MIRA INFORM REPORT

Report Date :

29.07.2014

IDENTIFICATION DETAILS

Name :	LOTTE CHEMICAL CORPORATION

Formerly Known As :	HONAM PETROCHEMICAL CORPORATION

Registered Office :	51, Boramae-ro 5-gil, Dongjak-gu, Seoul, Korea 11th Fl., Lotte Gwanak Tower 156-711

Country :	South Korea

Financials (as on) :	31.03.2014

Date of Incorporation :	16.03.1976

Com. Reg. No.:	188-11-5012

Legal Form :	Listed Company

Line of Business :	Manufacture of Basic Organic Petrochemicals

No. of Employees	2,556

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 – June 1, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

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

Basic

Company Name	LOTTE CHEMICAL CORPORATION (Ex. Company Name : HONAM PETROCHEMICAL CORPORATION, “호남석유화학(주”)) (Korean Company Name : “롯데케미칼(주)”)
Registered Address	51, Boramae-ro 5-gil, Dongjak-gu, Seoul, Korea
Building	11th Fl., Lotte Gwanak Tower
Zip Code	156-711
Tel	+82-2-829-4114
Fax	+82-2-843-1010
E-mail	Kilee@hpc.co.kr;bonsoo@hpc.co.kr;tora@hpc.co.kr; jiman@lottelpc.com;skchung@lottelpc.com
Website	www.hpc.co.kr
Trading Address	11th Fl., Lotte Gwanak Tower, 51, Boramae-ro 5-gil, Dongjak-gu, Seoul, Korea (Old Address System : 11th Fl., Lotte Gwanak Tower, 395-67, Sindaebang 2-dong, Dongjak-gu, Seoul, Korea)
Tel	+82-2-829-4114
Fax	+82-2-843-1010
Other Address-Yeosu Factory	172, Jungheung-dong, Yeosu-si, Jeollanam-do, Korea
Tel	+82-61-688-2114
Fax	+82-61-688-2460
Other Address-Yeosu II Factory	1-2, Wolha-dong, Yeosu-si, Jeollanam-do, Korea
Tel	+82-61-688-2114
Fax
Other Address-Daesan Factory	634, Dokgot-ri, Daesan-eup, Seosan-si, Chungcheongnam-do, Korea
Tel	+82-41-689-5114
Fax	+82-41-689-5118
Other Address-Research Lab.	24-1, Jang-dong, Yuseong-gu, Daejeon, Korea
Tel	+82-42-861-6161
Fax
Other Address-Daejeon Branch	32, Hongdo-dong, Dong-gu, Daejeon, Korea
Tel	+82-42-635-2961
Fax
Other Address-Busan Office	394-8, Samnak-dong, Sasang-gu, Busan, Korea
Tel	+82-51-301-5846
Fax	+82-51-301-5880
Other Address-Daegu Branch	3rd Fl., National Pension Corporation Daegu Bldg., 1198-5, Igok 2-dong, Dalseo-gu, Daegu, Korea
Tel	+82-53-593-7104
Fax	+82-53-593-7108
Other Address-Gwangju Office	Rm. 501, Dongsin Bldg., 150, Unam 2-dong, Buk-gu, Gwangju, Korea
Tel	+82-62-524-7870
Fax
Type	Export/Import
Industry	Manufacture of Basic Organic Petrochemicals
Main Business	High Density Polyethylene(HDPE), Polypropylene(PP), Polyethylene Terephthalate(PET), Ethylene Glycol, Methyl Methacrylate(MMA), Styrene Monomer, Mono Ethylene Glycol, Butadiene,BTX Product, Benzene, Toluene, Xylene, PE, PP, Compounded Polymer
Sub Business
Established (mm/dd/yyyy)	03/16/1976

The Subject owns the premises of Yeosu Factory(1,190,377㎡).

