MIRA INFORM REPORT

 

 

Report No. :

336584

Report Date :

21.08.2015

 

IDENTIFICATION DETAILS

 

Name :

FIRST VIETNAM JSC (1)

 

 

Registered Office :

Thien Son Plaza Hoan Kiem 2 Chuong Duong Do St Chuong Duong Ward, Hoan Kiem Dist, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

2014

 

 

Date of Incorporation :

01.08.2011

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Trader of Consumer Products.

 

 

No. of Employees :

1,400

 

 

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, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

Vietnam

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

VIETNAM - ECONOMIC OVERVIEW

 

Vietnam is a densely populated developing country that has been transitioning from the rigidities of a centrally-planned economy since 1986. Agriculture's share of economic output has shrunk from about 25% in 2000 to 18% in 2014, while industry's share increased from 36% to 38% in the same period. State-owned enterprises now account for only about 40% of GDP.

Vietnamese authorities have reaffirmed their commitment to economic modernization and a more open economy. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries. Vietnam joined the 12-nation Trans-Pacific Partnership free trade agreement negotiations in 2010.

Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. Between 2008 and 2011, Vietnam's managed currency, the dong, was devalued in excess of 20%, but its value has remained relatively stable since then. Poverty has declined significantly, and Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one million people every year.

In February 2011, the government shifted from policies aimed at achieving a high rate of economic growth, which had stoked inflation, to those aimed at stabilizing the economy, through tighter monetary and fiscal control. Although Vietnam unveiled a broad, "three pillar" economic reform program in early 2012, proposing to restructure public investment, state-owned enterprises, and the banking sector, Hanoi’s progress in meeting its goals is lagging behind its proposed schedule. Vietnam's economy continues to face challenges from an undercapitalized banking sector and non-performing loans weigh heavily on banks and businesses.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

FIRST VIETNAM JSC (1)

Address

:

Thien Son Plaza Hoan Kiem 2 Chuong Duong Do St Chuong Duong Ward, Hoan Kiem Dist, Hanoi

Country

:

Vietnam

Phone (S)

:

[+84] 4-39273738

Facsimile

:

[+84] 4-39273777

Email

:

fivimarthn@hn.vnn.vn

Website

:

http://www.fivimart.com.vn

Primary Business Activity

:

Trader

Key Industry

:

Consumer Products

 

Key Facts

Registered Legal Address

:

Thien Son Plaza Hoan Kiem 2 Chuong Duong Do St Chuong Duong Ward, Hoan Kiem Dist, Hanoi

Operational Address

:

Thien Son Plaza Hoan Kiem 2 Chuong Duong Do St Chuong Duong Ward, Hoan Kiem Dist, Hanoi

Trading Name

:

FIVIMART
FIVIMART SUPERMARKET CHAIN
FIVI JSC

Name History

:

Business Entity Name

Effective Date

NHAT NAM CO LTD

17 Feb, 1997

FIRST VIETNAM JSC

9 Jan, 2001

Issuing Authority

:

DEPARTMENT OF PLANNING & INVESTMENT - Hanoi

License Number

:

0100236312

License Status

:

License exists - Normal.

Legal Form - Category

:

Joint Stock Company

Legal Form

:

Joint Stock Company

Legal Form - Abbreviation

:

JSC

Operational Status of Business

:

Normal

Date of Registration

:

1 Aug, 2011

Employees

:

1,400

Capital

:

US$ 9,489,308

PREVIOUS BUSINESS LICENSE/S

 

License Date

License No.

17 Feb, 1997

051506

9 Jan, 2001

0103000214

Note

:

1) Legal status of the English corporate name
The English name of the Subject Business Entity (SBE) is a randomly selected translation / transliteration made by the owners of the SBE. It is not a registered English corporate name, but simply a translation / transliteration of the local language name.

