1. Summary Information

		Country	India
Company Name	Myung Sung India Precision Private Limited	Principal Name 1	Mr. Ji Hun Chang
Status	Moderate	Principal Name 2	Mr. Kim Dong Wook
		Registration #	18-060667
Street Address	New No.55, (Old No.101), Thandalam Village, Sri Perumbudur Taluk, Kanchipuram – 602105, Tamilnadu, India
Established Date	26.07.2006	SIC Code	--
Telephone#	91-44-27156965	Business Style 1	Manufacturing
Fax #	91-44-27156354	Business Style 2	--
Homepage	--	Product Name 1	Automobile Spare Parts
# of employees	Not Available	Product Name 2	--
Paid up capital	Rs.21,899,620/-	Product Name 3	--
Shareholders	Foreign Holdings – 100%	Banking	HDFC Bank Limited
Public Limited Corp.	No	Business Period	5 years
IPO	No	International Ins.	--
Public Enterprise	No	Rating	B (28)
Related Company
Relation	Country	Company Name	CEO
--	--	--	--
Note	--

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	113,678,000	Current Liabilities	261,501,000
Inventories	54,858,000	Long-term Liabilities	32,626,000
Fixed Assets	149,145,000	Other Liabilities	15,062,000
Deferred Assets	0,000	Total Liabilities	309,189,000
Invest& other Assets	13,761,000	Retained Earnings	353,000
		Net Worth	22,253,000
Total Assets	331,442,000	Total Liab. & Equity	331,442,000
Total Assets (Previous Year)	210,066,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	263,097,000	Net Profit	(1,214,000)
Sales(Previous yr)	54,608,000	Net Profit(Prev.yr)	911,000

MIRA INFORM REPORT

Report Date :

10.11.2011

IDENTIFICATION DETAILS

Name :	MYUNG SUNG INDIA PRECISION PRIVATE LIMITED
Registered Office :	New No.55, (Old No.101), Thandalam Village, Sri Perumbudur Taluk, Kanchipuram – 602105, Tamilnadu
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	26.07.2006
Com. Reg. No.:	18-060667
Capital Investment / Paid-up Capital :	Rs.21.900 Millions
CIN No.: [Company Identification No.]	U25199TN2006PTC060667
TAN No.: [Tax Deduction & Collection Account No.]	CHEM09876G
PAN No.: [Permanent Account No.]	AAECM7514J
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturing of Automobile Spare Parts.
No. of Employees :	Not Available

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 90000
Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is an established company having moderate track. The company has incurred some losses in current year i.e. 2009-10. However, trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.

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 – September 30, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
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 :	New No.55, (Old No.101), Thandalam Village, Sri Perumbudur Taluk, Kanchipuram – 602105, Tamilnadu, India
Tel. No.:	91-44-27156965/ 27156967
Fax No.:	91-44-27156354/ 27156965
E-Mail :	shahn@msmold.co.kr accounts.msi@gmail.com

DIRECTORS

(AS ON 29.09.2010)

Name :

Mr. Yeom Ji Chul

Designation :

Managing Director

Address :

No.8J, West Block Sis Meridian No.7, Gangai Nagar, Velacherry, Chennai – 600042, Tamilnadu, India

Date of Birth/ Age :

22.01.1978

Date of Appointment :

02.02.2011

DIN No.:

02257661

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Company Status	Defaulting status
1	U25199TN2006PTC060667	MYUNG SUNG INDIA PRECISION PRIVATE LIMITED	Managing director	02-02-11	14-08-08	Active	NO

Name :

Mr. Ji Hun Chang

Designation :

Managing Director

Address :

303, Attrium Apartments, 22 Kalakshewa Road, Thiruvanmiyur, Chennai – 6000041, Tamilnadu, India

Date of Birth/ Age :

19.05.1970

Date of Appointment :

26.07.2006

Dater of Ceasing :

02.02.2011

DIN No.:

