MIRA
INFORM REPORT
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Report Date : |
03.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
GRUBIG INTERNATIONAL CO., LTD |
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Registered Office : |
427-5, Jangan 1-dong, Dongdaemun-gu, Seoul 130-844 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
06.02.1986 |
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Com. Reg. No.: |
209-81-06764 |
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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. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Basic
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Company
Name |
GRUBIG
INTERNATIONAL CO., LTD. (Korean Company
Name : “지아이씨상사”) |
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Registered Address |
427-5, Jangan 1-dong, Dongdaemun-gu,
Seoul, Korea |
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Zip Code |
130-844 |
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Tel |
+82-2-499-7541~9 |
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Fax |
+82-2-499-7445 |
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E-mail |
grubig@grubig.co.kr |
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Website |
www.grubig.co.kr |
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Trading Address |
427-5, Jangan 1-dong, Dongdaemun-gu,
Seoul, Korea |
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Tel |
+82-2-499-7541~9 |
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Fax |
+82-2-499-7445 |
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Type |
Export/Import |
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Industry |
Manufacture of Leather Garments |
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Main Business |
Leather Garment |
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Sub Business |
Wholesales of Fishery Products, Auto Parts |
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Established (mm/dd/yyyy) |
02/06/1986 |
The Subject owns
the premises of registered HQ address.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Slacks and trousers and shorts(53101500) |
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Sell |
Coats and jackets(53101800) |
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Sell |
Dresses and skirts and saris and
kimonos(53102000) |
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Sell |
Waistcoats(53103100) |
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Buy |
Pig leather(11162306) |
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Buy |
Sheep leather(11162303) |
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Buy |
Cow leather(11162305) |
CEO’s
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Name |
Hong Ho-Shik |
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Address |
Rm.10-1204, Hyundai Apt., Apgujeong-dong ,Gangnam-gu,
Seoul, Korea |
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Date of Birth |
09/07/1950 |
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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 |
700,000,000 KRW |
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Employees |
22 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Korea Exchange Bank-Shinseol Dong Branch Industrial Bank of Korea-Mia Dong Branch |
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Corporate Registered No. |
110111-0417322 |
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Business Registered No. |
209-81-06764 |
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Permit & Licenses |
Int’l Trade No.: 871019 |
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Shareholder Position |
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Company History |
02/06/1986 Incorporated as the present name 11/30/1988 Awarded US$10 Million Export Top
Prize 12/05/1995 Increased capital to 500,000,000
KRW from 450,000,000 KRW 12/05/1997 Increased the authorized shares to
700,000 shares from 104,000 shares 12/09/1997 Increased capital to 550,000,000
KRW from 500,000,000 KRW 12/23/1998 Issued Convertible Bond amounting 250,000,000 KRW 10/28/1999 Paid all for issued Convertible Bond of 250,000,000 KRW 12/11/1999 Increased capital to 600,000,000
KRW from 550,000,000 KRW 11/29/2000 Increased capital to 700,000,000
KRW from 600,000,000 KRW 08/01/2008 Moved to the present HQ addres
from 186-11, Junggok-dong, Gwangjin-gu, Seoul, Korea |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Hong Ho-Shik |
Male |
Korean |
02/06/1986 |
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Director |
Mr. |
Shin Hee-Jong |
Male |
Korean |
12/01/1997 |
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Director |
M/S. |
Kim Ji-Young |
Female |
Korean |
03/31/2007 |
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Auditor |
Mr. |
Hong Seung-Kook |
Male |
Korean |
03/25/1993 |
Financials
Unit: KRW
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Year |
Sales |
Assets |
Net income |
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9,655,000,000 |
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2006 |
7,014,000,000 |
6,772,000,000 |
(-)588,000,000 |
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2005 |
8,101,000,000 |
6,352,000,000 |
22,000,000 |
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2004 |
8,066,000,000 |
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2003 |
14,000,000,000 |
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The full financials
are not available, and the Subject Company does not have any obligations to
release its financials to the public.
Financial Description
Unit: KRW
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Authorized
Capital |
3,500,000,000 |
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Paid-Up
Capital |
700,000,000 |
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Total Issues Shares |
140,000 |
Balance
Sheet
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Unit : Million Korean Won |
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As of 12/31/2006 |
As of 12/31/2005 |
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Total Assets |
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6,772 |
6,352 |
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Current Assets |
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4,242 |
3,799 |
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-Quick Assets |
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1,575 |
1,250 |
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-Inventories |
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2,667 |
2,549 |
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Fixed Assets |
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2,530 |
2,553 |
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-Investment |
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346 |
342 |
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-Tangibles |
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1,893 |
1,913 |
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-Intangibles |
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292 |
298 |
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Total Liabilities |
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3,287 |
2,279 |
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Current Liabilities |
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2,715 |
1,769 |
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Fixed Liabilities |
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571 |
510 |
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Capital Stock |
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700 |
700 |
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Capital Surplus |
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Profit Surplus |
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2,792 |
3,380 |
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Capital Adjustment |
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(-)7
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(-)7 |
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Total Equity |
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3,485 |
4,073 |
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Liab. & Shareholder’s Equity |
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6,772 |
6,352 |
Income
Statement
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Unit : Million Korean Won |
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As of 12/31/2006 |
As of 12/31/2005 |
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Sales |
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7,014 |
8,101 |
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Cost of Sold Goods |
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6,197 |
6,724 |
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Gross Profit |
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817 |
1,377 |
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Selling & Admin. Expenses |
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1,225 |
1,275 |
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Operating Income |
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(-)408 |
102 |
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Non-Operating Income |
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43 |
51 |
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Non-Operating expenses |
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223 |
131 |
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Ordinary Income |
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(-)588 |
22 |
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Special Income |
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- |
- |
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Income Before Taxes |
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(-)588 |
22 |
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Income Taxes Expenses |
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1 |
- |
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Net Income |
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(-)588 |
22 |
Products, Technologies, Services
Description
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Main
Products & Services |
Leather Garment Brand Name: Grubig |
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Production
Capacity ( Unit: Pcs) |
20,000 Pieces/Month(Qingdao China) |
Trade
Partners
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Customers |
D.K.N.Y(DONNA KARAN NEW YORK)-USA AVIREX-USA RAIN FOREST-USA LAUREN-USA BCBG-USA JONES NY-USA NICOLE MILLER-USA HARLEY-DAVISION-JAPAN PIAA-JAPAN TOMEN-JAPAN NICHIWA-JAPAN DIESEL-ITALY REPLY-ITALY EL CORTE-SPAIN |
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Competitors |
PHILKO INC. 8TH FL., BOSEONG BLDG., 891-25, DAECHI
4-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-501-5285 FAX:+82-2-556-0744 DUCKSAN INTERNATIONAL CO., LTD. 7TH FL., DEOKSAN BLDG., 289-9, SEONGSU 2-GA
3-DONG, SEONGDONG-GU, SEOUL, KOREA TEL:+82-2-465-1564 FAX:+82-2-465-0767 ILLWON KOREA CO., LTD. 83-16, GARAKBON-DONG, SONGPA-GU, SEOUL,
KOREA TEL:+82-2-404-6767 FAX:+82-2-404-6768 |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
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Overseas Office |
QINGDAO FACTORY TEL:+86-532-828-0201 FAX:+86-532-828-0054 |
Sales by
Region (Activity &
Markets)
The Subject exports
to Germany, Italy and USA.
Court
Action
Not Available.
News
Clipping
--
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.90 |
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UK Pound |
1 |
Rs.74.30 |
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Euro |
1 |
Rs.63.42 |
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. |
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%)