1. Summary Information

		Country	India
Company Name	Daon Trade India Private Limited	Principal Name 1	Mr. Jin Pyo Hong
Status	Moderate	Principal Name 2	Mrs. Seung Hee Kang
		Registration #	08-42198
Street Address	No. 632-A, 2^nd Floor, 2^nd H Cross, 2^nd Block, HRBR Layout, Kalyan Nagar, Bangalore – 560 043, Karnataka, India
Established Date	21.03.2007	SIC Code	--
Telephone#	91-80-42642297 / 42134525 / 41642297	Business Style 1	Manufacturing
Fax #	91-80-41614171	Business Style 2	--
Homepage	--	Product Name 1	Welding Electrodes
# of employees	4 Approximately	Product Name 2	Forged Bars
Paid up capital	Rs.100,000/-	Product Name 3	Welder Thyristor Controls
Shareholders	Directors or relatives of directors - 100.00 %	Banking	Punjab and Sind Bank
Public Limited Corp.	NO	Business Period	4 Years
IPO	NO	International Ins.	-
Public Enterprise	NO	Rating	Ca (14)
Related Company
Relation	Country	Company Name	CEO
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2011		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	1,504,000	Current Liabilities	1,406,000
Inventories	19,000	Long-term Liabilities	000
Fixed Assets	203,000	Other Liabilities	000
Deferred Assets	000	Total Liabilities	1,406,000
Invest& other Assets	8,000	Retained Earnings	198,000
		Net Worth	328,000
Total Assets	1,734,000	Total Liab. & Equity	1,734,000
Total Assets (Previous Year)	253,000
P/L Statement as of	31.03.2011		(Unit: Indian Rs.)
Sales	678,000	Net Profit	206,000
Sales(Previous yr)	000	Net Profit(Prev.yr)	43,000

MIRA INFORM REPORT

Report Date :

05.10.2011

IDENTIFICATION DETAILS

Name :	DAON TRADE INDIA PRIVATE LIMITED
Registered Office :	No. 632-A, 2^nd Floor, 2^nd H Cross, 2^nd Block, HRBR Layout, Kalyan Nagar, Bangalore – 560 043, Karnataka
Country :	India
Financials (as on) :	31.03.2011
Date of Incorporation :	21.03.2007
Com. Reg. No.:	08-42198
Capital Investment / Paid-up Capital :	Rs.0.100 Million
CIN No.: [Company Identification No.]	U51505KA2007PTC042198
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer of a range of quality engineering goods and equipment including welding electrodes, including static var compensator (svc), forged bars, basic paper packing for export, welder thyristor controls, steel, hot rolled coil, steel etc.
No. of Employees :	4 Approximately

RATING & COMMENTS

MIRA’s Rating :

Ca (14)

RATING		STATUS	PROPOSED CREDIT LINE
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

Status :	Moderate
Payment Behaviour :	Slow
Litigation :	Clear
Comments :	Subject is a relatively new and small company having moderate track. Trade relations are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured trade terms and conditions.

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 :	No. 632-A, 2^nd Floor, 2^nd H Cross, 2^nd Block, HRBR Layout, Kalyan Nagar, Bangalore – 560 043, Karnataka, India
Tel. No.:	91-80-42642297 / 42134525 / 41642297
Mobile No.:	91-9845771657 (Mr. Jeff Hong)
Fax No.:	91-80-41614171
E-Mail :	girihr2005@yahoo.com jeffhong64@gmail.com
Area :	1000 sq. ft.
Location :	Rented

DIRECTORS

As on 30.06.2011

Name :

Mr. Jin Pyo Hong

Designation :

Director

Address :

No. 236, 7^th C Main, 1^st Block, HRBR Layout, Kalyan Nagar, Bangalore – 560 043, Karnataka, India

Date of Birth/Age :

01.04.1964

Qualification :

Mechanical Engineer

Date of Appointment :

21.03.2007

DIN No.:

02268307

Other Directorship :

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	U51505KA2007PTC042198	Daon Trade India Private Limited	Director	21-03-07	21-03-07	Active	NO
2	U51103KA2008PTC047365	JCL Trading Private Limited	Director	04-08-08	04-08-08	Active	YES
3	U51311KA2009PTC050901	Olive Costume Trading Korea Private Limited	Director	22-07-10	22-07-10	Active	NO

Name :

Mrs. Seung Hee Kang

Designation :

Director

Address :

No. 236, 7^th C Main, 1^st Block, HRBR Layout, Kalyan Nagar, Bangalore – 560 043, Karnataka, India

Date of Birth/Age :

15.01.1965

Date of Appointment :

21.03.2007

DIN No.:

02302783

Other Directorship :

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	U51505KA2007PTC042198	Daon Trade India Private Limited	Director	21-03-07	21-03-07	Active	NO
2	U51311KA2009PTC050901	Olive Costume Trading Korea Private Limited	Director	22-07-10	22-07-10	Active	NO

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.06.2011

Names of Shareholders	No. of Shares
Jin Pyo Hong	9000
Seung Hee Kang	1000
Total	10000

As on 30.06.2011

Equity Share Breakup	Percentage of Holding
Category
Directors or relatives of directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer of a range of quality engineering goods and equipment including welding electrodes, including static var compensator (svc), forged bars, basic paper packing for export, welder thyristor controls, steel, hot rolled coil, steel etc.

