MIRA INFORM REPORT

 

 

Report Date :

20.04.2007

 

IDENTIFICATION DETAILS

 

Name :

ILSHIN STEEL INTERNATIONAL CO.

 

 

Registered Office :

# 102-104, Kunyoung APT., 591-2, Ichung-dong, Pyeongtaek-si, Gyeonggi-do – 459-731

 

 

Country :

Korea

 

 

Financials (as on) :

31.12.2004

 

 

Date of Incorporation :

07/01/1998

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesale of Metal Plates, Bars, Pipes, and Basic Metals

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Basic

 

Company Name

ILSHIN STEEL INTERNATIONAL CO.

Registered Address

591-2, Ichung-dong, Pyeongtaek-si, Gyeonggi-do, Korea

Building

#102-104, Kunyoung APT.,

Zip Code

459-731

Tel

+82-31-666-8789

Fax

+82-31-668-8784

E-mail

mhcho@ilshinsteel.co.kr; overseas@ilshinsteel.co.kr

Website

www.ilshinsteel.co.kr

Trading Address

#102-104, Kunyoung APT., 591-2, Ichung-dong, Pyeongtaek-si, Gyeonggi-do, Korea

Tel

+82-31-666-8789

Fax

+82-31-668-8784

Type

Export

Industry

Wholesale of Metal Plates, Bars, Pipes, and Basic Metals

  Main Business

Stainless Steel Sheet, Stainless Steel Coil

Established (mm/dd/yyyy)

07/01/1998

 

Mr. Cho Moon-Hyun owns the premises of registered address, and its area is the residential apartment area.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Stainless Steel Sheet

Sell

Stainless Steel Coil

Sell

Basic Metals

 

 

CEO’s

 

Name

Cho Moon-Hyun

Address

#102-104, Kunyoung APT., 591-2, Ichung-dong, Pyeongtaek-si, Gyeonggi-do, Korea

Date of Birth

12/08/1959

Title

Owner

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital

Not Applicable to the Sole Proprietorship

Employees

1

Formation

Sole Proprietorship

Bank Details

Kookmin Bank-Songtan Branch

Corporate Registered No.

Not Applicable to the Sole Proprietorship

Business Registered No.

125-07-72398

Permit & Licenses

N/A

Shareholder Position

The owner has 100% shares.

Company History

07/01/1998 Established

1125/2004 Awarded the export top prize

 

Since 1998, The Subject Company is one of the Korean trading companies, which is specialized in stainless steel products, as an exporter, importer and distributor of stainless steel flat, long and profile products. Its main business field is to export all of the stainless steel products produced by Korean mills for overseas market.

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Day

Owner

Mr.

Cho Moon-Hyun

Male

Korean

07/01/1998

 

 

Financials

           

                                                                                                                            Unit: KRW

Year

Sales

Assets

Net income

2005

 

 

 

2004

3,489,000,000

319,000,000

58,000,000

2003

4,727,000,000

900,000,000

57,000,000

2002

2,135,000,000

329,000,000

64,000,000

 

The latest financial is not available.

 

 

Financial Description      

 

Balance Sheet

Unit : Million Korean Won

As of 12/31/2004

As of 12/31/2003

As of 12/31/2002

Total Assets

319

900

329

Current Assets

311

891

323

-Quick Assets

311

891

323

-Inventories

-

-

-

Fixed Assets

8

9

7

-Investment

8

9

6

-Tangibles

-

-

-

-Intangibles

-

-

-

Total Liabilities

110

749

235

Current Liabilities

110

749

235

Fixed Liabilities

-

-

-

Capital Stock

210

152

94

Capital Surplus

-

-

-

Profit Surplus

-

-

-

Capital Adjustment

-

-

-

Total Equity

210

152

94

Liab. & Shareholder’s Equity

319

900

329

 

Income Statement

Unit : Million Korean Won

As of 12/31/2004

As of 12/31/2003

As of 12/31/2002

Sales

3,489

4,727

2,135

Cost of Sold Goods

3,056

4,438

1,867

Gross Profit

433

289

268

Selling & Admin. Expenses

389

304

217

Operating Income

45

  -15

51

Non-Operating Income

38

106

27

Non-Operating expenses

25

34

15

Ordinary Income

58

57

64

Special Income

-

-

-

Income Before Taxes

58

57

64

Income Taxes Expenses

-

-

-

Net Income

58

57

64

 

 

Products, Technologies, Services

Description

 

Main Products & Services

Cold Rolled Stainless Steel Strip in Coils

Cold Rolled Stainless Steel Sheets & in Coils, BA Finished

Cold Rolled Stainless Steel Sheets & in Coils, 2B Finished

Stainless Steel Premium Finishes in Sheets

Stainless Steel ERW Tubes for Automotive Exhaust Systems

Stainless Steel Seamless Pipes & Tubes

Hot Rolled Stainless Wire Rods

Hot Rolled Stainless Steel Round Bars

Cold Drawn Round Bars

Hot Rolled Annealed & Pickled Stainless Steel Equal Angle Bars

Hot Rolled Annealed & Pickled Stainless Steel Equal Flat Bars

Stainless Steel Silted Flat Bars from HRC

Tool Steel Round Bars

Tool Steel Wide Flat Bars

 

 

 

Sales by Region (Activity & Markets)

 

The Subject exports to Australia, Brazil and India.

 

 

Court Action

 

Not Available.

 

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

 

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

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