MIRA INFORM REPORT

 

 

Report Date :

21.07.2014

 

IDENTIFICATION DETAILS

 

Name :

ALLCO LEASING (IGO NO. 2) LIMITED

 

 

Registered Office :

2 Grand Canal Square, Grand Canal Harbour, Dublin 2, 216410

 

 

Country :

Ireland

 

 

Financials (as on) :

30.06.2012

 

 

Date of Incorporation :

22.11.2007

 

 

Legal Form :

Private Company

 

 

Line of Business :

Subject is engaged in Renting and Leasing of Air Passenger Transport Equipment.

 

 

No. of Employees :

Not Available

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Ireland

B1

B1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

IRELAND - ECONOMIC OVERVIEW

 

Ireland is a small, modern, trade-dependent economy. Ireland was among the initial group of 12 EU nations that began circulating the euro on 1 January 2002. GDP growth averaged 6% in 1995-2007, but economic activity has dropped sharply since the onset of the world financial crisis. Ireland entered into a recession in 2008 for the first time in more than a decade, with the subsequent collapse of its domestic property market and construction industry. Property prices rose more rapidly in Ireland in the decade up to 2007 than in any other developed economy. Since their 2007 peak, average house prices have fallen 47%. In the wake of the collapse of the construction sector and the downturn in consumer spending and business investment, the export sector, dominated by foreign multinationals, has become an even more important component of Ireland's economy. Agriculture, once the most important sector, is now dwarfed by industry and services. In 2008 the former COWEN government moved to guarantee all bank deposits, recapitalize the banking system, and establish partly-public venture capital funds in response to the country's economic downturn. In 2009, in continued efforts to stabilize the banking sector, the Irish Government established the National Asset Management Agency (NAMA) to acquire problem commercial property and development loans from Irish banks. Faced with sharply reduced revenues and a burgeoning budget deficit, the Irish Government introduced the first in a series of draconian budgets in 2009. In addition to across-the-board cuts in spending, the 2009 budget included wage reductions for all public servants. These measures were not sufficient to stabilize Ireland’s public finances. In 2010, the budget deficit reached 32.4% of GDP - the world's largest deficit, as a percentage of GDP - because of additional government support for the country’s deeply troubled banking sector. In late 2010, the former COWEN government agreed to a $92 billion loan package from the EU and IMF to help Dublin recapitalize Ireland’s fragile banking sector and avoid defaulting on its sovereign debt. Since entering office in March 2011, the new KENNY government has intensified austerity measures to try to meet the deficit targets under Ireland's EU-IMF program. Ireland has grown slowly since 2011, but managed to reduce the budget deficit to 7.2% of GDP in 2013. In late 2013, Ireland formally exited its EU-IMF bailout program, benefiting from its strict adherence to deficit-reduction targets and success in refinancing a large amount of banking-related debt.

 

Source : CIA

 

Company Name

 

ALLCO LEASING (IGO NO. 2) LIMITED

 

 

Company No

 

IE449537

 

 

Registered Address

 

2 GRAND CANAL SQUARE GRAND CANAL HARBOUR DUBLIN 2 216410

 

 

Company summary

 

Registered Address:       2 Grand Canal Square, Grand Canal Harbour, Dublin 2, 216410

 

Trading Address:            AIB International Centre, International Financial Services Centre, Dublin 1, 216410

 

FPS:                             No

 

Incorporate Date:           22.11.2007

 

Type:                            Private Company

 

Currency:                      EUR

 

Share Capital:                €1

 

SIC07:                          77351

 

SIC07 Description:         Renting and leasing of air passenger transport equipment.