GENERAL INFORMATION

No. of Employees :	4 Approximately
Bankers :	· ICICI Bank, Kammanahalli, Bangalore – 560084, Karnataka, India · Punjab and Sind Bank, Jwala Heri Market, Paschim Vihar, New Delhi – 110063, India

Banking Relations :	--
Auditors :
Name :	Gurulingayya G Chartered Accountant
Address :	No. 386, 1^st Floor, 4^th D Main, 12^th Cross, Mahalakshmipuram, West of Chord Road, Bangalore – 560 086, Karnataka, India
Tel. No.:	91-80-23491519 / 23491528
Mobile No.:	91-9845653513 / 9845354966
E-Mail :	gdandassociates@yahoo.co.in

CAPITAL STRUCTURE

As on 30.06.2011

Authorised Capital :

No. of Shares	Type	Value	Amount
50000	Equity Share	Rs.10/- each	Rs.0.500 Million

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
10000	Equity Share	Rs.10/- each	Rs.0.100 Million

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

SOURCES OF FUNDS		31.03.2011	31.03.2010	31.03.2009
SHAREHOLDERS FUNDS
1] Share Capital		0.100	0.100	0.100
2] Share Application Money		0.030	0.030	0.030
3] Reserves & Surplus		0.198	0.000	0.000
4] (Accumulated Losses)		0.000	(0.008)	(0.050)
NETWORTH		0.328	0.122	0.080
LOAN FUNDS
1] Secured Loans		0.000	0.000	0.000
2] Unsecured Loans		0.000	0.000	0.000
TOTAL BORROWING		0.000	0.000	0.000
DEFERRED TAX LIABILITIES		0.000	0.000	0.000
TOTAL		0.328	0.122	0.080
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		0.203	0.093	0.056
Capital work-in-progress		0.000	0.000	0.000
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	0.019	0.000	0.000
	Sundry Debtors	0.386	0.000	0.000
	Cash & Bank Balances	0.056	0.143	0.080
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	1.062	0.000	0.000
Total Current Assets		1.523	0.143	0.080
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	1.406	0.123	0.076
	Other Current Liabilities
	Provisions	0.000	0.008	0.005
Total Current Liabilities		1.406	0.131	0.081
Net Current Assets		0.117	0.012	(0.001)
MISCELLANEOUS EXPENSES		0.008	0.017	0.025
TOTAL		0.328	0.122	0.080

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2011	31.03.2010	31.03.2009
	SALES
		Sales	0.678	0.000	0.000
		Direct Income	2.675	0.639	0.445
		TOTAL	3.353	0.639	0.445
Less	EXPENSES
		Office Expenses	3.119	0.570	0.441
		Administrative Expenses
		Advertising Expenses
		TOTAL	3.119	0.570	0.441
	PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION		0.234	0.069	0.004
Less/ Add	DEPRECIATION AND PRELIMINARY EXPENSES		0.028	0.018	0.017
	PROFIT/LOSS BEFORE TAX		0.206	0.051	(0.013)
Less	TAX		0.000	0.008	0.006
	PROFIT/LOSS AFTER TAX		0.206	0.043	(0.019)
	EARNINGS IN FOREIGN CURRENCY		2.675	NIL	NIL
	Earnings Per Share (Rs.)		20.60	--	--

KEY RATIOS

PARTICULARS		31.03.2011	31.03.2010	31.03.2009
PAT / Total Income	(%)	6.14	6.73	(4.27)
Net Profit Margin (PBT/Sales)	(%)	30.38	0.00	0.00
Return on Total Assets (PBT/Total Assets}	(%)	11.94	21.61	(9.56)
Return on Investment (ROI) (PBT/Networth)		0.63	0.42	(0.16)
Debt Equity Ratio (Total Liability/Networth)		4.29	1.07	1.01
Current Ratio (Current Asset/Current Liability)		1.08	1.09	0.99

LOCAL AGENCY FURTHER INFORMATION

NOTE

Registered Office of the company has been shifted form No. 236, 7^th C Main, Kalyana Nagar, HRBR Layout, Bangalore – 560 043, Karnataka, India to the present address w.e.f. 15.04.2010.

FIXED ASSETS

· Computers and Printers

· Furniture and Fixtures

· Office Equipments

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.49.23
UK Pound	1	Rs.76.07
Euro	1	Rs.65.06

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	2
PAID-UP CAPITAL	1~10	2
OPERATING SCALE	1~10	2
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	2
--PROFITABILIRY	1~10	2
--LIQUIDITY	1~10	2
--LEVERAGE	1~10	2
--RESERVES	1~10	--
--CREDIT LINES	1~10	--
--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		14

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.