MIRA INFORM REPORT

 

 

Report No. :

328526

Report Date :

30.06.2015

 

IDENTIFICATION DETAILS

 

Name :

TAN LONG CHEMICAL INDUSTRY JSC

 

 

Registered Office :

Rm 810, 18-T2 Bldg Trunghoa Nhanchinh, Thanh Xuan, Hanoi

 

 

Country :

Vietnam

 

 

Financials (as on) :

December 2014

 

 

Date of Incorporation :

28.02.2012

 

 

Legal Form :

Joint Stock Company

 

 

Line of Business :

Trader Chemicals

 

 

No. of Employees :

140

 

 

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 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 Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

B2

Moderate High Risk

 

C1

High Risk

C2

Very High Risk

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. Vietnamese authorities have reaffirmed their commitment to economic modernization in recent years. Vietnam joined the World Trade Organization in January 2007, which has promoted more competitive, export-driven industries . Vietnam became an official negotiating partner in the Trans-Pacific Partnership trade agreement in 2010. Agriculture's share of economic output has continued to shrink 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 account for about 40% of GDP. 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. The global recession hurt Vietnam's export-oriented economy, with GDP in 2014 growing at 5.4%, one of the slower growth rates since 1999. Exports have grown strongly in 2013-14; several administrative actions brought the trade deficit back into balance. 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. Hanoi has oscillated between promoting growth and emphasizing macroeconomic stability in recent years. 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 the restructuring of 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. Vietnam is a member of the 12-nation Trans-Pacific Partnership free trade agreement negotiations.

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

Company Details

Organization Name

:

TAN LONG CHEMICAL INDUSTRY JSC (1)

Address

:

Rm 1012 Block 01 My Phuoc Bldg, Binh Tan Dist, Ho Chi Minh

Country

:

Vietnam

Phone (S)

:

[+84] 8-62949204

Facsimile

:

[+84] 8-62949205

Email

:

trungcq@hcm.vnn.vn

Website

:

http://www.tanlong.net.vn

Primary Business Activity

:

Trader

Key Industry

:

Chemicals

 

Key Facts

Registered Legal Address

:

Rm 810, 18-T2 Bldg Trunghoa Nhanchinh, Thanh Xuan, Hanoi

Operational Address

:

Rm 1012 Block 01 My Phuoc Bldg, Binh Tan Dist, Ho Chi Minh

Trading Name

:

TAN LONG CHEIN JSC

Name History

:

Business Entity Name

Effective Date

TAN LONG VAN CO LTD

10 Mar, 2000

TAN LONG CHEMICAL INDUSTRY JSC

8 Dec, 2006

Issuing Authority

:

Dept. of Planning & Investment - Hanoi

License Number

:

0100978593

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

:

28 Feb, 2012

Employees

:

140

PREVIOUS BUSINESS LICENSE/S

 

License Date

License No.

10 Mar, 2000

0102000121

8 Sep, 2008

0103014919

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.

 

(2) Not applicable.
According to the corporate statutory laws for this type of Legal Form - Category(Joint Stock Company) in Vietnam, there is no requirement for Authorized Capital.

 

 

DIRECTORS/MANAGEMENT

 

Key Person

Legal Title

:

Chairman

Name

:

Mr. Truong Sy Ba

Nationality

:

Vietnamese

 

COMPANY MANAGEMENT

Management Listings

 

Name

Nationality

Job Description

Dept. / Division

1

Mr. Truong Sy Ba

Vietnamese

Managing Director

-

2

Mr. Tran Van Que

Vietnamese

Deputy Managing Director

-

3

Mr. Bui Anh Tuan

Vietnamese

Chief Accountant

-

 

Management Details - 1

Personal Unique Identifier

:

MI03869624

Name

:

Mr. Truong Sy Ba

 

Date of Birth

:

1967

 

Management Details - 2

Personal Unique Identifier

:

MI03869626

Name

:

Mr. Tran Van Que

 

Date of Birth

:

1967

 

Management Details - 3

Personal Unique Identifier

:

MI03869627

Name

:

Mr. Bui Anh Tuan

 

 

 

COMPANY DIRECTORS

1

 

 

Personal Unique Identifier

:

MI03869624

Name

:

Mr. Truong Sy Ba

Date of Birth

:

1967

 

NEGATIVE INFORMATION

 

REPUTATION

Reference checking for the purpose of establishing TAN LONG CHEMICAL INDUSTRY 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

:

n/a (2)

 

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

Mr. Truong Sy Ba

Vietnam

n/a

440,000,000,000

88.00

2

Undisclosed Shareholders

n/a

n/a

60,000,000,000

12.00

Total

n/a

500,000,000,000

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

65%

International Sales (Export)

