BUSINESS INFORMATION REPORT

1. Summary Information

		Country	INDIA
Company Name	SAMWON PRECISION MOULD MFG (INDIA) PRIVATE LIMITED	Principal Name 1	MR. YONG SUB SONG
Status	MODERATE	Principal Name 2	MR. KUM SOOK CHOI
		Registration #	55-124357
Street Address	1/24, ASAF ALI ROAD, GROUND FLOOR, NEW DELHI – 110 002
Established Date	29.01.2004	SIC Code	--
Telephone#	91-11-23706040/ 23234552	Business Style 1	MANUFACTURER
Fax #	91-11-23706044/ 6045	Business Style 2	--
Homepage	www.samwonindia.com	Product Name 1	PLASTIC MOLDED PARTS
# of employees	ABOVE 100 (APPROXIMATELY)	Product Name 2	--
Paid up capital	RS.128,293,500/-	Product Name 3	--
Shareholders	FOREIGN HOLDINGS -100%	Banking	ABN AMRO BANK LIMITED
Public Limited Corp.	NO	Business Period	7 YEARS
IPO	NO	International Ins.	--
Public Enterprise	NO	Rating	B (28)
Related Company
Relation	Country	Company Name	CEO
HOLDING COMPANY	KOREA	SAMWON PRECISION MOULD MFG. COMPANY LIMITED	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	52,509,000	Current Liabilities	74,492,000
Inventories	26,747,000	Long-term Liabilities	98,188,000
Fixed Assets	137,932,000	Other Liabilities	758,000
Deferred Assets	16,074,000	Total Liabilities	173,438,000
Invest& other Assets	126,000	Retained Earnings	(68,344,000)
		Net Worth	59,950,000
Total Assets	233,388,000	Total Liab. & Equity	233,388,000
Total Assets (Previous Year)	255,218,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Total Income	677,942,000	Net Profit	13,457,000
Total Income (Previous yr)	490,306,000	Net Profit(Prev.yr)	(45,953,000)

MIRA INFORM REPORT

Report Date :

25.08.2011

IDENTIFICATION DETAILS

Name :	SAMWON PRECISION MOULD MFG (INDIA) PRIVATE LIMITED
Registered Office :	1/24, Asaf Ali Road, Ground Floor, New Delhi – 110 002
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	29.01.2004
Com. Reg. No.:	55-124357
Capital Investment / Paid-up Capital :	Rs.128.294 Millions
CIN No.: [Company Identification No.]	U25209DL2004PTC124357
TAN No.: [Tax Deduction & Collection Account No.]	DELS22392G
PAN No.: [Permanent Account No.]	AAHCS8926K
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of Plastic Molded Parts.
No. of Employees :	Above 100 (Approximately)

RATING & COMMENTS

MIRA’s Rating :

B (28)

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small

Maximum Credit Limit :	USD 240000
Status :	Moderate
Payment Behaviour :	Slow but correct
Litigation :	Clear
Comments :	Subject is an established company having moderate track. There appears some accumulated losses recorded by the company. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some cautions.

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 – April 1, 2010

Country Name	Previous Rating (31.12.2009)	Current Rating (01.04.2010)
India	A1	A1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

LOCATIONS

Registered Office :	1/24, Asaf Ali Road, Ground Floor, New Delhi – 110 002, India
Tel. No.:	91-11-23706040/ 23234552
Mobile No.:	91-9818846299 (Mr. Sanjay Sharma)
Fax No.:	91-11-23706044/ 6045
Email :	psgurleensoni@yahoo.com samwonindia@yahoo.co.in account@samwon.in sanjay46299@yahoo.co.in vam@airtelbroadband.in
Website:	http://www.samwonindia.com
Location :	Owned
Factory :	B-47 to B-49, Sector 80, Phase – II, Noida – 201 005, Uttar Pradesh, India
Tel. No.:	91-120-2463171/ 3/ 4/ 4727517 91-11-23706040
Fax No.:	91-120-2463170/ 2463174/ 2463173
Email :	psgurleensoni@yahoo.com samwonindia@yahoo.co.in account@samwon.in sanjay46299@yahoo.co.in
Area :	1250 sq. mt.
Location :	Owned

