|
|
|
MIRA INFORM REPORT
|
Report No. : |
483818 |
|
Report Date : |
01.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
A.P. CHEMICALS NV |
|
|
|
|
Registered Office : |
Berchemstadionstraat
78-Bus 6, 2600 Antwerpen |
|
|
|
|
Country : |
Belgium |
|
|
|
|
Financials (as on) : |
31.12.2016 |
|
|
|
|
Date of Incorporation : |
16.07.1990 |
|
|
|
|
Com. Reg. No.: |
441839057 |
|
|
|
|
Legal Form : |
Public Limited Company |
|
|
|
|
Line of Business : |
Agents involved in the sale of fuels, ores, metals and industrial
chemicals |
|
|
|
|
No. of Employees : |
4 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
Belgium |
A2 |
A2 |
|
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 |
BELGIUM - ECONOMIC OVERVIEW
Belgium’s central geographic location and highly developed transport
network have helped develop a well-diversified economy, with a broad mix of transport,
services, manufacturing, and high tech. Industry is concentrated mainly in the
more heavily-populated region of Flanders in the north. Belgium is 100% reliant
on foreign sources of fossil fuels, and the planned closure of its seven
nuclear plants by 2025 should increase its dependence on foreign energy. Its
role as a regional logistical hub makes its economy vulnerable to shifts in
foreign demand, particularly with EU trading partners. Roughly three-quarters
of Belgium's trade is with other EU countries.
Belgium’s GDP grew by 1.4% in 2016, unemployment at yearend was 8.4%,
and the budget deficit was 2.7% of GDP. The economy largely recovered from the
March 2016 terrorist attacks, which mainly impacted the Brussels region tourist
and hospitality industry. Prime Minister Charles MICHEL's center-right
government has pledged to further reduce the deficit in response to EU pressure
to decrease Belgium's high public debt of about 107% of GDP, but such efforts
could also dampen economic growth. In addition to restrained public spending,
low wage growth and higher inflation promise to curtail a more robust recovery
in private consumption.
The government has pledged to pursue a reform program to improve
Belgium’s competitiveness, including changes to tax policy, labor market rules,
and welfare benefits. These changes have generally made Belgian wages more
competitive regionally, but risk worsening tensions with trade unions and
triggering extended strikes.
|
Source
: CIA |
Company
summary
Business
number 441839057
Branche
Unit Number 2049258127
Company
name A.P. CHEMICALS NV
Address
BERCHEMSTADIONSTRAAT 78-BUS
6
2600 ANTWERPEN
Date
of establishment 16/07/1990
Telephone
number 3232016220
Mobile
number -
Fax
number 032016230
Liable
for VAT Yes
VAT
Number BE.0441.839.057 Check VAT
number
Commentary
The
business was established over 27 years ago.
The
business has 4 employees.
The
business is part of a group.
The
business has been at the address for over 16 months.
Operating
Result in the latest trading period increased 27% on the previous trading
period.
A
22% growth in Total Assets occurred during the latest trading period.
Pre-tax profits
decreased by 32% compared to the previous trading period.
