MIRA INFORM REPORT

 

 

Report Date :

30.07.2012

 

IDENTIFICATION DETAILS

 

Name :

BORAM LOGISTICS CO., LTD.

 

 

Formerly Known As :

BORAM SHIIPING CO., LTD.

 

 

Registered Office :

146-7, Ssangnim-dong, Jung-gu, Seoul, Korea, Zip Code 100-400

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2011

 

 

Date of Incorporation :

20.07.1993

 

 

Com. Reg. No.:

203-81-52936

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Total Freight Forwarding Services

 

 

No. of Employees :

16

 

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

 

Company Name

BORAM LOGISTICS CO., LTD.

(Korean Company Name : “(주)보람로지스틱스”)

Registered Address

146-7, Ssangnim-dong, Jung-gu, Seoul, Korea

Zip Code

100-400

Tel

+82-2-2269-2796

Fax

+82-2-2264-3589.

E-mail

boram-info@boramship.com

Website

www.boramlst.com

Trading Address

146-7, Ssangnim-dong, Jung-gu, Seoul, Korea

Tel

+82-2-2269-2796

Fax

+82-2-2264-3589.

Type

Export/Import

Industry

Freight Transport Brokerage, Agency and Other Supporting Transport Services

Ocean Freight Brokerage Services,, Warehousing Services, Land Transportation Services

  Main Business

Total Freight Forwarding Services

Established (mm/dd/yyyy)

07/20/1993

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Transport arrangements(78141500)

Sell

Air cargo transport(78101500)

Sell

Marine cargo transport(78101700)

 

 

CEO’s

 

Name

Lee Ki-Joon

Address

520-32, Mugap-ri, Chowol-eup, Gwangju-si, Gyeonggi-do, Korea

Date of Birth

08/17/1958

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

500,000,000

Employees

16

Formation

Co., Ltd by Shares

Bank Details

Woori Bank-Ojang Dong Branch

Corporate Registered No.

1101110-959522

Business Registered No.

203-81-52936

Permit & Licenses

Int’l Trade No.: 11078218

Shareholder Position

Name

Shares

%

LEE KI-JOON

43,000

86.00

LEE KWANG-JOONG

7,000

14.00

TOTAL

50,000

100.00

Company History

07/20/1993 Incorporated as BORAM SHIIPING CO., LTD.

08/26/1999 Moved to the present HQ address from 303-1, Gwanghui-dong 1-ga, Jung-gu, Seoul, Korea

08/14/2008 Changed company name to the present name

09/12/2008 Increased capital to 500,000,000 KRW from 300,000,00 KRW

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Lee Ki-Joon

Male

Korean

07/20/1993

Director

M/S.

Ha In-Sook

Female

Korean

09/10/2008

Director

Mr.

Ha In-Cheol

Male

Korean

09/10/2011

Auditor

Mr.

Lee Kwang-Joong

Male

Korean

09/22/2005

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

   5,710,000,000

   1,660,000,000

    45,000,000

2010

   5,674,000,000

1,579,000,000  　

    42,000,000

2009

   5,734,000,000

1,734,000,000  　

  124,000,000

2008

   7,465,000,000

　

  119,000,000

 

 

Financial Description

 

Authorized Capital(KRW)

800,000,000

Paid-Up Capital(KRW)

500,000,000

Total Issues Shares

50,000

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2011

As of 12/31/2010

As of 12/31/2009

Total Assets

1,660,000,000

1,579,000,000

1,734,000,000

Current Assets

　

　

　

-Quick Assets

　

　

　

-Inventories

　

　

　

Fixed Assets

　

　

　

-Investment

　

　

　

-Tangibles

　

　

　

-Intangibles

　

　

　

Total Liabilities

780,000,000

744,000,000

942,000,000

Current Liabilities

　

　

　

Fixed Liabilities

　

　

　

Capital Stock

　

　

　

Capital Surplus

　

　

　

Profit Surplus

　

　

　

Capital Adjustment

　

　

　

Total Equity

880,000,000

835,000,000

792,000,000

Liab. & Shareholder’s Equity

1,660,000,000

1,734,000,000

1,734,000,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Freight Transport Brokerage, Agency and Other Supporting Transport Services

Ocean Freight Brokerage Services,, Warehousing Services, Land Transportation Services

 

 

Trade Partners & Competitors

 

Customers

ILJIN ELECTRIC CO., LTD.(134811-0159279)

POSCO(174611-0000741)

CHOIL ALUMINUM CO., LTD.(170111-0021543)

Competitors

YOUNG CHEON LOGISTICS CO., LTD.

4TH FL., YEONGCHEON BLDG., 33-2, GONGHANG-DONG, GANGSEO-GU, SEOUL, KOREA

TEL:+82-2-3663-9009 FAX:+82-2-3665-3004

 

AGILITY LTD.

2ND FL., YEOLRIN BLDG., 1666-3, SEOCHO 1-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-539-9411  FAX:+82-2-539-2071

 

AIRSTAR INTERNATIONAL CO., LTD.

2ND FL., SEOYEONG BLDG., 367-9, SEOGYO-DONG, MAPO-GU, SEOUL, KOREA

TEL:+82-2-333-3933  FAX:+82-2-323-5700

 

Sales by Region

(Activity & Markets)

 

The Subject deals with the companies in Japan, China and India.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.41

UK Pound

1

Rs.86.93

Euro

1

Rs.68.10

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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.