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MIRA INFORM REPORT
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Report No. : |
517108 |
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Report Date : |
28.06.2018 |
IDENTIFICATION DETAILS
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Name : |
OOH ALAI PARTS CENTER LIMITED PARTNERSHIP |
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Registered Office : |
232/1 Moo 1, Suksawad Road, T. Laemfapha, A. Phrasamutjedee, Samutprakarn 10290 |
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Country : |
Thailand |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
24.06.1968 |
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Com. Reg. No.: |
0103511009439 |
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Legal Form : |
Limited
Partnership |
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Line of Business : |
The subject is
engaged in manufacturing, distributing and
exporting various kinds
of motorcycle parts
and accessories such
as brake, back
mirror, handle bar,
chain, lever, hub,
chain case, F/R fork,
sprocket, cover front
fork, cover tail
seat, filter, exhaust
pipe, as well
as helmet |
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No. of Employees : |
160 |
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 |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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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
|
Country Name |
Previous Rating (31.12.2017) |
Current Rating (01.04.2018) |
|
Thailand |
A2 |
A2 |
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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 |
THAILAND - ECONOMIC OVERVIEW
With a relatively well-developed infrastructure, a free-enterprise economy, and generally pro-investment policies, Thailand is highly dependent on international trade, with exports accounting for about two-thirds of GDP. Thailand’s exports include electronics, agricultural commodities, automobiles and parts, and processed foods. The industry and service sectors produce about 90% of GDP. The agricultural sector, comprised mostly of small-scale farms, contributes only 10% of GDP but employs about one-third of the labor force. Thailand has attracted an estimated 3.0-4.5 million migrant workers, mostly from neighboring countries.
Over the last few decades, Thailand has reduced poverty substantially. In 2013, the Thai Government implemented a nationwide 300 baht (roughly $10) per day minimum wage policy and deployed new tax reforms designed to lower rates on middle-income earners.
Thailand’s economy is recovering from slow growth during the years since the 2014 coup. Thailand’s economic fundamentals are sound, with low inflation, low unemployment, and reasonable public and external debt levels. Tourism and government spending - mostly on infrastructure and short-term stimulus measures – have helped to boost the economy, and The Bank of Thailand has been supportive, with several interest rate reductions.
Over the longer-term, household debt levels, political uncertainty, and an aging population pose risks to growth.
|
Source : CIA |
Company
name
OOH ALAI PARTS
CENTER LIMITED PARTNERSHIP
SUMMARY
BUSINESS
ADDRESS : 232/1
MOO 1, SUKSAWAD
ROAD, T. LAEMFAPHA,
A.
PHRASAMUTJEDEE, SAMUTPRAKARN 10290,
THAILAND
TELEPHONE : [66] 2819-5275,
2425-8090-1
FAX
: [66] 2425-8090
E-MAIL
ADDRESS : oohalai@oohspareparts.com
oohalai@hotmail.com
REGISTRATION
ADDRESS : SAME
AS BUSINESS ADDRESS
ESTABLISHED
: 1968
REGISTRATION / TAX
ID NO. : 0103511009439
CAPITAL REGISTERED : BHT. 12,000,000
CAPITAL PAID-UP : BHT.
12,000,000
FISCAL YEAR CLOSING DATE : DECEMBER 31
LEGAL
STATUS : LIMITED
PARTNERSHIP
EXECUTIVE : MR. WICHIEN WATTANAKULCHAI, THAI
MANAGING PARTNER
NO.
