MIRA
INFORM REPORT
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Report Date : |
29th
December, 2006 |
IDENTIFICATION
DETAILS
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Name : |
SOLSANG
INTERNATIONAL CORPORATION |
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Registered Office : |
15-5, Jeong-dong,
Jung-gu, Seoul, Korea |
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Country : |
Korea |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
04.09.2000 |
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Legal Form : |
Company
Limited by Shares |
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Line of Business : |
Wholesale
of Spun Fibers and Yarns |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Basic Information
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Company Name |
Solsang
International Corporation |
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Address |
15-5, Jeong-dong,
Jung-gu, SEOUL, KOREA |
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Building |
Rm.
704, Jeongdong Bldg. |
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Zip Code |
100-784 |
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Tel |
+82-2-318-1137 |
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Fax |
+82-2-318-1170 |
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E-mail |
jsfusion@hotmail.com |
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Type |
Export/Import |
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Industry |
Wholesale
of Spun Fibers and Yarns |
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Main Business |
Polyester
Yarn, Nylon Fiber |
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Established |
09/04/2000 |
Detailed Products
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Activity |
Detailed
Products (UNSPSC) |
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Sell |
Spandex
thread(11151611) |
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Sell |
Synthetic
yarn(11151709) |
Others
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Name |
Park
Jin-Soon |
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Address |
366, Junggye-dong, Nowon-gu, Seoul 139-220 Korea |
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Date of
Birth |
11/25/1960 |
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Title |
Co-President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital |
285,000,000 KRW |
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Employees |
5 |
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Formation |
Co., Ltd by shares |
The subject deals with the companies in China, Taiwan,
India, Japan, Vietnam, and Turkey.
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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Co-President & CEO |
Mr. |
Park
Jin-Soon |
Male |
Korean |
03/31/2003 |
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Co-President & CEO |
Mr. |
Choi
Won-Young |
Male |
Korean |
03/31/2003 |
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Auditor |
M/S |
Park
Kyung-Hee |
Female |
Korean |
03/31/2003 |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
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47,061,000,000 |
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2004 |
17,043,000,000 |
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2003 |
19,900,000,000 |
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2002 |
14,500,000,000 |
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Financial Description
Unit: KRW
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Authorized Capital |
400,000,000 |
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Paid-Up Capital |
285,000,000 |
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Total Issues
Shares |
57,000 |
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Balance
Sheet Unit :
Million Korean Won |
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As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Total Assets |
2,696 |
3,327 |
2,181 |
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Current
Assets |
2,656 |
3,274 |
2,120 |
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-Quick Assets |
1,605 |
2,102 |
1,478 |
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-Inventories |
1,051 |
1,172 |
642 |
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Fixed Assets |
39 |
53 |
61 |
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-Investment |
21 |
31 |
21 |
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-Tangibles |
18 |
22 |
39 |
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-Intangibles |
- |
- |
1 |
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Total
Liabilities |
1,991 |
2,704 |
1,709 |
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Current
Liabilities |
1,963 |
2,675 |
1,709 |
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Fixed
Liabilities |
29 |
29 |
- |
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Capital Stock |
285 |
285 |
285 |
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Capital
Surplus |
- |
- |
1 |
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Profit
Surplus |
418 |
337 |
185 |
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Capital
Adjustment |
1 |
1 |
- |
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Total Equity |
704 |
623 |
471 |
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Liab. &
Shareholder’s Equity |
2,696 |
3,327 |
2,181 |
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Income Statement Unit : Million Korean Won |
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As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Sales |
17,044 |
19,889 |
13,867 |
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Cost of Sold
Goods |
15,395 |
18,229 |
12,617 |
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Gross Profit |
1,649 |
1,660 |
1,250 |
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Selling
& Admin. Expenses |
1,378 |
1,322 |
1,071 |
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Operating
Income |
271 |
338 |
179 |
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Non-Operating
Income |
40 |
45 |
96 |
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Non-Operating
expenses |
203 |
141 |
64 |
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Ordinary
Income |
108 |
242 |
210 |
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Special
Income |
- |
- |
- |
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Income
Before Taxes |
108 |
242 |
210 |
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Income Taxes
Expenses |
27 |
54 |
48 |
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Net Income |
81 |
188 |
162 |
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Bank Details |
Industrial Bank of Korea |
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Corporate
Registered No. |
110111-2063834 |
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Business
Registered No. |
210-81-31244 |
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Company
History |
09/04/2000 Established Jstex Co., Ltd. 10/23/2002 C&J Marketing Co., Ltd. 10/31/2002 Moved to the present address 08/08/2005 Changed company name to the
present name |
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Organization Structure
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Customers |
Leonia-USA |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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