MIRA INFORM REPORT

Report Date :

25.08.2014

IDENTIFICATION DETAILS

Name :	ARABELLA CO., LTD.

Registered Office :	2652, Nambusunhwan-ro, Seocho-gu, Seoul, Korea

Country :	South Korea

Date of Incorporation :	15.12.2004

Com. Reg. No.:	220-87-01870

Legal Form :	Company Limited By Shares

Line of Business :	Wholesale of Underwear and Night Clothes

No of Employees :	07

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	ARABELLA CO., LTD. (Korean Company Name : “(주)아라벨라”)
Registered Address	2652, Nambusunhwan-ro, Seocho-gu, Seoul, Korea
Building	Rm.501, Daemyung Bldg.
Zip Code	137-886
Tel	+82-2-539-6671
Fax	+82-2-539-8103
E-mail	ksw37@hanmail.net;emotionplus@emotionplus.co.kr
Website	www.nubrausa.com
Trading Address	Rm.501, Daemyung Bldg., 2652, Nambusunhwan-ro, Seocho-gu, Seoul, Korea (Old Address System : Rm.501, Daemyung Bldg., 2-37, Yangjae 1-dong, Seocho-gu, Seoul, Korea)
Tel	+82-2-539-6671
Fax	+82-2-539-8103
Other Address	1FL., 35, Gangnam-daero 118-gil, Gangnam-gu, Seoul, Korea
Tel
Fax
Type	Import
Industry	Wholesales of Underwear and Night Clothes
Main Business	Panty, Brassieres, Cosmetics, Bags, Leather Products, Coffee
Sub Business
Established (mm/dd/yyyy)	12/15/2004

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Brassieres(53102304)
Sell	Body shaping garments(53102307)
Sell	Underpants(53102303)
Sell	Stockings(53102401)
Sell	Nightwear(53102600)
Sell	Undergarments(53102300)
Sell	Slips(53102302)

CEO’s

Name	Jung Young-Ran
Address	Suite 109-1202, 20, Seolleung-ro 69-gil, Gangnam-gu, Seoul, Korea
Date of Birth	02/21/1968
Title	Representative Director
Sex	Female
Nationality	Korean

Profiles

Capital (KRW)	775,000,000
Employees	7
Formation	Co., Ltd by Shares
Bank Details	Woori Bank-Nonhyun Dong Branch
Corporate Registered No.	110111-3132290
Business Registered No.	220-87-01870
Permit & Licenses	Int’l Trade No.: 45201060
Shareholder Position	Woori Bank-Woomyun Dong
Company History	12/15/2004 Incorporated as TETIS CO., LTD. 02/22/2007 Changed company name to the present name 06/27/2007 Increased the authorized shares to 1,000,000 shares from 40,000 shares 03/10/2009 Moved to the present HQ address from 826-35, Yeoksam-dong, Gangnam-gu, Seoul, Korea 04/02/2013 Increased capital to 775,000,000 KRW from 650,000,000 KRW

Detailed Information

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
Representative Director	M/S.	Jung Young-Ran	Female	Korean	12/05/2011
Auditor	Mr.	Jung Il-Young	Male	Korean	02/22/2007

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2013
2012
2011
2010
2009
2008	491,000,000	683,000,000	23,000,000

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)	5,000,000,000
Paid-Up Capital(KRW)	775,000,000
Total Issued Shares	155,000

Products, Technologies, Services Description

Main Products & Services	Panty, Brassieres, Cosmetics, Bags, Leather Products, Coffee
Detailed Products Spec.
Technologies Acquired

Trade Partners & Competitors

Suppliers

BRAGEL INTERNATIONAL INC.(USA)

COSABELLA(ITALY)

Customers

Competitors

SHINYOUNG WACOAL, INC.

345-54, GASAN-DONG, GEUMCHEON-GU, SEOUL, KOREA

TEL:+82-2-818-5114 FAX:+82-2-869-5613

BYC CO., LTD.

1104-1, DAERIM 2-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA

TEL:+82-2-840-3114 FAX:+82-2-840-3193

COWELL FASHION CO., LTD.

5TH FL., GANGNAM METRO BLDG., 1339-9, SEOCHO 2-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-581-5678 FAX:+82-2-581-5657

Sales by Region (Activity & Markets)

Not Available.

Court Action

Not Available.

News Clipping

-----

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.77
UK Pound	1	Rs.100.72
Euro	1	Rs.80.55

INFORMATION DETAILS

Analysis Done by :	KAR

Report Prepared by :	TPT

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.