OF STAFF : 160
LINES
OF BUSINESS : MOTORCYCLE SPARE
PARTS AND ACCESSORIES
MANUFACTURER, DISTRIBUTOR
AND
SERVICE PROVIDER
CORPORATE
PROFILE
OPERATING
TREND : STABLE
PRESENT
SITUATION : OPERATING NORMALLY
REPUTATION : FAIR
WITH NORMAL BUSINESS
ENGAGEMENT
MANAGEMENT
STANDARD : MANAGEMENT WITH
FAIR PERFORMANCE
HISTORY
The
subject was established
on June 24, 1968 as a
limited partnership under the
registered name OOH ALAI
PARTS CENTER LIMITED
PARTNERSHIP by Thai
partners, with the
business objective to
manufacture, distribute and
service various kinds
of motorcycle spare
parts and accessories
to both domestic
and international markets.
It currently employs
160 staff.
The
subject’s registered address
is 232/1 Moo
1, Suksawad Road,
T. Laemfapha,
A. Phrasamutjedee, Samutprakarn
10290, and this
is the subject’s
current operation address.
AUTHORIZED PERSON
Mr. Wichien Wattanakulchai signs
on behalf of
the subject with
seal affixed. He
also bears full
financial responsibility by
law.
MANAGEMENT
Mr. Wichien Wattanakulchai is
the Managing Partner.
He is Thai
nationality with the
age of 88
years old.
Mr. Somchai Watanakulchai is
the Deputy Managing
Partner / Factory Manager.
He is Thai
nationality with the
age of 59
years old.
Mr. Pornchai Wattanakulchai is
the Deputy Managing
Partner / Sales &
Marketing Manager.
He is Thai
nationality with the
age of 48
years old.
BUSINESS OPERATIONS
The subject is
engaged in manufacturing,
distributing and exporting
various kinds of
motorcycle parts and
accessories such as
brake, back mirror,
handle bar, chain,
lever, hub, chain
case, F/R fork, sprocket,
cover front fork,
cover tail seat,
filter, exhaust pipe,
as well as
helmet under its
own brands “OOH”, “SAFETYMET”, “DAI”
and “STM”.
The subject is
also a contract
manufacturer of helmet
under customer’s order
and brand.
PURCHASE
80%
of the raw
materials is purchased
from local suppliers,
the remaining 20%
is imported from
Japan, Republic China
and Germany.
EXPORT
60%
of the products
is exported to
India, Bangladesh, Brazil,
Cambodia, Egypt, Germany,
Indonesia, Iran, Italy,
Japan, Korea, Laos,
Malaysia, Myanmar, Pakistan,
Poland, Singapore, Vietnam,
Taiwan, South Africa,
and other countries.
SALES
[LOCAL]
40%
of the products
is sold locally
by wholesale to
manufacturers and end-users,
and by retail
through Ooh Alai
Bangkok Co., Ltd.
RELATED AND AFFILIATED
COMPANY
Ooh Alai Bangkok
Co., Ltd.
Business Type :
Retail distributor of
motorcycle parts and
accessories
LITIGATION
Bankruptcy and Receivership
There are no
litigation on bankruptcy
and receivership cases
filed against the
subject found at
Legal Execution Department
for the past
five years.
Others
There are no
legal suits filed
against the subject
according to the
past two years.
CREDIT
Sales are by
cash or on
the credit term
of 30-60 days.
Local bills are
paid by cash
or on the
credits term of
30-60 days.
Imports are by
L/C at sight
and T/T.
Exports are against
T/T.
BANKING
Bangkok
Bank Public Company
Limited
The
Siam Commercial Bank
Public Company Limited
EMPLOYMENT
The
subject employs approximately
160 staff.
LOCATION
DETAILS
The
premise is owned
for administrative office,
factory and warehouse
at the heading
address. Premise is
located in provincial,
on the outskirts
of Bangkok.
Branch
and other warehouse
is located at
232 Suksawad Road,
T. Laemfapha,
A. Phrasamutjedee, Samutprakarn
10290.
COMMENT
The
subject has been
firmly established for
five decades. Despite
a decrease in sales or
service income in
2017 comparing to
the previous year,
it obtained higher
net profit. The
subject’s business is
promising in line
with an improvement
and growth of
motorcycle industry of
both local and
overseas. Generally, it operates
a moderate business
and expects to
eliminate the retained
earning (deficit) very
soon.
