MIRA INFORM REPORT

 

 

Report Date :

13.07.2012

 

IDENTIFICATION DETAILS

 

Name :

SUNGJIN ENT CO., LTD.

 

 

Registered Office :

1102-6, Hwagok 6-dong, Gangseo-gu, Seoul, Korea 157-916

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

16.08.2001

 

 

Com. Reg. No.:

105-86-29271

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Leather Garments

 

 

No. of Employees :

30

 

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, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 Information

 

Company Name

SUNGJIN ENT CO., LTD.

(Korean Company Name : “(주)성진이엔티”)

Registered Address

1102-6, Hwagok 6-dong, Gangseo-gu, Seoul, Korea

Zip Code

157-916

Tel

+82-2-333-7783

Fax

+82-2-324-6714

Trading Address

1102-6, Hwagok 6-dong, Gangseo-gu, Seoul, Korea

Tel

+82-2-333-7783

Fax

+82-2-324-6714

Type

Export/Import

Industry

Manufacture of Leather Garments

  Main Business

Leather Garments

Established (mm/dd/yyyy)

08/16/2001

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Dresses and skirts and saris and kimonos(53102000)

Sell

Slacks and trousers and shorts(53101500)

Sell

Coats and jackets(53101800)

Buy

Box(24112404)

Buy

Buttons(53141505)

Buy

Labels(55121600)

Buy

Tags(55121500)

Buy

Sewing fasteners(53141500)

Buy

Cow leather(11162305)

 

 

CEO’s

 

Name

Lee Won-Ho

Address

Suite 412-2301, 1655, Sangam-dong, Mapo-gu, Seoul, Korea

Date of Birth

01/09/1959

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

100,000,000

Employees

30

Formation

Co., Ltd by Shares

Bank Details

Hana Bank-Donggyo Dong Branch

Corporate Registered No.

110111-2309212

Business Registered No.

105-86-29271

Permit & Licenses

Int’l Trade No.: 11622330

Shareholder Position

N/A

Company History

01/1995 Established as SUNGJIN ENTERPRISE CO.

08/16/2001 Incorporated as the present name

05/11/2010 Moved to the present HQ address from 481-11, Yeonnam-dong, Mapo-gu, Seoul, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Lee Won-Ho

Male

Korean

03/12/2007

Director

Mr.

Lee Won-Seok

Male

Korean

03/12/2004

Auditor

Mr.

Lee Sung-Bae

Male

Korean

03/12/2004

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

 

 

 

2010

6,362,000,000

4,045,000,000

187,000,000

2009

5,091,000,000

4,394,000,000

177,000,000

2008

2,561,000,000

2,458,000,000

34,000,000

2007

3,208,000,000

2,900,000,000

49,000,000

2006

 

 

 

2005

 

 

 

2004

 

 

 

2003

 

 

 

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)

400,000,000

Paid-Up Capital(KRW)

100,000,000

Total Issued Shares

20,000

 

 

Balance Sheet

 

Unit : Million Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Total Assets

4,045

4,394

2,458

Current Assets

3,072

3,701

1,748

-Quick Assets

 

 

 

-Inventories

 

 

 

Fixed Assets

973

693

710

-Investment

 

 

 

-Tangibles

 

 

 

-Intangibles

 

 

 

Total Liabilities

 

 

 

Current Liabilities

3,066

3,605

1,845

Fixed Liabilities

 

 

 

Capital Stock

100

100

100

Capital Surplus

 

 

 

Profit Surplus

 

 

 

Capital Adjustment

 

 

 

Total Equity

976

789

612

Liab. & Shareholder’s Equity

4,045

4,394

2,458

 

 

Income Statement

 

Unit : Million Korean Won

As of 12/31/2010

As of 12/31/2009

As of 12/31/2008

Sales

6,362

5,091

2,561

Cost of Sold Goods

5,655

4,601

2,126

Gross Profit

707

490

435

Selling & Admin. Expenses

649

428

359

Operating Income

58

62

76

Non-Operating Income

186

173

76

Non-Operating Expenses

38

39

113

Income Before Taxes

206

196

39

Income Taxes Expenses

19

19

5

Net Income

187

177

34

 

 

Products, Technologies, Services Description

 

Main Products & Services

Leather Garments

 

 

Trade Partners & Competitors

 

Competitors

PIWON CO., LTD.

542, DONGDUCHEON-DONG, DONGDUCHEON-SI, GYEONGGI-DO, KOREA

TEL:+82-31-867-8670  FAX:+82-31-866-8670

 

BUMYANG LEATHER TECH CO., LTD.

27-5, CHOSEONG-RI, CHEONGSAN-MYEON, YEONCHEON-GUN, GYEONGGI-DO, KOREA

TEL:+82-31-835-6177  FAX:+82-31-835-6252

 

DSI COMPANY LTD.

617-1, SEONGGOK-DONG, DANWON-GU, ANSAN-SI, GYEONGGI-DO, KOREA

TEL:+82-31-491-9421  FAX:+82-31-491-0387

 

 

Sales by Region

 (Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.70

UK Pound

1

Rs.86.28

Euro

1

Rs.68.15

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.