|
Report Date : |
17.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
KYUNGIN SYNTHETIC CORPORATION |
|
|
|
|
Registered Office : |
223-52, Seongnam-dong, Seo-gu, Incheon, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2013 |
|
|
|
|
Date of Incorporation : |
14.10.1977 |
|
|
|
|
Com. Reg. No.: |
137-81-00562 |
|
|
|
|
Legal Form : |
Listed Company |
|
|
|
|
Line of Business : |
Manufacture of Synthetic Colouring Matter, Tanning
Materials and Other Coloring Agents |
|
|
|
|
No. of Employees |
431 |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
South Korea |
A1 |
A1 |
|
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 |
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 |
Basic
|
Company Name |
KYUNGIN SYNTHETIC CORPORATION (Trade Name: KISCO) (Korean Company Name : “(주)경인양행”) |
|
Registered
Address |
223-52, Seongnam-dong, Seo-gu, Incheon, Korea (New Address System : 199, Geonji-ro, Seo-gu, Incheon,
Korea) |
|
Building |
|
|
Zip Code |
404-220 |
|
Tel |
+82-32-571-7498 |
|
Fax |
+82-32-571-7497 |
|
E-mail |
kisco@kyungin.co.kr |
|
Website |
www.kyungin.co.kr |
|
Trading Address |
112-31, Yeomchang-dong, Gangseo-gu, Seoul, Korea |
|
Tel |
+82-2-3665-4001 |
|
Fax |
+82-2-3660-8539 |
|
Other Address-Siheung Factory |
1Ra-706, Sihwa Industrial Complex, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-499-4020 |
|
Fax |
+82-31-499-2155 |
|
Other Address-Ansan Factory |
785-7, Wonsi-dong, Danwon-gu, Ansan-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-491-0111 |
|
Fax |
+82-31-495-3521 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Synthetic Colouring Matter, Tanning Materials
and Other Coloring Agents |
|
Main Business |
Reactive Dyestuffs, Disperse Dyestuffs, Acid Dyestuffs,
Direct Dyestuffs, Fluorescent Dyestuffs, Solvent Dyestuffs |
|
Sub Business |
Food, Food
Additives, Ginseng Products |
|
Established (mm/dd/yyyy) |
10/14/1977 |
The Subject owns
the premises of registered address/ Factory(4,826.0㎡), Siheung Factory(6,694㎡) and Ansan
Factory (5,600㎡).
Detailed Products
|
Activity |
Detailed
Products (UNSPSC) |
|
Sell |
Dyes(12171500) -Colorants |
|
Sell |
Reactives (Bifunctional, Vinylsulfone) |
|
Sell |
Disperse(Synolon Dyes, Papilion Dyes) |
|
Sell |
Direct(Fast yellow, Black) |
|
Sell |
Acid(Syno Acid Dyestuffs) |
|
Sell |
For Leather(Brown, Black, Others) |
|
Sell |
OBA (Cotton & Rayon, Nylon, Pulp & Paper,
Detergent, Polyester) |
|
Sell |
Solvent Dyes |
|
Buy |
P-Base |
|
Buy |
H-ACID |
CEO’s
|
Name |
Cho Sung-Yong |
|
Address |
- |
|
Date of Birth |
11/04/1968 |
|
Title |
Vice President
& CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
20,198,182,500 |
|||||||||||||||||||||||||||
|
Employees |
431 |
|||||||||||||||||||||||||||
|
Formation |
Listed Company
(Korea Stock Exchange : 012610 ) as of 10/05/1995 Foreign Direct Investment Corporation |
|||||||||||||||||||||||||||
|
Bank Details |
Industrial
Bank of Korea-Youngdungpo Branch Citibank,
Korea-Youngdungpo Branch Shinhan Bank |
|||||||||||||||||||||||||||
|
Corporate
Registered No. |
120111-0005703 |
|||||||||||||||||||||||||||
|
Business
Registered No. |
137-81-00562 |
|||||||||||||||||||||||||||
|
Permit &
Licenses |
