MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
MODERN ELEVATOR CO., LTD. |
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Registered Office : |
358-179, Galsan-dong, Dalseo-gu, Daegu 704-900 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2004 |
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Date of Incorporation : |
12.06.1998 |
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Com. Reg. No.: |
503-81-37835 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Manufacture of Elevators and Conveyor Systems |
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 : |
No Complaints |
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Litigation : |
Clear |
Basic
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Company
Name |
MODERN ELEVATOR CO., LTD. |
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Registered Address/Factory |
358-179, Galsan-dong, Dalseo-gu, Daegu,
Korea |
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Zip Code |
704-900 |
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Tel |
+82-53-583-0811 |
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Fax |
+82-53-584-4730 |
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E-mail |
md@mdel.co.kr |
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Website |
www.mdel.co.kr |
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Trading Address |
358-179, Galsan-dong, Dalseo-gu, Daegu,
Korea |
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Tel |
+82-53-583-0811 |
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Fax |
+82-53-584-4730 |
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Type |
Export |
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Industry |
Manufacture of Elevators and Conveyor systems |
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Main Business |
Elevators, Dumb Waiter |
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Established (mm/dd/yyyy) |
06/12/1998 |
Mr. Kim Ho-Ill owns
the premises of registered HQ address/Factory.
Detailed Products
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Lifting equipment and accessories(24101600) |
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Sell |
Elevator maintenance services(72101506) |
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Sell |
Lifts(24101604) |
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Sell |
Forklift or elevator accessories or
supplies(24101629) |
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Buy |
Power supply units(39121004) |
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Buy |
Hydraulic oil(15121504) |
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Buy |
Pneumatic cylinders(27131701) |
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Buy |
Steel channels(30101804) |
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Buy |
Steel beams(30101704) |
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Buy |
Iron plate(30102203) |
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Buy |
Channels(30101800) |
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Buy |
Angles(30101500) |
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Buy |
Motors(26101600) |
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Buy |
Welding rods(23171512) |
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Buy |
Knife blades(27111501) |
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Buy |
Blocks or pulleys(24101613) |
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Buy |
Pipe(40142100) |
CEO’s
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Name |
Kim Ho-Ill |
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Address |
221, Yongsan-dong ,Dalseo-gu, Daegu, Korea |
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Date of Birth |
11/20/1959 |
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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 |
213,000,000 KRW |
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Employees |
30 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Industrial Bank of Korea-Jukjeon Dong
Branch |
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Corporate Registered No. |
170111-0136102 |
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Business Registered No. |
503-81-37835 |
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Permit & Licenses |
11/2001 ISO 9001 Int’l Trade No.: 13126791 |
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Shareholder Position |
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Company History |
12/1992
Established as Modern Elevator Co. 04/1993
Made mending contract with Dong-Yang Elevator Co 07/1993
Made OEM contract with L.G. Elevator 03/1994
Made mending contract with L.G. Elevator 07/1994
Made parking system contract with L.G. Elevator 03/1995
Increased capital by USD103,000 12/1996
Made 21ea passenger elevator, 46ea freight elevator 08/1997
Made dumb waiter OEM contract with L.G. Elevator 06/12/1998 Incorporated as the present name 11/1998
Opened Gumi branch office 01/2001
Moved to the present HQ address from 617-5, Jang-dong ,Dalseo-gu,
Daegu, Korea 03/ 2001
Registered to Supply Administration 11/ 2001 Acquired ISO9001 certificate 03/ 2002
Joined Special Construction Association 11/ 2002
Opened Pohang branch office 07/ 2003
Extended more 500 elevators to be mended 11/2003
Made and installed 10ea MRL for Daegu subway construction 11/2004
Expend and Improved facilities include NCT(Computer Numeric Control)
and Enlarged HQ building and Factor 12/ 2004
Increased capital to 213,000,000 KRW from 103,000,000 KRW 05/2005 Received an order for 6ea
MRL(Machine Room Less) from Busan Subway Minister 06/ 2005 Extended to 500 ea mending
capacity 10/ 2005 Introduced by local broad cast
and newspaper(Young Nam IL Bo, TBC) 05/2006 Received an order for 15ea freight
elevator from Coppel in Mexico 11/ 2006 Started Door Operator development 06/2007 Designated as a company for export
by Korean small and medium enterprise department 07/ 2007 Export 2 sets of car elevator to
India |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
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President & CEO |
Mr. |
Kim Ho-Ill |
Male |
Korean |
06/12/1998 |
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Director |
Mr. |
Kim Tae-Soon |
Male |
Korean |
06/12/1998 |
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Director |
Mr. |
Choi Sam-Yong |
Male |
Korean |
02/14/2003 |
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Director |
Mr. |
Seo Won-Woo |
Male |
Korean |
05/30/2008 |
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Auditor |
M/S. |
Kim Jung-Sook |
Female |
Korean |
06/12/1998 |
Financials
Unit:
KRW
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Year |
Sales |
Assets |
Net income |
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2006 |
2,674,000,000 |
1,225,000,000 |
76,000,000 |
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2005 |
2,247,000,000 |
1,104,000,000 |
63,000,000 |
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2004 |
2,455,000,000 |
1,183,000,000 |
89,000,000 |
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2003 |
1,500,000,000 |
590,000,000 |
76,000,000 |
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2002 |
931,000,000 |
354,000,000 |
42,000,000 |
The latest & full financial is not available,
and the subject does not have any obligation to releases its financials to the
public.
