MIRA INFORM REPORT

Report Date :

18.08.2014

IDENTIFICATION DETAILS

Name :	SEIL ENTERPRISE CO.

Registered Office :	53, Gasan Digital 2-Ro, Geumcheon-gu, Seoul

Country :	South Korea

Date of Incorporation :	11.01.1996

Com. Reg. No.:	106-40-73016

Legal Form :	Sole Proprietorship

Line of Business :	Wholesale of Medical, Precision and Scientific Instruments and Equipment

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 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

South Korea

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderate Low Risk	B1
Moderate Risk	B2
Moderate High Risk	C1
High Risk	C2
Very High Risk	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 is currently the world's 12th largest economy. 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. South 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. South Korea's export focused economy was hit hard by the 2008 global economic downturn, but quickly rebounded in subsequent years, reaching 6.3% growth in 2010. The US-Korea Free Trade Agreement was ratified by both governments in 2011 and went into effect in March 2012. Throughout 2012 and 2013 the economy experienced sluggish growth because of market slowdowns in the United States, China, and the Eurozone. The administration in 2014 is likely to face the challenge of balancing heavy reliance on exports with developing domestic-oriented sectors, such as services. The South Korean economy's long term challenges include a rapidly aging population, inflexible labor market, dominance of large conglomerates (chaebols), and heavy reliance on exports, which comprise about half of GDP.

Source : CIA

Basic Information

Company Name	SEIL ENTERPRISE CO.
Registered Address	53, Gasan digital 2-ro, Geumcheon-gu, Seoul, Korea
Building	Rm. 405, Halla Sigma Valley
Zip Code	153-706
Tel	+82-2-396-7993
Fax	+82-2-6670-2401
E-mail	sales@maxiflo.co.kr
Website	www.maxiflo.co.kr

Trading Address	Rm. 405, Halla Sigma Valley, 53, Gasan digital 2-ro, Geumcheon-gu, Seoul, Korea (Old Address System : Rm. 405, Halla Sigma Valley, 345-90, Gasan-dong, Geumcheon-gu, Seoul, Korea)
Tel	+82-2-6343-6473
Fax	+82-2-6670-2401

Type	Export
Industry	Wholesale of Medical, Precision and Scientific Instruments and Equipment
Main Business	Flow Meter, Level Meter, Measuring Instrument, Calibration System

Established (mm/dd/yyyy)	11/01/1996

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Flowmeters(41112501)
Sell	Gas gauges(41112508)
Sell	Calorimeters(41112201)
Sell	Nozzles(40141731)

CEO’s

Name	Suh Suk-Ho
Title	Owner
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	Not Applicable to the Sole Proprietorship
Employees	2
Formation	Sole Proprietorship
Bank Details	N/A
Corporate Registered No.	Not Applicable to the Sole Proprietorship
Business Registered No.	106-40-73016
Permit & Licenses	N/A
Shareholder Position	The owner has 100% shares.
Company History	11/01/1996 Established as the present name

Management

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Owner

Mr.

Suh Suk-Ho

Male

Korean

11/01/1996

Financials

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 Issued Shares	Not Applicable to the Sole Proprietorship

Products, Technologies, Services Description

Main Products & Services

Flow Meter, Level Meter, Measuring Instrument, Calibration System

Trade Partners & Competitors

Competitors

SHIN AN CAST IRON CO., LTD.

345-2, BEOPHWA-RI, YONGSAN-MYEON, YEONGDONG-GUN, CHUNGCHEONGBUK-DO, KOREA

TEL:+82-43-743-1090 FAX:+82-43-743-1098

SECHANG CASTIRON IND. CO., LTD.

1470, SONGGOK-RI, DASAN-MYEON, GORYEONG-GUN, GYEONGSANGBUK-DO, KOREA

TEL:+82-54-956-1171 FAX:+82-54-954-1470

DOSSIRO CO., LTD.

RM. 403, GEUMGANG LIVINGSTEL, 400-1, SINDORIM-DONG, GURO-GU, SEOUL, KOREA

TEL:+82-2-2672-8088 FAX:+82-2-2672-8055

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

-------

Sales by Region (Activity & Markets)

The Subject exports to Taiwan, Singapore, Iran, Canada, Thailand and Pakistan.

Court Action

Not Available.

News Clipping

-----

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.06
UK Pound	1	Rs.101.84
Euro	1	Rs.81.56

INFORMATION DETAILS

Analysis Done by :	DIV

Report Prepared by :	NIT

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.