1. Summary Information

		Country	India
Company Name	IL JIN ELECTRONICS (INDIA) PRIVATE LIMITED	Principal Name 1	Mr. Hyun Chul Sim
Status	Satisfactory	Principal Name 2	Mr. Sang Lyeol Cha
		Registration #	55-112387
Street Address	1/24, Asaf Ali Road, Ground Floor, New Delhi – 110002, India
Established Date	11.09.2001	SIC Code	--
Telephone#	91-11-23234552	Business Style 1	Manufacturer
Fax #	Not Available	Business Style 2	Supplier
Homepage	-	Product Name 1	Printing Circuit Board
# of employees	Not Available	Product Name 2	-
Paid up capital	Rs.10,274,380/-	Product Name 3	-
Shareholders	Directors or relatives of Directors-100%	Banking	Citi Nank N.A.
Public Limited Corp.	No	Business Period	10 Years
IPO	No	International Ins.	-
Public Enterprise	No	Rating	Ba [46]
Related Company
Relation	Country	Company Name	CEO
Associate	South Korea	IL Jin Electronics Limited	-
Note	-

2. Summary Financial Statement

Balance Sheet as of	31.03.2010		(Unit: Indian Rs.)
Assets		Liabilities
Current Assets	256,457,000	Current Liabilities	364,364,000
Inventories	140,268,000	Long-term Liabilities	29,534,000
Fixed Assets	106,780,000	Other Liabilities	26,388,000
Deferred Assets	0,000	Total Liabilities	420,286,000
Invest& other Assets	32,133,000	Retained Earnings	105,078,000
		Net Worth	115,352,000
Total Assets	535,638,000	Total Liab. & Equity	535,638,000
Total Assets (Previous Year)	432,405,000
P/L Statement as of	31.03.2010		(Unit: Indian Rs.)
Sales	1,580,176,000	Net Profit	30,081,000
Sales(Previous yr)	1,014,061,000	Net Profit(Prev.yr)	7,328,000

MIRA INFORM REPORT

Report Date :

19.10.2011

IDENTIFICATION DETAILS

Name :	IL JIN ELECTRONICS (INDIA) PRIVATE LIMITED
Registered Office :	1/24, Asaf Ali Road, Ground Floor, New Delhi - 110002
Country :	India
Financials (as on) :	31.03.2010
Date of Incorporation :	11.09.2001
Com. Reg. No.:	55-112387
Capital Investment / Paid-up Capital :	Rs.10.274 Millions
CIN No.: [Company Identification No.]	U31909DL2001PTC112387
TAN No.: [Tax Deduction & Collection Account No.]	DELI03282G
PAN No.: [Permanent Account No.]	AAACI0344L
Legal Form :	Private Limited Liability Company
Line of Business :	Manufacturer and Supplier of Printing Circuit Board
No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

Ba [46]

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 461000
Status :	Satisfactory
Payment Behaviour :	Usually Correct
Litigation :	Clear
Comments :	Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitments. The company can be considered normal for business dealings at usual 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 – September 30, 2011

Country Name

Previous Rating (30.06.2011)

Current Rating (30.09.2011)

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 – 110002, India
Tel. No.:	91-11-23234552
Fax No.:	Not Available
E-Mail :	v_a_m@vsnl.com
Factory :	B-48, Hosiery Complex, Phase 2, Noida – 201305, Uttar Pradesh, India
Tel. No.:	91-120-4323981-83 / 4009927
Fax No.:	91-120-4009905

DIRECTORS

As on 30.09.2010

Name :

Mr. Hyun Chul Sim

Designation :

Director

Address :

1511 ATS Green Village, 1^st Floor, Sector 93A, Noida – 201301, Uttar Pradesh, India

Date of Birth/Age :

24.08.1976

Date of Appointment :

01.09.2005

DIN :

02007189

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	U31909DL2001PTC112387	IL JIN ELECTRONICS (INDIA) PRIVATE LIMITED	Director	1/9/2005	1/9/2005	Active	NO
2	U51395DL2008PTC185839	HANA ELECTRONICS INDIA PRIVATE LIMITED	Director	15/12/2008	15/12/2008	Active	YES

Name :

Mr. Sang Lyeol Cha

Designation :

Director

Address :

