MIRA INFORM REPORT

 

 

Report No. :

308461

Report Date :

24.02.2015

 

IDENTIFICATION DETAILS

 

Name :

ABS INDIA PRIVATE LIMITED (SINGAPORE BRANCH)

 

 

Registered Office :

133, New Bridge Road, 25 - 08, Chinatown Point, 059413

 

 

Country :

Singapore

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

14.09.2005

 

 

Com. Reg. No.:

T05FC6753-J

 

 

Legal Form :

Foreign

 

 

Line of Business :

Communication Solutions Provider

 

 

No. of Employees :

Not Available

 

 

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 :

Slow

 

 

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 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Singapore

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SINGAPORE - ECONOMIC OVERVIEW

 

Singapore has a highly developed and successful free-market economy. It enjoys a remarkably open and corruption-free environment, stable prices, and a per capita GDP higher than that of most developed countries. The economy depends heavily on exports, particularly in consumer electronics, information technology products, pharmaceuticals, and on a growing financial services sector. The economy contracted 0.6% in 2009 as a result of the global financial crisis, but rebounded 15.1% in 2010, on the strength of renewed exports, before slowing to in 2011-13, largely a result of soft demand for exports during the second European recession. Over the longer term, the government hopes to establish a new growth path that focuses on raising productivity. Singapore has attracted major investments in pharmaceuticals and medical technology production and will continue efforts to establish Singapore as Southeast Asia's financial and high-tech hub.

 

Source : CIA

 

 

EXECUTIVE SUMMARY

 

 

REGISTRATION NO.

:

T05FC6753-J

COMPANY NAME

:

ABS INDIA PRIVATE LIMITED (SINGAPORE BRANCH)

FORMER NAME

:

N/A

INCORPORATION DATE

:

14/09/2005

COMPANY STATUS

:

EXIST

LEGAL FORM

:

FOREIGN

LISTED STATUS

:

NO

REGISTERED ADDRESS

:

133, NEW BRIDGE ROAD, 25 - 08, CHINATOWN POINT, 059413, SINGAPORE.

BUSINESS ADDRESS

:

133, NEW BRIDGE ROAD #25-03/08, CHINATOWN POINT, 059413, SINGAPORE.

TEL.NO.

:

65-65385488

FAX.NO.

:

65-65384673

WEB SITE

:

WWW.ABSINDIA.NET

CONTACT PERSON

:

SUNIL ARORA ( CEO )

PRINCIPAL ACTIVITY

:

COMMUNICATION SOLUTIONS PROVIDER

AUTHORISED CAPITAL

:

INR 150,000,000.00

SALES

:

USD 2,089,290 [2014]

NET WORTH

:

USD 225,898 [2014]

STAFF STRENGTH

:

N/A

LITIGATION

:

CLEAR

FINANCIAL CONDITION

:

STABLE

PAYMENT

:

POOR

MANAGEMENT CAPABILITY

:

AVERAGE

COMMERCIAL RISK

:

LOW

CURRENCY EXPOSURE

:

MODERATE

GENERAL REPUTATION

:

SATISFACTORY

INDUSTRY OUTLOOK

:

MARGINAL GROWTH

 

 

HISTORY/ BACKGROUND

 

The Subject is principally engaged in the (as a / as an) communication solutions provider.

 

Share Capital History

Date

Authorised Shared Capital

Issue & Paid Up Capital

17/02/2015

INR 150,000,000.00

INR 0.00

 

No shareholders was found in our databank at the time of investigation



DIRECTORS

 

DIRECTOR 1

 

Name Of Subject

:

PARSWANATH PADMARAJAIAH JAIN

Address

:

881, ANUGRUHA, 6TH CROSS, 6TH BLOCK, KORAMANGALA, BANGALORE, KARNATAKA, 560095, INDIA.

