MIRA INFORM REPORT

 

 

Report Date :           

21.12.2011

 

IDENTIFICATION DETAILS

 

Name :

SOHMYONG STEEL CO., LTD.

 

 

Registered Office :

966, Siheung 3-dong, Geumcheon-gu, Seoul,  Korea, 14-202, Siheung Cheoljae Complex, Zip Code 153-756

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2009

 

 

Date of Incorporation :

06.03.2003

 

 

Com. Reg. No.:

119-81-63782

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of Basic Metals

 

 

No. of Employees :

3 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

SOHMYONG STEEL CO., LTD.

(Korean Company Name : “(주)소명철강”)

Registered Address

966, Siheung 3-dong, Geumcheon-gu, Seoul,  Korea

Building

14-202, Siheung Cheoljae Complex

Zip Code

153-756

Tel

+82-2-804-1219

Fax

+82-2-804-0914

E-mail

sohmyong@kornet.net

Trading Address

14-202, Siheung Cheoljae Complex, 966, Siheung 3-dong, Geumcheon-gu, Seoul,  Korea

Tel

+82-2-804-1219

Fax

+82-2-804-0914

Type

Export/Import

Industry

Wholesale of Basic Metals

  Main Business

Steel, CR, HR, GI, EGI Sheet, Coil

Established (mm/dd/yyyy)

03/06/2003

The Subject Company occupies the premises of registered HQ address by leasing base.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Steel plate(30102204)

Sell

Steel(11101704)

Sell

Coil(30101900)

 

 

CEO’s

 

Name

Tae Myong-Hun

Address

Suite 101-1001, 425, Imun-dong, Dongdaemun-gu, Seoul, Korea

Date of Birth

11/06/1961

Title

Representative Director

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

50,000,000

Employees

3

Formation

Co., Ltd by shares

Bank Details

Industrial Bank of Korea-Shihung Nam Branch

Corporate Registered No.

110111-2731647

Business Registered No.

119-81-63782

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

03/06/2003 Incorporated as the present name

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Tae Myong-Hun

Male

Korean

05/20/2005

Auditor

M/S.

Kim Hyun-Hee

Female

Korean

05/20/2005

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2010

 

 

 

2009

6,956,000,000

2,182,000,000

264,000,000

2008

11,343,000,000

1,675,000,000

647,000,000

2007

9,086,000,000

1,432,000,000

134,000,000

2006

8,123,000,000

1,131,000,000

114,000,000

2005

9,248,000,000

692,000,000

139,000,000

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 Issues Shares

5,000

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Total Assets

2,182,000,000

1,675,000,000

1,432,000,000

Total Liabilities

776,000,000

353,000,000

744,000,000

Total Equity

1,406,000,000

1,322,000,000

688,000,000

Liab. & Shareholder’s Equity

2,182,000,000

1,675,000,000

1,432,000,000

 

Income Statement

 

Unit : Korean Won

As of 12/31/2009

As of 12/31/2008

As of 12/31/2007

Sales

   6,956,000,000

  11,343,000,000

     9,086,000,000

Net Income

     264,000,000

     647,000,000

       134,000,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Steel, CR, HR, GI, EGI Sheet, Coil

 

 

Trade Partners & Competitors

 

Competitors

TRANS PACIFIC RESOURCES LTD.

RM. 414, NAMSAN BLDG., 34-5, NAMSANDONG 3-GA, JUNG-GU, SEOUL, KOREA

TEL:+82-2-773-9210  FAX:+82-2-773-9213

 

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 deals with the companies in China, Hong Kong and Japan.

 

 

Court Action

 

Not Available.

 

News Clipping

 

---

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.03

UK Pound

1

Rs.82.34

Euro

1

Rs.68.99

 

 

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.