MIRA INFORM REPORT
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Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
UL HWA CORPORATION |
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Registered Office : |
293-1, Gongdan 2-dong, Gumi-si, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
01.06.1985 |
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Com. Reg. No.: |
513-81-02177 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Weaving of Man-Made Fiber Fabrics |
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No. of Employees
: |
302 |
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 : |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
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Company
Name |
UL HWA
CORPORATION (Korean Company
Name : “(주)을화”) |
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Registered Address |
293-1, Gongdan 2-dong, Gumi-si, |
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Zip Code |
730-906 |
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Tel |
+82-54-463-8387 |
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Fax |
+82-54-463-8382 |
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E-mail |
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Website |
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Trading Address |
293-1, Gongdan 2-dong, Gumi-si, |
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Tel |
+82-54-463-8387 |
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Fax |
+82-54-463-8382 |
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Other Address-Bisan Dyeing Factory |
3th Fl., Industrial Bank of |
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Tel |
+82-53-353-9977 |
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Fax |
+82-53-353-1490 |
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Other Address-Branch |
914-4, Woram-dong,
Dalseo-gu, |
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Other Address-Gumi Branch |
229, Gongdan-dong, Gumi-si, |
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Other Address-Chimsan Branch |
233-7, Chimsan-dong,
Buk-gu, |
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Other Address-Pyeongni
Branch |
409-9, Pyeongni-dong,
Seo-gu, |
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Type |
Export/Import |
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Industry |
Weaving of Man-Made Fiber Fabrics |
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Main Business |
Polyester Fabrics |
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Sub
Business |
Dyeing and Finishing of Woven and Knitted Fabrics |
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Established (mm/dd/yyyy) |
06/01/1985 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Fabrics and leather production(73141700) |
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Sell |
Synthetic fabrics(11161800) |
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Sell |
Knit synthetic fabrics(11161804) |
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Sell |
Sweaters(53101700) |
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Buy |
Polyester yarn(11151703) |
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Buy |
Threads(11151600) |
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Buy |
Polyester yarn(11151703) |
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Name |
Song In-Ho |
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Address |
Suite 106-1407, 1356-3, Manchon-dong,
Suseong-gu, |
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Date of Birth |
01/07/1959 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
938,360,000 |
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Employees |
302 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Daegu Bank Kookmin Bank Industrial Bank of Korea Exchange Bank-Daegu Branch |
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Corporate Registered No. |
175311-0001405 |
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Business Registered No. |
513-81-02177 |
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Permit & Licenses |
Int’l Trade No.: 854328 |
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Shareholder Position |
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Company History |
06/01/1985 Incorporated as the present name 12/03/2010 Decreased the authorized shares
to 142,976 shares from 160,000 shares 12/03/2010 Decreased capital to 938,360,000
KRW from 1,429,760,000 KRW 11/12/1999 Acquired DOO BAIK CO., LTD. |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Song In-Ho |
Male |
Korean |
07/01/2003 |
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Director |
Mr. |
Kim Kwang-Hern |
Male |
Korean |
03/28/2001 |
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Director |
Mr. |
Jang Byung-Hwan |
Male |
Korean |
03/28/2010 |
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Auditor |
Mr. |
Lee Kwang-Sik |
Male |
Korean |
03/28/2010 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
104,614,265,325 |
59,528,898,171 |
4,364,464,062 |
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2009 |
94,703,443,024 |
54,712,391,553 |
2,295,883,945 |
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2008 |
85,760,966,202 |
45,098,278,541 |
209,896,906 |
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Authorized Capital(KRW) |
1,429,760,000 |
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Paid-Up Capital(KRW) |
938,360,000 |
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Total Issued Shares |
93,836 |
Balance
Sheet
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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 |
59,528,898,171 |
54,712,391,553 |
45,098,278,541 |
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Current Assets |
24,723,748,634 |
25,336,743,855 |
24,862,924,407 |
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-Quick Assets |
12,423,615,131 |
11,132,701,408 |
9,390,098,140 |
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-Inventories |
12,300,133,503 |
14,204,042,447 |
15,472,826,267 |
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Fixed Assets |
34,805,149,537 |
29,375,647,698 |
20,235,354,134 |
|
-Investment |
8,992,889,647 |
9,730,551,867 |
8,546,776,106 |
|
-Tangibles |
25,282,672,712 |
19,056,115,699 |
11,040,204,942 |
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-Intangibles |
529,587,178 |
588,980,132 |
648,373,086 |
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Total Liabilities |
45,117,461,734 |
43,965,019,740 |
35,379,421,717 |
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Current Liabilities |
40,882,049,295 |
43,694,399,819 |
32,289,423,181 |
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Fixed Liabilities |
4,235,412,439 |
270,619,921 |
3,089,998,536 |
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Capital Stock |