00921017

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U35914TN2002PTC049010	DONG - A INDIA AUTOMOTIVE PRIVATE LIMITED	Managing director	30-05-02	30-05-02	-	Active	NO
2	U25199TN2006PTC060667	MYUNG SUNG INDIA PRECISION PRIVATE LIMITED	Managing director	26-07-06	26-07-06	02-02-11	Active	NO
3	U74992TN2006PTC061626	C J POLYTECH PRIVATE LIMITED	Director	30-11-06	30-11-06	20-07-09	Active	YES
4	U50300TN2007PTC061929	HYUNDAI SEALTECH MANUFACTURING PRIVATE LIMITED	Director	03-01-07	03-01-07	-	Active	NO

Name :

Mr. Kim Dong Wook

Designation :

Director

Address :

303, Attrium Apartments, 22 Kalakshewa Road, Thiruvanmiyur, Chennai – 6000041, Tamilnadu, India

Date of Birth/ Age :

17.08.1977

Date of Appointment :

26.07.2006

Dater of Ceasing :

02.02.2011

DIN No.:

00920901

Other Directorships :

S.No.	CIN	Name of the Company	Current designation of the director	Date of appointment at current designation	Original date of appointment	Date of cessation	Company Status	Defaulting status
1	U35914TN2002PTC049010	DONG - A INDIA AUTOMOTIVE PRIVATE LIMITED	Director	01-12-05	01-12-05	-	Active	NO
2	U25199TN2006PTC060667	MYUNG SUNG INDIA PRECISION PRIVATE LIMITED	Director	26-07-06	26-07-06	02-02-11	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

(AS ON 29.09.2010)

Names of Shareholders	No. of Shares
Myung Sung Precicion Company Limited	2189952
Ji Hun Chang	10
Total	2189962

(AS ON 30.09.2010)

Equity Shares Break – up

Category	Percentage
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others]	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturing of Automobile Spare Parts.

GENERAL INFORMATION

No. of Employees :	Not Available
Bankers :	· HDFC Bank Limited HDFC Bank House Senapati Bapat Marg, Lower Parel West, Mumbai – 400013, Maharashtra, India

Banking Relations :	--
Auditors :
Name :	Sukumar and Associates Chartered Accountants
Address :	# 29, (Old # 7), Devadi Street (Off Kutchery Road), Mylapore, Chennai – 600004, Tamilnadu, India
Tel. No.:	91-44-24642340/ 24610939/ 24615161
Mobile No.:	91-9840057799/ 9444401199
Fax No.:	91-44-24641199
PAN No.:	AANFS9673C
E-Mail :	sukumarn@vsnl.com sukumarn@airtelmail.in

CAPITAL STRUCTURE

(After 29.09.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
4500000	Equity Shares	Rs.10/- each	Rs.45.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
4411962	Equity Shares	Rs.10/- each	Rs.44.120 Millions

(AS ON 29.09.2010)

Authorised Capital :

No. of Shares	Type	Value	Amount
2200000	Equity Shares	Rs.10/- each	Rs.22.000 Millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
2189962	Equity Shares	Rs.10/- each	Rs.21.900 Millions

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		21.900	21.900	6.934
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		0.353	1.566	0.655
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		22.253	23.466	7.589
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		32.626	36.541	28.885
TOTAL BORROWING		32.626	36.541	28.885
DEFERRED TAX LIABILITIES		13.729	10.411	0.647
TOTAL		68.608	70.418	37.121
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		149.145	139.158	35.415
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		13.761	10.185	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	54.858	23.808	2.067
	Sundry Debtors	93.600	15.974	2.406
	Cash & Bank Balances	0.745	0.399	9.429
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	19.333	20.542	5.580
Total Current Assets		168.536	60.723	19.482
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditor and Other Current Liabilities	261.501	138.319	17.776
	Provisions	1.333	1.329
Total Current Liabilities		262.834	139.648	17.776
Net Current Assets		(94.298)	(78.925)	1.706
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		68.608	70.418	37.121

