MIRA
INFORM REPORT
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Report Date : |
29.05.2007 |
IDENTIFICATION DETAILS
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Name : |
JINO TRADING CORPORATION |
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Registered Office : |
1FL., 271-8, Seongsu 2-ga 3-dong, Seongdong-gu, |
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Country : |
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Financials (as on) : |
31.12.2003 |
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Date of Incorporation : |
06/26/1995 |
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Legal Form : |
Company Limited by shares |
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Line of Business : |
Wholesale of Other Agricultural Raw Materials and Live Animals |
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
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Company
Name |
JINO TRADING CORPORATION |
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Registered Address |
1FL., 271-8, Seongsu 2-ga 3-dong,
Seongdong-gu, |
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Zip Code |
133-831 |
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Tel |
+82-2-497-6147 |
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Fax |
+82-2-497-6149 |
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E-mail |
jinotrade@hananet.net |
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Trading Address |
1FL., 271-8, Seongsu 2-ga 3-dong,
Seongdong-gu, |
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Tel |
+82-2-497-6147 |
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Fax |
+82-2-497-6149 |
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Type |
Import |
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Industry |
Wholesale of Other Agricultural Raw Materials and Live Animals |
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Main Business |
Leather |
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Established (mm/dd/yyyy) |
06/26/1995 |
The Subject’s
premises of registered address are owned by M/S. Hong Hyei-Kyung who was a
director of the subject company. And we suspect she is the wife of Mr. Sohn Jin-Ho/CEO.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Leathers(11162300) |
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Sell |
Fabrics and leather materials |
CEO’s
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Name |
Sohn Jin-Ho |
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Address |
6, Jeongja-dong, Bundang-gu, Seongnam-si, |
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Date of Birth |
09/13/1956 |
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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 |
50,000,000 KRW |
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Employees |
9 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Shinhan Bank-Sungsu Dong Branch |
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Corporate Registered No. |
110111-1170812 |
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Business Registered No. |
218-81-16460 |
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Permit & Licenses |
N/A |
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Shareholder Position |
Sohn Jin-Ho : 60.0% Sohn Jin-Byung : 21.0% Sohn Young-Man : 10.0% Others : 9.0% |
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Company History |
1993 Established 06/26/1995 Incorporated as the present
name 01/02/2003 Moved to the present address
from 277-17, Seongsu 2-ga 3-dong, Seongdong-gu, |
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The Subject imports
the leathers and synthetic leathers for shoes from
Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Sohn Jin-Ho |
Male |
Korean |
06/26/1995 |
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Director |
Mr. |
Sohn Young-Man |
Male |
Korean |
06/26/1995 |
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Auditor |
Mr. |
Yang Chul-Jong |
Male |
Korean |
06/26/1995 |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
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3,500,000,000 |
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2003 |
5,423,000,000 |
3,129,000,000 |
194,000,000 |
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2002 |
6,151,000,000 |
2,718,000,000 |
223,000,000 |
The figures of 2006 are from the recruiting
memo.
Financial Description
Unit: KRW
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Authorized Capital |
200,000,000 |
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Paid-Up Capital |
50,000,000 |
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Total Issues Shares |
5,000 |
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Balance Sheet |
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Unit : Million Korean Won |
As of 12/31/2003 |
As of 12/31/2002 |
As of 12/31/2001 |
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Total Assets |
3,129 |
2,718 |
2,543 |
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Current Assets |
2,798 |
2,304 |
2,413 |
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-Quick Assets |
2,717 |
2,135 |
2,195 |
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-Inventories |
81 |
169 |
218 |
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Fixed Assets |
331 |
414 |
130 |
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-Investment |
248 |
275 |
84 |
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-Tangibles |
83 |
139 |
46 |
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-Intangibles |
- |
- |
- |
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Total Liabilities |
1,652 |
1,435 |
1,485 |
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Current Liabilities |
1,624 |
1,407 |
1,454 |
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Fixed Liabilities |
28 |
28 |
31 |
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Capital Stock |
50 |
50 |
50 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
1,427 |
1,233 |
1,008 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
1,477 |
1,283 |
1,058 |
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Liab. & Shareholder’s Equity |
3,129 |
2,718 |
2,543 |
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Income Statement |
|||
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Unit : Million Korean Won |
As of 12/31/2003 |
As of 12/31/2002 |
As of 12/31/2001 |
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Sales |
5,423 |
6,151 |
6,083 |
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Cost of Sold Goods |
4,509 |
5,374 |
5,214 |
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Gross Profit |
914 |
777 |
870 |
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Selling & Admin. Expenses |
615 |
494 |
561 |
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Operating Income |
299 |
283 |
309 |
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Non-Operating Income |
9 |
36 |
102 |
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Non-Operating expenses |
54 |
19 |
42 |
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Ordinary Income |
254 |
300 |
370 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
254 |
300 |
370 |
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Income Taxes Expenses |
60 |
77 |
93 |
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Net Income |
194 |
223 |
277 |
Products,
Technologies, Services
Description
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Main Products & Services |
Animal Leathers and Synthetic Leathers |
Trade Partners
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Customers |
Leather Shoes Manufacturers |
Sales by Region (Activity
& Markets)
The Subject imports the leathers from
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%)