ANNUAL ACCOUNTS
|
DATE OF
LATEST ACCOUNTS |
TURNOVER |
PROFIT
BEFORE TAX |
NET WORTH |
WORKING
CAPITAL |
|
31/12/2016 |
|
479,523 |
2,211,671 |
2,452,065 |
|
31/12/2015 |
|
715,224 |
2,792,552 |
3,015,453 |
|
31/12/2014 |
|
496,182 |
3,223,958 |
3,399,898 |
|
|
|
|
|
|
|
ACCOUNTS |
|
|
|
|
|
DATE
OF LATEST ACCOUNTS |
BALANCE
TOTAL |
NUMBER
OF EMPLOYEES |
CAPITAL |
CASHFLOW |
|
31/12/2016 |
8,123,270 |
4 |
81,805 |
341,411 |
|
31/12/2015 |
6,637,589 |
3 |
81,805 |
500,716 |
|
31/12/2014 |
6,962,298 |
3 |
81,805 |
344,297 |
Payment
expectations
|
||||
|
Past payments |
|
Payment expectation days |
- |
|
|
Industry average payment expectation days |
118.49 |
Industry average day sales
outstanding |
91.31 |
|
|
Day sales outstanding |
- |
|
|
|
Court
data summary
|
BANKRUPTCY DETAILS |
||||
|
Court action type |
No |
|
|
|
|
PROTESTED BILLS |
||||
|
Bill amount |
||||
|
NSSO DETAILS |
||||
|
Date of summons |
-- |
|
|
|
Company
information
|
Business
Number |
441839057 |
Company
Name |
A.P. CHEMICALS NV |
|
Fax Number |
032016230 |
Date
Founded |
16/07/1990 |
|
Company
Status |
active |
Company
Type |
Public Limited Company |
|
Currency |
Euro (€) |
Date
of Latest Accounts |
31/12/2016 |
|
Activity
Code |
46120 |
Number
of Staff |
4 |
|
Activity
Description |
Agents involved in the sale of fuels, ores,
metals and industrial chemicals |
|
|
|
Belgian
Bullettin of Acts Publications |
Moniteur Belge |
|
|
Joint
Industrial Committee (JIC)
JIC
Code 116
Description
Joint committee for the chemical industry
category
JIC
Code 207
Description
Joint committee for the employees off he
chemical industry
category
SIGNIFICANT
EVENTS
Event
Date 30/06/2012
Event
Description Re-appointment of
director(s)
Event
Details Commentaar 30-06-2012:
Herbenoemd als bestuurders tot de algemene vergadering van
2018 : JMS Enterprises BV (tevens gedelegeerd
bestuurder), Setiawan Fanny en Witarsa Melani.
Company
accounts
|
Assets |
|
|
|
|
|
|
|
|
|
|
Annual accounts |
31-12-2016 |
% |
31-12-2015 |
% |
31-12-2014 |
% |
31-12-2013 |
% |
31-12-2012 |
|
Weeks |
52 |
|
52 |
|
52 |
|
52 |
|
52 |
|
Currency |
EUR |
|
EUR |
|
EUR |
|
EUR |
|
EUR |
|
Total fixed assets |
6,223 |
-73.56 |
23,540 |
-47.74 |
45,047 |
-31.06 |
65,343 |
-29.31 |
92,437 |
|
Intangible fixed assets |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Tangible fixed assets |
6,186 |
-73.68 |
23,502 |
-47.78 |
45,009 |
-31.08 |
65,305 |
-29.32 |
92,399 |
|
Land & building |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Plant & machinery |
0 |
- |
0 |
-100 |
182 |
-55.56 |
409 |
-82.22 |
2,298 |
|
Furniture & Vehicles |
2,897 |
-82.08 |
16,166 |
-51.66 |
33,443 |
-32.39 |
49,463 |
-28.86 |
69,529 |
|
Leasing & Other Similar Rights |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other tangible assets |
3,288 |
-55.18 |
7,337 |
-35.56 |
11,385 |
-26.23 |
15,433 |
-24.98 |
20,573 |
|
Financial fixed assets |
38 |
0 |
38 |
0 |
38 |
0 |
38 |
0 |
38 |
|
Total current assets |
8,117,046 |
22.72 |
6,614,049 |
-4.38 |
6,917,251 |
-19.88 |
8,633,986 |
-9.08 |
9,496,319 |
|
Inventories |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Raw materials & consumables |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Work in progress |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Finished goods |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Other stocks |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade debtors |