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Dang Thien Tan

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Ms. Nguyen Boi Huong

Vietnamese

Chief Accountant

-

2

Ms. Dang Thi Dan Tam

Vietnamese

Managing Director

-

3

Mr. Nguyen Chi Thanh

Vietnamese

Managing Director

-

 

Management Details - 1

Personal Unique Identifier

:

MI03801365

Name

:

Ms. Nguyen Boi Huong

 

Management Details - 2

Personal Unique Identifier

:

MI02470482

Name

:

Ms. Dang Thi Dan Tam

Date of Birth

:

1972

 

Management Details - 3

Personal Unique Identifier

:

MI02470426

Name

:

Mr. Nguyen Chi Thanh

Date of Birth

:

1961

 

LOCAL BRANCHES & MANAGEMENT

 

Branch

:

FIRST VIETNAM JSC - HOAN KIEM DIST, HANOI

Branch Address

:

27 Ly Thai To St, Hoan Kiem Dist, Hanoi

 

Branch

:

FIRST VIETNAM JSC - HAI BA TRUNG DIST, HANOI

Branch Address

:

163A Dai La St, Hai Ba Trung Dist, Hanoi

 

Branch

:

FIRST VIETNAM JSC - TAY HO, HANOI

Branch Address

:

51 Xuan Dieu St, Tay Ho, Hanoi

 

Branch

:

FIRST VIETNAM JSC - CAU GIAY DIST, HANOI

Branch Address

:

94 Hoang Quoc Viet St, Cau Giay Dist, Hanoi

 

Branch

:

FIRST VIETNAM JSC - BA DINH, HANOI

Branch Address

:

281 Doi Can St, Ba Dinh, Hanoi

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03801276

Name

:

Mr. Dang Thien Tan

Date of Birth

:

1958

2

 

 

Personal Unique Identifier

:

MI02470426

Name

:

Mr. Nguyen Chi Thanh

Date of Birth

:

1961

3

 

 

Personal Unique Identifier

:

MI02470482

Name

:

Ms. Dang Thi Dan Tam

Date of Birth

:

1972

 

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing FIRST VIETNAM JSC's reputation within the respective industry failed to reveal any adverse information.

 

NEGA-SCAN - ADVERSE DATA MONITORING

 

DISHONORED CHECKS

 

No Record Found

 

 

DEBT

 

No Record Found

 

 

CIVIL LITIGATION

 

No Record Found

 

 

PERFORMANCE DEFAULTS

 

No Record Found

 

 

ADVERSE LOCAL MEDIA COVERAGE / ADVERSE FILING HISTORY

 

No Record Found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

CAPITAL (Currency: VND - Vietnam Dong)

 

Authorized Capital

:

₫ 203,688,000,000

Paid-up Capital

:

₫ 203,688,000,000

 

Date

Authorized Capital - History

17 Feb, 1997

48,825,000,000

2012

97,650,000,000

2015

203,688,000,000

 

SHAREHOLDERS

 

Total number of shareholders

:

n/a

Total number of shares

:

n/a

 

Currency

:

VND - Vietnam Dong

 

No.

Shareholders

Country

Shares

Number

Amount (VND)

%

1

UNDISCLOSED SHAREHOLDERS

n/a

n/a

203,647,262,400

99.98

2

Mr. Dan Thi Dan Tam

Vietnam

n/a

20,368,800

0.01

3

Mr. Dang Thien Tan

Vietnam

n/a

20,368,800

0.01

Total

n/a

203,688,000,000

100.00

 

 

Based on corporate statutory laws / regulations in Vietnam, there is no requirement for public disclosure of Shareholders. In this case, the Shareholders information was supplied by the Subject Business Entity.
However in the absence of data normally obtained from local Statutory Authorities, it is not possible to verify the accuracy of data supplied and hence is provided as reference ONLY.

