MIRA INFORM REPORT

Report Date :

26.11.2011

IDENTIFICATION DETAILS

Name :	ESHIN CO.

Registered Office :	B-501, Pyeon-ik Complex, Incheon Industrial Goods Circulating Center 294, Songnim 4-dong, Dong-gu, Incheon, Korea 401-722

Country :	South Korea

Date of Incorporation :	11.01.2001

Com. Reg. No.:	121-05-90653

Legal Form :	Sole Proprietorship

Line of Business :	Manufacture of Surface-Active Agents

No. of Employees :	2

RATING & COMMENTS

MIRA’s Rating :

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

Status :	Small Company

Payment Behaviour :	Unknown

Litigation :	--

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)

South Korea

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

Basic Information

Company Name	ESHIN CO. (Korean Company Name : “이신실업”)
Registered Address	294, Songnim 4-dong, Dong-gu, Incheon, Korea
Building	B-501, Pyeon-ik Complex, Incheon Industrial Goods Circulating Center
Zip Code	401-722
Tel	+82-32-588-3720~1
Fax	+82-32-588-3719
E-mail	eshinchem@hanmail.net
Website	www.eshinchem.com
Trading Address	B-501, Pyeon-ik Complex, Incheon Industrial Goods Circulating Center, 294, Songnim 4-dong, Dong-gu, Incheon, Korea
Tel	+82-32-588-3720~1
Fax	+82-32-588-3719
Type	Export/Import
Industry	Manufacture of Surface-Active Agents
Main Business	Surface Active Agent, Softner, Oil Repellent Agent
Established (mm/dd/yyyy)	01/11/2001

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Surfactants(12161900)
Sell	Wetting agents(12161906)
Sell	Inorganic acids(12352301)

CEO’s

Name	Lee Seok-Jae
Date of Birth	06/21/1968
Title	Owner
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	Not Applicable to the Sole Proprietorship
Employees	2
Formation	Sole Proprietorship
Bank Details	N/A
Corporate Registered No.	Not Applicable to the Sole Proprietorship
Business Registered No.	121-05-90653
Shareholder Position	The owner has 100% shares.
Company History	01/11/2001 Established as the present name

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Owner	Mr.	Lee Seok-Jae	Male	Korean	01/11/2001

Financials

The 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 Issued Shares	Not Applicable to the Sole Proprietorship

Products, Technologies, Services Description

Main Products & Services

Surface Active Agent, Softner, Oil Repellent Agent

Trade Partners & Competitors

Competitors

HUCHEMS FINE CHEMICAL CORPORATION

5TH FL., KUKDONG BLDG., 60-1, CHUNGMURO 3-GA, JUNG-GU, SEOUL, KOREA

TEL:+82-2-2262-0600 FAX:+82-2-2265-9381

COSMO CHEMICAL CO., LTD.

1534-5, SEOCHO 3-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-32-451-6100 FAX:+82-32-451-6119

FOOSUNG CO., LTD.

427-9, NOHA-RI, PALTAN-MYEON, HWASEONG-SI, GYEONGGI-DO, KOREA

TEL:+82-31-495-7243 FAX:+82-31-491-1649

Sales by Region (Activity & Markets)

The Subject deals with the companies in China, Iran and Pakistan.

Court Action

Not Available.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.17
UK Pound	1	Rs.80.64
Euro	1	Rs.69.43

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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