The purchase ang leasing of aircraft. Commenced trading on 22.11.2007. accounts data converted from

 

 

DIRECTORS/MANAGEMENT

 

Total Current Directors

2

Total Current Secretaries

1

Total Previous Directors / Company Secretaries

5

 

Current Directors

Name

THOMAS GEARY

Date of Birth

29/12/1946

Officers Title

 

Nationality

 

Present Appointments

57

Function

Director

Appointment Date

12/05/2009

 

 

Address

OLIVE LODGE, 50 MONKSTOWN ROAD, MONKSTOWN, CO DUBLIN

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

Name

NICHOLAS ANTHONY HARDGE

Date of Birth

04/04/1969

Officers Title

 

Nationality

 

Present Appointments

3

Function

Director

Appointment Date

08/03/2013

 

 

Address

APT 602A QUEEN'S GARDEN, 9 OLD PEAK ROAD, HONG KONG

Other Actions

View Director Report

 

 

Disqualified

 

Disqualified End Date

 

Disqualification Exception

No

 

 

 

 

Current Company Secretary

 

Name

CAPITA INTERNATIONAL FINANCIAL SERVICES (IRELAND) LIMITED

Date of Birth

18/02/1988

Officers Title

 

Nationality

 

Present Appointments

377

Function

Company Secretary

Appointment Date

22/11/2007

 

 

Address

 

 

 

 

Previous Director/Company Secretaries

Name

Current Directorships

Previous Directorships

DAVID LLOYD VEAL

0

6

NICHOLAS ANTHONY HARDGE

0

6

GEOFFREY ANDREW KINGHORN

0

2

COLIN HAYES

30

21

WILLIAM CUMBERLIDGE

1

10

 

 

NEGATIVE INFORMATION

 

Mortgage Summary

 

·         Total Mortgage

·         10

·         Outstanding

·         10

·         Satisfied

·         0

 

CJ

Total Number of Exact CJs -

0

Total Value of Exact CJs -

€0

Total Number of Possible CJs -

0

Total Value of Possible CJs -

€0

Total Number of Satisfied CJs -

0

Total Value of Satisfied CJs -

€0

 

Possible CJ Details

There are no possible CJ details

 

Writ Details

 

 

Mortgage Details

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

21/07/08

 

 

Date Charge Registered:

31/07/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

THE PAYMENT OF THE SECURED MONEY AND THE PERFORMANCE OF THE MORTGAGOR'S OBLIGATIONS UNDER THE MORTGAGE. CAPITALISED TERMS ARE AS DEFINED IN THE ANNEX TO THIS FORM C1.

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

17/07/08

 

 

Date Charge Registered:

31/07/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

The payment of the Secured Money and the discharge of all obligations and liabilities covenanted to be paid or otherwise secured pursuant to the Rent Account Charge. Capitalised terms are as defined in the Annex to this Form CI.

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

17/07/08

 

 

Date Charge Registered:

31/07/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

THE PAYMENT OF THE SECURED MONEY AND THE DISCHARGE OF ALL OBLIGATIONS AND LIABILITIES COVENANTED TO BE PAID OR OTHERWISE SECURED PURSUANT TO THE SUPPLEMENTAL RENT ACCOUNT CHARGE. CAPITALISED TERMS ARE AS DEFINED IN THE ANNEX TO THIS FORM C1.

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

23/05/08

 

 

Date Charge Registered:

11/06/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

The payment of the Secured Money and the discharge of all obligations and liabilities covenanted to be paid or otherwise secured pursuant to the Account Charge. Capitalised terms are as defined in the Annex to this Form Cl.

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

27/05/08

 

 

Date Charge Registered:

12/06/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

The payment of the Secured Money and the performance of the Mortgagor's obligations under the Mortgage- Capitalised terms are as defined in the Annex to this Form Cl.

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

23/05/08

 

 

Date Charge Registered:

11/06/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

The payment of the Secured Money and the discharge of all obligation and liabilities covenanted to be paid or otherwise secured pursuant to the Account Charge. Capitalised terms are as defined in the Annex to this Form Cl.

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

19/02/08

 

 

Date Charge Registered:

07/03/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

The payment of the Secured Money and the performance of the Mortgagor's obligations under the Mortgage. Capitalised terms are as defined in the Annex to this Form C1.