Detailed Products

Activity	Detailed Products (UNSPSC)
Sell	Polyethylene Terepthalate PET(13102020)
Sell	Polypropylene resin(13111019)
Sell	Resins(13111000)
Sell	Chemistry reagents or solutions(41116105)
Sell	High Density Polyethylene HDPE(13102017)
Sell	Organic derivatives and substituted compounds(12352100)
Sell	Tea bags(50201713)
Sell	Laminated papers(14121700)
Sell	Inorganic compounds(12352300)
Sell	Alcohols or its substitutes(12352104)

CEO’s

Name	Shin Dong-Bin
Address
Date of Birth	02/14/1995
Title	Chairman & CEO
Sex	Male
Nationality	Korean

Profiles

Capital (KRW)

171,377,095,000

Employees

2,556

Formation

Listed Company (Korea Stock Exchange : 011170 ) as of 05/30/1991

Foreign Direct Investment Corporation

A Company of LOTTE GROUP

Bank Details

Nonghyup Bank

Woori Bank-Boramae Branch

Corporate Registered No.

110111-0193196

Business Registered No.

188-11-5012

Permit & Licenses

08/01/1995 ISO 9001

12/1995 ISO 14001

Int’l Trade No.: 789015

Shareholder Position

Name	Shares	%
LOTTE MOOLSAN CO., LTD. (110111-0320707)	10,718,818	31.27
HOTEL LOTTE CO., LTD.(110111-0145410)	4,346,818	12.68
LOTTE HOLDINGS CO.,LTD.(JAPAN)	3,186,000	9.30
NATIONAL PENSION SERVICE(110171-0007134)	2,442,727	7.13
OTHERS	13,581,056	39.62
TOTAL	34,275,419	100.00

Company History

03/16/1976 Incorporated as the present name

04/1976 Imported technologies from Mitsui Petrochemical, Mitsui Toatsu Chemical and UK Shell Development

03/1979 Construction of PP, PE, EOG and UC plants

06/1979 Privatization of domestic shares (Lotte)

12/1979 Commercial production of HDPE, PP, and EOG

09/1984 Construction of Compound Resin Factory (Gradual expansion)

06/1986 Launche of research institute

04/1988 Construction of the 2nd HDPE plant

11/1988 Construction of the 2nd PP plant

01/1991 Moved labs to Daeduk R&D complex

05/1991 Construction of the 2nd EOG plant

04/1992 Launched operation of Naphtha Cracking Center and BTX plant

08/1995 Attained ISO 9001 (Quality system) certificate

11/1996 Attained ISO 14001 (Environmental system) model certificate

01/1997 Designated as KOLAS nationally authorized laboratory and attained UN MARK from Korean Register of Shipping

06/1997 Expansion of the 3rd EOG plant

05/1998 Launched operation of PET plant

06/1999 Expansion of the 3rd HDPE plant

02/2000 Launched operation of EOA plant

06/2001 Launched operation of MMA plant

11/2001 Completed revamping of Naphtha Cracking Center and BTX plant, expansion of the 3rd PP plant

05/2003 Completed steam supply and power plant, 3AS plant, Formed LG Chemical & HPC Consortium

06/2003 Acquired Hyundai Petrochemical 2nd Complex

01/2004 Implemented ERP

11/2004 Acquired KP Chemical

12/2005 Honam petrochemical corp. entered into a contract on introducing polycarbonate manufacturing technologies with Asahi-Kasei, Japan.

01/2006 Honam petrochemical corp. entered into a MOU on establishing MMA,PMMA joint venture with Mitsubishi Rayon, Japan.

01/2006 Acquired Jiaxing Honam Engineering Plastic Co,Ltd

06/2008 PC Plant Will be Completed.