FINANCIAL
INFORMATION
The
capital was registered
at Bht. 12,000,000
which was carried
by 6 persons
as followed:
Name Age Amount
Mr. Wichien Wattanakulchai 88 Bht.
3,000,000 [Unlimited Partner]
Address : 488 Petchburi
Rd.,
Thanon Petchburi,
Phayathai, Bangkok
Mr. Somchai Watanakulchai 59 Bht.
3,000,000
Address : 292 Charoenkrung
Rd.,
Samphantawong, Bangkok
Mr. Surachai Watanakulchai 50 Bht.
1,500,000
Address : 292 Charoenkrung
Rd.,
Samphantawong, Bangkok
Mr. Pornchai Wattanakulchai 48 Bht.
1,500,000
Address : 292 Charoenkrung
Rd.,
Samphantawong, Bangkok
Mr. Warach Watanakulchai 38 Bht.
1,500,000
Address : 232/1 Moo 1, Suksawad Rd.,
Laemfapha, Phrasamutjedee,
Samutprakarn
Mr. Warut Wattanakulchai 36 Bht.
1,500,000
Address : 232/1 Moo 1,
Suksawad Rd.,
Laemfapha, Phrasamutjedee,
Samutprakarn
NAME OF AUDITOR
& CERTIFIED PUBLIC
ACCOUNTANT NO.
Mr. Preeda Permpusri
No. 0466
Financials
OOH
ALAI PARTS CENTER
LIMITED PARTNERSHIP
BALANCE SHEET [BAHT]
The
latest financial figures
published for December 31,
2017, 2016 and
2015 were:
ASSETS
|
Current Assets |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Cash and Cash Equivalents |
3,804,791.02 |
4,250,766.36 |
1,919,038.06 |
|
Trade Accounts and
Other Receivable |
7,332,564.93 |
5,953,610.25 |
6,821,861.53 |
|
Inventories |
26,954,989.45 |
18,022,571.39 |
27,696,562.50 |
|
Other Current Assets |
551,273.63 |
462,796.66 |
795,603.85 |
|
Total Current Assets
|
38,643,619.03 |
28,689,744.66 |
37,233,065.94 |
|
|
|
|
|
|
Property, Plant and
Equipment |
21,128,442.43 |
26,184,739.57 |
31,044,087.96 |
|
Other Non-current Assets |
759,500.00 |
759,500.00 |
759,500.00 |
|
Total Assets |
60,531,561.46 |
55,633,984.23 |
69,036,653.90 |
LIABILITIES & SHAREHOLDERS' EQUITY [BAHT]
|
Current
Liabilities |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Trade Accounts and Other
Payable |
17,518,671.28 |
14,059,833.30 |
8,089,854.84 |
|
Accrued Income Tax |
204,734.29 |
478,290.77 |
298,873.26 |
|
Other Current Liabilities |
1,571,489.01 |
1,450,309.29 |
2,278,538.92 |
|
Total Current Liabilities |
19,294,894.58 |
15,988,433.36 |
10,667,267.02 |
|
|
|
|
|
|
Long-term Loan |
35,012,000.00 |
35,512,000.00 |
55,732,000.00 |
|
Other Non-current Liabilities |
72,195.00 |
245,463.00 |
245,463.00 |
|
Total Liabilities |
54,379,089.58 |
51,745,896.36 |
66,644,730.02 |
|
|
|
|
|
|
Shareholders’ Equity |
|
|
|
|
Capital Paid |
12,000,000.00 |
12,000,000.00 |
12,000,000.00 |
|
Retained Earning -Unappropriated [Deficit] |
[5,847,528.12] |
[8,111,912.13] |
[9,608,076.12] |
|
Total Shareholders’ Equity |
6,152,471.88 |
3,888,087.87 |
2,391,923.88 |
|
Total Liabilities and
Shareholders’ Equity |
60,531,561.46 |
55,633,984.23 |
69,036,653.90 |
PROFIT & LOSS
ACCOUNT
|
Revenue |
2017 |
2016 |
2015 |
|
|
|
|
|
|
Sales or Services Income |