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

19/02/08

 

 

Date Charge Registered:

07/03/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

The payment of the Secured Money and the discharge of all obligations and liabilities covenanted to be paid or otherwise secured pursuant to the Account Charge. Capitalised terms are as defined in the Annex to this Form C1.

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

19/02/08

 

 

Date Charge Registered:

07/03/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

The payment of the Secured Money and the discharge of all obligations and liabilities covenanted to be paid or otherwise secured pursuant to the Account Charge. Capitalised terms are as defined in the Annex to this Form C1.

 

Mortgage Type:

A charge on book debts of the company. A floating charge on the undertakings or property of the comp

Date Charge Created:

19/02/08

 

 

Date Charge Registered:

07/03/08

 

 

Date Charge Satisfied:

-

 

 

Status:

NOT SATISFIED

 

 

Person(s) Entitled:

HSH NORDBANK AG SINGAPORE BRANCH

Amount Secured:

 

Details:

The due and punctual payment of the Secured Money and the performance by the Chargor of its obligation under the Deed. Capitalised terms are as defined in the Annex to this Form Cl.

 

Unregistered - Exact CJ Details

No CJs found

 

Unregistered - Possible CJ Details

No CJs found

 

Registered - Exact CJ Details

No CJs found

 

Registered - Possible CJ Details

No CJs found

 

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Top 20 Shareholders

Name

Currency

Share Count

Share Type

Nominal Value

% of Total Share Count

ALLCO AAF FINANCE NO. 1 (IRELAND) LTD

EUR

1

ORDINARY

1

100

 

 

PAYMENT INFORMATION

 

Trade Debtors / Bad Debt Summary

 

·         Total Number of Documented Trade

·         0

·         Total Value of Documented Trade

·         €0

 

 

Average Invoice Value

n/a

Invoices available

n/a

Paid

n/a

Outstanding

n/a

 

Trade Payment Data is information that we collect from selected third party partners who send us information about their whole sales ledger.

 

 

Within Terms

0-30 Days

31-60 Days

61-90 Days

91+ Days

Paid

 

 

 

 

 

Outstanding

 

 

 

 

 

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Group Structure

Statistics

Group

17 companies

Linkages

0 companies

Countries

In 0 countries

 

 

 

 

FINANCIAL INFORMATION

 

 

Profit & Loss

 

Date Of Accounts

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

(%)

30/06/08

 

Weeks

52

(%)

52

(%)

52

(%)

52

(%)

32

 

Currency

EUR

(%)

EUR

(%)

EUR

(%)

EUR

(%)

EUR

 

Consolidated A/cs

N

(%)

N

(%)

N

(%)

N

(%)

N

Turnover

€7,766,746

-3.6%

€8,054,502

-4%

€8,391,041

17.5%

€7,138,789

520.3%

€1,150,832

Export

€7,750,696

-3.7%

€8,044,753

-4.1%

€8,385,052

-

-

-

-

Cost of Sales

-

-

-

-

-

-

-

-

-

Gross Profit

-

-

-

-

-

-

-

-

-

Wages & Salaries

-

-

-

-

-

-

-

-

-

Directors Emoluments

-

-

-

-

-

-

-

-

-

Operating Profit

-

-

-

-

€493,484

203.1%

-€478,416

-

-

Depreciation

€3,733,299

-

€3,733,299

-3.8%

€3,880,126

14.7%

€3,383,544

375.9%

€710,964

Audit Fees

€6,784

20.1%

€5,650

44.7%

€3,905

-7.6%

€4,227

-71%

€14,574

Interest Payments

€1,128,340

-63.7%

€3,104,325

-17%

€3,740,302

10.4%

€3,388,655

474.4%

€589,987

Pre Tax Profit

€2,644,233

177.5%

€952,873

93.1%

€493,484

203.1%

-€478,416

68.6%

-€1,521,819

Taxation

-€494,433

-999.9%

-€2,880

-123.8%

-€1,287

-148%

-€519

-181.7%

-€184

Profit After Tax

€2,149,801

126.3%

€949,993

93%

€492,197

202.8%

-€478,935

68.5%

-€1,522,003

Dividends Payable

-

-

-

-

-

-

-

-

-

Retained Profit

€2,149,801

126.3%

€949,993

93%

€492,197

202.8%

-€478,935

68.5%

-€1,522,003

 

