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MIRA INFORM REPORT
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Report No. : |
486201 |
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Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
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Name : |
HERAEUS LIMITED |
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Registered Office : |
Heraeus Technology Centre, 30 On Chuen Street, On Lok Tsuen, Fanling,
New Territories |
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Country : |
Hongkong |
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Date of Incorporation : |
14.05.1974 |
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Com. Reg. No.: |
04180246 |
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Legal Form : |
Private Limited Company. |
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Line of Business : |
Importer, Exporter and Wholesaler of Chemical Products and Additives. |
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No. of Employees : |
150 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A+ |
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Credit Rating |
Explanation |
Rating Comments |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Hongkong |
A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
HONGKONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of reexports, is about four times GDP. Hong Kong has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983.
Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China through trade, tourism, and financial links aided a more rapid initial recovery than many observers anticipated, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy.
The Hong Kong Government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 9.4% of total system deposits in Hong Kong by the end of 2015. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota.
The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's total trade by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. Mainland visitors to Hong Kong declined 3% in 2015 to approximately 45.7 million, reflecting an overall drop of 2.5% in total visitors to Hong Kong. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2015, mainland Chinese companies constituted about 51% of the firms listed on the Hong Kong Stock Exchange and accounted for about 62.1% of the exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. In 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
Credit expansion and a tight housing supply have caused Hong Kong property prices to rise rapidly; consumer prices increased 4.4% in 2014, but slowed to 2.9% in 2015. Lower- and middle-income segments of the population are increasingly unable to afford adequate housing.
Hong Kong’s economic integration with the mainland continues to be most evident in the banking and finance sector. Initiatives like the Hong Kong-Shanghai Stock Connect, the Mutual Recognition of Funds, and The Hong Kong Shanghai Gold Connect are all important steps towards opening up the Mainland’s capital markets and has reinforced Hong Kong’s leading role as China’s offshore RMB market. Additional connect schemes from bonds to commodities and other investment products are also under exploration by Hong Kong authorities.
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Source
: CIA |
Company
name and address
HERAEUS
LIMITED
ADDRESS: Heraeus
Technology Centre, 30 On Chuen Street, On Lok Tsuen, Fanling, New
Territories,
Hong Kong.
PHONE: 852-2675
1200
FAX: 852-2682
3220
E-MAIL: hlh@vol.net
MANAGEMENT
Managing Director:
Mr. Michael Rexhausen
SUMMARY
Incorporated on: 14th May, 1974.
Organization: Private Limited Company.
Issued Share Capital: HK$288,240,000.00
Business Category: Importer,
Exporter and Wholesaler.
Group Revenue Excluding Precious Metals:
EUR 2.0
billion (Year ended 2016)
Employees: 150.
Main Dealing Banker: Bank
of China (Hong Kong) Ltd., Hong Kong.
Banking Relation: Good.
ADDRESS
Heraeus Technology
Centre, 30 On Chuen Street, On Lok Tsuen, Fanling, New Territories, Hong Kong.
Branch Office:-
Room 2112-2113, 21/F., Peninsula Square, 18 Sung On
Street, Hunghom, Kowloon, Hong Kong.
Holding Company:-
Heraeus Beteiligungsverwaltungsgesellschaf mbH, Germany.
Ultimate Holding
Company:-
Heraeus Holding GmbH, Germany.
Associated/Affiliated
Companies:-
Heraeus Group of
Companies
Fukui Shin-Etsu Quartz Co. Ltd., Japan.
Heraeus (China) Investment Co. Ltd., China.
Heraeus (Thailand) Ltd., Thailand.
Heraeus (Zhaoyuan) Precious Metal Materials Co. Ltd.,
China.
Heraeus CZ s.r.o., Czech Republic.
Heraeus Deutschland GmbH & Co. KG, Germany.
Heraeus Drijfhout B.V., Netherlands.
Heraeus Electronic Materials Philippines Inc.,
Philippines.
Heraeus Electro-Nite (Aust.) Pty. Ltd., Australia.