79,838,223.78 |
84,736,275.09 |
86,850,410.05 |
|
Other Income |
1,161,811.01 |
1,001,584.04 |
1,018,001.72 |
|
Total Revenues |
81,000,034.79 |
85,737,859.13 |
87,868,411.77 |
|
Expenses |
|
|
|
|
|
|
|
|
|
Cost of Goods
Sold or Services |
66,075,884.72 |
71,774,114.07 |
74,374,222.27 |
|
Selling Expenses |
6,188,964.69 |
3,931,212.49 |
2,683,473.23 |
|
Administrative Expenses |
5,520,888.55 |
7,230,762.63 |
7,667,978.50 |
|
Total Expenses |
77,785,737.96 |
82,936,089.19 |
84,725,674.00 |
|
|
|
|
|
|
Profit /[Loss] before
Financial Cost and Income Tax |
3,214,296.83 |
2,801,769.94 |
3,142,737.77 |
|
Financial Cost |
[342,273.98] |
[521,771.82] |
[413,423.93] |
|
|
|
|
|
|
Profit /[Loss] before Income
Tax |
2,872,022.85 |
2,279,998.12 |
2,729,313.84 |
|
Income Tax |
[607,638.84] |
[783,834.13] |
[598,873.26] |
|
Net Profit / [Loss] |
2,264,384.01 |
1,496,163.99 |
2,130,440.58 |
OOH ALAI
PARTS CENTER LIMITED
PARTNERSHIP
FINANCIAL ANALYSIS
|
ITEM |
UNIT |
2017 |
2016 |
2015 |
|
|
|
|
|
|
|
LIQUIDITY RATIO |
|
|
|
|
|
CURRENT RATIO |
TIMES |
2.00 |
1.79 |
3.49 |
|
QUICK RATIO |
TIMES |
0.58 |
0.64 |
0.82 |
|
|
|
|
|
|
|
ACTIVITY RATIO |
|
|
|
|
|
FIXED ASSETS TURNOVER |
TIMES |
3.78 |
3.24 |
2.80 |
|
TOTAL ASSETS TURNOVER |
TIMES |
1.32 |
1.52 |
1.26 |
|
INVENTORY CONVERSION PERIOD |
DAYS |
148.90 |
91.65 |
135.92 |
|
INVENTORY TURNOVER |
TIMES |
2.45 |
3.98 |
2.69 |
|
RECEIVABLES CONVERSION PERIOD |
DAYS |
33.52 |
25.65 |
28.67 |
|
RECEIVABLES TURNOVER |
TIMES |
10.89 |
14.23 |
12.73 |
|
PAYABLES CONVERSION PERIOD |
DAYS |
96.77 |
71.50 |
39.70 |
|
CASH CONVERSION CYCLE |
DAYS |
85.65 |
45.80 |
124.89 |
|
|
|
|
|
|
|
PROFITABILITY
RATIO |
|
|
|
|
|
COST OF GOODS SOLD |
% |
82.76 |
84.70 |
85.63 |
|
SELLING & ADMINISTRATION |
% |
14.67 |
13.17 |
11.92 |
|
INTEREST |
% |
0.43 |
0.62 |
0.48 |
|
GROSS PROFIT MARGIN |
% |
18.69 |
16.48 |
15.54 |
|
NET PROFIT MARGIN BEFORE EX. ITEM |
% |
4.03 |
3.31 |
3.62 |
|
NET PROFIT MARGIN |
% |
2.84 |
1.77 |
2.45 |
|
RETURN ON EQUITY |
% |
36.80 |
38.48 |
89.07 |
|
RETURN ON ASSET |
% |
3.74 |
2.69 |
3.09 |
|
EARNING PER SHARE |
BAHT |
18.87 |
12.47 |
17.75 |
|
|
|
|
|
|
|
LEVERAGE RATIO |
|
|
|
|
|
DEBT RATIO |
TIMES |
0.90 |
0.93 |
0.97 |
|
DEBT TO EQUITY RATIO |
TIMES |
8.84 |
13.31 |
27.86 |
|
TIME INTEREST EARNED |
TIMES |
9.39 |
5.37 |
7.60 |
|
|
|
|
|
|
|
ANNUAL GROWTH |
|
|
|
|
|
SALES GROWTH |
% |
(5.78) |
(2.43) |
|
|
OPERATING PROFIT |
% |
14.72 |
(10.85) |
|
|
NET PROFIT |
% |
51.35 |
(29.77) |
|
|
FIXED ASSETS |
% |
(19.31) |
(15.65) |
|
|
TOTAL ASSETS |
% |
8.80 |
(19.41) |
|
ANNUAL GROWTH :
SATISFACTORY
An annual sales growth is -5.78%. Sales Income has decreased from THB
84,736,275.09 in 2016 to THB 79,838,223.78 in 2017. While net profit has
increased from THB 1,496,163.99 in 2016 to THB 2,264,384.01 in 2017. And total
