MIRA
INFORM REPORT
|
Report Date : |
13.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
STONE INDIA CO. |
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Registered Office : |
123-1, Hongje 2-dong, Seodaemun-gu, Seoul, Korea 120-854 |
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Country : |
South Korea |
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Year of Establishment : |
2002 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesales and Retails of Jewelry, Stones
and its products |
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|
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No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRAs Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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 30, 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Basic Information
|
Company
Name |
STONE INDIA CO. (Korean Company Name : 스톤인디아) |
|
Registered Address |
123-1, Hongje 2-dong,
Seodaemun-gu, Seoul, Korea (New Address
System: 4, Hongjaewon 6-gil, Seodaemun-gu, Seoul, Korea) |
|
Zip Code |
120-854 |
|
Tel |
+82-70-8279-3192 |
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Fax |
+82-2-730-6374 |
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E-mail |
koreadiamond@hanmail.net |
|
Website |
www.stoneindia.co.kr |
|
Trading Address |
123-1, Hongje 2-dong,
Seodaemun-gu, Seoul 120-854 Korea |
|
Tel |
+82-2-730-6374 |
|
Fax |
+82-2-730-6374 |
|
Type |
Export/Import |
|
Industry |
Wholesales and Retails of Jewelry, Stones
and its products |
|
Main Business |
Marbles, Granites, Sandstones, Slates |
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Sub
Business |
|
|
Established (mm/dd/yyyy) |
2002 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Marble(11111605) |
|
Sell |
Stone(11111600) |
|
Sell |
Granite(11111604) |
CEOs
|
Name |
Ahn
Kil-Cheon (Mobile : +82-10-4037-0081) |
|
Address |
Suite 214-802, Mansu Jugong, Mansu-dong,
Namdong-gu, Incheon, Korea |
|
Date of Birth |
09/26/1959 |
|
Title |
Owner |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
N/A |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
N/A. (The numbers are kept by the National
Tax Service confidentially.) Because the subjects full Business
Registered No., for checking through the National Tax Service whether the
subject is still existing or not, is not available, so we cannot confirm if
the subject exist or not legally.) |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
2002 Established as the present name, but
the exact date is not available. |
In our research through
the official sources including the Supreme Court Registry at which every Co Ltd
type of Company should be registered, we could not find the subject company. So
we submit the report as a Sole Proprietorship Type of Company.
In our research we could not find any details except for the contents in
its website, www.stoneindia.co.kr. And one of its
affiliated company, JUYOUNG AIN CO., LTD.(110111-1270539) has been
closed according to the National Tax Services, Korea as of 06/30/2010.
The Phone
number(+82-2-730-6374)
and fax number(+82-2-730-6374) are belonged to a Christian Church, called as
Inwang Church.
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Ahn
Kil-Cheon |
Male |
Korean |
2002 |
Financials
The 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) |
Not Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Total Issued Shares |
Not Applicable to the Sole Proprietorship |
Products, Technologies, Services Description
|
Main Products & Services |
Marbles Granites Sandstones Slates & Limestones |
Trade Partners & Competitors
|
Competitors |
JUNGSUN MARBLE CO., LTD. 11, YUCHEON-RI, BUK-MYEON, JEONGSEON-GUN,
GANGWON-DO, KOREA TEL:+82-33-562-4600 FAX:+82-33-562-4610 ROLLING STONE CO., LTD. 131-3, GAMIL-DONG, HANAM-SI, GYEONGGI-DO,
KOREA TEL:+82-70-7096-1000 FAX:+82-31-903-1495 HAN KUK B.M. LTD. 1ST FL., IMAE BLDG., 202-5, GUUI 3-DONG,
GWANGJIN-GU, SEOUL, KOREA TEL:+82-2-454-9361 FAX:+82-2-454-9365 |
Related Parties
(Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
JUYOUNG AIN CO., LTD.(110111-1270539) (*)The Subject has been closed according to
the National Tax Services, Korea as of 06/30/2010 |
|
Overseas Office |
India Office E 2/20
MALVIYA NAGAR NEWDELHI INDIA |
Sales by Region
(Activity &
Markets)
The Subject imports
from India.
Court Action
Not Available.
News Clipping
--
DIAMOND INDUSTRY
INDIA
-
From time immemorial, India is well known in the world
as the birthplace for diamonds. It is difficult to trace the origin of
diamonds but history says that in the remote past, diamonds were mined only in
India. Diamond production in India can be traced back to almost 8th
Century B.C. India, in fact, remained undisputed leader till 18th
Century when Brazilian fields were discovered in 1725 followed by emergence of
S. Africa, Russia and Australia.
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The achievement of the Indian diamond industry was
possible only due to combination of the manufacturing skills of the Indian
workforce and the untiring and unflagging efforts of the Indian diamantaires,
supported by progressive Government policies.
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The area of study of family owned diamond businesses
derives its importance from the huge conglomerate of family run organizations
which operate in the diamond industry since many generations.
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Some of the basic traits of family run business
enterprises include spirit of entrepreneurship, mutual trust lowers transaction
costs, small, nimble and quick to react, information as a source of advantage
and philanthropy.
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Family owned diamond businesses need to improve on
many fronts including higher standard of corporate governance, long-term
performance focused strategies, modern management and technology.
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The diamond jewellery industry in India today may be
more than Rs 60000 mil and is rated amongst the fastest growing in the
world. Indi ranks third in the world in domestic diamond consumption.
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Utmost caution is to be exercised while dealing with
some medium and large diamond traders which are usually engaged in fictitious
import export, inter-company transactions, financially assisted by banks. In
the process, several public sector banks lost several hundred million rupees.
They mostly diverted borrowed money for diamond business into real estate and
capital markets.
-
Excerpts from Times of India dated 30th
October 2010 is as under
DIAMOND
SAGA DIRTY DOZEN STUCK WITH 2K CR DEBT
This could be the biggest credibility crisis
the Indian diamond industry has ever faced. Fifteen banks run the risk of losing
Rs 2000 crore lent to a dozen diamond firms in Surat. Until about two months
ago, they had not repaid these dues. Bankers believe many diamantaires
borrowed money during the economic downturn two years ago and diverted funds to
businesses like real estate and capital markets. Many of themselves made money
from these businesses but their diamond companies have gone sick and declared
insolvency.
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Most of the money borrowed from the banks in the name
of their diamond business has been diverted in real estate and the share
market. The banks are not in a position to seize their properties because in
many cases, these were purchased in the name of their relatives and friends.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.42 |
|
|
1 |
Rs.81.92 |
|
Euro |
1 |
Rs.69.94 |
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 SCs 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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.