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Report No. : |
313170 |
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Report Date : |
20.03.2015 |
IDENTIFICATION DETAILS
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Name : |
CHIEH YUNG AUTOMATION CORP. |
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Registered Office : |
No.113, Andung St., Sanmin Dist., Kaohsiung, Taiwan 807, R.O.C. |
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Country : |
Taiwan |
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Date of Incorporation : |
26.03.1982 |
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Com. Reg. No.: |
81193652 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturing and Sales of Locks and Related
Manufacturing Machines for Locks. |
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No. of Employees : |
About 30 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
|
Taiwan |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
TAIWAN - ECONOMIC OVERVIEW
Taiwan has a dynamic
capitalist economy with gradually decreasing government guidance of investment and
foreign trade. Exports, led by electronics, machinery, and petrochemicals have
provided the primary impetus for economic development. This heavy dependence on
exports exposes the economy to fluctuations in world demand. Taiwan's
diplomatic isolation, low birth rate, and rapidly aging population are other
major long-term challenges. Free trade agreements have proliferated in East
Asia over the past several years, and following the landmark Economic
Cooperation Framework Agreement (ECFA) signed with China in June 2010, Taiwan
in July 2013 signed a free trade deal with New Zealand—Taipei’s first-ever with
a country with which it does not maintain diplomatic relations—and in November
inked a trade pact with Singapore. Negotiations continue on follow-on components
of ECFA regarding trade in goods and a dispute resolution mechanism; a trade in
services agreement is under review in the legislature. Taiwan's Total Fertility
rate of just over one child per woman is among the lowest in the world, raising
the prospect of future labor shortages, falling domestic demand, and declining
tax revenues. Taiwan's population is aging quickly, with the number of people
over 65 accounting for 11.2% of the island's total population as of 2012. The
island runs a large overall trade surplus largely because of its surplus with
China, and its foreign reserves are the world's sixth largest, behind China,
Japan, Saudi Arabia, Russia, and Switzerland. In 2006 China overtook the US to
become Taiwan's second-largest source of imports after Japan. China is also the
island's number one destination for foreign direct investment. Taiwan since
2009 has gradually loosened rules governing Chinese investment on the island,
and has also secured greater market access for its investors in the mainland.
In August 2012, Taiwan Central Bank signed a memorandum of understanding on
cross-Strait currency settlement with its Chinese counterpart. The MOU allows
for the direct settlement of Chinese RMB and the New Taiwan dollar across the
Strait, which could help develop Taiwan into a local RMB hub. Closer economic
links with the mainland bring greater opportunities for the Taiwan economy, but
also poses new challenges as the island becomes more economically dependent on
China while political differences remain unresolved.
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Source
: CIA |
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Company Name: |
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Supplied Name: |
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Trading Address: |
No.113, Andung St.,
Sanmin Dist., Kaohsiung, Taiwan 807, R.O.C. |
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Supplied Address: |
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Telephone Number: |
+886- 7-315-8080 |
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Fax Number: |
+886- 7-315-8181 |
Notes: We contacted with the subject, the subject
introduced exact name and address are as above. However, she didn’t mention the
supplied address.
Subject was incorporated
on 1982-3-26 with registered number 81193652
as Joint Stock Company in Taiwan.
Factory
|
Address: |
No.113, Andung St., Sanmin Dist., Kaohsiung, Taiwan 807, R.O.C. |
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Date of Registration: |
2003-1-20 |
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Factory Registration Number: |
64005811 |
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Factory Manager: |
Zongnan Chen |
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Status: |
In Production |
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Date of Last Annual Return: |
2006-1-11 |
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Major Products: |
292 Other general developping specialties |
Major Shareholders
|
Name |
Subscription Shares |
|
Zong Mao Investment Co, Ltd (Liberal Translation) |
850,000 |
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Zhouhua Chen |
340,000 |
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Guanyuan Chen |
50,000 |
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Guanjie Chen |
50,000 |
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Shuxin Lichen |
360,000 |
Shareholder Information:
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Registered Name: |
Zong Mao Investment Co, Ltd (Liberal
Translation) |
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Registered Address: |
No.10, Aly. 20, Lane 89, Jinshan Rd., Sanmin
Dist., Kaohsiung City, Taiwan (R.O.C.) |
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Date of Foundation: |
2006-8-18 |
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Registration Number: |
28289849 |
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Registry: |
Economic Development Bureau Kaohsiung City
Government |
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Registered Capital: |
NTD 13,600,000 (USD 421,600) (As of 2015.03, 1 NTD = 0.031 USD) |
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Paid-up Capital: |
NTD 13,600,000 (USD 421,600) |
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Legal Representatives: |
Zongnan Chen |
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Legal Form: |
Joint Stock Company |
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Listed at Stock Exchange: |
No |
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Date of Last Annual Return: |
-- |
Core Management
Directors
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1 |
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Name |
Zongnan Chen |
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Position |
Board Chairman |
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2 |
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Name |
Zhouhua Chen |
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Position |
Director |
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3 |
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Name |
Guanyuan Chen |
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Position |
Director |
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4 |
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Name |
Guanjie Chen |
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Position |
Director |
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5 |
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Name |
Shuxin Lichen |
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Position |
Supervisor |
Personnel
Structure
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Total Employees |
About 30 Employees |
Offices &
Factories
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|
Headquarters |
|
Add |
No.113, Andung St., Sanmin Dist., Kaohsiung, Taiwan 807, R.O.C. |
Production
Information
· Subject is engaged in manufacturing of locks and related manufacturing machines for locks.