1953, ATS III, Green Village, Sector-93 A, Noida – 201305, Uttar Pradesh, India

Date of Birth/Age :

09.11.1961

Date of Appointment :

15.09.2006

DIN :

02338813

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

As on 30.09.2010

Names of Shareholders	No. of Shares
Hyun Chul Sim	1027428
Lee A Su	10
Total	1027438

As on 30.09.2010

Equity Share Break Up Category	Percentage
Directors or relatives of Directors	100.00
Total	100.00

BUSINESS DETAILS

Line of Business :

Manufacturer and Supplier of Printing Circuit Board

GENERAL INFORMATION

No. of Employees :

Not Available

Bankers :

• Citibank N.A., Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, India
• Shinhan Bank, Korea

Facilities :

Secured Loan [Rs. in million]	31.03.2010	31.03.2009
From Banks -
Term Loan Secured by way of hypothecation of vehicles (Due within one year • Nil)	0.000	0.535
Interest accrued on the above	0.000	0.006
Short Term Loan Secured by deposit In Shinhan Bank, Korea by Director (Due within one year - Rs 7.000 millions)	7.000	7.000
Interest accrued on the above	0.068	0.077
Working capital facility Secured by exclusive first charge on all present and future receivables, inventories and plant and machinery, personally guaranteed by Director	13.250	1.636
Interest accrued on the above	0.072	0.000
From Others - Secured byway of mortgage of apartment in Uniworld City, Greater Noida (Due within one year - Rs.6.214 millions)	6.214	0.000
Interest accrued on the above Secured by way of hypothecation of commercial vehicles under a Hire Purchase Agreement (Due within one year -Rs. Nil)	0.046 0.000	0.114 0.124
Interest accrued on the above	0.004	0.025
Total	26.654	9.517
Unsecured Loan [Rs. in million]	31.03.2010	31.03.2009
From Shareholders	2.880	2.880
Total	2.880	2.880

Banking Relations :	--
Financial Institution :	INTEC Securities Limited, 701, Manjusha, 57, Nehru Place, New Delhi – 110019, India
Auditors :
Name :	V A Mehta and Company Chartered Accountants
Address :	409-409A, International Trade Tower, Nehru Place, New Delhi – 110019, India
Tel. No.:	91-11-26470003
Fax No.:	91-11-46705533
E-Mail :	office@vamco.in
PAN :	AAAFV0033A
Associates :	IL Jin Electronics Limited – South Korea

CAPITAL STRUCTURE

As on 30.09.2010

Authorised Capital :

No. of Shares	Type	Value	Amount
2,000,000	Equity Shares	Rs.10/- each	Rs.20.000 millions

Issued, Subscribed & Paid-up Capital :

No. of Shares	Type	Value	Amount
1,027,438	Equity Shares	Rs.10/- each	Rs.10.274 millions

FINANCIAL DATA

[all figures are in Rupees Millions]

ABRIDGED BALANCE SHEET

Particulars		31.03.2010	31.03.2009	31.03.2008
SHAREHOLDERS FUNDS
1] Share Capital		10.274	10.274	10.274
2] Share Application Money		0.000	0.000	0.000
3] Reserves & Surplus		105.078	74.997	67.668
4] (Accumulated Losses)		0.000	0.000	0.000
NETWORTH		115.352	85.271	77.942
LOAN FUNDS
1] Secured Loans		26.654	9.517	14.185
2] Unsecured Loans		2.880	2.880	0.000
TOTAL BORROWING		29.534	12.397	14.185
DEFERRED TAX LIABILITIES		8.758	6.739	6.863
TOTAL		153.644	104.407	98.990
APPLICATION OF FUNDS
FIXED ASSETS [Net Block]		106.780	63.997	66.671
Capital work-in-progress		32.133	39.153	26.198
INVESTMENT		0.000	0.000	0.000
DEFERREX TAX ASSETS		0.000	0.000	0.000
CURRENT ASSETS, LOANS & ADVANCES
	Inventories	140.268	131.316	150.491
	Sundry Debtors	194.303	160.933	156.463
	Cash & Bank Balances	4.326	4.134	1.553
	Other Current Assets	0.000	0.000	0.000
	Loans & Advances	57.828	32.872	23.793
Total Current Assets		396.725	329.255	332.300
Less : CURRENT LIABILITIES & PROVISIONS
	Sundry Creditors	352.082	313.701	307.678
	Other Current Liabilities	12.282	2.924	12.461
	Provisions	17.630	11.373	6.040
Total Current Liabilities		381.994	327.998	326.179
Net Current Assets		14.731	1.257	6.121
MISCELLANEOUS EXPENSES		0.000	0.000	0.000
TOTAL		153.644	104.407	98.990