05/31/1995 ISO
9002 11/30/1997 ISO
14001 Int’l Trade
No.: 860477 |
|||||||||||||||||||||||||||
|
Shareholder
Position |
|
|||||||||||||||||||||||||||
|
Company
History |
10/1971
Established Syno Chemical Industrial Co., Ltd. 08/1976
Founded Samjung Industrial Co., Ltd. 10/1976 Renamed
Syno Chemical Industrial Co., Ltd. to Kyung-In Chemical Co., Ltd. 10/1977
Changed Kyung-In Chemical Co., Ltd. to Kyung-In Synthetic Corporation (KISCO) 01/1978
Changed Samjung Industrial Co., Ltd. to Kyung-In Synthetic Co., Ltd. (KISC) 01/1978 Kim Dong-Gil
inaugurated as chairman of the board of directors 06/1980
Dedicated KISCO's Seoul office building and the Dyestuff Research and
Development Institute 03/1983 KISCO
installed a spray dryer for the first time in Korea. 08/1984 KISCO
designated as an outstanding small and medium-sized industrial firm by Korea
Industrial Research Institute 09/1984
Dedicated the Ansan Factory of KISC 11/1987 KISCO
awarded US$5 Million Export Tower from the government and the Prime Minister
Award 12/1987 KISCO
presented the Best Industry Award (at the award ceremony of the first
National Science Award) 02/1988
Dedicated the expanded Ansan Factory of KISC 04/1988 KISC
signed a technical cooperation agreement with Showa Kako Corporation of
Japan. 10/1988
KISCO'S Dyestuff Institute designated by the government as a research
institute whose workers are exempted from the active military service 11/1988 KISCO
received the US$10 Million Export Tower 12/1988
KISCO's new chemical product registered with Japanese government according to
Japan'schemical substance control law. 08/1989 KISCO
acquired Samwon Chemical Industrial Co., Ltd. 10/1989 KISCO
dedicated low-cost apartments for the employees in Inchon; KISC built
low-cost apartments for the employees in Ansan 11/1989 KISC
received the US$5 Million Export Tower 12/1989
Dedicated the expanded Seoul office of KISCO 08/1992 KISC
acquired equity of Rachada Chemicals Co., Ltd. based in Thailand 11/1992
Founded Eastwell Co., Ltd. 12/1994 KISCO
received the 12th Venture Business Award 05/1995 KISCO
acquired ISO 9002 Quality Assurance Certificate from Lloyd's Register Q.A. of
the United Kingdom 07/1995 KISCO
awarded the Korea Textile Grand Prize in the Dyestuff and Pigment Division 10/1995 KISCO
stocks listed on the Korea Stock Exchange (Paid-in capital: 6.5 billion won) 04/1996 KISCO
acquired equity of Namo Interactive Inc. 06/1996 KISCO
won Textile Industry Grand Award in Dyestuff and Pigment Division 03/1997 KISCO
received a citation from the West Inchon Tax Office on Taxation Day. 05/1997 KISCO
received a citation from the Prime Minister on Labor Day. 05/1997 KISCO
established Turkey joint ventures Kimsoy Chemical Industries, Inc. and Kimsoy
Exim, Inc. 05/1997 KISCO
established United States joint-venture KISCO USA, Inc. 06/1997 KISCO
signed a Strategic Alliance Agreement with Sumitomo Chemical Co., Ltd. of
Japan for overall cooperation in
dyestuff technology and production 06/1997 KISCO
established Joint Ventures PAPITECH.CO., Ltd. 11/1997 KISCO
received Bronze Tower Medal on Export Award Day. 12/1997 KISCO
received ISO 14001 (KSA QA) 08/1998 KISCO
