MIRA INFORM REPORT

Report Date :

24.04.2012

IDENTIFICATION DETAILS

Name :	LIVING HANDS CO., LTD.

Formerly Known As :	Rino Tongsang Co.

Registered Office :	357, Dohwa-dong, Mapo-gu, Seoul, Korea, B01, 12-dong, Hyundai 1-cha Apt. Complex, Zip Code 121-040

Country :	South Korea

Financials (as on) :	31.12.2009

Date of Incorporation :	13.01.2000

Com. Reg. No.:	215-81-86711

Legal Form :	Co., Ltd by Shares

Line of Business :	Wholesale of Curtains and Bedding

No. of Employees :	09

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 :	No Complaints

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 – March 31^st, 2012

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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	LIVING HANDS CO., LTD. (Korean Company Name : “(주)리빙핸즈”)
Registered Address	357, Dohwa-dong, Mapo-gu, Seoul, Korea
Building	B01, 12-dong, Hyundai 1-cha Apt. Complex
Zip Code	121-040
Tel	+82-2-703-4088
Fax	+82-2-703-4878
E-mail	master@livinghands.co.kr
Website	www.livinghands.co.kr
Trading Address	B01, 12-dong, Hyundai 1-cha Apt. Complex, 357, Dohwa-dong, Mapo-gu, Seoul, Korea
Tel	+82-2-703-4088
Fax	+82-2-703-4878
Other Address	420, Seongseok-dong, Ilsandong-gu, Goyang-si, Gyeonggi-do, Korea
Tel	+82-31-977-9261
Type	Import
Industry	Wholesale of Curtains and Bedding
Main Business	Mats, Rugs, Carpet
Established (mm/dd/yyyy)	01/13/2000

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Rugs and mats(52101500)
Sell	Blankets(52121508)
Sell	Carpeting(30161701)

CEO’s

Name	Hong Geun-Chul
Address	Suite 2304-603, 105, Hwashin-ro, Deogyang-gu, Goyang-si, Gyeonggi-do, Korea
Date of Birth	09/07/1961
Title	President & CEO
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	300,000,000
Employees	9
Formation	Co., Ltd by Shares
Bank Details	Woori Bank(A/C No.: 1005-101-043049) Citibank, Korea-Shin Neunggok Branch
Corporate Registered No.	110111-1851321
Business Registered No.	215-81-86711
Permit & Licenses	N/A
Shareholder Position	N/A
Company History	09/01/1992 Established as Rino Tongsang Co.(Sole proprietorship) 01/13/2000 Incorporated as the present name 01/02/2003 Moved to the present HQ address from 48-12, Garak-dong, Songpa-gu, Seoul, Korea 06/01/2006 Increased the authorized shares to 1,000,000 shares from 200,000 shares 06/06/2006 Increased capital to 300,000,000 KRW from 200,000,000 KRW

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
President & CEO	Mr.	Hong Geun-Chul	Male	Korean	10/13/2006
Director	Mr.	Lee Young-Jin	Male	Korean	04/18/2007
Auditor	M/S.	Lee Young-Sook	Female	Korean	10/02/2002

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2011
2010
2009	1,563,000,000	2,661,000,000	25,000,000
2008	1,521,000,000	2,165,000,000	3,000,000

The latest 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)	1,000,000,000
Paid-Up Capital(KRW)	300,000,000
Total Issued Shares	300,000

Balance Sheet
Unit : Korean Won	As of 12/31/2010	As of 12/31/2009	As of 12/31/2008
Total Assets		2,661,000,000	2,165,000,000
Current Assets		2,054,000,000	1,501,000,000
-Quick Assets		1,101,000,000	630,000,000
-Inventories		953,000,000	871,000,000
Fixed Assets		607,000,000	664,000,000
-Investment		53,000,000	101,000,000
-Tangibles		490,000,000	500,000,000
-Intangibles		1,000,000	1,000,000
-Others		63,000,000	63,000,000
Total Liabilities		2,137,000,000	1,663,000,000
Current Liabilities		1,167,000,000	693,000,000
Fixed Liabilities		970,000,000	970,000,000
Capital Stock		300,000,000	300,000,000
Capital Surplus		-	-
Profit Surplus		224,000,000	203,000,000
Capital Adjustment		-	-
Total Equity		524,000,000	502,000,000
Liab. & Shareholder’s Equity		2,661,000,000	2,165,000,000

Income Statement
Unit : Korean Won	As of 12/31/2010	As of 12/31/2009	As of 12/31/2008
Sales		1,563,000,000	1,521,000,000
Cost of Sold Goods		800,000,000	828,000,000
Gross Profit		764,000,000	693,000,000
Selling & Admin. Expenses		662,000,000	638,000,000
Operating Income		102,000,000	55,000,000
Non-Operating Income		11,000,000	3,000,000
Non-Operating Expenses		87,000,000	56,000,000
Income Before Taxes		25,000,000	3,000,000
Income Taxes Expenses
Net Income		25,000,000	3,000,000

Products, Technologies, Services Description

Main Products & Services

Mats, Rugs, Carpet

Trade Partners & Competitors

Competitors

WONU CO., LTD.

2ND FL., SEO-IL BLDG., 222, JAMSILBON-DONG, SONGPA-GU, SEOUL, KOREA

TEL:+82-2-569-5722 FAX:+82-2-569-5081

NAMHWA CORPORATION

4TH FL., DAR BLDG., 93-5, CHEONGDAM-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-784-9142~4 FAX:+82-2-784-9607

BOOMIN ENTERPRISE CO., LTD.

576, GAPSAN-RI, ANGANG-EUP, GYEONGJU-SI, GYEONGSANGBUK-DO, KOREA

TEL:+82-54-761-8677 FAX:+82-54-761-3642

Sales by Region

(Activity & Markets)

The Subject imports from India.

Court Action

Not Available.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.23
UK Pound	1	Rs.84.16
Euro	1	Rs.68.84

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.