01/05/2009 Acquired LOTTE DAESAN PETROCHEMICAL CORPORATION (161411-0014684)

12/27/2012 Merged with KP CHEMICAL CORP(230111-0082112)

12/27/2012 Changed company name to the present name

Detailed Information

Management

Job Description	Title	Name	Nationality	Date of Birth	Education
Chairman & CEO	Mr.	Shin Dong-Bin	Korean	1955.02.14	MBA, Columbia University, Director of LOTTE CO., LTD.(Japan)
President & CEO	Mr.	Hur Soo-Young	Korean	1951.06.07	Seoul National University, President of LOTTE DAESAN PETROCHEMICAL CORPORATION(161411-0014684)
Sr. Executive Director	Mr.	Ahn Ju-Seok	Korean	1955.03	-
Outside Director & Auditor	Mr.	Seo Hyun-Soo	Korean	1950.02	-
Outside Director & Auditor	Mr.	Jung Dong-Ki	Korean	1953.08	-
Outside Director	Mr.	Park Seok-Hwan	Korean	1955.10	-
Outside Director & Auditor	Mr.	Lim Ji-Taik	Korean	1953.12	-

Financials

Year / Unit : KRW	Sales	Assets	Net Income
(*)03/2014	2,948,073,530,286	9,875,721,950,209	64,277,343,285
(*)2013	12,273,440,415,644	9,835,072,163,803	338,810,946,026
(*)2012	9,095,887,163,330	9,500,149,213,114	343,035,975,098
(*)2011	8,463,484,252,787	8,279,107,535,291	748,633,827,649
(*)2010	7,189,058,848,259	6,894,490,327,752	686,875,043,330
2009	5,969,758,436,345	5,677,438,913,166	796,701,068,020
2008	3,098,210,282,676	3,550,957,330,652	-45,284,006,833
2007	2,255,268,363,372	3,587,375,456,169	463,359,940,843
2006	2,181,315,418,229	2,997,624,545,038	381,592,272,590
2005	2,112,793,648,507	2,791,475,554,945	511,431,593,224
2004	1,952,094,050,240	2,318,300,810,683	535,258,456,479
2003	1,460,335,438,818	1,690,406,350,363	210,663,325,711

(*)Figures are based on the K-IFRS Accounting System.

Financial Description

Authorized Capital(KRW)	500,000,000,000
Paid-Up Capital(KRW)	171,377,095,000
Total Issued Shares	34,275,419

Balance Sheet
Unit : Korean Won	01/01/2014~03/31/2014	As of 12/31/2013	As of 12/31/2012
Total Assets	9,875,721,950,209	9,835,072,163,803	9,500,149,213,114
Current Assets	3,548,849,999,675	3,441,165,595,306	3,027,509,417,540
Cash & Cash Equivalents	862,494,519,762	870,246,197,877	648,543,812,324
Current Financial Instruments	166,672,967,692	301,493,041,351	186,621,846,423
Marketable Financial Instruments	323,710,000	312,590,000	232,110,000
Trade Receivables & Other Receivables	1,280,663,014,497	1,235,340,760,572	1,269,700,088,168
Inventories	1,167,130,221,379	1,016,480,402,694	891,908,409,125
Finance Lease Receivables	297,322,429	297,322,429	192,361,845
Income Taxes			4,477,090,730
Current Financial Instruments	4,228,331,297	4,018,373,864	13,685,885,568
Current Non-Financial Instruments	67,039,912,619	12,976,906,519	12,147,813,357
Non-Current Assets	6,326,871,950,534	6,393,906,568,497	6,472,639,795,574
Non-Current Financial Instruments	50,513,500,000	50,513,500,000	43,521,000,000
Marketable Financial Instruments	105,534,600,642	105,018,039,642	113,247,071,993
Finance Lease Receivables	5,159,428,576	5,208,404,997	5,505,727,434
Investment_Subsidiaries	3,330,512,490,005	3,330,512,490,005	3,211,592,411,193
Tangibles	2,722,978,484,702	2,789,495,182,151	2,983,464,411,051
Investment_Real Estates	84,883,045,622	85,219,492,337	47,813,561,314
Intangibles	13,073,676,711	13,156,788,168	15,100,945,096
Non-Current Financial Instruments	10,834,884,276	10,917,711,197	46,597,227,493
Non-Current Non-Financial Instruments	3,381,840,000	3,864,960,000	5,797,440,000
Total Liabilities	3,409,530,110,457	3,400,150,291,861	3,375,791,118,758
Current Liabilities	2,061,492,840,344	2,066,343,586,459	1,870,380,289,266
Trade Payables & Other Payables	807,191,324,147	940,348,652,071	1,371,753,813,348
Short-Term Borrowings	1,077,492,326,148	1,024,001,661,498	375,482,119,968
Accrued Income Tax	66,635,413,373	57,752,038,620	51,803,765,816
Other Current Financial Debts	48,172,315,947	13,409,128,063	34,501,962,549
Other Current Non-Financial Debts	62,001,460,729	30,832,106,207	36,838,627,585
Non-Current Liabilities	1,348,037,270,113	1,333,806,705,402	1,505,410,829,492
Long-Term Borrowings	1,053,027,554,805	1,048,390,639,721	1,209,609,902,911
Confirmed Salaries	19,493,285,904	15,284,509,975	22,575,050,475
Deferred Income Tax Credit	192,401,872,710	178,797,875,247	184,006,012,755
Other Non-Current Financial Debts	79,573,968,692	87,900,485,122	84,190,341,558
Other Non-Current Non-Financial Debts	3,540,588,002	3,433,195,337	5,029,521,793
Capital Stock	171,377,095,000	171,377,095,000	171,377,095,000
Capital Surplus	771,055,831,115	771,055,831,115	763,267,158,942
Profit Surplus	5,523,949,896,208	5,493,496,632,733	5,185,502,759,088
Others	-190,982,571	-1,007,686,906	4,211,081,326
Total Equity	6,466,191,839,752	6,434,921,871,942	6,124,358,094,356
Liab. & Shareholder’s Equity	9,875,721,950,209	9,835,072,163,803	9,500,149,213,114