PROFIT & LOSS ACCOUNT

	PARTICULARS		31.03.2010	31.03.2009	31.03.2008
	TURNOVER		1580.176	1014.061	716.506
	PROFIT / [LOSS] BEFORE TAX		47.400	12.599	15.213
Less	TAX		17.319	5.271	6.786
	PROFIT / [LOSS] AFTER TAX		30.081	7.328	8.427
	IMPORTS
		Raw Materials	NA	288.164	185.677
		Plant and Machinery	NA	2.774	7.184
	TOTAL IMPORTS		NA	290.938	192.861
	Earnings/[Loss] Per Share (Rs.)		29.28	-	-

KEY RATIOS

PARTICULARS		31.03.2010	31.03.2009	31.03.2008
Return on Total Assets (PBT/Total Assets}	(%)	9.41	3.20	3.81
Return on Investment (ROI) (PBT/Networth)		0.41	0.15	0.19
Debt Equity Ratio (Total Liability/Networth)		3.57	3.99	4.37
Current Ratio (Current Asset/Current Liability)		1.04	1.00	1.02

LOCAL AGENCY FURTHER INFORMATION

Note : Registered office address of the company has been shifted from New Delhi – 110024, India to the present address w.e.f. 26.04.2007

Bankers Charges Report as per Registry

Corporate identity number of the company	U31909DL2001PTC112387
Name of the company	IL JIN ELECTRONICS (INDIA) PRIVATE LIMITED
Address of the registered office or of the principal place of business in India of the company	1/24, Asaf Ali Road, Ground Floor, New Delhi – 110002, India
This form is for	Creation of charge
Type of charge	Book Debts Immovable Property Others – Stocks
Particular of charge holder	Citibank N.A., Jeevan Bharti Building, 4th Floor, 124 Connaught Circus, Connaught Place, New Delhi - 110001, India
Nature of instrument creating charge	Goods Security Agreement. Memorandum of Entry.
Date of instrument Creating the charge	07.09.2011
Amount secured by the charge	Rs.48.000 Millions
Brief of the principal terms an conditions and extent and operation of the charge	Rate of Interest - @ 11.00% per annum. Terms of Repayment - Repayable on demand, annually renewable. Margin – 25% against the said stocks. 25% against the said book debts. Extent and Operation of the charge - First pari-passu charge by hypothecation of all the borrower's movable assets (including stocks and book debts) forming part of its current assets both present and future. First pari-passu charge on the property at Plot No. 27, Udyog Kendra, Ecotech III, Greater Noida industrial Development Area, Gautam Budh Nagar, Uttar Pradesh In favour of Citibank N.A Delhi for the repayment of all monies in respect of the credit facility, including outstanding balance and also all interest, costs, charges and expenses
Short particulars of the property or asset(s) charged (including complete address and location of the property)	Hypothecation of all the borrower's movable assets (including stocks and book debts) forming part of its current assets both present and future. Plot No. 27, Udyog Kendra, Ecotech III, Greater Noida industrial Development Area, Gautam Budh Nagar, Uttar Pradesh

FIXED ASSETS :

§ Leasehold Land

§ Building

§ Plant and Machinery

§ Furniture and Fixtures

§ Computer

§ Computer Software

§ Office Equipments

§ Electrical Installations

§ Vehicles

§ Air Conditioner

§ Generator

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.49.13
UK Pound	1	Rs.77.58
Euro	1	Rs.67.58

SCORE & RATING EXPLANATIONS

SCORE FACTORS	RANGE	POINTS
HISTORY	1~10	5
PAID-UP CAPITAL	1~10	5
OPERATING SCALE	1~10	5
FINANCIAL CONDITION
--BUSINESS SCALE	1~10	5
--PROFITABILIRY	1~10	6
--LIQUIDITY	1~10	5
--LEVERAGE	1~10	5
--RESERVES	1~10	5
--CREDIT LINES	1~10	5
--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		46

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.