, changed

20/10/2009

Board, changed

20/10/2009

Company representatives, changed

20/10/2009

Authorised signatory, changed

 

Latest Private Claim

Date

04/08/2014

Amount

3.877 SEK

Creditor

Multicom Security AB

Comments

Decision

 

NOTES & COMMENTS

 

N/a

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 61.18

UK Pound

1

Rs. 102.55

Euro

1

Rs. 81.77

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

DPT

 

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.