MIRA INFORM REPORT

Report Date :

25.09.2012

IDENTIFICATION DETAILS

Name :	S&K CONTROLS CO., LTD.

Registered Office :	1127-27, Guro-dong, Guro-gu, Seoul, Korea, Rm.302, Daesung Bldg., Zip Code 152-050

Country :	South korea

Date of Incorporation :	29.12.2008

Com. Reg. No.:	113-86-26692

Legal Form :	Co., Ltd by Shares

Line of Business :	Wholesaler of Electrical Machinery and Related Materials

No. of Employees :	Not Available

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 – 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

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

Company Name	S&K CONTROLS CO., LTD. (Korean Company Name : “(주)에스앤케이콘트롤”)
Registered Address	1127-27, Guro-dong, Guro-gu, Seoul, Korea
Building	Rm.302, Daesung Bldg.
Zip Code	152-050
Tel	+82-2-859-2176
Fax	+82-2-859-2177
E-mail	snk@snkgroup.com
Website	www.snkgroup.com
Trading Address	Rm.302, Daesung Bldg., 1127-27, Guro-dong, Guro-gu, Seoul, Korea (New Address System : Rm.302, Daesung Bldg., 9, Digital-ro 32ga-gil, Guro-gu, Seoul, Korea)
Tel	+82-2-859-2176
Fax	+82-2-859-2177
Type	Import
Industry	Wholesale of Electrical Machinery and Related Materials
Main Business	Connector, Sensor, Blower, Pump, Motor
Established (mm/dd/yyyy)	12/29/2008

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Electronic component parts and raw materials and accessories(32131000)
Sell	Switches and controls and relays and accessories(39121500)

CEO’s

Name	Kim Hyoung-Woog
Address	Suite 107-304, 37, Deungyong-ro, Dongjak-gu, Seoul, Korea
Date of Birth	05/11/1971
Title	President & CEO
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	30,000,000
Employees	3
Formation	Co., Ltd by Shares
Bank Details	N/A
Corporate Registered No.	1101114-020387
Business Registered No.	113-86-26692
Permit & Licenses	N/A
Shareholder Position	N/A
Company History	12/29/2008 Incorporated as the present name 04/09/2012 Moved to the present HQ address from Rm. 1006, Dongnam Officetel, 104-10, Guro 5-dong, Guro-gu, Seoul, Korea

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
President & CEO	Mr.	Kim Hyoung-Woog	Male	Korean	12/29/2011
Director	M/S.	Song Mi-Rye	Female	Korean	03/30/2011
Auditor	M/S.	Kim Jung-Ja	Female	Korean	03/30/2011

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2010	560,000,000
2009	400,000,000

The latest & full 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)	120,000,000
Paid-Up Capital(KRW)	30,000,000
Total Issues Shares	6,000

Products, Technologies, Services Description

Main Products & Services

Connector, Sensor, Blower, Pump, Motor

Trade Partners & Competitors

Competitors

WOOJIN MECHANICAL AND ELECTRIC CO., LTD.

837, IMOK-DONG, JANGAN-GU, SUWON-SI, GYEONGGI- DO, KOREA

TEL:+82-31-249-6121~6 FAX:+82-31-248-7840

DASS TECH CO., LTD.

319-1, SONGDAE-RI, OCHANG-EUP, CHEONGWON-GUN, CHUNGCHEONGBUK-DO, KOREA

TEL:+82-43-218-5670 FAX:+82-43-218-5671

WELD LINE CO., LTD.

379-6, CHEONGCHEON 2-DONG, BUPYEONG-GU, INCHEON, KOREA

TEL:+82-32-507-0991~3 FAX:+82-32-507-0988

Sales by Region

(Activity & Markets)

The Subject imports from Germany, Japan and USA.

Court Action

Not Available.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.53.29
UK Pound	1	Rs.86.44
Euro	1	Rs.68.95

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%)

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.