MIRA INFORM REPORT
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Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
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Name : |
NASIGN CO., LTD. |
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Registered Office : |
70-9, Cheongdam-dong, Gangnam-gu, Seoul, Korea, 4th FI., Jeong-in Bldg., Zip Code 135-953 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
12.12.2008 |
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Com. Reg. No.: |
206-86-29671 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Leather Garments |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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South Korea |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Basic
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Company
Name |
NASIGN CO., LTD. (Korean Company Name :
“(주)나자인”) |
|
Registered Address |
70-9, Cheongdam-dong, Gangnam-gu, Seoul,
Korea |
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Building |
4th FI., Jeong-in Bldg. |
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Zip Code |
135-953 |
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Tel |
+82-2-3496-8000 |
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Fax |
+82-2-3496-8098 |
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E-mail |
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Website |
www.nasign.co.kr |
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Trading Address |
4th FI., Jeong-in Bldg., 70-9,
Cheongdam-dong, Gangnam-gu, Seoul, Korea |
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Tel |
+82-2-3496-8000 |
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Fax |
+82-2-3496-8098 |
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Other Address |
Sungjun Bldg., 656-18, Sinsa-dong,
Gangnam-gu, Seoul, Korea |
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Other Address |
Rm.710, Paju Premiumoutlet, 1790-8, Beopheung-ri,
Tanhyeon-myeon, Paju-si, Gyeonggi-do, Korea |
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Type |
Export |
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Industry |
Manufacture of Leather Garments |
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Main Business |
Leather Clothing, Leather Skin, Leather Bag |
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Established (mm/dd/yyyy) |
12/12/2008 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Leathers(11162300) |
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Sell |
Clothing(53100000) |
CEO’s
|
Name |
Lee Kyu-Yong |
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Address |
Suite 12-1201, 86, Jamsil-dong,
Songpa-gu, Seoul, Korea |
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Date of Birth |
04/08/1953 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
|
Capital (KRW) |
4,500,000,000 |
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Employees |
51 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Korea Exchange Bank |
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Corporate Registered No. |
110111-4013340 |
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Business Registered No. |
206-86-29671 |
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Permit & Licenses |
Int’l Trad No.: 841269 |
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Shareholder Position |
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Company History |
12/12/2008 Incorporated as the present name 07/31/2009 Moved to the present HQ address
from 91-18,
Gunja-dong, Gwangjin-gu, Seoul, Korea 04/05/2011 Increased capital to 4,500,000,000 KRW
from 3,000,000,000 KRW |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Kyu-Yong |
Male |
Korean |
12/12/2008 |
|
Director |
Mr. |
Kang Hoon |
Male |
Korean |
06/10/2009 |
|
Director |
Mr. |
Han Sang-Woo |
Male |
Korean |
10/30/2009 |
|
Auditor |
M/S. |
Han Sang-Kyung |
Female |
Korean |
01/31/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
40,930,334,898 |
14,677,209,348 |
3,412,205,229 |
|
|
2009 |
21,449,326,579 |
11,352,248,729 |
-3,353,711,924 |
|
2008 |
3,090,271,742 |
17,238,857,876 |
-2,161,338,578 |
Financial Description
|
Authorized Capital(KRW) |
12,000,000,000 |
|
Paid-Up Capital(KRW) |
4,500,000,000 |
|
Total Issues Shares |
9,000,000 |
Balance
Sheet
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|||
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
14,677,209,348 |
11,352,248,729 |
17,238,857,876 |
|
Current Assets |
12,539,155,904 |
9,195,291,947 |
11,545,135,685 |
|
-Quick Assets |
9,540,188,656 |
6,145,467,994 |
9,052,714,602 |
|
-Inventories |
2,998,967,248 |
3,049,823,953 |
2,492,421,083 |
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Fixed Assets |
2,138,053,444 |
2,156,956,782 |
5,693,722,191 |
|
-Investment |
119,169,512 |
364,929,042 |
533,641,631 |
|
-Tangibles |
769,641,202 |
619,119,199 |
4,317,092,418 |
|
-Intangibles |
- |
- |
169,857,601 |
|
-Others |
1,249,242,730 |
1,172,908,541 |
673,130,541 |
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Total Liabilities |
4,988,209,702 |
5,062,391,712 |
7,607,757,535 |
|
Current Liabilities |
4,204,703,905 |
4,565,011,187 |
7,536,496,184 |
|
Fixed Liabilities |
783,505,797 |
497,380,525 |
71,261,351 |
|
Capital Stock |
3,000,000,000 |
3,000,000,000 |
3,000,000,000 |
|
Capital Surplus |
8,791,844,919 |
8,791,844,919 |
8,791,844,919 |
|
Profit Surplus |
-2,102,845,273 |
-5,515,050,502 |
-2,161,338,578 |
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Capital Adjustment |
- |
13,062,600 |
594,000 |
|
Total Equity |
9,688,999,646 |
6,289,857,017 |
9,631,100,341 |
|
Liab. & Shareholder’s Equity |
14,677,209,348 |
11,352,248,729 |
17,238,857,876 |
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Current Liabilities |
4,204,703,905 |
4,565,011,187 |
7,536,496,184 |
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Trade Payables |
776,239,901 |
1,546,109,850 |
531,300,147 |