Heraeus Electro-Nite (U.K.) Ltd., U.K.
Heraeus Electro-Nite AB, Sweden.
Heraeus Electro-Nite Canada Ltd., Canada.
Heraeus Electro-Nite Co. LLC, U.S.
Heraeus Electro-Nite Espana, S.L., Spain.
Heraeus Electro-Nite France S.A.R.L, France.
Heraeus Electro-Nite GmbH & Co. KG, Germany.
Heraeus Electro-Nite Instrumentos Ltda., Brazil.
Heraeus Electro-Nite International N.V, Finland.
Heraeus Electro-Nite International N.V., Austria.
Heraeus Electro-Nite International N.V., Belgium.
Heraeus Electro-Nite International N.V., Romania.
Heraeus Electro-Nite Italy S.r.L., Italy.
Heraeus Electro-Nite Japan Ltd., Japan.
Heraeus Electro-Nite L.L.C., Russia.
Heraeus Electro-Nite Mexicana S.A. de C.V., Mexico.
Heraeus Electro-Nite Pty. Ltd., South Africa.
Heraeus Electro-Nite Shanghai Co. Ltd., China.
Heraeus Electro-Nite Taicang Co. Ltd., China.
Heraeus Electro-Nite Taiwan Ltd., Taiwan.
Heraeus Electro-Nite Termoteknik Sanayi ve Ticaret A.S.,
Turkey.
Heraeus Electro-Nite Ukraina LLC, Ukraine.
Heraeus Hellas Monoprosopi EPE (GmbH), Greece.
Heraeus Incorporated, U.S.
Heraeus K.K., Japan.
Heraeus Korea Corp, Korea.
Heraeus Kulzer Austria GmbH, Austria.
Heraeus Materials Ltd., U.K.
Heraeus Materials Malaysia Sdn. Bhd., Malaysia.
Heraeus Materials Singapore Pte. Ltd., Singapore.
Heraeus Materials Technology North America LLC, U.S.
Heraeus Materials Technology Shanghai Ltd., China.
Heraeus Materials Technology Taiwan Ltd., Taiwan.
Heraeus Medical Australia Pty Ltd., Australia.
Heraeus Medical Belgium, Belgium.
Heraeus Medical Components, Costa Rica.
Heraeus Medical Components, Germany.
Heraeus Medical Components, Puerto Rico.
Heraeus Medical Poland Sp. z o.o., Poland.
Heraeus Medical Schweiz AG, Switzerland.
Heraeus Metal Processing Ltd., Ireland.
Heraeus Metals (Shanghai) Co. Ltd., China.
Heraeus Metals Germany GmbH & Co. KG, Germany.
Heraeus Metals Hong Kong Ltd., Hong Kong.
Heraeus Metals New York LLC, U.S.
Heraeus Noblelight (Shenyang) Ltd., China.
Heraeus Noblelight America LLC, U.S.
Heraeus Noblelight Australia Pty. Ltd., Australia.
Heraeus Noblelight GmbH, Germany.
Heraeus Noblelight Ltd., U.K.
Heraeus Noblelight, Spain.
Heraeus Oriental HiTec Co. Ltd., Korea.
Heraeus Precious Metals North America LLC, U.S.
Heraeus Quartz America LLC, U.S.
Heraeus Quarzglas GmbH & Co. KG, Germany.
Heraeus Recycling Technology (Taicang) Co. Ltd., China.
Heraeus Romania S.R.L., Romania.
Heraeus S.A., Spain.
Heraeus S.A.S., France.
Heraeus S.p.A., Italy.
Heraeus ShinEtsu Quartz China Inc., China.
Heraeus Shin-Etsu Quartz Singapore Pte. Ltd., Singapore.
Heraeus South Africa (Pty.) Ltd., South Africa.
Heraeus Technologies India Pvt Ltd., India.
Heraeus Tenevo LLC, U.S.
Heraeus Tokmak A. S., Turkey.