35%

Annual Purchases Analysis

Percentage

Local Purchases

30%

Imports

70%

 

PAYMENT TERMS

Selling

Type

Terms

Local

Cash on delivery (COD)

Credit - Unsecured 30~60 days

Export

Letter of Credit (At-sight)

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

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

 

LOCAL BRANCHES & MANAGEMENT

Branch

:

TAN LONG CHEMICAL INDUSTRY JSC - HONG BANG DIST, HAIPHONG

Branch Address

:

18/897 Ton Duc Thang St So Dau Ward, Hong Bang Dist, Haiphong

 

Branch

:

TAN LONG CHEMICAL INDUSTRY JSC - LAP VO DIST, DONG THAP

Branch Address

:

Duong ven Song Hau An Ninh Hamlet Dinh An Commune, Lap Vo Dist, Dong Thap

 

Branch

:

TAN LONG CHEMICAL INDUSTRY JSC - SON TRA DIST, DA NANG

Branch Address

:

247 - 249 Ngo Quyen An Hai Bac Ward, Son Tra Dist, Da Nang, Quang Nam-Da Na

 

Branch

:

TAN LONG CHEMICAL INDUSTRY JSC - BINH THANH, HO CHI MINH

Branch Address

:

Rm 0812, Block 1 My Phuoc Apartment Ward 2, Binh Thanh, Ho Chi Minh

 

RELATED PARTIES (Subsidiaries , Joint-ventures & Affiliates)

The following provides a summary of the number of businesses that are related to TAN LONG CHEMICAL INDUSTRY JSC:

 

TYPE

DOMESTIC

TOTAL

Subsidiaries

1

Joint-Ventures

-

Minority shareholdings

-

Affiliates

-

Liaison / Representative Offices

-

 

 

Domestic

Business Entity Name

:

NGHE AN MINERAL JSC

Global Identifier

:

P1310608

Country

:

Vietnam

Relationship

:

Subsidiary

Operational Address

:

2 Le Hong Phong St Hung Binh Ward, Vinh, Nghe An

Primary Business Activity

:

Manufacturer

Industry

:

Minerals / Mining

 

FINANCIAL INFORMATION

 

Financials - Summary  (Currency: USD - US Dollar)

Year

Turnover

Assets

Net Income

2012 Annual  

271,737,498

90,494,539

4,291,451

2013 Annual  

298,514,849

106,145,412

4,376,641

2014 Annual  

399,627,925

189,625,466

3,443,832

 

Sales Trend – Analysis

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

-

-

-

-

-

-

-

-

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

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

 

FINANCIAL STATEMENT - DETAILED

Balance Sheet

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Current Assets(*)

1,601,982,000,000

1,945,242,000,000

3,698,682,000,000

Non Current Assets(*)

282,536,000,000

293,162,000,000

310,683,000,000

Non Current Liabilities(*)

51,179,000,000

37,056,000,000

23,581,000,000

Share Capital(*)

350,000,000,000

350,000,000,000

500,000,000,000

Other long term assets 

Total Assets(*)

1,884,518,000,000

2,238,404,000,000

4,009,365,000,000

Total Liabilities(*)

1,430,391,000,000

1,691,984,000,000

3,390,129,000,000

Current Liabilities(*)

1,379,212,000,000

1,654,928,000,000

3,366,548,000,000

Long term liabilities 

Shareholders Funds(*)

454,127,000,000

546,420,000,000

619,236,000,000

 

