MIRA INFORM REPORT

 

 

Report Date :           

12.12.2011

 

IDENTIFICATION DETAILS

 

Name :

BESTRADE INC.

 

 

Registered Office :

110, Bangi 2-dong, Songpa-gu, Seoul, Korea, Rm. 302, Songam Bldg., Zip Code 138-830

 

 

Country :

South korea

 

 

Date of Incorporation :

22.05.1995

 

 

Com. Reg. No.:

215-81-46572

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Wholesale of Basic Metals

 

 

No. of Employees :

2 persons

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

No Complaints

Litigation :

Clear

 

NOTES :

Any query related to this report can be made on e-mail : infodept@mirainform.com while quoting report number, name and date.

 

ECGC Country Risk Classification List – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

South Korea

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Basic

 

Company Name

BESTRADE INC.

(Korean Company Name : “베스트레이드(주)”)

Registered Address

110, Bangi 2-dong, Songpa-gu, Seoul, Korea

Building

Rm. 302, Songam Bldg.

Zip Code

138-830

Tel

+82-2-3401-5300

Fax

+82-2-3401-8300

E-mail

bestrade@hanmir.com

Trading Address

Rm. 302, Songam Bldg., 110, Bangi 2-dong, Songpa-gu, Seoul, Korea

Tel

+82-2-3401-5300

Fax

+82-2-3401-8300

Type

Export

Industry

Wholesale of Basic Metals

  Main Business

Steel Products, Metal Products, Zinc Galvanizing Wire, Stainless Wire

Established (mm/dd/yyyy)

05/22/1995

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Structural materials and basic shapes(30100000)

Sell

Steel(11101704)

Sell

Mechanical wire(31151800)

 

 

CEO’s

 

Name

Kim Yong-Oh

Address

Suite 108-905, 955, Topyeong-dong, Guri-si, Gyeonggi-do, Korea

Date of Birth

04/04/1959

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

50,000,000

Employees

2

Formation

Co., Ltd by Shares

Bank Details

Korea Exchange Bank

Corporate Registered No.

110111-1160011

Business Registered No.

215-81-46572

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

05/22/1995 Incorporated as the present name

12/05/1997 Moved to the present HQ address from 160-8, Garak-dong, Songpa-gu, Seoul, Korea

12/04/2006 The Subject was considered as disorganized based on the Commercial Law(2-1, The Article 520)

11/20/2009 Continued to operate the business

 

 

 

The premises at #103-804 MIRYUNG APT,138, Garak-dong, Songpa-gu, Seoul, Korea has been owned by Mr. Kim Kwang-Sik(BOD : 12/15/1955) since 08/30/2002. The premises are pledged as a collateral against SC First Bank of Korea(110111-0013419) amounting 84,000,000 KRW as of 12/23/2003.

 

We could not find any relations with the subject company, and Mr. Kim and/or the address at #103-804 MIRYUNG APT,138, Garak-dong, Songpa-gu, Seoul, Korea.

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Kim Yong-Oh

Male

Korean

11/20/2009

Director

M/S.

Kim In-Sook

Female

Korean

11/20/2009

Auditor

Mr.

Kim Seung-Kyu

Male

Korean

11/20/2009

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2007

1,966,000,000

 

 

2006

1,183,000,000

 

 

2005

1,585,000,000

 

 

2004

875,000,000

 

 

2003

1,000,000,000

 

 

 

The latest & full financials are not available, and the Subject Company does not have any obligations to release its financials to the public.

 

 

Financial Description

 

Authorized Capital(KRW)

200,000,000

Paid-Up Capital(KRW)

50,000,000

Total Issued Shares

10,000




Products, Technologies, Services Description

 

Main Products & Services

Steel Products, Metal Products, Zinc Galvanizing Wire, Stainless Wire

 

 

Trade Partners & Competitors

 

Competitors

DAWOO STEEL TRADING CO., LTD.

D-2109, MOKDONG TWIN VILL, MOK 5-DONG, YANGCHEON-GU, SEOUL, KOREA

TEL:+82-2-2646-8027~9  FAX:+82-2-2646-8012~3

 

SUNGHO STEEL CO., LTD.

823, CHIMSAN 1-DONG, BUK-GU, DAEGU, KOREA

TEL:+82-53-356-3587  FAX:+82-53-351-7577

 

HAN MOO INC.

RM. 724, SUSEO HYUNDAI VENTURE VILLE, 713, SUSEO-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-3474-5154  FAX:+82-2-3474-5032

 

 

Sales by Region

(Activity & Markets)

 

The Subject exports to Australia, Germany, Indonesia and USA.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.52.23

UK Pound

1

Rs.81.55

Euro

1

Rs.69.60

 

 

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

Capability to overcome financial difficulties seems comparatively below average.

 

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

----

NB

New Business

----

 

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

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.