MIRA INFORM REPORT

Report Date :

11.01.2011

IDENTIFICATION DETAILS

Correct Name :	DAEYOUNG ENGINEERING CO.

Registered Office :	2-8, Deokchon-ri, Wachon-myeon, Gyeongsan-si, Gyeongsangbuk-do, Korea 712-843

Country :	South Korea

Date of Incorporation :	20.11.1999

Legal Form :	Sole Proprietorship

Line of Business :	Manufacture of Machinery for Other Textiles, Apparel and Leather Processing

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Moderate
Payment Behaviour :	Unknown
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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

South Korea

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

Basic

Company Name	DAEYOUNG ENGINEERING CO. (Korean Company Name : “대영엔지니어링”)
Registered Address	2-8, Deokchon-ri, Wachon-myeon, Gyeongsan-si, Gyeongsangbuk-do, Korea
Zip Code	712-843
Tel	+82-53-853-5117
Fax	+82-53-853-5118
Trading Address	2-8, Deokchon-ri, Wachon-myeon, Gyeongsan-si, Gyeongsangbuk-do, Korea
Tel	+82-53-853-5117
Fax	+82-53-853-5118
Type	Export
Industry	Manufacture of Machinery for Other Textiles, Apparel and Leather Processing
Main Business	High Speed Automatic Splitting Machine
Established (mm/dd/yyyy)	11/20/1999

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Textile processing machinery and accessories(23121500)

CEO’s

Name	Shin Kwan-Sik
Title	Owner
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	Not Applicable to the Sole Proprietorship
Employees	1
Formation	Sole Proprietorship
Bank Details	N/A
Corporate Registered No.	Not Applicable to the Sole Proprietorship
Business Registered No.	515-02-***** (The full numbers are kept by the National Tax Service confidentially.)
Permit & Licenses	N/A
Shareholder Position	The owner has 100% shares.
Company History	11/20/1999 Incorporated as the present name

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Owner	Mr.	Shin Kwan-Sik	Male	Korean	11/20/1999

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2009
2008
2007	716,000,000
2006	600,000,000
2005	408,000,000
2004	545,000,000
2003	528,000,000

The latest & full financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

Financial Description

Authorized Capital(KRW)	Not Applicable to the Sole Proprietorship
Paid-Up Capital(KRW)	Not Applicable to the Sole Proprietorship
Total Issues Shares	Not Applicable to the Sole Proprietorship

Products, Technologies, Services Description

Main Products & Services

High Speed Automatic Splitting Machine

Trade Partners & Competitors

Competitors

SWTA TECH

432-3, SINCHEON-RI, HALLIM-MYEON, GIMHAE-SI, GYEONGSANGNAM-DO, KOREA

TEL:+82-51-523-6222 FAX:+82-51-521-3818

DONG SHIN MACHINE CO.

NA-2, 156-3, NAE-DONG, OJEONG-GU, BUCHEON-SI, GYEONGGI-DO, KOREA

TEL:+82-32-683-5157~9 FAX:+82-32-683-5167

GONG YUNG MACHINERY LTD.

1285-2,SINAM 2-DONG, DONG-GU, DAEGU, KOREA

TEL:+82-53-585-9977 FAX:+82-53-585-7673

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

Affiliates

PYUNGSAN SILUP CO.(KOREA)

Sales by Region

(Activity & Markets)

The Subject exports to Argentina, Brazil and India.

Court Action

Not Available.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.45.44
UK Pound	1	Rs.70.61
Euro	1	Rs.58.63

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	--

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%)

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