3,828,731 |
77.75 |
2,154,033 |
27.89 |
1,684,259 |
-63.71 |
4,640,803 |
-2.64 |
4,766,438 |
|
Other amounts receivable |
27,612 |
14.65 |
24,085 |
-95.74 |
564,906 |
7724 |
7,220 |
114 |
3,366 |
|
Cash |
4,218,666 |
-4.90 |
4,435,932 |
16.53 |
3,806,679 |
51.25 |
2,516,881 |
-18.38 |
3,083,655 |
|
Miscellaneous current assets |
42,036 |
- |
0 |
-100 |
861,406 |
-6.28 |
919,083 |
-13.93 |
1,067,860 |
|
Total Assets |
8,123,270 |
22.38 |
6,637,589 |
-4.66 |
6,962,298 |
-19.97 |
8,699,329 |
-9.28 |
9,588,756 |
|
Liabilities |
|
|
|
|
|
|
|
|
|
|
Total shareholders equity |
2,211,671 |
-20.80 |
2,792,552 |
-13.38 |
3,223,958 |
11.08 |
2,902,346 |
7.24 |
2,706,390 |
|
Issued share capital |
81,805 |
0 |
81,805 |
0 |
81,805 |
0 |
81,805 |
0 |
81,805 |
|
Share premium account |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Revaluation reserve |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Reserves |
2,129,866 |
-21.43 |
2,710,748 |
-13.73 |
3,142,153 |
11.40 |
2,820,541 |
7.47 |
2,624,585 |
|
Provisions for Liabilities & Charges |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Deffered taxes |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Creditors |
5,911,598 |
53.75 |
3,845,037 |
2.85 |
3,738,340 |
-35.51 |
5,796,982 |
-15.77 |
6,882,366 |
|
Other long term loans |
246,617 |
0.07 |
246,441 |
11.52 |
220,987 |
-57.86 |
524,472 |
-57.89 |
1,245,490 |
|
Other long term liabilities |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Total long term debts |
246,617 |
0.07 |
246,441 |
11.52 |
220,987 |
-57.86 |
524,472 |
-57.89 |
1,245,490 |
|
Current portion of long term debt |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Financial debts |
0 |
- |
0 |
- |
0 |
- |
0 |
- |
0 |
|
Trade creditors |
3,648,807 |
89.24 |
1,928,160 |
-40.44 |
3,237,577 |
-36.98 |
5,137,575 |
-1.87 |
5,235,420 |
|
Amounts Payable for Taxes, Remuneration
& Social Security |
670,100 |
2.17 |
655,873 |
135 |
278,359 |
133 |
119,038 |
49.97 |
79,372 |
|
Miscellaneous current liabilities |
1,346,075 |
32.68 |
1,014,563 |
71514 |
1,417 |
-91.09 |
15,897 |
-95.06 |
322,083 |
|
Total current liabilities |
5,664,981 |
57.42 |
3,598,596 |
2.31 |
3,517,353 |
-33.29 |
5,272,510 |
-6.46 |
5,636,876 |
|
Total Liabilities |
8,123,270 |
22.38 |
6,637,589 |
-4.66 |
6,962,298 |
-19.97 |
8,699,329 |
-9.28 |
9,588,756 |
|
RATIO
ANALYSIS |
|||||||||
|
TRADING
PERFORMANCE |
|
|
|
|
|
|
|
|
|
|
Profit Before Tax |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Return on capital employed |
19.51 |
-17.08 |
23.53 |
63.40 |
14.40 |
84.14 |
7.82 |
75.73 |
4.45 |
|
Return on total assets employed |
5.90 |
-45.27 |
10.78 |
51.19 |
7.13 |
131 |
3.08 |
68.31 |
1.83 |
|
Return on net assets employed |
21.68 |
-15.35 |
25.61 |
66.41 |
15.39 |
66.56 |
9.24 |
42.37 |
6.49 |
|
Sales / net working capital |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Stock turnover ratio |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Creditor days |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Debtor days |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
SHORT
TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Current ratio |
1.43 |
-22.28 |
1.84 |
-6.60 |
1.97 |
20.12 |
1.64 |
-2.38 |
1.68 |
|
Liquidity ratio / acid ratio |
1.43 |
