MIRA INFORM REPORT

Report Date :

29.12.2012

IDENTIFICATION DETAILS

Name :	SAMSUN TRADE CO., LTD.

Registered Office :	Rm.201, 1-158, Woram-dong, Dalseo-gu, Daegu, Korea 704-832

Country :	South Korea

Date of Incorporation :	06.07.2006

Com. Reg. No.:	503-81-72977

Legal Form :	Co., Ltd by shares

Line of Business :	Wholesales of Textiles, Textile Machinery and Parts, Textile Products & Machinery

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 :	Moderate

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 – June 30^th, 2012

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

South Korea

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

South Korea - ECONOMIC OVERVIEW

South Korea over the past four decades has demonstrated incredible growth and global integration to become a high-tech industrialized economy. In the 1960s, GDP per capita was comparable with levels in the poorer countries of Africa and Asia. In 2004, South Korea joined the trillion dollar club of world economies, and currently is among the world's 20 largest economies. Initially, a system of close government and business ties, including directed credit and import restrictions, made this success possible. The government promoted the import of raw materials and technology at the expense of consumer goods, and encouraged savings and investment over consumption. The Asian financial crisis of 1997-98 exposed longstanding weaknesses in South Korea''s development model including high debt/equity ratios and massive short-term foreign borrowing. GDP plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted numerous economic reforms following the crisis, including greater openness to foreign investment and imports. Growth moderated to about 4% annually between 2003 and 2007. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. The South Korean economy''s long term challenges include a rapidly aging population, inflexible labor market, and heavy reliance on exports - which comprise half of GDP.

Source : CIA

Basic Information

Company Name	SAMSUN TRADE CO., LTD.
Registered Address	Rm.201, 1-158, Woram-dong, Dalseo-gu, Daegu, Korea
Zip Code	704-832
Tel	+82-53-593-6901
Fax	+82-53-593-6902
E-mail	kaanworld@yahoo.co.kr
Trading Address	Rm.201, 1-158, Woram-dong, Dalseo-gu, Daegu, Korea (New Address System : 16, Seongseogongdan-ro 22an-gil, Dalseo-gu, Daegu, Korea)
Tel	+82-53-593-6901
Fax	+82-53-593-6902
Type	Export/Import
Industry	Wholesales of Textiles, Textile Machinery and Parts, Textile Products & Machinery
Main Business	Wholesales of Machinery for Other Textiles, Apparel and Leather Processing
Established (mm/dd/yyyy)	07/06/2006

The Subject Company occupies the premises of registered HQ address by leasing base.

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Textile working machinery and equipment and accessories(23121600)
Sell	Silk processing machines(23121613)
Sell	Textile and fabric machinery and accessories(23120000)
Sell	Printing machinery and equipment(45101500)

CEO’s

Name	Ismail Khan
Address	Suite 107-1506, 9, Maegok-ro 4-gil, Dasa-eup, Dalseong-gun, Daegu, Korea
Date of Birth	10/18/1972
Title	Managing Director
Sex	Male
Nationality	Pakistani-Korean

Profiles

Capital (KRW)	50,000,000
Employees	2
Formation	Co., Ltd by shares
Bank Details	Korea Exchange Bank
Corporate Registered No.	170111-0313057
Business Registered No.	503-81-72977
Permit & Licenses	Int’l Trade No.: 13126494
Shareholder Position	N/A
Company History	07/06/2006 Incorporated as the present name 11/01/2007 Moved to the present HQ address from Rm.105-507, 1332, Igok-dong, Dalseo-gu, Daegu, Korea

Detailed Information

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Managing Director	Mr.	Ismail Khan	Male	Pakistani-Korean	07/06/2006
Director	Mr.	Kim Tae-Dong	Male	Korean	02/02/2009
Auditor	Mr.	Ismail Mehunaz	Male	Pakistani	02/02/2009

Financials

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

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)	200,000,000
Paid-Up Capital(KRW)	50,000,000
Total Issued Shares	10,000

Products, Technologies, Services Description

Main Products & Services	Textile Rotary Printing Machine
Detailed Products Spec.
Technologies Acquired

Trade Partners & Competitors

Suppliers

Customers

Competitors

AHJIN MACHINERY CO.

3RD FL., A-DONG, AJIN BLDG., 237, NAE-DONG, OJEONG-GU, BUCHEON-SI, GYEONGGI-DO, KOREA

TEL:+82-32-683-0090 FAX:+82-32-683-1365

DAEKWANG INDUSTRIAL CO.

1693-2, SINIL-DONG, DAEDEOK-GU, DAEJEON, KOREA

TEL:+82-42-934-4422 FAX:+82-42-934-4423

DONG-A GARMENT PRESS CO.

152-16, SINDANG 5-DONG, JUNG-GU, SEOUL, KOREA

TEL:+82-2-2237-1981 FAX:+82-2-2237-5144

News Clipping

Not Available.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.54.85
UK Pound	1	Rs.88.40
Euro	1	Rs.72.63

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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