MIRA INFORM REPORT

 

 

Report Date :

13.06.2007

 

IDENTIFICATION DETAILS

 

Name :

HAN SEUNG FASHION CO., LTD.

 

 

Registered Office :

A-701, Geumoh Sangga, 765-1, Singok-dong, Uijeongbu-si, Gyeonggi-do - 480-070

 

 

Country :

Korea

 

 

Date of Incorporation :

01/20/2005

 

 

Legal Form :

Company Limited by shares

 

 

Line of Business :

Wholesales of Fabrics and Leather Materials

 

 

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

HAN SEUNG FASHION CO., LTD.

Registered Address

A-701, Geumoh Sangga, 765-1, Singok-dong, Uijeongbu-si, Gyeonggi-do, Korea

Zip Code

480-070

Tel

+82-31-853-9970~2

Fax

+82-31-853-9973

Trading Address

A-701, Geumoh Sangga, 765-1, Singok-dong, Uijeongbu-si, Gyeonggi-do, Korea

Tel

+82-31-853-9970~2

Fax

+82-31-853-9973

Type

Import/Export

Industry

Wholesales of Fabrics and Leather Materials

Established (mm/dd/yyyy)

01/20/2005

 

The Subject occupies the premises of registered address by leasing base.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Organic Cotton Fabrics for Innerwear

Sell

Inner Wear

Sell

T-Shirts

 

 

CEO’s

 

Name

Kwon Joo-An

Address

360-15, Junggye-dong, Nowon-gu, Seoul, Korea

Date of Birth

12/26/1968

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital

150,000,000 KRW

Employees

8

Formation

Co., Ltd by shares

Bank Details

Industrial Bank of Korea

Corporate Registered No.

110111-3155458

Business Registered No.

204-81-***** (Full number is not available.)

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

08/2000 Established as DAE HYUN FABRICS CO.

01/20/2005 Incorporated as DAE HYUN PEFF CO., LTD.

02/23/2007 Changed company name to the present name

02/27/2007 Moved to the present address from Rm.401, Yonghhyun B/D., 415-7, Jangan 1(il)-dong, Dongdaemun-gu, Seoul, Korea

 

 

The Subject Company imports the raw materials and fabrics from China and India, and manufactures the fabrics for innerwear clothes in India and China, and exports to Japan & USA. Especially the subject started the manufacture in India since in the end of 2005.

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Day

President & CEO

Mr.

Kwon Joo-An

Male

Korean

01/20/2005

Director

Mr.

Lee Kyung-Sun

Male

Korean

01/20/2005

Director

Mr.

Kwon Il-Min

Male

Korean

01/20/2005

Director

Mr.

Song Kyung-Sik

Male

Korean

01/20/2005

Auditor

Mr.

Seo Hyung-Rae

Male

Korean

01/20/2005

 

 

Financials                                               

 

The financial is not available.

 

 

Financial Description    

 

Unit: KRW

Authorized Capital

400,000,000

Paid-Up Capital

150,000,000

Total Issues Shares

30,000

 

 

Products, Technologies, Services

Description

 

Main Products & Services

Innerwear and T-Shirts

 

 

Trade Partners

 

Customers

The Subject wholesales innerwear to the domestic market and exports to Japan & USA.

 

 

Sales by Region (Activity & Markets)

 

The Subject imports from China & India, and exports to USA and Japan.

 

 

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