-22.28 |
1.84 |
-6.60 |
1.97 |
20.12 |
1.64 |
-2.38 |
1.68 |
|
Current debt ratio |
2.56 |
98.45 |
1.29 |
18.35 |
1.09 |
-40.11 |
1.82 |
-12.50 |
2.08 |
|
Cashflow |
341,411 |
-31.82 |
500,716 |
45.43 |
344,297 |
54.27 |
223,176 |
9.72 |
203,414 |
|
Net worth |
2,211,671 |
-20.80 |
2,792,552 |
-13.38 |
3,223,958 |
11.08 |
2,902,346 |
7.24 |
2,706,390 |
|
LONG
TERM STABILITY |
|
|
|
|
|
|
|
|
|
|
Gearing |
11.15 |
26.42 |
8.82 |
28.76 |
6.85 |
-62.09 |
18.07 |
-60.73 |
46.02 |
|
Equity in percentage |
27.23 |
-35.27 |
42.07 |
-9.16 |
46.31 |
38.82 |
33.36 |
18.21 |
28.22 |
|
Total debt ratio |
2.67 |
93.48 |
1.38 |
18.97 |
1.16 |
-42.00 |
2.00 |
-21.26 |
2.54 |
|
Working capital |
2,452,065 |
-18.68 |
3,015,453 |
-11.31 |
3,399,898 |
1.14 |
3,361,476 |
-12.90 |
3,859,443 |
|
PROFIT
& LOSS |
|||||||||
|
Operating Income |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Turnover |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Total operating expenses |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Gross Operating Margin |
1,136,031 |
20.50 |
942,797 |
2.59 |
919,004 |
53.38 |
599,167 |
93.00 |
310,444 |
|
Operating Charges |
0 |
- |
- |
- |
- |
- |
- |
- |
- |
|
Employee costs |
215,128 |
30.81 |
164,454 |
-9.61 |
181,934 |
0.54 |
180,953 |
-15.97 |
215,350 |
|
Wages and salary |
- |
- |
123,976 |
-7.41 |
133,901 |
-5.22 |
141,277 |
-11.18 |
159,059 |
|
Employee pension costs |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Social security contributions |
- |
- |
29,423 |
-11.62 |
33,289 |
-2.47 |
34,133 |
-13.88 |
39,634 |
|
Other employee costs |
215,128 |
1845 |
11,056 |
-25.01 |
14,743 |
165 |
5,544 |
-66.72 |
16,657 |
|
Director remuneration |
- |
- |
- |
- |
- |
- |
- |
- |
- |
|
Amortization and depreciation |
21,392 |
0.33 |
21,322 |
-6.01 |
22,685 |
-16.66 |
27,219 |
-12.67 |
31,170 |
|
Operating result |
894,987 |
27.33 |
702,890 |
-0.88 |
709,164 |
83.55 |
386,359 |
396 |
-97,444 |
|
Total financial income |
372,554 |
3.74 |
359,139 |
-46.06 |
665,785 |
38.05 |
482,292 |
230 |
145,801 |
|
Total financial expenses |
769,763 |
121 |
346,805 |
-60.54 |
878,766 |
46.32 |
600,585 |
471 |
-127,321 |
|
Results on ordinary operations before
taxation |
479,523 |
-32.95 |
715,224 |
44.15 |
496,182 |
85.10 |
268,066 |
52.59 |
175,678 |
|
Extraordinary Income |
18,255 |
- |
- |
- |
- |
- |
- |
- |
28,009 |
|
Extraordinary Charges |
- |
- |
185 |
- |
- |
- |
1,622 |
152 |
643 |
|
Extraordinary items |
18,255 |
9861 |
-185 |
- |
- |
- |
-1,622 |
-105 |
27,365 |
|
Results for the Year Before Taxation |
497,779 |
-30.38 |
715,039 |
44.11 |
496,182 |
86.22 |
266,443 |
31.22 |
203,044 |
|
Taxation |
177,760 |
-24.56 |
235,644 |
34.99 |
174,571 |
147 |
70,487 |
128 |
30,799 |
|
Results on ordinary operations after
taxation |
301,763 |
-37.08 |
479,580 |
49.12 |
321,612 |
62.78 |
197,579 |
36.38 |
144,879 |
|
Net result |
320,019 |
-33.25 |
479,394 |
49.06 |
321,612 |
64.12 |
195,957 |
13.77 |
172,244 |
|
Profit (Loss) for the Year to
be appropiated |
320,019 |
-33.25 |
479,394 |
49.06 |
321,612 |
64.12 |
195,957 |
13.77 |
172,244 |
|
Dividends |
900,900 |
-1.09 |
910,800 |
- |
- |
- |
- |
- |
- |
Social BALANCE SHEET DETAILS
|
Social
Balance Sheet |
Total |
|
During
the reporting year |
|
|
ended
31-12-2016 |
|
|
Full-time
Employees |
2 |
|
Part-time
Employees |
3 |
|
Total