Income Statement
Unit : Korean Won	01/01/2014~03/31/2014	As of 12/31/2013	As of 12/31/2012
Sales	2,948,073,530,286	12,273,440,415,644	9,095,887,163,330
Cost of Sold Goods	2,791,809,461,511	11,459,615,658,202	8,454,954,182,119
Gross Profit	156,264,068,775	813,824,757,442	640,932,981,211
Selling & Admin. Expenses	83,365,352,141	310,614,721,346	241,923,871,719
Operating Income	72,898,716,634	503,210,036,096	399,009,109,492
Finance Income	21,440,086,104	80,918,655,721	71,139,202,586
Finance Expenses	33,657,799,851	120,368,714,734	102,394,585,401
Other Non-Operating Income	27,034,838,387	-35,874,793,706	66,731,970,129
Income Before Taxes	87,715,841,274	427,885,183,377	434,485,696,806
Income Taxes Expenses	23,438,497,989	89,074,237,351	91,449,721,708
Net Income	64,277,343,285	338,810,946,026	343,035,975,098

Cash Flows
Unit : Korean Won	01/01/2014~03/31/2014	As of 12/31/2013	As of 12/31/2012
Cash Flows from Operating	-157,376,929,517	249,383,805,306	105,718,340,705
Net Income	64,277,343,285	338,810,946,026	343,035,975,098
Adjustment	-220,484,563,076	-6,277,897,801	-46,728,112,480
Income Taxes	-1,169,709,726	-83,149,242,919	-190,589,521,913
Cash Flows from Investing	112,200,219,939	-405,671,790,420	18,019,794,166
Cash Flows from Financing	37,155,657,803	380,890,936,578	68,426,092,844
Increase/Decrease in Cash	-8,021,051,775	224,602,951,464	192,164,227,715
Cash at the Beginning of Year	870,246,197,877	648,543,812,324	457,001,236,829
Cash at the End of Year	862,494,519,762	870,246,197,877	648,543,812,324

Products, Technologies, Services Description

Main Products & Services

PE: Polyethylene

-High Density Polyethylene(HDPE)

-Low Density Polyethylene(LDPE)

-Linear Low Density Polyethylene(LLDPE)

-Ethylene Vinyl Acetate Copolymer(EVA)

PP: Polypropylene

PET: Polyethylene Terephthalate

BTX(Aromatic Compounds)

-Benzene

-Toluene

-Xylene

Ethylene Oxide /Ethylene Glycol(EO/EG)

-HPEO(High PressureEthylene Oxide)

-MEG(Mono Ethylene Glycol)

-DEG(Di Ethylene Glycol)

-TEG(Tri Ethylene Glycol)

MMA(Methyl Methacrylate)

Detailed Products Spec.