Heraeus Zhaoyuan Changshu Electronic Materials Co. Ltd.,
China.
HS Advanced Materials Co. Ltd., Korea.
PT Heraeus Materials Indonesia, Indonesia.
Ravindra Heraeus Private Ltd., India.
Shin-Etsu Quartz Prod. Co. Ltd., Japan.
Topco Quartz Products Co. Ltd, Taiwan.
Woojin Electro-Nite Inc., Korea.
Young Shin Quartz Co. Ltd., Korea.
etc.
BUSINESS
REGISTRATION NUMBER
04180246
COMPANY
FILE NUMBER
0038322
MANAGEMENT
Managing Director:
Mr. Michael
Rexhausen
Contact Person: Ms. Zoe Tsang
ISSUED
SHARE CAPITAL
HK$288,240,000.00 (2,882,400 fully paid ordinary shares)
SHAREHOLDERS
(As per registry
dated 14-05-2017)
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Name |
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No. of shares |
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Heraeus Beteiligungsverwaltungsgesellschaf mbH Heraeusstrabe 12-14, D-63450 Hanau, Federal, Germany. |
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2,882,400 ======= |
DIRECTORS
(As per registry
dated 14-05-2017)
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Name (Nationality) |
Address |
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Michael REXHAUSEN |
Agricolaweg 5, 61381 Friedrichsdorf-Seulberg, Germany. |
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Christl ANDRE |
AM Maintor 3, 63456 Hanau-Steinheim, Germany. |
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Ernst Marius VIGENER |
Oberhoechstadter Street 32, 61440 Oberursel (Taunus)
Germany. |
SECRETARY
(As per registry dated 14-05-2017)
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Name |
Address |
Co. No. |
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LLL Secretarial Services Ltd. |
Suite 5608, 56/F., Central Plaza, 18 Harbour Road,
Wanchai, Hong Kong. |
0707004 |
HISTORY
The subject was
incorporated on 14th May, 1974 as a private limited liability company under the
Hong Kong Companies Ordinance.
Originally the
subject was registered under the name of Pacific Platers Ltd., name changed to
Heraeus Pacific Platers Ltd. on 17th February, 1984 and further changed to the
present style on 11th April, 1986.
Apart from these,
neither material change nor amendment has been ever traced and noted.
OPERATIONS
Activities: Importer,
Exporter and Wholesaler.
Lines: Chemical
products and additives.
Brand Name: Heraeus.
Employees: 150.
Commodities Imported: US,
Germany and acquired from local suppliers, etc.
Markets: Asian
countries, Europe, North America, Middle East, etc.
Group Revenue Excluding Precious Metals:
EUR 1,929
million (Year ended 2015)
EUR 2,005
million (Year ended 2016)
EUR 2,050
million (Year ended 2017)[Estimated]
Terms/Sales: Various terms.
Terms/Buying: As per contracted.
GOVERNMENT CONTRACTS AWARDED SINCE 2000
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Date |
GN No. |
Tender
Board – Department |
Amount |
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07-09-2012 |
GN6027 |
Lands Dept. |
HK$33,000 |
MEMBERSHIP
The Hong Kong General Chamber of Commerce,
Hong Kong.
[Membership No. HKH0122]
FINANCIAL
INFORMATION
Issued Share Capital: HK$288,240,000.00
(2,882,400 fully paid ordinary shares)
Profit or Loss: Making
a small profit every year.
Condition: Keeping in a good manner.
Facilities: Making rather active use of
general banking facilities.
Payment: Met trade commitments as
required.
Commercial Morality:
Satisfactory.
Bankers:-
Bank of China
(Hong Kong) Ltd., Hong Kong.
Wing Hang Bank Ltd.,
Hong Kong.
Standing: Good.
GENERAL
Heraeus Limited is a
wholly-owned subsidiary of Heraeus Beteiligungsverwaltungsgesellschaf mbH which
is a Germany-based company.