assets has increased from THB 55,633,984.23 in 2016 to THB 60,531,561.46 in
2017.
PROFITABILITY :
SATISFACTORY
PROFITABILITY
RATIO
|
Gross Profit Margin |
18.69 |
Deteriorated |
Industrial
Average |
198.83 |
|
Net Profit Margin |
2.84 |
Satisfactory |
Industrial
Average |
4.04 |
|
Return on Assets |
3.74 |
Satisfactory |
Industrial
Average |
5.48 |
|
Return on Equity |
36.80 |
Impressive |
Industrial
Average |
16.65 |
Gross Profit Margin used to assess a firm's financial health by revealing
the proportion of money left over from revenues after accounting for the cost
of goods sold. Gross profit margin serves as the source for paying additional
expenses and future savings. The company's figure is 18.69%. When compared with
the industry average, the ratio of the company was lower. This indicated that
company may have problems with control over its costs.
Net Profit Margin is the indicator of the company's efficiency in that
net profit takes into consideration all expenses of the company. A low profit
margin indicates a low margin of safety, higher risk that a decline in sales
will erase profits and result in a net loss. The company's figure is 2.84%.
When compared with the industry average, the ratio of the company was lower.
Return on Assets measures how efficiently profits are being generated
from the assets employed in the business when compared with the ratios of firms
in a similar business. A low ratio in comparison with industry averages
indicates an inefficient use of business assets. When compared with the
industry average, it was lower, the company's figure is 3.74%.
Return on Equity indicates how profitable a company is by comparing its
net income to its average shareholders' equity, ROE measures how much the
shareholders earned for their investment in the company. Return on Equity ratio
is 36.8%, higher figure when compared with those of its average competitors in
the same industry, indicated that business was an efficient profit in a dominant position within its industry.
Trend of the
average competitors in the same industry for last 5 years
Return on Assets Uptrend
Return on Equity Uptrend
LIQUIDITY :
ACCEPTABLE
LIQUIDITY RATIO
|
Current Ratio |
2.00 |
Impressive |
Industrial
Average |
1.46 |
|
Quick Ratio |
0.58 |
|
|
|
|
Cash Conversion Cycle |
85.65 |
|
|
|
The Current Ratio is to ascertain whether a company's short-term assets are
readily available to pay off its short-term liabilities. The company's figure
is 2 times in 2017, increase from 1.79 times, then it is generally considered
to have good short-term financial strength. When compared with the industry
average, the ratio of the company was higher, indicated that company was an
efficient operator in a dominant position within its industry.