DIRECTORS

As on 30.09.2010

Name :	Mr. Yong Sub Song
Designation :	Director
Address :	Hyundaesupervilla A, 2705, 1446-11, 4/5, Seocho–Dong, Seocho – GU Metro Politan Seoul – 137919, Korea
Date of Birth/Age :	14.02.1948
Date of Appointment :	29.01.2004
DIN No.:	02593726
Name :	Mr. Kum Sook Choi
Designation :	Director
Address :	Hyundaesupervilla A, 2705, 1446-11, 4/5, Seocho–Dong, Seocho – GU Metro Politan Seoul – 137919, Korea
Date of Birth/Age :	05.10.1957
Date of Appointment :	29.01.2004
DIN No.:	02593729
Name :	Mr. Moon Young Ryu
Designation :	Director
Address :	Hyeondae Apartment 102-502, (21/4), Daebang-Dong, Dongjak – GU, Metor Politan, Seoul – 156811, Korea
Date of Birth/Age :	22.02.1948
Date of Appointment :	29.01.2004
DIN No.:	02593722
Name :	Mr. Dong Jae Oh
Designation :	Director
Address :	774, ATS, Green Village, Sector 93 A, Noida – 201 301, Uttar Pradesh, India
Date of Birth/Age :	20.07.1961
Date of Appointment :	01.01.2006
DIN No.:	02159487

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Samwon Precision Mould Mfg. Company Limited, Seoul Korea	12829349
Moon Young Ryu, Seoul Korea	1
Total	12829350

As on 30.09.2010

Equity Share Breakup	Percentage of Holding
Category
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00

BUSINESS DETAILS

Line of Business :	Manufacturer of Plastic Molded Parts.
Products :	v Plastic Parts v Plastic Mould Components v Dies and Moulds

PRODUCTION STATUS (AS ON 31.03.2009)

Particulars	Unit	Installed Capacity	Actual Production
Plastic Mould Components For:
Refrigerator	Nos.	4000000	5650407
Washing Machine	Nos.	2500000	1557366
Television	Nos.	500000	6566
Air-conditioner	Nos.	800000	355644
Dies and Moulds	Nos.	25	7

GENERAL INFORMATION

No. of Employees :

Above 100 (Approximately)

Bankers :

v ABN Amro Bank Limited

v Standard Chartered Limited

Facilities :

Secured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
From Banks:
Term Loan Secured by way of hypothecation of vehicle (Due within one year Rs.0.368 million, previous year Rs.0.335 million)	0.401	0.736
Interest accrued on above	0.002	0.004
Total	0.403	0.740

Unsecured Loans	31.03.2010 Rs. In Millions	31.03.2009 Rs. In Millions
Deferred Payment against Machines	82.497	93.190
Interest accrued on the above	2.360	2.360
External Commercial Borrowings from holding company Samwon Precision Mould Mfg. Company Limited, Korea	12.928	41.591
Total	97.785	137.141

Banking Relations :	--
Auditors :
Name :	V.A. Mehta and Company Chartered Accountants
Address :	409-409A, International Trade Tower, Nehru Place, New Delhi – 110 019, India
Tel. No.:	91-11-26470003
Fax No.:	91-11-46705533
E-Mail :	office@vamco.in
Website :	www.vamco.in
Income-tax PAN of auditor or auditor's firm :	AAAFV0033A
Holding Company :	Samwon Precision Mould Mfg. Company Limited Address: 333-23, Doksan Dong, Kumchun Ku, Seoul Korea

CAPITAL STRUCTURE

As on 31.03.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
13200000	Equity Shares	Rs.10/- each	Rs.132.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
12829350	Equity Shares	Rs.10/- each	Rs.128.294 Millions

(Samwon Precision Mould Mfg. Company Limited, Korea, the holding company, holds 12829349 Equity shares of the above and out of this 5804400 shares are allotted as fully paid-up on conversion of External Commercial Borrowing) 