Technologies Acquired

Trade Partners & Competitors

Suppliers

GS-CALTEX CORPORATION(110111-0078819)

ADNOC

Customers

KP CHEMICAL CORP.(230111-0082112)

LOTTE DAESAN PETROCHEMICAL CORPORATION(161411-0014684)

Competitors

KOREA PETRO CHEMICAL IND CO., LTD.(110111-0024698)

SAMSUNG TOTAL PETROCHEMICALS CO., LTD.(161411-0013066)

LG CHEM LTD.(110111-2207995)

Related Parties (Subsidiaries, Joint-Venture & Affiliates)

Affiliates-Domestic	LOTTE SAMKANG CO., LTD(110111-0033722) LOTTE CHILSUNG BEVERAGE CO., LTD(110111-0003684) LOTTE CONFECTIONERY CO., LTD.(110111-0076300) LOTTE DATA COMMUNICATION CO., LTD.(110111-1358343) LOTTE MIDOPA CO., LTD(110111-0045983) LOTTE NON-LIFE INSURANCE CO., LTD.(110111-0014459) LOTTE HAM CO., LTD.(110111-0229371) LOTTERIA CO., LTD.(110111-0262850) LOTTE FRESH DELICA CO., LTD.(134511-0034295) LOTTE BOULANGERIE CO., LTD(135511-0109807) LOTTE PHARM CO., LTD.(110111-0657788) FOOD STAR, INC.(110111-1739155) CINEMA TRADING CO., LTD(110111-3180918) WELLGA INC.(184511-0000379) SANJUNG BEVERAGE CO., LTD.(111511-0013288) CHANG DAE TRADING CO., LTD.(110111-0904907) HOTEL LOTTE CO., LTD.(110111-0145410) LOTTE GIANTS BASEBALL CLUB(110111-0317556) HOTEL LOTTE PUSAN CO., LTD(180111-0053461) LOTTE MOOLSAN CO., LTD.(110111-0320707) LOTTE JTB CO., LTD(110111-3685710) THE CINEMA OF KOREA(110111-3837501) LOTTE CITY HOTEL CO., LTD(110111-3946518) LOTTE TRADING CO., LTD(110111-0159099) LOTTE LOGISTICS CORP.(110111-0040446) KOREA SEVEN CO., LTD.(110111-0899976) LOTTE.COM INC(110111-1843972) LOTTE ASAHI LIQUOR COMPANY LTD.(110111-0530033) WOORI HOME SHOPPING(110111-2248957) KP CHEMTECH(230111-0100443) DAESAN MMA CORPORATION(161411-0016995) KOREA FUJIFILM CO., LTD(110111-0042715) HOWTECH CORPORATION(110111-2110114) LOTTE ALUMINUM CO., LTD.(110111-0003121) LOTTE ENGINEERING & MACHINERY MFG. CO., LTD.(110111-0154560) LOTTE ASSET DEVELOPMENT CO., LTD(110111-2394263) DAEHONG COMMUNICATIONS INC.(110111-0249981) FRL KOREA CO., LTD.(110111-3133298) LOTTE CAPITAL CO., LTD.(110111-1217416) LOTTE CARD CO., LTD.(110111-0641434) CHEONGNA ENERGY CO., LTD.(110111-3256818) LOTTE MILK CO., LTD.(110111-3650838) LOTTE STATION BUILDING CO., LTD.(110111-0505903) LOTTE SHOPPING CO., LTD.(110111-0000086) CANON KOREA BUSINESS SOLUTIONS INC.(130111-0007666) LOTTE ENGINEERING & CONSTRUCTION CO., LTD(110111-0014764) SEETECH CO., LTD.