Fte Employees |
4 |
|
|
|
|
Number
of hours worked |
|
|
Full-time
Employees |
1,882 |
|
Part-time
Employees |
3,023 |
|
Total |
4,905 |
|
|
|
|
Personnel
Charges |
|
|
Full-time
Employees |
82,543 |
|
Part-time
Employees |
132,586 |
|
Total |
215,128 |
|
Benefits
In Addition To Wages |
- |
|
|
|
|
During
the previous reporting year |
|
|
Average
number employees in Fte |
3 |
|
Actual
working hours |
4,253 |
|
Personnel
Charges |
164,454 |
|
Benefits
In Addition To Wages |
- |
|
Type
of Contract |
Full-Time |
Part-Time |
Total
Fte |
|
Unlimited
Duration Contracts |
2 |
2 |
3 |
|
Limited
Duration Contracts |
- |
1 |
1 |
|
Gender
and Education Level |
|
|
|
|
Men |
Full-Time |
Part-Time |
Total
Fte |
|
Primary education |
- |
- |
- |
|
Secondairy
education |
- |
1 |
0 |
|
|
|
|
|
|
Women |
Full-Time |
Part-Time |
Total
Fte |
|
Primary
education |
1 |
1 |
2 |
|
Secondairy
education |
1 |
1 |
2 |
|
Working
Category |
Full-Time |
Part-Time |
Total
Fte |
|
Management |
- |
- |
- |
|
White
collar worker |
2 |
3 |
4 |
|
Blue
collar worker |
- |
- |
- |
|
New
staff and leavers |
Full-Time |
Part-Time |
Total
Fte |
|
New
Starters |
- |
1 |
1 |
|
Leavers |
- |
1 |
1 |
Industry
comparison
|
|
|
Activity code |
46120 |
|
Activity description |
Agents involved in the sale of fuels, ores,
metals and industrial chemicals |
Payment
expectations
|
|
|
Payment expectation days |
- |
|
Day sales outstanding |
- |
|
|
|
|
Industry
comparison |
|
|
Activity code |
46120 |
|
Activity description |
Agents involved in the sale of fuels, ores,
metals and industrial chemicals |
|
Industry average payment expectation days |
118.49 |
|
Industry average day sales outstanding |
91.31 |
|
Industry quartile analysis |
|
|
Payment
expectations |
|
|
Company result |
- |
|
Lower |
79.45 |
|
Median |
36.20 |
|
Upper |
13.41 |
|
|
|
|
Day sales
outstanding |
|
|
Company result |
- |
|
Lower |
104.84 |
|
Median |
55.73 |
|
Upper |
25.30 |
Shareholder
details
Group Structure
|
Company
Name |
Number |
Latest
Financials |
|
- A.P. CHEMICALS NV |
441839057 |
31-12-2016 |
|
- - JMS ENTERPRISES B.V. |
34087420 |
31-12-2016 |
Minority Shareholders
No minority shareholders found
Minority Interests
No
minority interests found
Summons
There is no data for this company
Protested Bills
There is no data for this company
Bankruptcy and other legal events
There is no data for this company
Director
details
CURRENT DIRECTOR
DETAILS
|
Position |
Director |
|
Start Date |
01/08/2017 |
|
|
|
|
Name |
MOL & MORCHANT B.V. BO |
|
Name |
Tek Na |
|
Position |
Director |
|
Start Date |
01/01/2015 |
|
Street |
19 Mechelsesteenweg Antwerpen |
|
Post code |
2018 |
|
Country |
Belgium |
|
|
|
|
Name |
JMS ENTERPRISE BV ENT E |
|
Position |
Director |
|
Start Date |
13/12/2001 |
|
Name |
Michael Oen |
|
Position |
Permanent representative legal entity |
|
Start Date |
01/08/2017 |
|
|
|
|
Name |
Giok Liem |
|
Position |
Permanent representative legal entity |
|
Start Date |
13/12/2001 |
FORMER DIRECTOR DETAILS
|
Name |
PETER BELSKY |
|
Position |
Director |
|
Start Date |
01/01/2015 |
|
End Date |
01/08/2017 |
|
Street |
9204 Emmott Road Houston - Texas |
|
Country |
United States |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.93 |
|
|
1 |
INR 86.07 |
|
Euro |
1 |
INR 76.39 |
|
Euro |
1 |
INR 76.52 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.