MIRA INFORM REPORT
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Report Date : |
29.09.2011 |
IDENTIFICATION DETAILS
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Name : |
SHINSUNG TRADING CO., LTD. |
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Registered Office : |
2nd Fl., 77-2, Ogeum-dong, Songpa-gu, Seoul, Korea, Zip Code 138-858 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
24.03.1989 |
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Com. Reg. No.: |
203-81-51451 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Structural Refractory Ceramic Products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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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
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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 |
SHINSUNG TRADING
CO., LTD. (Korean
Company Name : “신성국제교역(주)”) |
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Registered Address |
2nd Fl., 77-2, Ogeum-dong, Songpa-gu,
Seoul, Korea |
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Zip Code |
138-858 |
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Tel |
+82-2-409-3666~8 |
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Fax |
+82-2-2237-8422 |
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E-mail |
kychung@shinsungmineral.co.kr;dongmuya@shinsungmineral.co.kr
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Website |
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Trading Address |
2nd Fl., 77-2, Ogeum-dong, Songpa-gu,
Seoul, Korea |
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Tel |
+82-2-409-3666~8 |
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Fax |
+82-2-2237-8422 |
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Other Address |
98, Cheongyong-ri, Cheongan-myeon,
Goesan-gun, Chungbuk, Korea |
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Tel |
+82-43-836-9631 |
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Type |
Import |
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Industry |
Manufacture of Structural Refractory Ceramic Products |
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Main Business |
Suzolite Mica, Attapulgite, Fendolite, Construction Materials |
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Established (mm/dd/yyyy) |
03/24/1989 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
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Sell |
Soil(11111501) |
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Sell |
Specialty insulation(30141600) |
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Sell |
Ceramic fibre products(31371000) |
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Sell |
Rigid board insulation(30141507) |
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Sell |
Ceramic fibre products(31371000) |
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Sell |
Mica(11101501) |
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Sell |
Minerals(11101500) |
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Sell |
Wood pulp(11121607) |
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Sell |
Saw dust(11121701) |
CEO’s
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Name |
Cha Ho-Sun |
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Address |
275-14, Sinhyeon-ri, Opo-eup, Gwangju-si,
Gyeonggi-do, Korea |
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Date of Birth |
08/28/1945 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
Profiles
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Capital (KRW) |
100,000,000 |
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Employees |
10 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Korea Exchange Bank-Guro Branch Hana Bank-Sungsu Branch |
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Corporate Registered No. |
110111-0618673 |
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Business Registered No. |
203-81-51451 |
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Permit & Licenses |
04/29/1992 UL Mark Int’l Trade No.: 526474 |
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Shareholder Position |
N/A |
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Company History |
03/24/1989 Incorporated as the present name 03/07/2000 Moved to the present HQ address
from 333-60, Sindang-dong, Jung-gu, Seoul, Korea |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Cha Ho-Sun |
Male |
Korean |
03/24/1989 |
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Director |
Mr. |
Jung Ki-Yoon |
Male |
Korean |
04/21/1995 |
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Director |
Mr. |
Song Jae-Hyung |
Male |
Korean |
05/08/2004 |
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Auditor |
M/S. |
Jung Young-Soon |
Female |
Korean |
04/21/1995 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
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2009 |
2,794,000,000 |
2,499,000,000 |
158,000,000 |
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2008 |
4,198,000,000 |
1,563,000,000 |
262,000,000 |
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2007 |
3,393,000,000 |
1,199,000,000 |
571,000,000 |
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2006 |
1,656,000,000 |
871,000,000 |
43,000,000 |
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2005 |
2,022,000,000 |
859,000,000 |
54,000,000 |
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2004 |
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2003 |
1,500,000,000 |
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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
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Authorized Capital(KRW) |
200,000,000 |
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Paid-Up Capital(KRW) |
100,000,000 |
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Total Issues Shares |
10,000 |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Total Assets |
2,499,000,000 |
1,563,000,000 |
1,199,000,000 |
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Current Assets |
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-Quick Assets |
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-Inventories |
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Fixed Assets |
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-Investment |
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-Tangibles |
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-Intangibles |
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Total Liabilities |
1,365,000,000 |
600,000,000 |
388,000,000 |
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Current Liabilities |
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Fixed Liabilities |
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Capital Stock |
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Capital Surplus |
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Profit Surplus |
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Capital Adjustment |
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Total Equity |
1,134,000,000 |
963,000,000 |
811,000,000 |
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Liab. & Shareholder’s Equity |
2,499,000,000 |
1,563,000,000 |
1,199,000,000 |
Income
Statement
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Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
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Sales |
2,794,000,000 |
4,198,000,000 |
3,393,000,000 |
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Cost of Sold Goods |
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Gross Profit |
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Selling & Admin. Expenses |
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Operating Income |
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Non-Operating Income |
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Non-Operating Expenses |
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Income Before Taxes |
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Income Taxes Expenses |
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Net Income |
158,000,000 |
262,000,000 |
571,000,000 |
Products, Technologies, Services Description
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Main Products & Services |
MICA, Fire-Proof Coating Materials |
Trade Partners & Competitors
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Competitors |
EAST HILL CORPORATION 977, WANGAM-DONG, JECHEON-SI,
CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-646-5182 FAX:+82-43-646-5183 WOOIL ENTERPRISES, LTD. 543-15, SINWOL 4-DONG, YANGCHEON-GU, SEOUL,
KOREA TEL:+82-2-2608-0141 FAX:+82-2-2608-0145 MICA TEXTILE CO., LTD. RM. 205, HONGSIL BLDG., 47-1, OGEUM-DONG,
SONGPA-GU, SEOUL, KOREA TEL:+82-2-407-2902 FAX:+82-2-407-2904 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
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Affiliates |
SHINSUNG MINERAL CO., LTD.(154411-0010269) SHINSUNG CHEMTECH CO., LTD.(110111-2347212) |
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Cooperative Enterprise |
-Technical Support from CAFCO INTERNATIONAL(UK) |
Sales by Region
(Activity & Markets)
The Subject imports
from Canada, South Africa, UK and USA.
Court Action
Not Available.
News Clipping
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.91 |
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UK Pound |
1 |
Rs.76.53 |
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Euro |
1 |
Rs.66.43 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<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.