Current Assets & Short-Term Investments

1,601,982,000,000

1,945,242,000,000

3,698,682,000,000

Cash & Cash Equivalents

100,343,000,000

96,919,000,000

64,789,000,000

Cash

100,343,000,000

96,919,000,000

64,789,000,000

Short-Term Investments

115,751,000,000

51,847,000,000

69,402,000,000

Short-Term Securities Investments

115,751,000,000

51,847,000,000

69,402,000,000

Accounts Receivable

648,840,000,000

875,086,000,000

2,036,410,000,000

Accounts Receivable Trade

572,306,000,000

678,364,000,000

1,156,673,000,000

Trade Prepayment

72,230,000,000

182,963,000,000

871,665,000,000

Others Receivables

4,304,000,000

13,759,000,000

8,072,000,000

i. Inventories

681,353,000,000

836,087,000,000

1,393,098,000,000

ii. Inventories

681,353,000,000

836,087,000,000

1,393,098,000,000

i. Other Short-Term Asset

55,695,000,000

85,303,000,000

134,983,000,000

Prepaid Expenses

-

171,000,000

-

Vat Deductible

14,909,000,000

1,892,000,000

58,339,000,000

Other Tax Receivables

-

10,000,000

-

ii. Other Short-Term Asset

40,786,000,000

83,230,000,000

76,644,000,000

Long-Term Assets

282,536,000,000

293,162,000,000

310,683,000,000

Fixed Assets

143,869,000,000

152,501,000,000

170,022,000,000

Tangible Fixed Assets

88,534,000,000

82,991,000,000

74,007,000,000

i. Cost

102,122,000,000

104,859,000,000

103,353,000,000

i. Accumulated Depreciation

13,588,000,000

21,868,000,000

29,346,000,000

Intangible Fixed Assets

10,658,000,000

69,510,000,000

84,935,000,000

ii. Cost

11,111,000,000

70,215,000,000

85,892,000,000

ii. Accumulated Depreciation

453,000,000

705,000,000

957,000,000

Construction In Progress

44,677,000,000

-

11,080,000,000

Long-Term Investments

138,667,000,000

140,661,000,000

140,661,000,000

Invest To Subsidiary Company

122,180,000,000

124,175,000,000

124,175,000,000

Invest To Joint Venture Company

16,487,000,000

16,486,000,000

16,486,000,000

Total Assets

1,884,518,000,000

2,238,404,000,000

4,009,365,000,000

Liabilities

1,430,391,000,000

1,691,984,000,000

3,390,129,000,000

Current Liabilities

1,379,212,000,000

1,654,928,000,000

3,366,548,000,000

Short-Term Borrowings

982,844,000,000

1,466,912,000,000

1,898,971,000,000

Accounts Payables-Trade

391,492,000,000

154,151,000,000

673,492,000,000

Advances From Customers

-

-

785,870,000,000

Taxes And Payable To State Budget

4,876,000,000

33,865,000,000

8,215,000,000

Long-Term Liabilities

51,179,000,000

37,056,000,000

23,581,000,000

Long-Term Borrowings

51,179,000,000

37,056,000,000

23,581,000,000

i. Owner's Equity

454,127,000,000

546,420,000,000

619,236,000,000

ii. Owner's Equity

454,127,000,000

546,420,000,000

619,236,000,000

Business Capital

350,000,000,000

350,000,000,000

500,000,000,000

Business Development Funds

5,535,000,000

5,535,000,000

5,534,000,000

Financial Reserved Funds

9,224,000,000

9,224,000,000

9,224,000,000

Retained Earnings

89,368,000,000

181,661,000,000

104,478,000,000

Total Resources

1,884,518,000,000

2,238,404,000,000

4,009,365,000,000

Note: (*)

Financial Highlights

 

Income Statement

Currency

:

VND

Denomination

:

1

Financial Year Ending

:

December

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Turnover(*)

5,658,841,000,000

6,295,108,000,000

8,449,573,000,000

Profit (Loss) Before Tax(*)

117,830,000,000

123,060,000,000

93,353,000,000

Profit After Tax attributable to Shareholders(*)

89,368,000,000

92,295,000,000

72,815,000,000

Gross Sales

5,658,841,000,000

6,295,108,000,000

8,449,573,000,000

Less Deductions

-

-

749,000,000

Net Income

5,658,841,000,000

6,295,108,000,000

8,448,824,000,000

Cost Of Goods Sold

5,271,210,000,000

5,910,392,000,000

8,036,920,000,000

Gross Margin

387,631,000,000

384,716,000,000

411,904,000,000

Income From Financial Activities

4,749,000,000

4,389,000,000

17,143,000,000

Expenses From Financial Activities

117,694,000,000

113,773,000,000

146,130,000,000

In Which: Interest Expenses

117,154,000,000

88,354,000,000

139,569,000,000

Selling Expenses

143,931,000,000

128,391,000,000

161,510,000,000

General & Administration Expenses

33,409,000,000

34,424,000,000

28,557,000,000

Net Income From Operating Activities

97,346,000,000

112,517,000,000

92,850,000,000

Extraordinary Income

20,826,000,000

19,047,000,000

2,255,000,000

Extraordinary Expenses

342,000,000

8,504,000,000

1,752,000,000

Extraordinary Gains

20,484,000,000

10,543,000,000

503,000,000

Net Profit Before Tax

117,830,000,000

123,060,000,000

93,353,000,000

Income Tax

28,462,000,000

30,765,000,000

20,538,000,000

Net Profit After Tax

89,368,000,000

92,295,000,000

72,815,000,000

Note: (*)

Financial Highlights

Financial Ratios

Financial Highlights

2012 Annual

2013 Annual

2014 Annual

Growth % 

Year-on-Year Growth

-

11.24

34.22

Profitability 

Profit Margin (%)

1.58

1.47

0.86

Return on Equity (%)

19.68

16.89

11.76

Return on Assets (%)

4.74

4.12

1.82

Leverage 

Total Debt Equity (Times)