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Short-Term Borrowings |
450,435,160 |
- |
4,706,400,000 |
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Short-Term Borrowings-Foreign Currency |
1,790,829,137 |
2,164,873,460 |
1,395,310,884 |
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Account Payables |
216,580,719 |
100,792,519 |
76,338,406 |
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Accrued Expenses |
839,843,530 |
611,969,034 |
692,181,806 |
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Advance Receipts |
65,818,260 |
62,765,524 |
38,420,415 |
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Withholdings |
56,584,325 |
78,500,800 |
57,915,647 |
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Accrued Custom Tax |
|
|
38,628,879 |
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Derivatives |
8,372,873 |
- |
|
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Fixed Liabilities |
783,505,797 |
497,380,525 |
71,261,351 |
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Provision for Severance & Retirement |
742,193,818 |
571,202,566 |
159,043,829 |
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Leasehold Deposit Received |
80,000,000 |
- |
- |
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Provisions for Mileage |
51,000,000 |
- |
- |
Income
Statement
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|||
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Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Sales |
40,930,334,898 |
21,449,326,579 |
3,090,271,742 |
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Cost of Sold Goods |
25,475,030,023 |
12,410,972,885 |
2,811,846,117 |
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Gross Profit |
15,455,304,875 |
9,038,353,694 |
278,425,625 |
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Selling & Admin. Expenses |
11,956,196,868 |
12,126,923,504 |
766,088,413 |
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Operating Income |
3,499,108,007 |
-3,088,569,810 |
-487,662,788 |
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Non-Operating Income |
1,242,410,109 |
1,666,706,670 |
1,639,263,746 |
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Non-Operating Expenses |
1,329,312,887 |
1,464,976,304 |
2,997,669,369 |
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Income Before Taxes |
3,412,205,229 |
-2,886,839,444 |
-1,846,068,411 |
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Income Taxes Expenses |
- |
466,872,480 |
315,270,167 |
|
Net Income |
3,412,205,229 |
-3,353,711,924 |
-2,161,338,578 |
Cash
Flows
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Cash Flows from Operating |
-299,714,488 |
3,494,547,072 |
1,435,764,948 |
|
-Net Income |
3,412,205,229 |
-3,353,711,924 |
-2,161,338,578 |
|
-Exp. without Cash Outflow |
1,360,046,656 |
4,592,384,729 |
2,882,037,288 |
|
-Revenue without Cash Inflows |
-51,486,464 |
-667,283,572 |
-1,204,161,504 |
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-Changes in Asset/ & Liability |
-5,020,479,909 |
2,923,157,839 |
1,919,227,742 |
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Cash Flows from Investing |
420,648,865 |
2,029,530,979 |
119,496,245 |
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-Cash Inflow from Investing |
1,142,464,862 |
4,163,874,598 |
130,240,000 |
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-Cash Outflows for Investing |
-721,815,997 |
-2,134,343,619 |
-10,743,755 |
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Cash Flows from Financing |
147,458,935 |
-3,702,703,904 |
-2,221,161,155 |
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-Cash Inflows from Financing |
12,272,746,420 |
6,694,221,461 |
- |
|
-Cash Outflows from Financing |
-12,125,287,485 |
-10,396,925,365 |
-2,221,161,155 |
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Increase/Decrease in Cash |
268,393,312 |
1,821,374,147 |
-665,899,962 |
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Cash at the Beginning of Year |
1,914,657,369 |
93,283,222 |
759,183,184 |
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Cash at the End of Year |
2,183,050,681 |
1,914,657,369 |
93,283,222 |
Productsk, Technologies, Services Description
|
Main Products & Services |
Leather Clothing, Leather Skin, Leather Bag |
Trade Partners & Competitors
|
Competitors |
PHILKO INC. 8TH FL., BOSEONG BLDG., 891-25, DAECHI
4-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-501-5285 FAX:+82-2-556-0744 DUCKSAN INTERNATIONAL CO., LTD. 7TH FL., DEOKSAN BLDG., 289-9, SEONGSU 2-GA
3-DONG, SEONGDONG-GU, SEOUL, KOREA TEL:+82-2-465-1564 FAX:+82-2-465-0767 ILLWON KOREA CO., LTD. 83-16, GARAKBON-DONG, SONGPA-GU, SEOUL,
KOREA TEL:+82-2-404-6767 FAX:+82-2-404-6768 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Subsidiary |
TIANJIN KUMHUNG YANGHAENG INT’L TRADE CO.,
LTD.(CHINA) (100.0% held by the subject company) NO. 3, YING YUAN ROAD, SHUANG GANG VILLAGE,
SOUTH SUBURB, TIANJIN, CHINA TEL:+86-22-2858-3881 FAX:+86-22-2858-1324 TIANJIN YOONGKYUNG KUMHUNG LEATHER CO.,
LTD.(CHINA) (25.0% held by the subject company) NASIGN NEW YORK INC. (100.0% held by the subject company) HABUK DONGMYUNG KUMHUNG LEATHER
CO., LTD.(CHINA) (49.0% held by the subject company) |
|
Cooperative Enterprise |
-Insured company DONGBU INSURANCE CO.,LTD.(110111-0095285) LIG INSURANCE CO., LTD.(110111-0017859) -Agreed Exclusive Sales Authority from MANDARINA DUCK S.P.A. |
Sales by Region
(Activity & Markets)
The Subject deals
with the companies in China.
Court Action
No.
News Clipping
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.38 |
|
UK Pound |
1 |
Rs.71.24 |
|
Euro |
1 |
Rs.64.16 |
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 |
|
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NB |
New Business |
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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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.