Balance Sheet

 

Date Of Accounts

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

(%)

30/06/08

Tangible Assets

€77,676,582

-4.6%

€81,409,880

-8%

€88,491,806

9.9%

€80,550,080

33.5%

€60,325,411

Intangible Assets

0

-

0

-

0

-

0

-

0

Total Fixed Assets

€77,676,582

-4.6%

€81,409,880

-8%

€88,491,806

9.9%

€80,550,080

33.5%

€60,325,411

Stock

0

-

0

-

0

-

0

-

0

Trade Debtors

0

-

0

-

0

-

0

-

0

Cash

€13,178,488

31.9%

€9,989,506

39.3%

€7,170,447

132.9%

€3,078,579

932.8%

€298,083

Other Debtors

€3,141,895

198%

€1,054,359

91.5%

€550,629

168%

€205,432

999.9%

€12,696

Miscellaneous Current Assets

0

-

0

-

0

-

0

-100%

€168

Total Current Assets

€16,320,383

47.8%

€11,043,865

43%

€7,721,077

135.1%

€3,284,011

956.1%

€310,947

Trade Creditors

0

-

0

-

0

-

0

-

0

Bank Loans & Overdrafts

0

-

0

-

0

-

0

-

0

Other Short Term Finance

€4,944,997

2.5%

€4,824,833

-94.6%

€90,131,021

999.9%

€3,427,066

40.2%

€2,444,754

Miscellaneous Current Liabilities

€13,142,939

31.9%

€9,964,873

28.6%

€7,746,834

115.5%

€3,594,710

428.7%

€679,904

Total Current Liabilities

€18,087,935

22.3%

€14,789,706

-84.9%

€97,877,854

999.9%

€7,021,777

124.7%

€3,124,658

Bank Loans & Overdrafts and LTL

€74,411,201

-5%

€78,316,014

-

0

-100%

€78,693,407

33.3%

€59,033,703

Other Long Term Finance

€73,920,541

-5.6%

€78,316,014

-

0

-100%

€78,693,407

33.3%

€59,033,703

Total Long Term Liabilities

€74,411,201

-5%

€78,316,014

-

0

-100%

€78,693,407

33.3%

€59,033,703

 

Capital & Reserves

 

Date Of Accounts

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

(%)

30/06/08

Called Up Share Capital

€1

-

€1

-3.8%

€1

14.5%

€1

-8%

€1

P & L Account Reserve

€1,497,827

329.7%

-€651,975

60.8%

-€1,664,972

11.5%

-€1,881,092

-23.6%

-€1,522,003

Revaluation Reserve

-

-

-

-

-

-

-

-

-

Sundry Reserves

-

-

-

-

-

-

-

-

-

Shareholder Funds

€1,497,828

329.7%

-€651,974

60.8%

-€1,664,971

11.5%

-€1,881,092

-23.6%

-€1,522,002

 

Other Financial Items

 

 

Date Of Accounts

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

(%)

30/06/08

Net Worth

€1,497,828

329.7%

-€651,974

60.8%

-€1,664,971

11.5%

-€1,881,092

-23.6%

-€1,522,002

Working Capital

-€1,767,552

52.8%

-€3,745,841

95.8%

-€90,156,777

-999.9%

-€3,737,765

-32.8%

-€2,813,711

Total Assets

€93,996,965

1.7%

€92,453,746

-3.9%

€96,212,883

14.8%

€83,834,091

38.3%

€60,636,358

Total Liabilities

€92,499,137

-0.7%

€93,105,719

-4.9%

€97,877,854

14.2%

€85,715,183

37.9%

€62,158,360

Net Assets

€1,497,828

329.7%

-€651,974

60.8%

-€1,664,971

11.5%

-€1,881,092

-23.6%

-€1,522,002

 

