MIRA INFORM REPORT
|
Report Date : |
11.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
YOUNG JIN FLEX CO., LTD. |
|
|
|
|
Formerly Known As : |
YOUNGJIN FLEXIBLE INDUSTRIES CO., LTD. |
|
|
|
|
Registered Office : |
1251-2, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea, 1Da-503, Sihwa Industrial Complex, Zip Code 429-913 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
27.12.1999 |
|
|
|
|
Com. Reg. No.: |
130-81-64279 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Pipes and Tubes, of Non-cast Iron or Steel |
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 |
Basic
|
Company
Name |
YOUNG JIN FLEX
CO., LTD. (Korean Company
Name : “(주)영진플렉스”) |
|
Registered Address |
1251-2, Jeongwang 3-dong, Siheung-si, Gyeonggi-do,
Korea |
|
Building |
1Da-503, Sihwa Industrial Complex |
|
Zip Code |
429-913 |
|
Tel |
+82-31-432-9741~4 |
|
Fax |
+82-31-432-9745 |
|
E-mail |
webmaster@yjflex.com;yj1991@yjflex.com |
|
Website |
www.yjflex.com |
|
Trading Address |
1Da-503, Sihwa Industrial Complex, 1251-2,
Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-432-9741~4 |
|
Fax |
+82-31-432-9745 |
|
Other Address |
11-113 , Siheung Circulation Complex, 984, Siheung 3-dong,
Geumcheon-gu, Seoul, Korea |
|
Tel |
+82-2-892-7574 |
|
Fax |
+82-2-895-2281 |
|
Type |
Export |
|
Industry |
Manufacture of Pipes and Tubes, of Non-cast Iron or Steel |
|
Main Business |
Flexible Joint, Sprinkler Joint, Flexible Sprinkler Hose, Water Hammer
Cushion, Flexible Connector, Expansion Joint, Valve |
|
Established (mm/dd/yyyy) |
12/27/1999 |
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Pipe expansion joints(40142312) |
|
Sell |
Flex connectors(39121419) |
|
Sell |
Pipe fittings(40142300) |
|
Sell |
Tube and tubing(31231300) |
CEO’s
|
Name |
Lim Tae-Gyeong |
|
Address |
127-10, Seongdong-ri,
Tanhyeon-myeon, Paju-si, Gyeonggi-do, Korea |
|
Date of Birth |
10/25/1960 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
Profiles
|
Capital (KRW) |
1,000,000,000 |
|
Employees |
56 |
|
Formation |
Co., Ltd by Shares Venture Business |
|
Bank Details |
Citibank, Korea-Sihwa Industrial Complex
Branch |
|
Corporate Registered No. |
134911-0015990 |
|
Business Registered No. |
130-81-64279 |
|
Permit & Licenses |
12/2000 ISO 9002 11/2001 KS Mark 10/2009 UL Mark 04/2010 KS Mark Int’l Trade No.: 45213111 |
|
Shareholder Position |
N/A |
|
Company History |
11/20/1991 Established as YOUNGJIN KIGONG CO.(Sole
Proprietorship) 12/27/1999 Incorporated as YOUNGJIN
FLEXIBLE INDUSTRIES CO., LTD. 12/28/2004 Changed company name to the
present name 05/2005 Designated as a Venture Business 03/2006 Designated as an INNO-BIZ Company 04/28/2006 Increased the authorized shares
to 400,000 shares from 80,000 shares 11/11/2009 Designated as a Venture Business
again 12/09/2010 Increased capital to
1,000,000,000 KRW from 500,000,000 KRW |
|
|
|
Management
|
Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President & CEO |
Mr. |
Lim Tae-Gyeong |
Male |
Korean |
03/11/2008 |
|
Director |
Mr. |
Cha Jong-Hyun |
Male |
Korean |
03/11/2008 |
|
Director |
Mr. |
Yoon Joo-Tae |
Male |
Korean |
12/08/2010 |
|
Auditor |
M/S. |
Choi Jeom-Rye |
Female |
Korean |
12/08/2010 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2009 |
9,294,000,000 |
5,911,000,000 |
1,463,000,000 |
|
2008 |
8,755,000,000 |
4,430,000,000 |
374,000,000 |
|
2007 |
7,113,000,000 |
3,785,000,000 |
249,000,000 |
|
2006 |
|
|
|
|
2005 |
|
|
|
|
2004 |
3,500,000,000 |
|
|
|
2003 |
2,600,000,000 |
|
|
The latest
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) |
2,000,000,000 |
|
Paid-Up Capital(KRW) |
1,000,000,000 |
|
Total Issues Shares |
200,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Total Assets |
5,911,000,000 |
4,430,000,000 |
3,785,000,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
|
Total Liabilities |
2,461,000,000 |
2,443,000,000 |
2,245,000,000 |
|
Current Liabilities |
|
|
|
|
Fixed Liabilities |
|
|
|
|
Capital Stock |
|
|
|
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
3,450,000,000 |
1,987,000,000 |
1,540,000,000 |
|
Liab. &
Shareholder’s Equity |
5,911,000,000 |
4,430,000,000 |
3,785,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Sales |
9,294,000,000 |
8,755,000,000 |
7,113,000,000 |
|
Cost of Sold Goods |
|
|
|
|
Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
|
|
|
|
Operating Income |
|
|
|
|
Non-Operating Income |
|
|
|
|
Non-Operating Expenses |
|
|
|
|
Ordinary Income |
|
|
|
|
Special Income |
|
|
|
|
Income Before Taxes |
|
|
|
|
Income Taxes Expenses |
|
|
|
|
Net Income |
1,463,000,000 |
374,000,000 |
249,000,000 |
Products, Technologies, Services Description
|
Main Products & Services |
Flexible Joint, Sprinkler Joint, Flexible Sprinkler Hose, Water Hammer
Cushion, Flexible Connector, Expansion Joint, Valve |
Trade Partners & Competitors
|
Competitors |
WONIL INDUSTRIAL CO., LTD. 595-1, SONGCHEON-RI, SUDONG-MYEON,
NAMYANGJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-594-8033 FAX:+82-31-594-8034 KWANG WON I & D CO., LTD. 45, SACHANG-RI, YANGGAM-MYEON, HWASEONG-SI,
GYEONGGI-DO, KOREA TEL:+82-31-353-3245 FAX:+82-31-353-4146 DONG YANG CO., LTD. 858-1, EOGOK-DONG, YANGSAN-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-367-2311 FAX:+82-55-367-2316 |
Sales by Region
(Activity & Markets)
The Subject exports
to India, Israel and Vietnam.
Court Action
Not Available.
News Clipping
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.72 |
|
UK Pound |
1 |
Rs.72.93 |
|
Euro |
1 |
Rs.64.72 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.