IC / PP No

:

Z2024341

Nationality

:

INDIAN

Date of Appointment

:

23/05/2002

 

DIRECTOR 2

 

Name Of Subject

:

SUNIL ARORA

Address

:

A1, 126, 3RD MAIN, DEFENCE COLONY, INDIRANAGAR, BANGALORE, KARNATAKA, 560038, INDIA.

IC / PP No

:

Z2351048

Nationality

:

INDIAN

Date of Appointment

:

23/05/2002


MANAGEMENT

 

 

 

1)

Name of Subject

:

SUNIL ARORA

Position

:

CEO

 

 

 

AUDITOR


No Auditor found in our databank

 

COMPANY SECRETARIES

 

1)

Company Secretary

:

LEONG FONG CHYUM

IC / PP No

:

S1836064J

Address

:

74, KOON SENG ROAD, 427012, SINGAPORE.

Remarks

:

AGENT

 

2)

Company Secretary

:

HAMIS BIN TASLIM

IC / PP No

:

S1181853F

Address

:

275, TAMPINES STREET 22, 02-90, 520275, SINGAPORE.

Remarks

:

AGENT

 

 

BANKING

 


No Banker found in our databank.



ENCUMBRANCE (S)


No encumbrance was found in our databank at the time of investigation.

 

 

LITIGATION CHECK AGAINST SUBJECT


* A check has been conducted in our databank againt the Subject whether the subject has been involved in any litigation.

No legal action was found in our databank.

No winding up petition was found in our databank.

 

PAYMENT RECORD

 

 

SOURCES OF RAW MATERIALS:

Local

:

N/A

Overseas

:

N/A


The Subject is a service provider and it does not deal with trade suppliers.


The Subject refused to provide any name of trade/service supplier and we are unable to conduct any trade enquiry. However, from financial historical data we conclude that:

 

OVERALL PAYMENT HABIT

Prompt 0-30 Days

[

]

Good 31-60 Days

[

]

Average 61-90 Days

[

]

Fair 91-120 Days

[

]

Poor >120 Days

[

X

]

 

 

CLIENTELE

 

Local

:

YES

Domestic Markets

:

SINGAPORE

Overseas

:

YES

Export Market

:

ASIA

Credit Term

:

N/A

Payment Mode

:

CHEQUES

 

 

OPERATIONS

 

Services

:

COMMUNICATION SOLUTIONS PROVIDER

 

Branch

:

NO

 

Other Information:


The Subject is principally engaged in the (as a / as an) communication solutions provider.

A Leading Enterprise Communication Solutions Provider, for the Indian Subcontinent (India, Nepal, Bhutan and Maldives) catering to the diverse needs of enterprises across all verticals.

Headquartered in Bangalore, ABS India has a wide presence across the country, with sales and support offices at prime locations.


CURRENT INVESTIGATION

 

Latest fresh investigations carried out on the Subject indicated that:

 

Telephone Number Provided By Client

:

N/A

Current Telephone Number

:

65-65385488

Match

:

N/A

Address Provided by Client

:

133, NEW BRIDGE ROAD, 25-03/08, CHINA TOWN POINT, SINGAPORE 059413

Current Address

:

133, NEW BRIDGE ROAD #25-03/08, CHINATOWN POINT, 059413, SINGAPORE.

Match

:

YES

 

Other Investigations


We contacted one of the staff from the registered office and she provided some information.

She refused to disclose the Subject's number of employees.

FINANCIAL ANALYSIS

 

 

Profitability

Turnover

:

Decreased

[

2012 - 2014

]

Profit/(Loss) Before Tax

:

Decreased

[

2012 - 2014

]

Return on Shareholder Funds

:

Favourable

[

135.46%

]

Return on Net Assets

:

Favourable

[

152.26%

]

The continuous fall in turnover could be due to the lower demand for the Subject's products / services.The dip in profit could be due to the stiff market competition which reduced the Subject's profit margin. Generally the Subject was profitable. The favourable return on shareholders' funds and return on net assets indicate that the Subject's management was efficient in utilising the assets to generate returns.