According to the
subject, it is trading in the following products:-
· Karat Gold Alloy Additives (Heraeus/US)
· Liquid Gold (Heraeus/Germany)
· Ceramic Colours (Heraeus/Germany)
· Solder Paste (Heraeus/Germany)
· Surface Mount Adhesives (Heraeus/Germany)
· Lusters (Heraeus/Germany)
· Gold Potassium Cyanide (Heraeus/Hong Kong)
· Palladium Plating Salt (Heraeus/Hong Kong)
· Silver Potassium Cyanide (Heraeus/Hong Kong)
Most of the products
bear the trade mark of Heraeus.
Commodities are
marketed in Hong Kong, China and exported to Singapore, Thailand, other Asian
countries, etc. Business is rather
active.
Besides, the subject
operates a refinery and a precious metal manufacturing facility at the Heraeus
Technology Centre in Fanling, New Territories and Trading business with an
office in Hunghom, Kowloon.
As the regional
leader in processing and refining of precious metals, the subject procures and
processes its refining materials from various industries throughout the
Asia-Pacific region. Precious metals
recovered in its refinery are converted into bullion products and precious
metal chemicals. Master alloys, karat
gold alloys and platinum alloys complete the subject’s full range of products
for the jewellery industry.
The subject in Hong
Kong also offers ceramic decorative materials in the form of gold paste, liquid
gold and luster for the glass, ceramic, porcelain and tile industry; and
conductive polymers under the brand name Clevios™ PEDOT:PSS, serving the
industries include solar, automotive, glass, optics, electronics, OLED and
display.
The annual sales
turnover of the subject ranges from HK$100 to 500 million.
The subject is a
member of the Heraeus Group, wholly owned by Heraeus Holding GmbH, specializing
in the precious metals business. Its
principal businesses include the refining, trading, manufacturing and marketing
of precious metals either as pure metals or as products. Heraeus, the technology group headquartered
in Hanau, Germany, is a leading international family-owned company formed in
1851.
The Group’s ideas are
focused on important issues such as the environment, energy, health, mobility
and industrial applications. Its
portfolio ranges from components to coordinated material systems which are used
in a wide variety of industries, including the steel, electronics, chemical,
automotive and telecommunications industries.
The Heraeus Group is
engaged in the following business scope which include 11 sectors:-
· Heraeus Chemicals;
· Heraeus Electronics;
· Heraeus Electro-Nite;
· Heraeus Medical;
· Heraeus Medical Components;
· Heraeus Metal Management;
· Heraeus New Businesses;
· Heraeus Noblelight;
· Heraeus Performance Products;
· Heraeus Photovoltaics; &
· Heraeus Quarzglas.
In the 2016 financial
year, Heraeus generated revenues without precious metals of €2.0 billion (2015:
€1.9 billion) and a total revenue of €21.5 billion (2015: €12.9 billion). It is predicted that the total revenue of Heraeus
in 2017 is also about €2.0 billion.
With approximately
12,369 employees worldwide in more than 100 subsidiaries in 38 countries,
Heraeus holds a leading position in its global markets.
Heraeus has been
present and active in the Greater China region, one of its top 3 markets, for
more than 41 years.
In 2016, the
Foundation for Family Businesses named Heraeus as one of the “Top 10 Family
Businesses” in Germany.
In order to penetrate
the international market further, the subject has taken part in fairs and
exhibitions held in Hong Kong and other foreign large cities.
For instance, it is
going to take part in “HKTDC Hong Kong International Jewellery Show 2018” which
will be held in Hong Kong Convention and Exhibition Centre, Wanchai, Hong Kong
during the period of 1st to 5th March, 2018.
Its booth No. is CEC 5B-A02.
The subject is fully
supported by Heraeus. History in Hong
Kong is over 43 years and eight months.
On the whole,
consider the subject good for normal business engagements.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.98 |
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1 |
INR 88.13 |
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Euro |
1 |
INR 78.35 |
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HKD |
1 |
INR 8.17 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low risk
of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably on
secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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.