Financial Description
Unit:
KRW
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Authorized
Capital |
200,000,000 |
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Paid-Up
Capital |
213,000,000 |
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Total Issues Shares |
21,300 |
Balance
Sheet
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Unit : Million Korean Won |
As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Total Assets |
1,183 |
590 |
354 |
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Current Assets |
857 |
444 |
291 |
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-Quick Assets |
779 |
440 |
288 |
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-Inventories |
78 |
4 |
3 |
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Fixed Assets |
326 |
146 |
63 |
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-Investment |
164 |
76 |
23 |
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-Tangibles |
162 |
70 |
40 |
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-Intangibles |
- |
- |
- |
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Total Liabilities |
627 |
233 |
73 |
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Current Liabilities |
621 |
213 |
73 |
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Fixed Liabilities |
7 |
20 |
- |
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Capital Stock |
213 |
103 |
103 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
343 |
254 |
178 |
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Capital Adjustment |
- |
- |
- |
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Total Equity |
556 |
357 |
281 |
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Liab. &
Shareholder’s Equity |
1,183 |
590 |
354 |
Income
Statement
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Unit : Million Korean Won |
As of 12/31/2004 |
As of 12/31/2003 |
As of 12/31/2002 |
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Sales |
2,455 |
1,500 |
931 |
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Cost of Sold Goods |
2,031 |
1,166 |
771 |
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Gross Profit |
424 |
333 |
159 |
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Selling & Admin. Expenses |
318 |
236 |
73 |
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Operating Income |
107 |
97 |
87 |
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Non-Operating Income |
2 |
1 |
- |
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Non-Operating expenses |
7 |
9 |
24 |
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Ordinary Income |
101 |
89 |
63 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
101 |
89 |
63 |
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Income Taxes Expenses |
12 |
13 |
21 |
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Net Income |
89 |
76 |
42 |
Products, Technologies, Services
Description
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Main
Products & Services |
Elevators, Dumb Waiter, Lifts |
Trade
Partners
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Customers |
PROCUREMENT SERVICE AGENCY-KOREA |
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Competitors |
TAE YANG MACHINERY CORP. RM. 722, OPUSⅠ, 611-26, GUROBON-DONG,
GURO-GU, SEOUL, KOREA TEL:+82-2-2639-8580 FAX:+82-2-2639-8582 OSPEED M CO., LTD. 4BA-210, SIHWA INDUSTRIAL COMPLEX, 702,
SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA TEL:+82-31-319-3456 FAX:+82-31-319-4957 KOENG CO., LTD. B-806, SK TWIN TECH TOWER, 345-9,
GASAN-DONG, GEUMCHEON-GU, SEOUL, KOREA
TEL:+82-2-838-6300 FAX:+82-2-839-4700 LUCKSUN CO., LTD. 1570-13, SEOCHO 3-DONG, SEOCHO-GU, SEOUL,
KOREA TEL:+82-2-585-2131 FAX:+82-2-585-1500 |
Sales by
Region (Activity & Markets)
The Subject exports to India.
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.47.18 |
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UK Pound |
1 |
Rs.75.05 |
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Euro |
1 |
Rs.60.89 |
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%)