 

 

PAYMENT INFORMATION

 

DOMESTIC SALES & PURCHASES

 

Annual Sales Analysis

Percentage

Domestic Sales

100%

International Sales (Export)

0%

 

 

Annual Purchases Analysis

Percentage

Local Purchases

60%

Imports

40%

 

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Purchasing

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Import

Letter of Credit (At-sight)

Telegraphic Transfer (T/T) - Executed at time of transaction

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

N/a

 

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2012 Annual  

43,248,821

21,026,322

45,715

2013 Annual  

43,001,618

22,471,025

22,477

2014 Annual  

43,717,863

24,978,386

-944,920

 

Sales Trend – Analysis

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

-

-

-

-

-

-

-

-

http://www.asiancredit.com/Manage/image/down_arrow_04.gif

http://www.asiancredit.com/Manage/image/up_arrow_04.gif

 

FINANCIALS - SUMMARY (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2009 Annual

22,451,052

13,159,185

8,576

 

FINANCIAL STATEMENT - DETAILED

 

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Current Assets(*)

305,394,000,000

334,794,000,000

348,215,000,000

Non Current Assets(*)

132,472,000,000

139,077,000,000

179,918,000,000

Non Current Liabilities(*)

3,713,000,000

15,639,000,000

37,782,000,000

Share Capital(*)

97,650,000,000

97,650,000,000

97,650,000,000

Other long term assets 

Total Assets(*)

437,866,000,000

473,871,000,000

528,133,000,000

Total Liabilities(*)

337,308,000,000

373,168,000,000

447,463,000,000

Current Liabilities(*)

333,595,000,000

357,529,000,000

409,681,000,000

Long term liabilities 

Shareholders Funds(*)

100,558,000,000

100,703,000,000

80,670,000,000

 

Current assets & short term investments

305,394,000,000

334,794,000,000

348,215,000,000

Cash & cash equivalents

6,963,000,000

2,040,000,000

3,867,000,000

Cash

6,963,000,000

2,040,000,000

3,867,000,000

Accounts receivable

10,585,000,000

11,149,000,000

13,680,000,000

Accounts receivable trade

7,541,000,000

7,737,000,000

8,497,000,000

Trade prepayment

-

1,529,000,000

3,562,000,000

Other receivables

3,044,000,000

1,883,000,000

1,621,000,000

Inventories

285,148,000,000

312,344,000,000

322,246,000,000

Other short term asset

2,698,000,000

9,261,000,000

8,422,000,000

Prepaid expenses

-

7,808,000,000

6,636,000,000

VAT deductible

1,897,000,000

924,000,000

-

Other tax receivables

801,000,000

529,000,000

1,786,000,000

Long term aseets

132,472,000,000

139,077,000,000

179,918,000,000

Fixed assets

70,088,000,000

84,620,000,000

117,305,000,000

Tangible fixed assets

70,088,000,000

84,432,000,000

115,687,000,000

I. Cost

115,037,000,000

138,306,000,000

174,218,000,000

I. Accumulated depreciation

44,949,000,000

53,874,000,000

58,531,000,000

Intangible fixed assets

-

77,000,000

438,000,000

II. Cost

-

93,000,000

501,000,000

II. Accumulated depreciation

-

16,000,000

63,000,000

Construction in progress

-

111,000,000

1,180,000,000

Long term investments

42,162,000,000

33,300,000,000

33,300,000,000

Invest to joint venture company

33,300,000,000

33,300,000,000

33,300,000,000

Other long term investments

8,862,000,000

-

-

I. Other long term assets

20,222,000,000

21,157,000,000

29,313,000,000

Long term prepayments

13,643,000,000

14,612,000,000

16,704,000,000

II. Other long term assets

6,579,000,000

6,545,000,000

12,609,000,000

Total assets

437,866,000,000

473,871,000,000

528,133,000,000

Liabilities

337,308,000,000

373,168,000,000

447,463,000,000

Current liabilities

333,595,000,000

357,529,000,000

409,681,000,000

Short term borrowings

54,680,000,000

73,389,000,000

116,246,000,000

Accounts payables-trade

275,614,000,000

282,616,000,000

291,200,000,000

Advances from customers

-

178,000,000

270,000,000

Taxes and payable to state budget

37,000,000

4,000,000

125,000,000

Payable to employees

3,253,000,000

1,322,000,000

1,839,000,000

Other payables

11,000,000

20,000,000

1,000,000

Long term liabilities

3,713,000,000

15,639,000,000

37,782,000,000

Long term borrowings

3,713,000,000

15,639,000,000

37,782,000,000

Owners equity

100,558,000,000

100,703,000,000

80,670,000,000

Business capital

97,650,000,000

97,650,000,000

97,650,000,000

Retained earnings

2,908,000,000

3,053,000,000

(16,980,000,000)