Working Capital Control

Stock Ratio

:

Favourable

[

11 Days

]

Debtor Ratio

:

Unfavourable

[

105 Days

]

Creditors Ratio

:

Unfavourable

[

131 Days

]

The Subject's stocks were moving fast thus reducing its holding cost. This had reduced funds being tied up in stocks. The Subject's debtors ratio was high. The Subject should tighten its credit control and improve its collection period. The unfavourable creditors' ratio could be due to the Subject taking advantage of the credit granted by its suppliers. However this may affect the goodwill between the Subject and its suppliers and the Subject may inadvertently have to pay more for its future supplies.

Liquidity

Liquid Ratio

:

Favourable

[

1.16 Times

]

Current Ratio

:

Unfavourable

[

1.22 Times

]

A minimum liquid ratio of 1 should be maintained by the Subject in order to assure its creditors of its ability to meet short term obligations and the Subject was in a good liquidity position. Thus, we believe the Subject is able to meet all its short term obligations as and when they fall due.

Solvency

Interest Cover

:

Favourable

[

33.89 Times

]

Gearing Ratio

:

Favourable

[

0.00 Times

]

The interest cover showed that the Subject was able to service the interest. The favourable interest cover could indicate that the Subject was making enough profit to pay for the interest accrued. The Subject had no gearing and hence it had virtually no financial risk. The Subject was financed by its shareholders' funds and internally generated fund. During the economic downturn, the Subject, having a zero gearing, will be able to compete better than those which are highly geared in the same industry.

Overall Assessment :

The Subject's performance deteriorated over the years with lower turnover and profit. The Subject was in good liquidity position with its total current liabilities well covered by its total current assets. With its current net assets, the Subject should be able to repay its short term obligations. With the favourable interest cover, the Subject could be able to service all the accrued interest without facing any difficulties. The Subject was a zero gearing company, it was solely dependant on its shareholders to provide funds to finance its business. The Subject has good chance of getting loans, if the needs arises.

Overall financial condition of the Subject : STABLE

 

SINGAPORE ECONOMIC / INDUSTRY OUTLOOK

 

 

Major Economic Indicators :

2009

2010

2011

2012

2013

 

Population (Million)

4.98

5.08

5.18

5.31

5.40

Gross Domestic Products ( % )

(0.8)

14.5

4.9

1.3

3.7

Consumer Price Index

0.6

2.8

5.2

4.6

2.4

Total Imports (Million)

356,299.3

423,221.8

459,655.1

474,554.0

466,762.0

Total Exports (Million)

391,118.1

478,840.7

514,741.2

510,329.0

513,391.0

 

Unemployment Rate (%)

3.2

2.2

2.1

2.0

1.9

Tourist Arrival (Million)

9.68

11.64

13.17

14.49

15.46

Hotel Occupancy Rate (%)

75.8

85.6

86.5

86.4

86.3

Cellular Phone Subscriber (Million)

1.37

1.43

1.50

1.52

1.97

 

Registration of New Companies (No.)

26,414

29,798

32,317

31,892

37,288

Registration of New Companies (%)

4.3

12.8

8.5

(1.3)

9.8

Liquidation of Companies (No.)

22,393

15,126

19,005

17,218

17,369

Liquidation of Companies (%)

113.4

(32.5)

25.6

9.4

(5.3)

 

Registration of New Businesses (No.)

26,876

23,978

23,494

24,788

22,893

Registration of New Businesses (%)

8.15

(10.78)

2.02

5.51

1.70

Liquidation of Businesses (No.)

23,552

24,211

23,005

22,489

22,598

Liquidation of Businesses (%)

11.4

2.8

(5)

(2.2)

0.5

 

Bankruptcy Orders (No.)