signed the sale contract for Disperse dyestuffs with Ciba-Geigy of
Switzerland. 12/1998 KISC
merged into KISCO. 07/1999 KISCO
was admitted to the membership of ETAD 07/1999 KISCO
launched in an environmental business (Green Systems Engineering Services) 05/2000 KISCO
made the investment into YangWoo corporation 01/23/2013
Acquired EASTWELL CO., Ltd.(110111-0900525) |
Management
|
Job
Description |
Title |
Name |
Nationality |
Date of Birth |
Education
& Career |
|
Chairman |
Mr. |
Kim Heung-Joon |
Korean |
1967.06.14 |
Hanyang
University, Korea |
|
Honored
Chairman |
Mr. |
Kim Dong-Kil |
Korean |
1938.03.03 |
Seoul National
University, Korea |
|
Vice President
& CEO |
Mr. |
Cho Sung-Yong |
Korean |
1968.11.04 |
Seoul National
University, Korea |
|
Director |
Mr. |
Lee Hee-Bok |
Korean |
1964.11 |
Chungnam
National University, Korea |
|
Outside
Director |
Mr. |
Chang Sang-Jae |
Korean |
1936.10.10 |
Seoul National
University, Korea |
|
Outside
Director |
Mr. |
Kim Jeong-Hong |
Korean |
1937.08.08 |
Seoul National
University, Korea |
|
Auditor |
Mr. |
Kim Byung-Jin |
Korean |
1970.03 |
Hanyang
University, Korea |
|
Year / Unit :
KRW |
Sales |
Assets |
Net Income |
|
183,106,757,457 |
274,570,962,783 |
12,327,176,732 |
|
|
(*)2012 |
141,304,458,809 |
241,045,607,999 |
4,475,440,855 |
|
(*)2011 |
128,707,611,144 |
245,825,939,561 |
2,788,642,280 |
|
(*)2010 |
149,007,815,759 |
250,809,033,564 |
3,367,162,134 |
|
2009 |
129,006,385,709 |
218,551,978,762 |
11,569,545,044 |
|
2008 |
125,462,289,226 |
163,333,430,906 |
12,873,680,246 |
|
2007 |
93,016,593,682 |
120,854,546,914 |
4,246,011,551 |
|
2006 |
84,978,240,253 |
95,503,927,506 |
883,371,290 |
|
2005 |
88,050,292,316 |
100,565,451,354 |
2,533,411,044 |
|
2004 |
95,832,343,219 |
92,524,130,882 |
4,301,525,438 |
|
2003 |
129,006,385,709 |
218,551,978,762 |
11,569,545,044 |
(*)Figures are based on the K-IFRS
Accounting System.
Financial Description
|
Authorized
Capital(KRW) |
25,000,000,000 |
|
Paid-Up
Capital(KRW) |
20,198,182,500 |
|
Total Issues
Shares |
40,396,365 |
|
Balance Sheet |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Total
Assets |
274,570,962,783 |
241,045,607,999 |
245,825,939,561 |
|
Current
Assets |
123,143,649,720 |
94,723,926,543 |
99,039,936,815 |
|
Cash
& Cash Equivalents |
4,827,046,722 |
5,366,236,825 |
1,889,398,488 |
|
Current
Financial Instruments |
86,839,759 |
86,839,759 |
86,839,759 |
|
Trade
Receivables & Other Receivables |
53,318,598,078 |
48,074,570,425 |
43,619,403,706 |
|
Inventories |
60,685,131,900 |
38,724,208,144 |
51,423,188,073 |
|
Other
Current Financial Instruments |
893,941,602 |
702,509,901 |
550,768,276 |
|
Other
Current Non-Financial Instruments |
3,332,091,659 |
1,769,561,489 |
1,470,338,513 |
|
Non-Current
Assets |
151,427,313,063 |
146,321,681,456 |
146,786,002,746 |
|
Trade
Receivables |
6,776,932,202 |
2,908,467,584 |
0 |
|
Non-Current
Financial Instruments |
45,252,357 |
53,920,793 |
105,395,514 |
|
Marketable
Financial Instruments |
825,485,956 |
836,927,002 |
917,448,292 |
|
Held-to-Maturity
Financial Assets |
0 |
0 |
25,420,000 |
|
Investment_Related
Companies |
63,066,544,266 |
65,887,314,380 |
67,519,815,173 |
|
Tangibles |
72,282,758,959 |
