MIRA INFORM REPORT

Report Date :

30.04.2012

IDENTIFICATION DETAILS

Name :	SUNGHYE TRADING INC.

Registered Office :	456-4, Punggok-ri, Gochon-eup, Gimpo-si, Gyeonggi-do, Korea

Country :	South Korea

Date of Incorporation :	Not Available

Legal Form :	Sole Proprietorship

Line of Business :	Not Available

No. of Employees :	Not Available

RATING & COMMENTS

MIRA’s Rating :

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 :	Undetermined

Payment Behaviour :	Unknown

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 – September 30, 2011

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	SUNGHYE TRADING INC.
Registered Address	456-4, Punggok-ri, Gochon-eup, Gimpo-si, Gyeonggi-do, Korea
Building
Zip Code	415-813
Tel	+82-70-7012-8790
Fax	+82-31-986-6843
E-mail
Website
Trading Address	456-4, Punggok-ri, Gochon-eup, Gimpo-si, Gyeonggi-do, Korea
Tel	+82-70-7012-8790
Fax	+82-31-986-6843
Other Address
Tel
Fax
Type	N/A
Industry	N/A
Main Business
Sub Business
Established (mm/dd/yyyy)	N/A

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	N/A

CEO’s

Name	N/A
Address
Date of Birth
Title	Owner
Sex	N/A
Nationality	N/A

Profiles

Capital (KRW)	Not Applicable to the Sole Proprietorship
Employees	N/A
Formation	Sole Proprietorship
Bank Details	N/A
Corporate Registered No.	Not Applicable to the Sole Proprietorship
Business Registered No.	N/A. (The numbers are kept by the National Tax Service confidentially.) Because the subject’s full Business Registered No., for checking through the National Tax Service whether the subject is still existing or not, is not available, so we cannot confirm if the subject exist or not legally.)
Permit & Licenses	N/A
Shareholder Position	The owner has 100% shares.
Company History	N/A

Due to lack of the information, we tried to contact at +82-70-7012-8790, but this number is not existing number. And in the contact at +82-31-986-6843, no one received our calls.

The premises at 456-4, Punggok-ri, Gochon-eup, Gimpo-si, Gyeonggi-do, Korea have been owned by Mr. Lee Soon-Han since 05/31/1976.

In our research through the official sources including the Supreme Court Registry at which every Co Ltd type of Company should be registered, we could not find the subject company. So we submit the report as a Sole Proprietorship Type of Company.

Detailed Information

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Owner		N/A

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2011
2010
2009
2008
2007
2006
2005
2004
2003

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 Issues Shares	Not Applicable to the Sole Proprietorship

Sales by Region (Activity & Markets)

Not Available.

Court Action

Not Available.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.52.68
UK Pound	1	Rs.85.12
Euro	1	Rs.69.38

INFORMATION DETAILS

Report Prepared by :

SDA

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.