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		128.294	128.294	70.250
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.000	0.000	0.000
4] (Accumulated Losses)		(68.344)	(81.801)	(35.848)
NETWORTH		59.950	46.493	34.402
LOAN FUNDS
1] Secured Loans		0.403	0.740	0.000
2] Unsecured Loans		97.785	137.141	171.939
TOTAL BORROWING		98.188	137.881	171.939
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		158.138	184.374	206.341
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		137.932	153.660	164.160
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERRED TAX ASSETS		16.074	14.751	14.775
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	26.747	30.765	23.192
	Sundry Debtors	26.346	36.563	58.037
	Cash & Bank Balances	3.787	1.352	4.978
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	22.376	17.970	16.114
Total Current Assets		79.256	86.650	102.321
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	70.818	69.360	70.980
	Other Current Liabilities	3.674	0.597	3.824
	Provisions	0.758	0.887	0.300
Total Current Liabilities		75.250	70.844	75.104
Net Current Assets		4.006	15.806	27.217
MISCELLANEOUS EXPENSES		0.126	0.157	0.189
TOTAL		158.138	184.374	206.341

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Turnover	677.942	490.306	470.181
		Other Income
		TOTAL	677.942	490.306	470.181
Less	EXPENSES
		Office Expenses	665.808	535.910	453.737
		Administrative Expenses
		Advertising Expenses
		TOTAL	665.808	535.910	453.737
	PROFIT/ (LOSS) BEFORE TAX		12.134	(45.604)	16.444
Less	TAX		(1.323)	0.349	10.547
	PROFIT/ (LOSS) AFTER TAX		13.457	(45.953)	5.897
	IMPORTS
		Raw Materials	NA	31.127	47.035
		Capital Goods	NA	0.723	0.811
	TOTAL IMPORTS		NA	31.850	47.846
	Earnings Per Share (Rs.)		1.05	(5.49)	0.84

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	1.98	(9.37)	1.25
Return on Total Assets (PBT/Total Assets}	(%)	5.59	(18.97)	6.17
Return on Investment (ROI) (PBT/Networth)		0.20	(0.98)	0.48
Debt Equity Ratio (Total Liability/Networth)		2.89	1.52	7.18
Current Ratio (Current Asset/Current Liability)		1.05	1.22	1.36

LOCAL AGENCY FURTHER INFORMATION

Note:

Registered office of the company has been shifted from 2161, Sector – B Pocket 2 and 3, Vasant Kunj, New Delhi – 110 070, India to present address with effect from15.03.2007.

FIXED ASSETS

v Land

v Building

v Chiller Plant

v Computer

v Electricity Equipments

v Electrical Fittings and Fixtures

v Generators

v Office Equipments

v Mould and Dies

v Plant and Machinery (Imported)

v Plant Machinery

v Trollies

v Vehicles

v Furniture and Fixture

CMT REPORT (Corruption, Money Laundering & Terrorism]

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

1] INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

2] Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

3] Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

4] Record on Financial Crime :

Charges or conviction registered against subject: None

5] Records on Violation of Anti-Corruption Laws :

Charges or investigation registered against subject: None

6] Records on Int’l Anti-Money Laundering Laws/Standards :

Charges or investigation registered against subject: None

7] Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

8] Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

9] Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

10] Press Report :

No press reports / filings exists on the subject.

CORPORATE GOVERNANCE

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

CONTRAVENTION

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.77
UK Pound	1	Rs.75.58
Euro	1	Rs.65.97

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	4
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	4
--LIQUIDITY	1~10	3
--LEVERAGE	1~10	3
--RESERVES	1~10	3
--CREDIT LINES	1~10	2
--MARGINS	-5~5	-
DEMERIT POINTS
--BANK CHARGES	YES/NO	YES
--LITIGATION	YES/NO	NO
--OTHER ADVERSE INFORMATION	YES/NO	NO
MERIT POINTS
--SOLE DISTRIBUTORSHIP	YES/NO	NO
--EXPORT ACTIVITIES	YES/NO	NO
--AFFILIATION	YES/NO	YES
--LISTED	YES/NO	NO
--OTHER MERIT FACTORS	YES/NO	YES
TOTAL		28

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%)

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
-	NB	New Business	-

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.