MIRA INFORM REPORT

 

 

Report Date :           

13.07.2011

 

IDENTIFICATION DETAILS

 

Name :

SCHENECTADY KOREA LTD.

 

 

Registered Office :

356-6, Hwachi-dong, Yeosu-si, Jeollanam-do, Korea, Zip Code 555-280

 

 

Country :

South Korea

 

 

Date of Incorporation :

19.12.2001

 

 

Com. Reg. No.:

417-81-24757

 

 

Legal Form :

Limited Responsibility Company

 

 

Line of Business :

Manufacture of Surface-Active Agents

 

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

South Korea

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

Basic

 

Company Name

SCHENECTADY KOREA LTD.

(Korean Company Name : “스케넥터디코리아(유)”)

Registered Address

356-6, Hwachi-dong, Yeosu-si, Jeollanam-do, Korea

Zip Code

555-280

Tel

+82-61-688-3643

Fax

+82-61-691-1917

E-mail

zstephan@hanmail.net

Website

www.siigroup.com

Trading Address

Rm.1919 19F Kwanghwamun Officia Bldg., 163 Sinmunno 1-ga, Jongno-qu, Seoul 110-999 Korea

Tel

+82-2-3276-2677~83

Fax

+82-2-3276-2684

Type

Export

Industry

Manufacture of Surface-Active Agents

  Main Business

Alkylphenol, Para Tertiary Octylphenol

Established (mm/dd/yyyy)

12/19/2001

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Surfactants(12161900)

Sell

Phenols or its substitutes or derivatives(12191503)

 

 

CEO’s

 

Name

Shim Jin-Sub

Address

Suite 109-301, 334-13, Gungnae-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea

Date of Birth

10/20/1954

Title

Co-President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

520,000,000

Employees

9

Formation

Limited Responsibility Company

Bank Details

Citibank, Korea

Corporate Registered No.

206214-0006594

Business Registered No.

417-81-24757

Permit & Licenses

N/A

Shareholder Position

It is known that the subject has been invested from SI Group(Schenectady International, Inc) and Mitsubishi Chemical Corp based of 50:50.

Company History

12/19/2001 Incorporated as the present name

12/28/2001 Increased capital to 520,000,000 KRW from 50,000,000 KRW

The Subject acquired the business from KUMHO P&B CHEMICALS.

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Co-President & CEO

Mr.

Shim Jin-Sub

Male

Korean

04/08/2002

Co-President & CEO

Mr.

Manabuchi Kumoto

Male

Japanese

12/20/2010

Director

Mr.

Michihoka Haru

Male

Japanese

11/03/2008

Director

Mr.

Daniel Paul Tily

Male

USA

10/31/2006

 

 

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 Limited Responsibility Company

Paid-Up Capital(KRW)

520,000,000

Total Issues Shares

Not Applicable to the Limited Responsibility Company

 

 

Products, Technologies, Services Description

 

Main Products & Services

Alkylphenol, Para Tertiary Octylphenol

Annual Production Capacity

7,000 MT/year

 

 

Trade Partners & Competitors

 

Customers

SUMIMOTO BAKELITE NORTH AMERICA

INC 24 MILL STREET MANCHESTER, CT 0 6042-2316 USA

TEL:+1-860-646-5500 FAX:+1-860-646-5503

Competitors

KPX GREEN CHEMICAL CO., LTD.

411-13, DOKGOT-RI, DAESAN-EUP, SEOSAN-SI, CHUNGCHEONGNAM-DO, KOREA

TEL:+82-41-661-5000  FAX:+82-41-661-5019

 

AK CHEMTECH CO., LTD.

MISEONG BLDG., 72-6, YONGJEON-DONG, DONG-GU, DAEJEON, KOREA

TEL:+82-42-280-5700  FAX:+82-42-621-0466

 

WOORI P & C CORPORATION

7TH FL., HIGLO BLDG., 914-1, DAECHI 4-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-3432-2800  FAX:+82-2-3432-4695

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

SI GROUP(SCHENECTADY INTERNATIONAL, INC)

2750 BALLTOWN ROAD SCHENECTADY, NY 12301 U.S.A.

TEL: +1-518-347-4200

Corporate Ownership

SI GROUP(SCHENECTADY INTERNATIONAL, INC)

2750 BALLTOWN ROAD SCHENECTADY, NY 12301 U.S.A.

TEL: +1-518-347-4200

Major Shareholders

SI GROUP(SCHENECTADY INTERNATIONAL, INC)

2750 BALLTOWN ROAD SCHENECTADY, NY 12301 U.S.A.

TEL: +1-518-347-4200

 

 

Sales by Region

(Activity & Markets)

 

The Subject exports to USA.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.69

UK Pound

1

Rs.70.87

Euro

1

Rs.62.26

 

 

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.