2,058

1,537

1,527

1,748

1,992

Bankruptcy Orders (%)

(11.5)

(25.3)

(0.7)

14.5

14.0

Bankruptcy Discharges (No.)

3,056

2,252

1,391

1,881

2,584

Bankruptcy Discharges (%)

103.7

(26.3)

(38.2)

35.2

37.4

 

INDUSTRIES ( % of Growth ) :

Agriculture

Production of Principal Crops

3.25

(0.48)

4.25

3.64

-

Fish Supply & Wholesale

(1.93)

(10.5)

12.10

(0.5)

-

 

Manufacturing *

71.5

92.8

100.0

100.3

102.0

Food, Beverages & Tobacco

90.4

96.4

100.0

103.5

103.5

Textiles

145.9

122.1

100.0

104.0

87.1

Wearing Apparel

211.0

123.3

100.0

92.1

77.8

Leather Products & Footwear

79.5

81.8

100.0

98.6

109.8

Wood & Wood Products

101.4

104.0

100.0

95.5

107.4

Paper & Paper Products

95.4

106.1

100.0

97.4

103.2

Printing & Media

100.9

103.5

100.0

93.0

86.1

Crude Oil Refineries

96.4

95.6

100.0

99.4

93.5

Chemical & Chemical Products

80.3

97.6

100.0

100.5

104.1

Pharmaceutical Products

49.1

75.3

100.0

109.7

107.2

Rubber & Plastic Products

101.2

112.3

100.0

96.5

92.9

Non-metallic Mineral

91.9

92.5

100.0

98.2

97.6

Basic Metals

92.6

102.2

100.0

90.6

76.5

Fabricated Metal Products

90.8

103.6

100.0

104.3

105.1

Machinery & Equipment

57.3

78.5

100.0

112.9

114.5

Electrical Machinery

86.8

124.1

100.0

99.3

108.5

Electronic Components

85.2

113.6

100.0

90.6

94.3

Transport Equipment

96.0

94.0

100.0

106.3

107.5

 

Construction

(36.9)

14.20

20.50

28.70

-

Real Estate

1.4

21.3

25.4

31.9

-

 

Services

Electricity, Gas & Water

1.70

4.00

7.00

6.30

-

Transport, Storage & Communication

3.90

12.80

7.40

5.30

-

Finance & Insurance

(16.4)

(0.4)

8.90

0.50

-

Government Services

4.50

9.70

6.90

6.00

-

Education Services

0.10

(0.9)

(1.4)

0.30

-

 

* Based on Index of Industrial Production (2011 = 100)



INDUSTRY ANALYSIS

 

INDUSTRY :

TELECOMMUNICATION

Singapore's telecommunications industry has outperformed many of its regional peers with strong adoption of the latest products and services. Partially due to the country's small landmass and population size, the telecoms market has rapidly grown to a stage where it is approaching saturation. Next generation technologies, both mobile and fixed, are therefore the next step in fostering new developments and revenue streams, and industry players - the regulator and operators - have rightly moved in that direction.

BMI forecasted Singapore's mobile sector will grow by only 1.2% annually between 2013 and 2018 owing to the high penetration and a shift in operators' strategies. The fixed-line market has started to contract earlier than they had expected, and they forecasted the number of subscribers to decline to 1.7mn in 2018. Next generation fibre and LTE services are the future growth drivers for the Singaporean broadband industry, although they expect the growth momentum to be relative slow initially due to factors such as contract lock-in period. They forecasted 11.7mn broadband subscribers in the country by end-2018.

The number of broadband subscribers has increased by 4.5% in 2013, slower than the 11% surge in the previous year. With the continued rise in the number of subscribers, the broadband subscription rate ticked up from 1.9 per capita in 2012 to 2.0 per capita in 2013. Similarly, the international telephone call duration rose by 7.8% in 2013, moderating from the 8.9% increase in the previous year. In particular, call duration in the first half of the year increased by 1.6%, much slower than the 14% increase over the same period in 2012.