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	SALES
		Income	263.097	54.608	22.982
		Other Income	2.924	(2.127)	0.000
		TOTAL (A)	266.021	52.481	22.982
Less	EXPENSES
		Increase/Decrease in stock	(13.690)	(14.749)	0.000
		Material Consumed	188.706	32.992	7.398
		Manufacturing Expenses	40.597	13.956	6.099
		Payments and Benefits for Employees	27.675	11.988	2.227
		Administrative Expenses	10.776	5.267	1.871
		Preliminary Expenses written off	0.000	0.000	0.056
		Extordinery Items – Exchange Fluctaution	0.000	0.000	(0.754)
		TOTAL (B)	254.064	49.454	16.897
Less	PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C)		11.957	3.027	6.085
Less	FINANCIAL EXPENSES (D)		2.637	1.462	0.701
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E)		9.320	1.565	5.384
Less/ Add	DEPRECIATION/ AMORTISATION (F)		11.157	3.891	3.823
	PROFIT/(LOSS) BEFORE TAX (E-F) (G)		(1.837)	(2.326)	1.561
Less	TAX (H)		(0.623)	(3.237)	0.906
	PROFIT(LOSS) AFTER TAX (G-H) (I)		(1.214)	0.911	0.655
Add	PREVIOUS YEARS’ BALANCE BROUGHT FORWARD		1.566	0.655	--
	BALANCE CARRIED TO THE B/S		0.352	1.566	0.655
	Earnings/ (Loss) Per Share (Rs.)		(0.55)	--	--

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
PAT / Total Income	(%)	(0.46)	1.74	2.85
Net Profit Margin (PBT/Sales)	(%)	(0.70)	(4.26)	6.79
Return on Total Assets (PBT/Total Assets}	(%)	(0.58)	(1.16)	2.84
Return on Investment (ROI) (PBT/Networth)		(0.08)	(0.10)	0.20
Debt Equity Ratio (Total Liability/Networth)		13.28	7.51	6.15
Current Ratio (Current Asset/Current Liability)		0.64	0.43	1.10

LOCAL AGENCY FURTHER INFORMATION

FORM 8:

Corporate identity number of the company	U25199TN2006PTC060667
Name of the company	MYUNG SUNG INDIA PRECISION PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	New No 55 Thandalam Village, Sri Perumbudur Taluk, Kancheepuram District, Tamilnadu – 602105, India
This form is for	Creation of charge
Type of charge	Movable Property
Particular of charge holder	Private sector bank
Nature of instrument creating charge	Agreement Loan and Guarantee. Contracts No:3329346
Date of instrument Creating the charge	04.07.2010
Amount secured by the charge	0.790 Million
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest: Interest @ 11.56% p.a Terms of Repayment: The Loan is repayable in 35 EMIs Rs.0.026 Million Starting from 15 August, 2010 ending to 15th June, 2013. Margin: As may stipulated by bank from time to time Extent and Operation of the charge: The Company hypothecates to and charges in favour of the Bank by way of first and exclusive charge of the Vehicle/ equipment described in Item No. 15 as security for the repayment/payment by the company of the loan granted or to be granted to the company by the Bank together with all fees, interest, costs and expenses incurred/to be incurred by the Bank and all other monies payable or to become payable by the company to the Bank. Others: The Bank shall be absolutely entitled and have full power and authority to sell, assign or transfer in any manner, in whole or in part, and in such manner and on such terms as the Bank may decide, including reserving a right to the Bank to retain its power to proceed against the company on behalf of the purchaser, assignee or transferee, any or all outstanding dues of the company, to any third party of the Bank's choice without reference to or without written intimation to the company
Short particulars of the property charged	Hypothecation of 1 vehicle namely: Escorts 3000D 3T (Year of Manufacture 2010)

FIXED ASSETS:

· Plant and Machinery

· Office Equipments

· Electrical Installations

· Furniture and Fixtures

· Computer

· Vehicles

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.49.38
UK Pound	1	Rs.79.20
Euro	1	Rs.67.84

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	3
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	3
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	3
--PROFITABILIRY	1~10	3
--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	NO
--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.