67,259,638,296 |
69,431,560,262 |
|
Investment_Real
Estates |
1,866,383,901 |
2,264,253,629 |
1,673,379,773 |
|
Intangibles |
2,047,582,722 |
1,290,847,222 |
968,875,032 |
|
Other
Non-Current Financial Instruments |
4,516,372,700 |
5,820,312,550 |
6,144,108,700 |
|
Total
Liabilities |
96,496,450,130 |
78,932,782,614 |
86,943,666,685 |
|
Current
Liabilities |
88,530,619,118 |
70,551,007,697 |
64,682,273,575 |
|
Trade
Payables & Other Payables |
19,935,349,112 |
10,625,838,134 |
11,456,888,957 |
|
Short-Term
Borrowings |
60,151,839,975 |
46,608,295,685 |
46,049,234,377 |
|
Current
Portion of Long-Term Debts |
600,000,000 |
9,559,375,000 |
3,712,900,000 |
|
Other
Current Financial Debts |
3,072,637,158 |
2,610,279,868 |
2,890,756,758 |
|
Accrued
Income Tax |
3,818,744,996 |
908,701,610 |
90,765,335 |
|
Other
Current Liabilities |
952,047,877 |
238,517,400 |
481,728,148 |
|
Non-Current
Liabilities |
7,965,831,012 |
8,381,774,917 |
22,261,393,110 |
|
Long-Term
Borrowings |
0 |
0 |
13,856,450,000 |
|
Deferred
Income Tax Credit |
7,965,831,012 |
8,381,774,917 |
8,404,943,110 |
|
Capital
Stock |
20,198,182,500 |
18,750,000,000 |
18,750,000,000 |
|
Capital
Surplus |
34,562,751,252 |
27,926,478,099 |
27,926,478,099 |
|
Others |
-3,970,197,115 |
-1,325,335,014 |
-1,735,533,275 |
|
Installments |
-108,120,269 |
-99,040,253 |
-288,953,646 |
|
Profit
Surplus |
127,391,896,285 |
116,860,722,553 |
114,230,281,698 |
|
Total
Equity |
178,074,512,653 |
162,112,825,385 |
158,882,272,876 |
|
Liab.
& Shareholder’s Equity |
274,570,962,783 |
241,045,607,999 |
245,825,939,561 |
|
Income Statement |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of 12/31/2012 |
As of
12/31/2011 |
|
Sales |
183,106,757,457 |
141,304,458,809 |
128,707,611,144 |
|
Cost
of Sold Goods |
147,883,856,030 |
120,613,769,195 |
109,831,812,699 |
|
Gross
Profit |
35,222,901,427 |
20,690,689,614 |
18,875,798,445 |
|
Selling
& Admin. Expenses |
23,144,837,531 |
17,683,855,960 |
16,999,541,036 |
|
Operating
Income |
12,078,063,896 |
3,006,833,654 |
1,876,257,409 |
|
Finance
Income |
888,703,650 |
1,271,703,544 |
2,352,691,278 |
|
Finance
Expenses |
1,313,166,956 |
2,492,660,097 |
2,415,785,356 |
|
Non-Operating
Income |
7,497,809,260 |
6,354,232,378 |
3,945,518,464 |
|
Non-Operating
Expenses |
2,686,656,992 |
2,800,522,824 |
2,829,726,858 |
|
Income
Before Taxes |
16,464,752,858 |
5,339,586,655 |
2,928,954,937 |
|
Income
Taxes Expenses |
4,137,576,126 |
864,145,800 |
140,312,657 |
|
Net
Income |
12,327,176,732 |
4,475,440,855 |
2,788,642,280 |
|
Cash Flows |
|||
|
Unit : Korean
Won |
As of
12/31/2013 |
As of
12/31/2012 |
As of
12/31/2011 |
|
Operating
Activities Cash Flows |
-1,601,345,973 |
14,914,670,469 |
10,022,891,410 |
|
Net
Income |
12,327,176,732 |
4,475,440,855 |
2,788,642,280 |
|
Adjustment |
-11,116,863,729 |
11,562,555,890 |
7,604,414,312 |
|
Interests
Received |
81,885,199 |
46,356,869 |
55,025,011 |
|
Dividends
Received |
656,961,220 |
1,069,966,142 |
2,114,591,858 |
|
Interests
Paid |
-1,354,325,470 |
-2,116,706,252 |
-2,415,196,663 |
|
Income
Taxes |
-2,196,179,925 |
-122,943,035 |
-124,585,388 |
|
Cash
Flows from Investing |
-515,259,633 |
-2,384,504,900 |
-4,871,099,509 |