The Quick Ratio is a liquidity indicator that further refines the
current ratio by measuring the amount of the most liquid current assets there
are to cover current liabilities. The company's figure is 0.58 times in 2017,
decrease from 0.64 times, then the company has not enough current assets that
presumably can be quickly converted to cash for pay financial obligations.
The Cash Conversion Cycle measures the number of days a company's cash
is tied up in the production and sales process of its operations and the
benefit from payment terms from its creditors. It meant the company could
survive when no cash inflow was received from sale for 86 days.
Trend of the
average competitors in the same industry for last 5 years
Current Ratio Uptrend
LEVERAGE :
ACCEPTABLE
LEVERAGE RATIO
|
Debt Ratio |
0.90 |
Acceptable |
Industrial
Average |
0.65 |
|
Debt to Equity Ratio |
8.84 |
Risky |
Industrial
Average |
1.86 |
|
Times Interest Earned |
9.39 |
Impressive |
Industrial
Average |
- |
Debt to Equity Ratio a measurement of how much suppliers, lenders,
creditors and obligors have committed to the company versus what the
shareholders have committed. A higher the percentage means that the company is
using less equity and has stronger leverage position.
Times Interest Earned measuring a company's ability to meet its debt
obligations. Ratio is 9.4 higher than 1, so the company can pay interest
expenses on outstanding debt.
Debt Ratio shows the proportion of a company's assets which are financed
through debt. The company's figure is 0.9 greater than 0.5, most of the
company's assets are financed through debt.
Trend of the
average competitors in the same industry for last 5 years
Debt Ratio Downtrend
Times Interest Earned Stable
ACTIVITY :
IMPRESSIVE
ACTIVITY RATIO
|
Fixed Assets Turnover |
3.78 |
Impressive |
Industrial
Average |
- |
|
Total Assets Turnover |
1.32 |
Satisfactory |
Industrial
Average |
1.36 |
|
Inventory Conversion Period |
148.90 |
|
|
|
|
Inventory Turnover |
2.45 |
Satisfactory |
Industrial
Average |
3.47 |
|
Receivables Conversion Period |
33.52 |
|
|
|
|
Receivables Turnover |
10.89 |
Impressive |
Industrial
Average |
4.16 |
|
Payables Conversion Period |
96.77 |
|
|
|
The company's Account Receivable Ratio is calculated as 10.89 and 14.23
in 2017 and 2016 respectively. This ratio measures the efficiency of the company
in managing its trade debtors to generate revenue. A lower ratio may indicate
over extension and collection problems. Conversely, a higher ratio may indicate
an overtly stringent policy. In this case, the company's A/R ratio in 2017
decreased from 2016. This would suggest the company had deteriorated in the
management of its debt collections.
Inventory Turnover in Days Ratio indicates the liquidity of inventory.
It estimates the number of days that it will take to sell the current
inventory. Inventory is particularly sensitive to change in business
activities. The inventory turnover in days has increased from 92 days at the
end of 2016 to 149 days at the end of 2017. This represents a negative trend.
And Inventory turnover has decreased from 3.98 times in year 2016 to 2.45 times
in year 2017.
The company's Total Asset Turnover is calculated as 1.32 times and 1.52
times in 2017 and 2016 respectively. This ratio is determined by dividing total
assets into total sales turnover. The ratio measures the activity of the assets
and the ability of the firm to generate sales through the use of the assets.
Trend of the
average competitors in the same industry for last 5 years
Fixed Assets Turnover Stable
Total Assets Turnover Uptrend
Inventory Turnover Downtrend
Receivables Turnover Uptrend
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 68.52 |
|
|
1 |
INR 90.60 |
|
Euro |
1 |
INR 79.87 |
|
Thai baht |
1 |
INR 2.09 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VIV |
|
|
|
|
Report Prepared
by : |
SYL |
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.