MIRA
INFORM REPORT
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Report Date : |
10.07.2007 |
IDENTIFICATION DETAILS
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Name : |
REASON APPAREL CO., LTD. |
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Registered Office : |
2nd Fl., 651-9, Deungchon-dong, Gangseo-gu, |
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Country : |
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Financials (as on) : |
31.12.2003 |
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Date of Incorporation : |
08/14/2000 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Manufacture of Leather Garments |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Basic
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Company
Name |
REASON APPAREL CO., LTD. |
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Registered Address |
651-9, Deungchon-dong,
Gangseo-gu, |
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Building |
2nd Fl. |
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Zip Code |
157-841 |
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Tel |
+82-2-3663-7987 |
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Fax |
+82-2-3661-2243 |
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Trading Address |
2nd Fl., 651-9, Deungchon-dong,
Gangseo-gu, |
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Tel |
+82-2-3663-7987 |
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Fax |
+82-2-3661-2243 |
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Type |
Export |
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Industry |
Manufacture of Leather Garments |
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Main
Business |
Leather Clothing, Fur Clothing |
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Established (mm/dd/yyyy) |
08/14/2000 |
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Clothing(53100000) |
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Sell |
Leather Clothing |
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Sell |
Fur Clothing |
CEO’s
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Name |
Kim Sang-Seong |
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Address |
549-8, Mok-dong, Yangcheon-gu, |
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Date of Birth |
08/02/1957 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital |
150,000,000 KRW |
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Employees |
10 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Hana Bank Industrial Bank of |
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Corporate Registered No. |
110111-2049123 |
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Business Registered No. |
109-81-66142 |
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Permit & Licenses |
N/A |
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Shareholder Position |
N/A |
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Company History |
08/14/2000 Incorporated as the present
name 03/24/2001 Increased capital to
150,000,000 KRW from 50,000,000 KRW 01/16/2006 Moved to the present address
from 271, Yeomchang-dong, Gangseo-gu, |
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The Subject manufactures
the high brands Leather Clothing and Fur Clothing by OEM system, and exports to
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Kim Sang-Seong |
Male |
Korean |
03/27/2003 |
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Director |
Mr. |
Kim Jong-Hee |
Male |
Korean |
03/27/2003 |
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Director |
Mr. |
Lee Man-Deok |
Male |
Korean |
03/27/2003 |
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Director |
Mr. |
Choi Jeong-Ok |
Male |
Korean |
01/16/2006 |
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Auditor |
Mr. |
Kim Kyung-Bong |
Male |
Korean |
03/27/2003 |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
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2003 |
2,490,000,000 |
957,000,000 |
42,000,000 |
The latest financial is not available.
Financial Description
Unit: KRW
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Authorized Capital |
200,000,000 |
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Paid-Up Capital |
150,000,000 |
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Total Issues Shares |
30,000 |
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Balance Sheet |
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Unit : Million Korean Won |
As of 12/31/2005 |
As of 12/31/2004 |
As of 12/31/2003 |
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Total Assets |
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957 |
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Current Assets |
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887 |
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-Quick Assets |
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469 |
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-Inventories |
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418 |
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Fixed Assets |
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70 |
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-Investment |
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34 |
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-Tangibles |
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36 |
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-Intangibles |
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- |
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Total Liabilities |
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704 |
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Current Liabilities |
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704 |
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Fixed Liabilities |
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- |
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Capital Stock |
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150 |
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Capital Surplus |
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- |
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Profit Surplus |
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103 |
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Capital Adjustment |
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- |
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Total Equity |
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253 |
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Liab. & Shareholder’s Equity |
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957 |
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Income Statement |
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Unit : Million Korean Won |
As of 12/31/2005 |
As of 12/31/2004 |
As of 12/31/2003 |
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Sales |
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2,490 |
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Cost of Sold Goods |
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2,296 |
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Gross Profit |
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194 |
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Selling & Admin. Expenses |
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114 |
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Operating Income |
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80 |
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Non-Operating Income |
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17 |
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Non-Operating expenses |
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55 |
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Ordinary Income |
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42 |
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Special Income |
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- |
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Income Before Taxes |
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42 |
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Income Taxes Expenses |
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- |
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Net Income |
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42 |
Products, Technologies,
Services
Description
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Main Products & Services |
Leather Clothing, Fur Clothing |
Sales by Region (Activity
& Markets)
The Subject exports to
Court Action
Not Available.
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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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%)