MIRA
INFORM REPORT
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Report Date : |
27.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
HANWHA INTERNATIONAL CORPORATION |
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Registered Office : |
2559 Route 130, Cranbury, NJ 08512-3509 |
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Country : |
United States |
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Date of Incorporation : |
1982 |
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Legal Form : |
Corporation for Profit |
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Line of Business : |
Wholesaler of Chemicals and Allied Products |
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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Maximum Credit Limit : |
USD 2,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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MAXIMUM |
2,000,000 USD |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Federal
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CURRENCY BRANCH SITUATION |
USD Satisfying |
IDENTIFICATION
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Company Name: |
HANWHA
INTERNATIONAL CORPORATION Dba Hanwha International Corp. |
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Address: |
2559 Route 130, Cranbury, NJ
08512-3509, United
States |
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Phone: Facsimile: ID: State: Managers: |
+ 1 (609) 655-2500 + 1 (609) 655-0711 0100249064 New Jersey Youn Tae Kim, President |
Date founded: |
1982 Corporation for Profit N.A. 30 employees |
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Legal form: |
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Stock: |
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Staff: |
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Business: |
Wholesaler of chemicals
and allied products |
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BANKS
Citibank
BUSINESS
Business & Operations:
In 1952, the Hanwha Group was founded under the name, Korea Explosives
Corporation. The founding chairman, Kim Jong-hee, had built the explosives company
from the ruins of the Korean War.
As Korea's only private powder plant, Korea Explosives Co. showed
remarkable growth to become one of Asia's leading explosives suppliers within
ten years.
Successful structural reform enabled Hanwha Group to make big strides
toward becoming a company with substantiality. Since the completion of
restructuring work, at the end of 1999, Hanwha has begun concentrating its
business calibers in telecommunications, the Internet and new biomaterials,
with the investment principle of selection and concentration.
This endeavor was based on the structural reorganization strategy, which
aims at developing the telecommunications, Internet and bio business areas to
satisfy new demands and keep pace with a new era through diversification of
business.
In this new decade, Hanwha plans to realize equilibrium business cycles,
by developing futuristic business areas of telecommunication and the Internet,
as well as its growth framework for the chemical, distribution, leisure and
finance industries.
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The directors of the company are:
Youn Tae Kim, President,
Howard Kwon, Treasurer,
Joony B Lim, secretary.
They are also three of the main shareholders.
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
Hanwha International Llc. does not publish any financial
statement.
However
our financial sources could provide us with the following information:
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Fiscal Year In USD |
12/31/2007 |
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Turnover |
197,300,000 |
There is no legal filling listed with the District Court.
There is no active UCC file listed with the Secretary of State of
New Jersey.
RATING
Local credit bureau gave a correct credit rate.
The Company is in “good standing”.
This means that all local and federal taxes were paid on due date.
Payments are made on a
regular basis (monitored during the past 12 months).
The cash is correct.
Our final opinion:
This is a small company
working worldwide.
A credit line may be
considered.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Correct Controlled Correct |
PUBLIC PAYMENTS |
None Regular |
ADVISED
CREDIT
2,000,000 USD
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.79 |
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UK Pound |
1 |
Rs.85.04 |
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Euro |
1 |
Rs.67.39 |
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%)