· Subject has a factory in Taiwan for production.
Purchase
Information
The registered
activities of subject:
|
Business Code |
Details |
|
CA02070 |
Manufacturing of locks. |
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CB01010 |
Manufacturing of machinery. |
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E603050 |
Engineering industry of automatic controlling device. |
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F113010 |
Wholesales of machinery. |
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F213080 |
Retails of machinery and tools. |
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F106010 |
Wholesales of hardware. |
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F206010 |
Retails of hardware. |
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F111090 |
Wholesales of construction materials. |
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F211010 |
Retails of construction materials. |
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F401010 |
International trading business. |
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ZZ99999 |
Besides licensed business, all other business items those are not
banned or restricted. |
· It is introduced that subject purchases its components and etc both at home and abroad.
· It is introduced that subject imports some technologies and etc from the company named “Giuliani” in Italy, the company named “Maromatic” in USA and etc.
· Subject is engaged in sale of locks and related manufacturing machines for locks.
· The major products include Upper, Key-making, Driller, Assembler, Padlock making, Door lock-making and so on.
· Subject’s sales region covers Asia, Europe, America, Australia and Africa.
· Subject’s major customers are manufactures of locks and etc.
· Subject can provide OEM and ODM services.
· Subject has many customers such as “Taiwan Fusing”, “E-Z set”, “ Great more”, “I-tek in Taiwan” , “Siam Baico” in Thailand, “Gainsborough” in Australia, “Adeep” in India , “Wesko” in Canada, “Fanal” in Mexico and also has many customers in Mainland China such as “Eversafe”, “Janes’, “Infinity”, “Dura’, “Tanyale” and etc.
· It is introduced that subject is an agent of products from the companies named “Giuliani” and “Maromatic”
Import and export
right:
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Import right |
Yes |
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Export right |
Yes |
PURCHASE
Domestic Purchase
|
Products |
Components and etc |
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Payment Terms |
Cash, T/T and etc |
Import
|
Products |
Components, locks and related manufacturing
machines for locks. |
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Payment Terms |
L/C, T/T and etc |
SALES
Domestic Markets
|
Product |
Locks and related manufacturing machines for
locks. |
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Selling Terms |
Cash, T/T and etc |
Export
|
Product |
Components, locks and related manufacturing
machines for locks. |
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Selling Terms |
L/C, T/T and etc |
Subject has no obligations to disclose its
financial statements to the third party according to the relevant policy in Taiwan
and the only source from which we can obtain the information is the subject
itself.
Subject’s relevant staff Ms. Chen declined to
disclose its financials citing the grounds of company’s confidentiality; from
other sources we could not obtain such information, either.
Subject declined to disclose its bank details; from other source we
could not obtain the relevant information, either.
Mortgage
No chattel mortgage record of subject has been found within the recent 3
months.
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1 |
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Trial Number: |
2012,Xiongxiao,519 |
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Date of Trial: |
2012-5-21 |
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Reason: |
Restitution of unjust enrichment |
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Claimant: |
Chieh Yung Automation Corp. |
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Defendant: |
Allianz Taiwan Life Insurance Co., Ltd |
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2 |
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Trial Number: |
2012,Xiongxiao,923 |
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Date of Trial: |
2012-5-31 |
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Reason: |
Restitution of unjust enrichment |
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3 |
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Trial Number: |
2012,Xiongxiao,680 |
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Date of Trial: |
2012-5-31 |
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Reason: |
Returns of insurance expense |
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Claimant: |
Chieh Yung Automation Corp. |
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Defendant: |
Allianz Taiwan Life Insurance Co., Ltd |
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4 |
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Trial Number: |
2012,Xiongxiao,239 |
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Date of Trial: |
2012-6-1 |
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Reason: |
Restitution of unjust enrichment |
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Claimant: |
Chieh Yung Automation Corp. |
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Defendant: |
Allianz Taiwan Life Insurance Co., Ltd |
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5 |
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Trial Number: |
2012,Xiongxiao,434 |
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Date of Trial: |
2012-6-1 |
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Reason: |
Payment for damages |
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Claimant: |
Chieh Yung Automation Corp. |
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Defendant: |
Allianz Taiwan Life Insurance Co., Ltd |
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6 |
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Trial Number: |
2012,Xiongxiao,1291 |
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Date of Trial: |
2012-8-8 |
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Reason: |
Payment for damages |
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Claimant: |
Chieh Yung Automation Corp. |
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Defendant: |
Allianz Taiwan Life Insurance Co., Ltd |
Interview Details
|
Name |
Ms. Chen |
|
Department |
Sales Department |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.42 |
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|
1 |
Rs.92.99 |
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Euro |
1 |
Rs.67.29 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.