Affiliates-Overseas	LOTTE CHINA FOODS CO., LTD. ZAO LOTTE RUS, LOTTE INDIA CO., LTD. LOTTE TRADING NEW YORK CORPORATION LOTTE QINGDAO FOODS CO., LTD. HAEMUNGYO SEONGANRYUN CO., LTD. LOTTE PHILIPPINES CO., LTD. VIETNAM LOTTERIA CO., LTD. LOTTE VIETNAM CO., LTD. KP CHEMICAL (H.K.)LIMITED LOTTE TAIWAN CO., LTD. LOTTE SHOPPING RUS LTD. LOTTEAODELI BEVERAGE CO.LTD. LOTTE CONSTRUCTION CO., LTD. ZAO L&S, HOSEOK CHEMICAL TRADE CO., LTD. LOTTE SHANGHAI FOODS. CO., LTD. GAHEUNG HOSEOK GONGJEONG SORYO CO., LTD. LOTTE FOOD HOLDING CO.,LIMITED LOTTE PACKAGE CO., LTD. LOTTE INVESTMENT CO., LTD. HONAM OVERSEAS HOLDINGS LIMITED LOTTE CONFECTIONERY RUS LLC, LH FOODS CO., LIMITED SOGLASIE-LOTTE HOTEL DUTY FREE LTD. OPERATOR-LOTTE-DUTY FREE LTD. UNITED NCRI-LOTTE CONSTRUCTION CORPORATION LOTTE ENGINEERING AND CONSTRUCTION INDIA PVT. LTD. LOTTE HUABANG CO., LTD. LOTTE QINGDAO FOODS CO., LTD. WEIFANG YASING GROUP CO., LTD.
Overseas Office
Liaison Office
Overseas Branch
Joint Venture	DAESAN MMA CORPORATION (50.0% held by the subject Company) SEETECH CO., LTD. (50.0% held by the subject Company)
Subsidiary	HONAM OVERSEAS HOLDINGS LIMITED(HONG KONG) (100.0% held by the subject Company) GAHEUNG HOSEOK PETROCHEMICAL CO., LTD.-CHINA (100.0% held by the subject Company) HONAM PETROCHEMICAL TRAING(SHANGHAI) CO.,LTD.-CHINA (40.0% held by the subject Company) KP CHEMICAL CORP(230111-0082112) KP CHEMTECH CO., LTD.(230111-0100443) SAMBARK LFT CO., LTD.(161511-0034466) DACC Aerospace Co., LTD.(210111-0061897) HOWTECH CORPORATION(110111-2110114) SAMBARK CO., LTD.(161511-0043665) TITAN CHEMICALS CORP.BHD. HONAM OVERSEAS HOLDINGS LIMITED LOTTE PAKISTAN PTA LIMITED LOTTE CHEMICAL UK LIMITED HPM ALABAMA CORP. HEFEI HONAM ENGINEERING PLASTICS CO., LTD.
Corporate Ownership
Major Shareholders
Cooperative Enterprise	-Insured Company LIG INSURANCE CO., LTD(110111-0017859) -Technical Support SAMJUNG PETROCHEMCIAL CO., LTD(JAPAN) UNION CARBIDE CORPORATION -Sales Agent Agreement KP CHEMICAL CORP.(230111-0082112)

Sales by Region (Activity & Markets)

The Subject deals with the companies in China, Indonesia and Japan.

Court Action

There are 7 cases filed as Defendant(s)/ Debtor(s)/ Respondent(s) amounting 2,755,000,000 KRW.

News Clipping

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.60.10
UK Pound	1	Rs.102.04
Euro	1	Rs.80.74

INFORMATION DETAILS

Analysis Done by :	SUM

Report Prepared by :	NIS

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.