By contrast, the number of mobile subscribers grew by 4.4% in 2013, extending the 4.0% growth in 2012. As a result of the increase in subscribers, the mobile subscription rate reached 1.6 per capita in 2013, slightly higher than the 1.5 per capita in 2012.

OVERALL INDUSTRY OUTLOOK : MARGINAL GROWTH



CREDIT RISK EVALUATION & RECOMMENDATION

 

 

Incorporated in 2005, the Subject is a Foreign company, focusing on communication solutions provider. Having been in business for more than 5 years, the Subject has established a remarkable clientele base for itself which has contributed to its business growth.

Over the years, the Subject has penetrated into both the local and overseas market. The Subject has positioned itself in the global market and is competing in the industry. Its stable clientele base will enable the Subject to further enhance its business in the near term. Overall, we regard that the Subject's management capability is average. This indicates that the Subject has greater potential to improve its business performance and raising income for the Subject.

The Subject's business performance showed a reverse trend as both its turnover and pre-tax profit have decreased compared to the previous year. Based on the higher profitability, the Subject has generated a favourable return based on its existing shareholders' funds which indicated that the management was efficient in utilising its funds to generate income. The Subject is in good liquidity position with its current liabilities well covered by it current assets. Hence, it has sufficient working capital to meet its short term financial obligations. Being a zero geared company, the Subject virtually has no financial risk as it is mainly dependent on its internal funds to finance its business.

Without a strong assets backing, the Subject may face difficulties in getting loans for its future expansion and continued growth .

The poor payment habit may affect the goodwill between the Subject and its suppliers and the Subject may inadvertently have to pay more for its future supplies.

The industry has reached its maturity stage and only enjoying a marginal growth. The steady growth of the country's economy will further enhance the industry activities. Thus, the Subject's future performance is very much depend on its marketing strategies in order to retain its position in the market.

Based on the above condition, we recommend credit be granted to the Subject normally.

 



PROFIT AND LOSS ACCOUNT

 

 

THE FINANCIAL STATEMENTS WERE PREPARED IN ACCORDANCE WITH SINGAPORE FINANCIAL REPORTING STANDARDS.

ABS INDIA PRIVATE LIMITED (SINGAPORE BRANCH)

 

Financial Year End

2014-03-31

2013-03-31

2012-03-31

Months

12

12

12

Consolidated Account

Company

Company

Company

Audited Account

YES

YES

YES

Unqualified Auditor's Report (Clean Opinion)

YES

YES

YES

Financial Type

FULL

FULL

FULL

Currency

USD

USD

USD

TURNOVER

2,089,290

2,106,024

4,141,488

----------------

----------------

----------------

Total Turnover

2,089,290

2,106,024

4,141,488

Costs of Goods Sold

(1,582,559)

(1,476,291)

(2,927,440)

----------------

----------------

----------------

Gross Profit

506,731

629,733

1,214,048

----------------

----------------

----------------

PROFIT/(LOSS) FROM OPERATIONS

333,801

452,671

911,445

----------------

----------------

----------------

PROFIT/(LOSS) BEFORE TAXATION

333,801

452,671

911,445

Taxation

(27,804)

(9,127)

(139,448)

----------------

----------------

----------------

PROFIT/(LOSS) AFTER TAXATION

305,997

443,544

771,997

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) BROUGHT FORWARD

As previously reported

4,321,828

3,878,284

3,106,287

----------------

----------------

----------------

As restated

4,321,828

3,878,284

3,106,287

----------------

----------------

----------------

PROFIT AVAILABLE FOR APPROPRIATIONS

4,627,825

4,321,828

3,878,284

----------------

----------------

----------------

RETAINED PROFIT/(LOSS) CARRIED FORWARD

4,627,825

4,321,828

3,878,284

=============

=============

=============

INTEREST EXPENSE (as per notes to P&L)