|
Cash
Flows from Financing |
1,570,496,735 |
-8,998,838,692 |
-5,585,049,494 |
|
Increase/Decrease
in Cash |
-546,108,871 |
3,531,326,877 |
-433,257,593 |
|
Cash
at the Beginning of Year |
5,366,236,825 |
1,889,398,488 |
2,315,063,261 |
|
Cash
at the End of Year |
4,827,046,722 |
5,366,236,825 |
1,889,398,488 |
Products,
Technologies, Services Description
|
Main Products
& Services |
Manufacturer
of Reactive dyes for cotton, rayon & wool, Disperse dyes for polyester,
acetate, triacetate & micro fiber, O.B.A. for paper, pulp, cotton,
polyester, nylon, acrylic & detergent, Acid dyes for nylon, silk, wool
& leather, Direct dyes for paper, leather & cotton, Solvent dyes for
polyester fiber, plastic, resin, master batch, Ink for color ink jet
printer." Brand Name : Synozol |
|
Detailed
Products Spec. |
|
|
Technologies
Acquired |
|
Trade Partners &
Competitors
|
Suppliers |
|
|
Customers |
CIBA SPECIALTY
CHEMICALS INC EASTWELL CO., LTD.(110111-0900525) YANGWOO CO.,
LTD.(115911-0018773) |
|
Competitors |
OH YOUNG INDUSTRIAL CO., LTD.(115611-0001071) RIFA INDUSTRIAL CO., LTD.(110111-0018138) M.DOHMENKOREA, LTD.(110111-2189953) |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
JMC CO.,
LTD.(124611-0284494) (79.52%held by the subject company) WISE CHEM CO.,
LTD.(KOREA) (48.13% held by the subject company) DAITO-KISCO
CORPORTION(120111-0368466) (50.00% held
by the subject company) KISCO SHANGHAI(CHINA) (100.00% held
by the subject company) LIANYUNGANG
KISCO(CHINA) (100.00% held
by the subject company) KISCO USA(USA) (35.00% held
by the subject company) KIMSOY
CHEMICAL(TURKEY) (50.00% held
by the subject company) KIMSOY
EXIM(TURKEY) (50.00% held
by the subject company) RACHADA
CHEMICAL(THAILAND) (14.00% held
by the subject company) NAMO IT(THAILAND) (49.00% held
by the subject company) KISCO INDIA (97.00% held by the subject company) KIMSOY ADANA(TURKEY) (50.00% held by the subject company) RACHADA CHEMICAL (14.00% held
by the subject company) |
|
Overseas
Office |
|
|
Liaison Office |
|
|
Overseas
Branch |
|
|
Joint Venture |
|
|
Subsidiary |
JMC CO.,
LTD.(124611-0284494) (83.50% held
by the subject company) WISE CHEM CO.,
LTD.(KOREA) (48.13% held by the subject company) LIANYUNGANG
KISCO CHEMICAL CO., LTD. (100.0% held
by the Subject Company) KISCO SHANGHAI (100.0% held
by the Subject Company) KISCO INDIA PRIVATE LIMITED (97.00% held
by the Subject Company) |
|
Corporate
Ownership |
|
|
Major
Shareholders |
|
|
Cooperative
Enterprise |
SUMITOMO
CHEMICAL-JAPAN T.H INT-USA -Insured
Company GREEN NON-LIFE INSURANCE CO., LTD.(110111-0007082) |
Sales by Region
(Activity & Markets)
|
Sales/ Unit :
KRW |
03/2010 |
2009 |
2008 |
|
Export |
22,637,000,000 |
81,251,470,091 |
81,456,569,665 |
|
Domestic |
11,916,000,000 |
47,754,915,618 |
44,005,719,561 |
|
Total |
34,553,000,000 |
129,006,385,709 |
125,462,289,226 |
The subject deals
with the companies in Pakistan, USA, Asian Countries and European Countries.
Court Action
No.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.86 |
|
|
1 |
Rs.98.82 |
|
Euro |
1 |
Rs.80.71 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
PDT |
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.