MIRA INFORM REPORT

Report Date :

25.06.2012

IDENTIFICATION DETAILS

Name :	NL STEEL CO., LTD.

Registered Office :	510-8, Dugok-ri, Mado-myeon, Hwaseong-si, Gyeonggi-do, Korea, Zip Code 445-862

Country :	South Korea

Date of Incorporation :	23.12.2010

Com. Reg. No.:	Not Available

Legal Form :	Co., Ltd by Shares

Line of Business :	Wholesale of Basic Metals

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 :	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 – 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	NL STEEL CO., LTD. (Korean Company Name : “(주)엔엘스틸”)
Registered Address	510-8, Dugok-ri, Mado-myeon, Hwaseong-si, Gyeonggi-do, Korea
Zip Code	445-862
Tel	+82-31-357-8481
Fax	+82-2-6008-5679
Trading Address	510-8, Dugok-ri, Mado-myeon, Hwaseong-si, Gyeonggi-do, Korea
Tel	+82-31-357-8481
Fax	+82-2-6008-5679
Type	Export
Industry	Wholesale of Basic Metals
Main Business	Steel Plate
Established (mm/dd/yyyy)	12/23/2010

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Steel plate(30102204)
Sell	Steel(11101704)

CEO’s

Name	Kang Byung-Hyun
Address	Suite 107-1404, 317, Sinnae-dong, Jungnang-gu, Seoul, Korea
Date of Birth	11/15/1970
Title	Representative Director
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	50,000,000
Employees	N/A
Formation	Co., Ltd by Shares
Bank Details	N/A
Corporate Registered No.	134811-0207812
Business Registered No.	124-87-07*** (The full 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	N/A
Company History	12/23/2010 Incorporated as the present name

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Representative Director	Mr.	Kang Byung-Hyun	Male	Korean	12/23/2010
Auditor	M/S.	Cho Sang-Hee	Female	Korean	12/23/2010

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

Steel Plate

Trade Partners & Competitors

Competitors

B STEEL CORPORATION

C-126, MARTWORLD, 520-1, GAMJEON-DONG, SASANG-GU, BUSAN, KOREA

TEL:+82-70-4384-5058 FAX:+82-70-4384-5060

SUNGHO STEEL CO., LTD.

823, CHIMSAN 1-DONG, BUK-GU, DAEGU, KOREA

TEL:+82-53-356-3587 FAX:+82-53-351-7577

HAN MOO INC.

RM. 724, SUSEO HYUNDAI VENTURE VILLE, 713, SUSEO-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-3474-5154 FAX:+82-2-3474-5032

Sales by Region

(Activity & Markets)

The Subject exports to Bangladesh.

Court Action

Not Available.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.56.99
UK Pound	1	Rs.88.97
Euro	1	Rs.71.57

INFORMATION DETAILS

Report Prepared by :

MNL

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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