Others

10,149

7,727

12,214

----------------

----------------

----------------

10,149

7,727

12,214

=============

=============

=============

 

BALANCE SHEET

 

 

ABS INDIA PRIVATE LIMITED (SINGAPORE BRANCH)

 

Stocks

60,421

620

57,896

Trade debtors

598,827

820,977

1,520,168

Other debtors, deposits & prepayments

3,951

4,417

4,382

Cash & bank balances

568,337

248,069

279,237

----------------

----------------

----------------

TOTAL CURRENT ASSETS

1,231,536

1,074,083

1,861,683

----------------

----------------

----------------

TOTAL ASSET

1,231,536

1,074,083

1,861,683

=============

=============

=============

CURRENT LIABILITIES

Trade creditors

565,894

649,398

1,346,625

Other creditors & accruals

9,205

11,320

9,358

Provision for taxation

23,958

8,981

145,029

Other liabilities

406,581

180,887

143,172

----------------

----------------

----------------

TOTAL CURRENT LIABILITIES

1,005,638

850,586

1,644,184

----------------

----------------

----------------

NET CURRENT ASSETS/(LIABILITIES)

225,898

223,497

217,499

----------------

----------------

----------------

TOTAL NET ASSETS

225,898

223,497

217,499

=============

=============

=============

HEAD OFFICE ACCOUNT

(4,401,927)

(4,098,331)

(3,660,785)

Retained profit/(loss) carried forward

4,627,825

4,321,828

3,878,284

----------------

----------------

----------------

TOTAL RESERVES

4,627,825

4,321,828

3,878,284

----------------

----------------

----------------

SHAREHOLDERS' FUNDS/EQUITY

225,898

223,497

217,499

----------------

----------------

----------------

225,898

223,497

217,499

=============

=============

=============

 

FINANCIAL RATIO

 

 

ABS INDIA PRIVATE LIMITED (SINGAPORE BRANCH)

 

TYPES OF FUNDS

Cash

568,337

248,069

279,237

Net Liquid Funds

568,337

248,069

279,237

Net Liquid Assets

165,477

222,877

159,603

Net Current Assets/(Liabilities)

225,898

223,497

217,499

Net Tangible Assets

225,898

223,497

217,499

Net Monetary Assets

165,477

222,877

159,603

BALANCE SHEET ITEMS

Total Borrowings

0

0

0

Total Liabilities

1,005,638

850,586

1,644,184

Total Assets

1,231,536

1,074,083

1,861,683

Net Assets

225,898

223,497

217,499

Net Assets Backing

225,898

223,497

217,499

Shareholders' Funds

225,898

223,497

217,499

Total Share Capital

0

0

0

Total Reserves

4,627,825

4,321,828

3,878,284

LIQUIDITY (Times)

Cash Ratio

0.57

0.29

0.17

Liquid Ratio

1.16

1.26

1.10

Current Ratio

1.22

1.26

1.13

WORKING CAPITAL CONTROL (Days)

Stock Ratio

11

0

5

Debtors Ratio

105

142

134

Creditors Ratio

131

161

168

SOLVENCY RATIOS (Times)

Gearing Ratio

0.00

0.00

0.00

Liabilities Ratio

4.45

3.81

7.56

Times Interest Earned Ratio

33.89

59.58

75.62

Assets Backing Ratio

-

-

-

PERFORMANCE RATIO (%)

Operating Profit Margin

15.98

21.49

22.01

Net Profit Margin

14.65

21.06

18.64

Return On Net Assets

152.26

206.00

424.67

Return On Capital Employed

152.26

206.00

424.67

Return On Shareholders' Funds/Equity

135.46

198.46

354.94

Dividend Pay Out Ratio (Times)

0.00

0.00

0.00

NOTES TO ACCOUNTS

Contingent Liabilities

0

0

0

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.18

UK Pound

1

Rs.95.71

Euro

1

Rs.70.76

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

NIT

 

               

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

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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.