MIRA INFORM REPORT

Report Date :

10.12.2014

IDENTIFICATION DETAILS

Name :	BTS INC.

Registered Office :	14, Sinseok-Ro 112beon-Gil, Seo-Gu, Incheon

Country :	South Korea

Date of Incorporation :	27.05.1999

Com. Reg. No.:	207-81-55309

Legal Form :	Co., Ltd by Shares

Line of Business :	Wholesale of Other Industrial Machinery 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 – September 30, 2014

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

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 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	BTS INC.
Registered Address	14, Sinseok-ro 112beon-gil, Seo-gu, Incheon, Korea
Building	--
Zip Code	404-826
Tel	+82-32-584-0548
Fax	+82-32-584-3338
E-mail	bts0548@korea.com

Trading Address	14, Sinseok-ro 112beon-gil, Seo-gu, Incheon, Korea (Old Address System : 506-7, Seongnam 1-dong, Seo-gu, Incheon, Korea)
Tel	+82-32-584-0548
Fax	+82-32-584-3338

Type	Export
Industry	Wholesale of Other Industrial Machinery and Equipment
Main Business	Textile Machine, Spare Parts

Established (mm/dd/yyyy)	05/27/1999

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Textile processing machinery and accessories(23121500)
Sell	Textile working machinery and equipment and accessories(23121600)

CEO’s

Name	Park Sung-Kook
Address	Suite 301-1201, 4, Yeomgok-ro 220beon-gil, Seo-gu, Incheon, Korea
Date of Birth	04/11/1967
Title	President & CEO
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	100,000,000
Employees	2
Formation	Co., Ltd by Shares
Bank Details	Woori Bank-Gunja Station Branch
Corporate Registered No.	110111-1703986
Business Registered No.	207-81-55309
Permit & Licenses	Int’l Trade No.: 11345512
Shareholder Position	N/A
Company History	06/01/1995 Established BETEX KOREA(Sole Proprietorship) 05/271999 Incorporated as BETEX Corporation 03/2002 Changed company name to the present name 05/30/2013 Moved to the present HQ address from 44-6, Seokjeong-ri, Daegot-myeon, Gimpo-si, Gyeonggi-do, Korea

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
President & CEO	Mr.	Park Sung-Kook	Male	Korean	02/22/2002
Director	M/S.	Ko Mi-Sook	Female	Korean	05/30/2013
Director	M/S.	Song Mal-Ja	Female	Korean	05/30/2013
Auditor	M/S.	Lee Wol-Rye	Female	Korean	05/30/2013

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)	200,000,000
Paid-Up Capital(KRW)	100,000,000
Total Issued Shares	10,000

Products, Technologies, Services Description

Main Products & Services	Textile Machine, Spare Parts
Detailed Products Spec.
Technologies Acquired

Trade Partners & Competitors

Competitors

EHWHA GLOTEC CO., LTD.

RM. 407, GYEONGGI TECHNO PARK, 1271-11, SA 3-DONG, SANGNOK-GU, ANSAN-SI, GYEONGGI-DO, KOREA

TEL:+82-31-491-4191 FAX:+82-31-491-4194

A. M. S. CORPORATION

RM. 708, HYUNDAI TOWER, 7-28, SINCHEON-DONG, SONGPA-GU, SEOUL, KOREA

TEL:+82-2-3431-1692 FAX:+82-2-3431-1695

OKWON INDUSTRY CO., LTD.

100-58, GALSAN-DONG, DALSEO-GU, DAEGU, KOREA

TEL:+82-53-583-1722 FAX:+82-53-582-1724

Sales by Region (Activity & Markets)

Not Available.

Court Action

Not Available.

News Clipping

----------

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.61.88
UK Pound	1	Rs.96.90
Euro	1	Rs.76.29

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.