Total resources

437,866,000,000

473,871,000,000

528,133,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Turnover(*)

900,642,000,000

906,822,000,000

924,353,000,000

Profit (Loss) Before Tax(*)

1,269,000,000

631,000,000

(19,979,000,000)

Profit After Tax attributable to Shareholders(*)

952,000,000

474,000,000

(19,979,000,000)

 

Gross sales

900,642,000,000

906,822,000,000

924,353,000,000

Net income

900,642,000,000

906,822,000,000

924,353,000,000

Cost of goods sold

780,683,000,000

785,528,000,000

783,561,000,000

Gross margin

119,959,000,000

121,294,000,000

140,792,000,000

Income from financial activities

193,000,000

136,000,000

82,000,000

Expenses from financial activities

5,189,000,000

6,715,000,000

9,026,000,000

In which: Interest expenses

5,189,000,000

5,069,000,000

7,329,000,000

General & administration expenses

114,459,000,000

131,684,000,000

161,641,000,000

Net income from operating activities

504,000,000

(16,969,000,000)

(29,793,000,000)

Extraordinary income

14,992,000,000

27,423,000,000

10,426,000,000

Extraordinary expenses

14,227,000,000

9,823,000,000

612,000,000

Extraordinary gains

765,000,000

17,600,000,000

98,140,000,000

Net profit before tax

1,269,000,000

631,000,000

(19,979,000,000)

Income tax

317,000,000

157,000,000

-

Net profit after tax

952,000,000

474,000,000

(19,979,000,000)

Note: (*)

Financial Highlights

 

Financial Ratios

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Growth % 

Year-on-Year Growth

-

0.69

1.93

Profitability 

Profit Margin (%)

0.11

0.05

(2.16)

Return on Equity (%)

0.95

0.47

(24.77)

Return on Assets (%)

0.22

0.10

(3.78)

Leverage 

Total Debt Equity (Times)

3.35

3.71

5.55

Current Debt Equity (Times)

3.32

3.55

5.08

Long Term Debt to Equity

0.04

0.16

0.47

Total Asset To Total Equity

4.35

4.71

6.55

Asset Management 

Total Assets Turnover (Times)

2.06

1.91

1.75

Fixed Assets Turnover (Times)

6.80

6.52

5.14

Liquidity 

Current Ratio

0.92

0.94

0.85

Based on the corporate laws of Vietnam, legal entities which are a Joint Stock Company are not required to make public disclosure of their annual financials. Although basic financials were obtained for reference.

 

 

FOREIGN EXCHANGE RATES

 

Today's Exchange rate

:

1.00 VND
Vietnam Dong

=

0.000047 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Report Details

Country

:

Vietnam

Business Entity Name

:

FIRST VIETNAM JSC

Primary Business Activity

:

Trader

Primary Industry

:

Consumer Products

Office Contact Details

Operating Address

:

Thien Son Plaza Hoan Kiem 2 Chuong Duong Do St Chuong Duong Ward, Hoan Kiem Dist, Hanoi

Tel

:

[+84] 4-39273738

Fax

:

[+84] 4-39273777

Email

:

fivimarthn@hn.vnn.vn

Website Details

Website

:

http://www.fivimart.com.vn

Country of Registration

:

Vietnam

Ownership Type

:

Registered ownership by Subject Business Entity

Tax / VAT Details

Tax Issuing Authority

:

Ministry of Finance

Local Name Used

:

Gia Trj Gia Tang (Value Added Tax)

Acronym

:

GTGT / VAT

GTGT / VAT Number

:

0100236312

Date of Issuance

:

11 Jun, 1998

 

 