938,360,000 |
1,050,110,000 |
1,050,110,000 |
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Capital Surplus |
3,809,193,947 |
3,809,193,947 |
3,809,193,947 |
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Profit Surplus |
11,588,179,525 |
7,223,715,463 |
4,927,831,518 |
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Capital Adjustment |
-1,924,297,035 |
-1,335,647,597 |
-68,278,641 |
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Total Equity |
14,411,436,437 |
10,747,371,813 |
9,718,856,824 |
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Liab. & Shareholder’s Equity |
59,528,898,171 |
54,712,391,553 |
45,098,278,541 |
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Current Liabilities |
40,882,049,295 |
43,694,399,819 |
32,289,423,181 |
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Trade Payables |
16,401,541,856 |
11,184,240,028 |
7,152,784,766 |
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Short-Term Borrowings |
20,228,314,560 |
27,908,059,560 |
19,397,324,560 |
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Account Payables |
2,634,572,363 |
3,894,307,562 |
5,195,217,548 |
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Advance Receipts |
689,349,961 |
341,609,997 |
259,923,431 |
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Withholdings |
68,881,183 |
47,268,253 |
38,629,613 |
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Accrued Expenses |
86,539,495 |
6,263,174 |
8,653,244 |
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Current Portion of Long-Term Debts |
210,002,740 |
299,581,180 |
224,128,260 |
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Accrued Income Tax |
555,001,068 |
4,023,996 |
- |
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Short-Term Borrowings to Shareholders/ Executives/ Employees |
7,846,069 |
9,046,069 |
12,761,759 |
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Fixed Liabilities |
4,235,412,439 |
270,619,921 |
3,089,998,536 |
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Long-Term Borrowings |
4,206,891,180 |
246,919,360 |
921,364,280 |
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Provision for Severance & Retirement |
1,433,681,630 |
1,023,205,540 |
1,082,893,670 |
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Long-Term Account Payables |
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|
1,150,000,000 |
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Leasehold Deposit Received |
20,000,000 |
20,000,000 |
20,000,000 |
Income
Statement
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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 |
104,614,265,325 |
94,703,443,024 |
85,760,966,202 |
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Cost of Sold Goods |
86,789,478,566 |
70,974,635,510 |
62,405,482,910 |
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Gross Profit |
17,824,786,759 |
23,728,807,514 |
23,355,483,292 |
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Selling & Admin. Expenses |
14,429,905,613 |
11,875,005,525 |
11,442,559,695 |
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Operating Income |
3,394,881,146 |
11,853,801,989 |
11,912,923,597 |
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Non-Operating Income |
4,635,382,650 |
3,462,306,967 |
3,231,214,006 |
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Non-Operating Expenses |
3,063,267,415 |
12,951,734,725 |
15,072,319,901 |
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Income Before Taxes |
4,966,996,381 |
2,364,374,231 |
71,817,702 |
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Income Taxes Expenses |
602,532,319 |
68,490,286 |
-138,079,204 |
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Net Income |
4,364,464,062 |
2,295,883,945 |
209,896,906 |
Cash
Flows
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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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Cash Flows
from Operating |
11,630,746,786 |
3,857,732,927 |
4,962,367,360 |
|
-Net Income |
4,364,464,062 |
2,295,883,945 |
209,896,906 |
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-Exp.
without Cash Outflow |
2,727,187,384 |
1,444,635,589 |
1,463,107,091 |
|
-Revenue
without Cash Inflows |
-67,742,092 |
-2,411,736,598 |
-1,793,210,195 |
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-Changes in
Asset/ & Liability |
4,606,837,432 |
2,528,949,991 |
5,082,573,558 |
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Cash Flows
from Investing |
-10,517,271,492 |
-8,923,740,660 |
-2,046,224,072 |
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-Cash Inflow
from Investing |
7,133,155,342 |
4,005,137,363 |
2,237,757,339 |
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-Cash
Outflows for Investing |
-17,650,426,834 |
-12,928,878,023 |
-4,283,981,411 |
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Cash Flows
from Financing |
-3,925,666,620 |
7,939,492,310 |
421,777,810 |
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-Cash
Inflows from Financing |
76,644,045,000 |
74,894,700,000 |
56,896,154,560 |
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-Cash
Outflows from Financing |
-80,569,711,620 |
-66,955,207,690 |
-56,474,376,750 |
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Increase/Decrease
in Cash |
-2,812,191,326 |
2,873,484,577 |
3,337,921,098 |
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Cash at the
Beginning of Year |
7,596,333,155 |
4,722,848,578 |
1,384,927,480 |
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Cash at the End of Year |
4,784,141,829 |
7,596,333,155 |
4,722,848,578 |
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Main Products & Services |
Polyester Fabrics |
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Suppliers |
HUVIS CORPORATION(110111-2102070) |
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Competitors |
DO BEST CO., LTD. 105-112, GONGDEOK-DONG, MAPO-GU, TEL:+82-2-3271-3800 FAX:+82-2-3271-3899 DREAM SEEKERS INC. RM. 2410, MASTERS TOWER BLDG., 553,
DOHWA-DONG, MAPO-GU, TEL:+82-2-3275-5111~2 FAX:+82-2-3275-5113 HANWOO CORPORATION 4TH FL., 322-21, HAENGDANG 2-DONG,
SEONGDONG-GU, TEL:+82-2-2299-9100~8 FAX:+82-2-2299-9109 |
(Subsidiaries, Joint-Venture & Affiliates)
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Overseas Office |
UL HWA VIETNAM CO., LTD. (100.0% held by the subject company) |
|
Cooperative |
-Insured company MERITZ FIRE & MARINE INSURANCE CO., LTD.(110111-0013328) DONGBU INSURANCE CO., LTD.(110111-0095285) |
(Activity & Markets)
Not Available.
No.
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.16 |
|
|
1 |
Rs.81.79 |
|
Euro |
1 |
Rs.68.34 |
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 |
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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 |
|
<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.