MIRA INFORM REPORT

Report Date :

16.12.2014

IDENTIFICATION DETAILS

Name :	DH EURO HITECH CO., LTD.

Registered Office :	285, Mokdongseo-ro, Yangcheon-gu, Seoul, Rm. 703, Gold Plaza 158-070

Country :	South Korea

Date of Incorporation :	07.11.2002

Com. Reg. No.:	108-81-56127

Legal Form :	Co., Ltd by Shares

Line of Business :	· Wholesale of Dyes, Pigments and Related Products · Wholesale of Spun Fibers and Yarns

No of Employees :	15

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Status :	Satisfactory

Payment Behaviour :	No complaints

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

Company Name	DH EURO HITECH CO., LTD.
Registered Address	285, Mokdongseo-ro, Yangcheon-gu, Seoul, Korea
Building	Rm. 703, Gold Plaza
Zip Code	158-070
Tel	+82-2-2645-5639
Fax	+82-2-2645-5648
E-mail	pmjchoi@hotmail.com
Website	--

Trading Address	Rm. 703, Gold Plaza, 285, Mokdongseo-ro, Yangcheon-gu, Seoul, Korea (Old Address System : Rm. 703, Gold Plaza, 318-5, Sinjeong-dong, Yangcheon-gu, Seoul, Korea)
Tel	+82-2-2645-5639
Fax	+82-2-2645-5648

Type	Export
Industry	Wholesale of Dyes, Pigments and Related Products
Main Business	Chemicals Dye, Raw Cotton, Yarn, Machine
Sub Business	Wholesale of Spun Fibers and Yarns

Established (mm/dd/yyyy)	07/11/2002

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Fabrics and leather materials(11160000)
Sell	Dyeing machines(23121610)
Sell	Yarns(11151700)

CEO’s

Name	Lee Kang-Kook
Address	Suite 1003-404, 311, Sinjeong-dong, Yangcheon-gu, Seoul, Korea
Date of Birth	10/02/1961
Title	President & CEO
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)	200,000,000
Employees	15
Formation	Co., Ltd by Shares
Bank Details	Woori Bank-Yangcheon-Gu Office Branch
Corporate Registered No.	1101112-566705
Business Registered No.	108-81-56127
Permit & Licenses	Int’l Trade No.: 45047347
Shareholder Position	N/A
Company History	07/11/2002 Incorporated as the present name 07/02/2003 Moved to the present HQ address from 170-28, Singil-dong, Yeongdeungpo-gu, Seoul, Korea 12/23/2005 Increased capital to 200,000,000 KRW from 150,000,000 KRW 12/2008 Awarded US$ 10 Million Export Top Prize

Management

Job Description	Title	Name	Sex	Nationality	Inauguration Date
President & CEO	Mr.	Lee Kang-Kook	Male	Korean	03/31/2011
Director	M/S.	Cho Nam-Jeo	Female	Korean	03/31/2011
Auditor	Mr.	Lee Young-Hwan	Male	Korean	03/31/2014

Financials

Year / Unit : KRW	Sales	Assets	Net Income
2013	28,724,000,000	7,292,267,000	315,400,000
2012	19,091,664,000	6,767,645,000	125,989,000
2011	53,722,618,000	7,994,476,000	660,316,000
2010	28,985,723,000	6,649,094,000	593,151,000
2009	20,612,768,000	4,655,972,000	476,070,000
2008	34,749,552,000	4,735,561,000	517,294,000

Financial Description

Authorized Capital(KRW)	200,000,000
Paid-Up Capital(KRW)	200,000,000
Total Issued Shares	40,000

Balance Sheet

Unit : Korean Won	As of 12/31/2013	As of 12/31/2012	As of 12/31/2011
Total Assets	7,292,267,000	6,767,645,000	7,994,476,000
Current Assets
-Quick Assets
-Inventories
Fixed Assets
-Investment
-Tangibles
-Intangibles
Total Liabilities	3,698,479,000	3,401,978,000	4,754,798,000
Current Liabilities
Fixed Liabilities
Capital Stock	200,000,000	200,000,000	200,000,000
Capital Surplus
Profit Surplus
Capital Adjustment
Total Equity	3,593,788,000	3,365,667,000	3,239,678,000
Liab. & Shareholder’s Equity	7,292,267,000	6,767,645,000	7,994,476,000

Income Statement

Unit : Korean Won	As of 12/31/2013	As of 12/31/2012	As of 12/31/2011
Sales	28,724,000,000	19,091,664,000	53,722,618,000
Cost of Sold Goods
Gross Profit
Selling & Admin. Expenses
Operating Income	422,649,000	315,127,000	814,211,000
Non-Operating Income
Non-Operating Expenses
Income Before Taxes
Income Taxes Expenses
Net Income	315,400,000	125,989,000	660,316,000

Products, Technologies, Services Description

Main Products & Services	Chemicals Dye, Raw Cotton, Yarn, Machine
Detailed Products Spec.
Technologies Acquired

Trade Partners & Competitors

Suppliers

Customers

Competitors

JIN WOONG INDUSTRIAL CO., LTD.

619-1, GANAP -RI, GWANGJEOK-MYEON, YANGJU-SI, GYEONGGI-DO, KOREA

TEL:+82-31-837-6005 FAX:+82-31-837-6006

RHEESOO DYES & CHEMICALS CO., LTD.

6TH FL., YEONGSANG BLDG., 397-17, DAEBANG-DONG, DONGJAK-GU, SEOUL, KOREA

TEL:+82-2-825-8541 FAX:+82-2-824-4294

TAEKWANG DYESYUFFS & CHEMICAL CO., LTD.

4649-1, GANGDONG-DONG, GANGSEO-GU, BUSAN, KOREA

TEL:+82-51-973-4105 FAX:+82-51-973-4108

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

The Subject exports to Bangladesh, Singapore, Uzbekistan and China.

Court Action

Not Available.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.62.65
UK Pound	1	Rs.98.53
Euro	1	Rs.78.15

INFORMATION DETAILS

Analysis Done by :	SUB

Report Prepared by :	ANK

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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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.