Cash Flow

 

 

Date Of Accounts

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

(%)

30/06/08

Net Cashflow from Operations

-

-

-

-

-

-

-

-

-

Net Cashflow before Financing

-

-

-

-

-

-

-

-

-

Net Cashflow from Financing

-

-

-

-

-

-

-

-

-

Increase in Cash

-

-

-

-

-

-

-

-

-

 

 

Miscellaneous

 

 

Date Of Accounts

30/06/12

(%)

30/06/11

(%)

30/06/10

(%)

30/06/09

(%)

30/06/08

 

Contingent Liability

YES

-

YES

-

YES

-

YES

-

YES

Capital Employed

€75,909,029

-2.3%

€77,664,040

999.9%

-€1,664,971

-102.2%

€76,812,315

33.6%

€57,511,700

Number of Employees

-

-

-

-

-

-

-

-

-

 

Auditors

KPMG

 

Auditor Comments

The audit report contains no adverse comments

 

Bankers

ALLIED IRISH BANK

 

Bank Branch Code

93-00-67

 

Ratios

 

 

Date Of Accounts

30/06/12

30/06/11

30/06/10

30/06/09

30/06/08

Pre-tax profit margin %

34.05

11.83

5.88

-6.70

-132.24

Current ratio

0.90

0.75

0.08

0.47

0.10

Sales/Net Working Capital

-4.39

-2.15

-0.09

-1.91

-0.41

Gearing %

4967.90

-12012.10

0

-4183.40

-3878.70

Equity in %

1.60

-0.70

-1.70

-2.20

-2.50

Creditor Days

-

-

-

-

-

Debtor Days

-

-

-

-

-

Liquidity/Acid Test

0.90

0.74

0.07

0.46

0.09

Return On Capital Employed %

3.48

1.22

-29.63

-0.62

-2.64

Return On Total Assets Employed %

2.81

1.03

0.51

-0.57

-2.50

Current Debt Ratio

12.07

-22.68

-58.78

-3.73

-2.05

Total Debt Ratio

61.75

-142.80

-58.78

-45.56

-40.83

Stock Turnover Ratio %

-

-

-

-

-

Return on Net Assets Employed %

176.53

-146.15

-29.63

25.43

99.98

 

 

FOREIGN EXCHANGE RATES

 

Na

 

ADDITIONAL INFORMATION

 

Enquiries Trend

 

There have been 0 enquiries in the last 12 months.

There are an average of 0 reports taken each month.

 

 

3 MONTHS

6 MONTHS

9 MONTHS

Enquiries

0

0

0

 

 

Status History

 

No Status History found

 

 

Event History

Date

Description

14/05/2014

Annual Returns

06/06/2013

New Accounts Filed

06/06/2013

New Accounts Filed

05/06/2013

Annual Returns

08/03/2013

GEOFFREY ANDREW KINGHORN has left the board

08/03/2013

DAVID LLOYD VEAL has left the board

08/03/2013

New Board Member (NICHOLAS ANTHONY HARDGE) appointed

27/06/2012

New Accounts Filed

27/06/2012

New Accounts Filed

26/06/2012

Annual Returns

08/06/2011

Annual Returns

08/06/2011

New Accounts Filed

08/06/2011

New Accounts Filed

16/09/2010

NICHOLAS ANTHONY HARDGE has left the board

16/09/2010

New Board Member (GEOFFREY ANDREW KINGHORN) appointed

 

 

Previous Company Names

 

No Previous Names found

 

 

Received Documents

 

NOTES & COMMENTS

 

Commentary

 

No comments to display

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.60.33

UK Pound

1

Rs.103.18

Euro

1

Rs.81.58

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

TPT

 

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.