Primary Products

Products / Materials / Services Description

Activity

Beverages

Importing, Trading

Breads

Importing, Trading

Breakfast cereals

Importing, Trading

Consumer products

Importing, Trading

Food products

Importing, Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Bread and other bakery products, other than frozen

2051

Importing, Trading

Cereal breakfast foods

2043

Importing, Trading

Electrical Appliances

5064

Importing, Trading

Electro-mechanical household type appliances, nspf, and electro-thermic appliances, nspf, and parts & accessories, nspf

3634

Importing, Trading

Food and Kindred Products

2000

Importing, Trading

Food products, nspf

2099

Importing, Trading

Frozen Bakery Prods Exc Bread

2053

Importing, Trading

Groceries/Related Prdts, NEC

5149

Importing, Trading

Grocery Stores

5411

Service

Malt beverages

2082

Importing, Trading

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

 

Product/Service Description

Code

Activity

Assembly and distribution services of gen commodities

9958

Service

Beverages, spirits & vinegar

2200

Importing, Trading

Bread

1905901070

Importing, Trading

Bread, biscuits and other similar baked products

1905901080

Importing, Trading

Bread, pastry cakes etc: comm wafers, empty caps etc

1905

Importing, Trading

Buckwheat, millet & canary seed; cereals nesoi

1008

Importing, Trading

Ceramic tableware etc. of porcelain or china

6911

Importing, Trading

Cereals

1000

Importing, Trading

Cereals

1008900040

Importing, Trading

Food preparations

2106

Importing, Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

 

Products / Materials / Services Description

Ranking

Activity

Household appliances

Primary

Importing, Trading

Sanitary napkins

Primary

Importing, Trading

Tableware

Primary

Importing, Trading

Supermarkets

Secondary

Service

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of FIRST VIETNAM JSC is Trading - Finished products.

Key products include :

Beverages

Breads

Breakfast cereals

Consumer products

Food products

Household appliances

Sanitary napkins

Tableware

Supplementary Business

In addition to the core business, FIRST VIETNAM JSC also is engaged in the following areas of business:

Importing

Importing - Finished products

Service

Specialized professional services, including:

Supermarkets

 

 

BANK DETAILS

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM

Global Identifier

:

P1072025

Branch

:

Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM, CHUONG DUONG

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

MILITARY COMMERCIAL JOINT STOCK BANK

Global Identifier

:

P0387295

Branch

:

Dong Da,Hanoi

Branch Address

:

MILITARY COMMERCIAL JOINT STOCK BANK, DIEN BIEN PHU

SWIFT Code

:

MSCBVNVX

 

Bank Name

:

VIETNAM EXPORT IMPORT COMMERCIAL JOINT STOCK BANK

Global Identifier

:

32408823

Branch

:

District 1,Ho Chi Minh

Branch Address

:

Hanoi

SWIFT Code

:

EBVIVNVX

 

INTERNATIONAL TRADE - Activity & Markets

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing

Europe

Medium

Importing

 

OFFICE & FACILITIES

 

The following information relates to the Business Entity's office as listed above:

Name

:

FIRST VIETNAM JSC - HOAN KIEM DIST, HANOI

Primary Use

:

Office & Administration facilities

Address

:

Thien Son Plaza Hoan Kiem 2 Chuong Duong Do St Chuong Duong Ward, Hoan Kiem Dist, Hanoi

Country

:

Vietnam

Status

:

Operational

 

COMPANY HISTORY

 

Date

Details

1997 - Feb

Established as Limited Liability Company.

2001 - Jan

Changed formation into Joint Stock Company.

 

PREVIOUS CONTACT DETAILS

 

Company Address

:

17 Tong Dan Trang Tien Ward, Hoan Kiem, Hanoi

Date of Relocation

:

2001

 

Company Address

:

15 A Hang Cot St Hang Ma Ward, Hoan Kiem Dist, Hanoi

 

 

NOTES & COMMENTS

 

N/a

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.65.23

UK Pound

1

Rs.102.20

Euro

1

Rs.72.57

 

 

INFORMATION DETAILS

 

Analysis Done by :

TRI

 

 

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.