MIRA INFORM REPORT

 

 

Report Date :           

28.02.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

BANDO PRECISION MACHINERY CO.

 

 

Registered Office :

879-2, Chimsan 1-dong, Buk-gu, Daegu, Korea, Zip Code 702-872

 

 

Country :

South Korea

 

 

Date of Incorporation :

08.02.1979

 

 

Com. Reg. No.:

504-06-86098

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Manufacture of Sewing Machines

 

 

No. of Employees :

01

 

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 :

Small Concern

 

 

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 – September 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

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

BANDO PRECISION MACHINERY CO.

(Korean Company Name : “반도정밀기계”)

Registered Address

879-2, Chimsan 1-dong, Buk-gu, Daegu, Korea

Zip Code

702-872

Tel

+82-53-359-2838

Fax

+82-53-359-2839

E-mail

master@bdmac.co.kr

Website

www.bdmac.co.kr

Trading Address

879-2, Chimsan 1-dong, Buk-gu, Daegu, Korea

Tel

+82-53-359-2838

Fax

+82-53-359-2839

Type

Export/Import

Industry

Manufacture of Sewing Machines

  Main Business

Automatic Towel Cross Hemming Machine, Automatic Longitudinal Hemming Machine, Automatic Slitting Machine, Automatic Cutting Machine for terry Towel

Established (mm/dd/yyyy)

02/08/1979

Mr. Lee Bang-Boo owns the premises of registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Sewing machines(23121614)

Sell

Cutting machines(23101508)

Sell

Paper cutting machines or accessories(44101601)

Sell

Textile processing machinery and accessories(23121500)

Buy

Tape(31201500)

Buy

Aluminum(11101705)

Buy

Packaging boxes(24121503)

Buy

Iron plate(30102203)

Buy

Non metallic pails(24112205)

 

 

CEO’s

 

Name

Lee Bang-Boo

Title

Owner

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

Not Applicable to the Sole Proprietorship

Employees

1

Formation

Sole Proprietorship

Bank Details

N/A

Corporate Registered No.

Not Applicable to the Sole Proprietorship

Business Registered No.

504-06-86098

Permit & Licenses

N/A

Shareholder Position

The owner has 100% shares.

Company History

02/08/1979 Established as Lee Towel Engineering Co., Ltd.

02~10/1979 Developed These Machines As Follows :

- The Automatic Slitting Machine For Multiple Width Fabric

- The Automatic Cutting Machine For Piece Fabric

- The Automatic Longitudinal Hemming Machine

02/1980 Changed The Company Name To Bando Precision Machinery Co., Ltd.

05/1982 Developed The Automatic Sewing System For Blanket.

(The Automatic Slitting, Cutting And Hemming Machines)

03/1985 Developed The Automatic Sewing System For Bed Sheet.

(The Automatic Cutting And Hemming Machines)

10/1987 Developed The Automatic Cross Cutting & Hemming Machine For Piece Fabric.

04/1990 Developed Automatic Hemming Machine For Multiple Bag.

(For Chemical Resin Bag, Cement Bag, Corn Bag)

06/1994 Developed The Automatic Cutting Machine Of Wool Pack.

03/1995 Developed The Automatic Grinding & Polishing Machine.

12/1998 Developed The Automatic Sewing Machine For Wool Pack.

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Owner

Mr.

Lee Bang-Boo

Male

Korean

02/08/1979

 

 

Financial Description

 

Authorized Capital(KRW)

Not Applicable to the Sole Proprietorship

Paid-Up Capital(KRW)

Not Applicable to the Sole Proprietorship

Total Issued Shares

Not Applicable to the Sole Proprietorship

 

Products, Technologies, Services Description

 

Main Products & Services

Automatic Towel Cross Hemming Machine

This machine is a fully automatic high-speed towel hemming and sewing machine. It has production capacity of 45 dizens per hour. Its performance has been drastically improved with quietness and beautiful finish.

This is the towel hemming machine for face towels which promises high-quality, homogeneous hem processing through the stable performance and productivity attained by the continuous works from cutting, hem folding, labeling and sewing.

 

Automatic Longitudinal Hemming Machine

The Automatic Longitudinal Hemming Machine is equipped with two sewing machines, one on the right and one the left side, for the longitudinal hemming of towels, table linen, sheets, scarf, blanket, and similar products.

 

Automatic Slitting Machine

Automatic controlled fabric alignment device in connection with photoelectronic fabric guide. Number of cutting devices depend on numbers of textile width to be cut.

All cutters steer themselves autonomously and independently from each other. Photoelectronically controlled central cutters motion. Marking line tolerances caused by finishing or printing are manually be regulated all during being in process.

Variable electroic speed gearing be regulated from 5m/min up to about 50m/min, depending of fabric quality and numbers of fabric widths.

 

Automatic Cutting Machine for terry Towel

The cutter for towels is a very versatile and precise machine. It is equipped with systems for the straightening of the towel before it is cut. Fabric will be aligned with in the smooth fabric according to terry loops and will be cut automatically in its center.

Length weaving faults and butt end sewings are electronically controlled and can be cut out in the cutter.

One operator can operate up to 2 or 3 cutters. Cutting performance depends on length of fabric, towel sizes, numbers of weaving faults, numbers of butt end sewings, etc.

 

 

Trade Partners & Competitors

 

Competitors

SUNSTAR PRECISION CO., LTD.

178-67, GAJWA 1-DONG, SEO-GU, INCHEON, KOREA

TEL:+82-32-580-5800  FAX:+82-32-571-4546

 

UNICORN INDUSTRIAL SEWING MACHINE CORP.

BROTHER BLDG., 233-8, YONGDAP-DONG, SEONGDONG-GU, SEOUL, KOREA

TEL:+82-2-3444-9289  FAX:+82-2-3446-2773

 

WONCHANG MACHINERY CO., LTD.

1029, DAECHEON-DONG, DALSEO-GU, DAEGU, KOREA

TEL:+82-53-582-1911  FAX:+82-53-582-1915

 

 

Sales by Region

(Activity & Markets)

 

The Subject deals with the companies in China, India, Pakistan, Philippines and Vietnam.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.05

UK Pound

1

Rs.77.78

Euro

1

Rs.65.89

 

 

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.