3.15

3.10

5.47

Current Debt Equity (Times)

3.04

3.03

5.44

Long Term Debt to Equity

0.11

0.07

0.04

Total Asset To Total Equity

4.15

4.10

6.47

Asset Management 

Total Assets Turnover (Times)

3.00

2.81

2.11

Fixed Assets Turnover (Times)

20.03

21.47

27.20

Liquidity 

Current Ratio

1.16

1.18

1.10

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

=

0.000046 USD
United States Dollars

 

 

ADDITIONAL INFORMATION

 

Report Details

Country

:

Vietnam

Business Entity Name

:

TAN LONG CHEMICAL INDUSTRY JSC

Primary Business Activity

:

Trader

Primary Industry

:

Chemicals

Office Contact Details

Operating Address

:

Rm 1012 Block 01 My Phuoc Bldg, Binh Tan Dist, Ho Chi Minh

Tel

:

[+84] 8-62949204

Fax

:

[+84] 8-62949205

Email

:

trungcq@hcm.vnn.vn
info@tanlong.net.vn

Website Details

Website

:

http://www.tanlong.net.vn

Status

:

Normal - operational

Country of Registration

:

Vietnam

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

:

0100978593

Date of Issuance

:

23 Mar, 2009

 

Primary Products

 

Products / Materials / Services Description

Activity

Chemicals

Trading

Fertilizers

Trading

Pesticide

Trading

 

SIC PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Agricultural pesticides and other agricultural chemicals, nspf

2879

Trading

Chemicals and Allied Products

2800

Trading

Chemicals and fertilizer minerals

1479

Trading

Rice

0112

Trading

 

HARMONIZED PRODUCT CLASSIFICATION & ACTIVITY

Product/Service Description

Code

Activity

Fertilizers

3100

Trading

Miscellaneous chemical products

3800

Trading

Pesticides

2909303000

Trading

Rice

1006

Trading

 

DETAILED PRODUCT CLASSIFICATION & ACTIVITY

Products / Materials / Services Description

Ranking

Activity

Rice

Secondary

Trading

 

CORE BUSINESS DESCRIPTION

Core Business

The primary business focus of TAN LONG CHEMICAL INDUSTRY JSC is Trading - Finished products.

Key products include :

Chemicals

Fertilizers

Pesticide

Supplementary Business

In addition to the core business, TAN LONG CHEMICAL INDUSTRY JSC also is engaged in the following areas of business:

Exporting

Exporting - Finished products

Importing

Importing - Finished products

 

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 - HANOI

SWIFT Code

:

BFTVVNVX

 

Bank Name

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT & DEVELOPMENT OF VIETNAM

Global Identifier

:

32400483

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

JOINT STOCK COMMERCIAL BANK FOR INVESTMENT AND DEVELOPMENT OF VIETNAM - BA DINH

SWIFT Code

:

BIDVVNVX

 

Bank Name

:

VIETNAM BANK FOR AGRICULTURE & RURAL DEVELOPMENT

Global Identifier

:

32408794

Branch

:

Tu Liem,Hanoi

Branch Address

:

18 Tran Huu Duc My Dinh Tu Liem Hanoi (Head Office)

SWIFT Code

:

VBAAVNVX

 

Bank Name

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY & TRADE

Global Identifier

:

32404058

Branch

:

Hoan Kiem Dist,Hanoi

Branch Address

:

VIETNAM JOINT STOCK COMMERCIAL BANK FOR INDUSTRY AND TRADE - DONG DA, HANOI

SWIFT Code

:

ICBVVNVX

 

 

INTERNATIONAL TRADE - Activity & Markets

 

Country / Region

Estimated level of importance

Trading Activity

Asia / Pacific

Medium

Importing, Exporting

China

Medium

Importing

India

Medium

Exporting

Japan

Medium

Importing, Exporting

Korea, South (Republic of Korea)

Medium

Importing

Singapore

Medium

Exporting

 

OFFICE & FACILITIES

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

Name

:

TAN LONG CHEMICAL INDUSTRY JSC - BINH TAN DIST, HO CHI MINH

Primary Use

:

Office & Administration facilities

Type of Location

:

Commercial

Address

:

Rm 1012 Block 01 My Phuoc Bldg, Binh Tan Dist, Ho Chi Minh

Country

:

Vietnam

Status

:

Operational

 

PREVIOUS CONTACT DETAILS

Company Address

:

117B Group 6 Khuong Thuong Ward, Dong Da, Hanoi

 

NOTES & COMMENTS

 

N/a

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 63.91

UK Pound

1

Rs. 100.40

Euro

1

Rs. 70.41

 

INFORMATION DETAILS

 

Analysis Done by :

KRN

 

 

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.