MIRA INFORM REPORT

 

 

Report Date :

20.06.2012

 

IDENTIFICATION DETAILS

 

Name :

BIT CO., LTD.

 

 

Registered Office :

67-12, Yongjam-dong, Nam-gu, Ulsan, Korea 680-070

 

 

Country :

South Korea

 

 

Financials (as on) :

31.12.2010

 

 

Date of Incorporation :

12.08.1988

 

 

Com. Reg. No.:

610-81-07717

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Disposal of Non-Hazardous Waste

 

 

No. of Employees :

17

 

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 :

Unknown

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

BIT CO., LTD.

(Ex. Company Name ; JO YANG INDUSTRIAL CO., LTD., “(주)조양산업”)

(Korean Company Name : “(주)비아이티”)

Registered Address

67-12, Yongjam-dong, Nam-gu, Ulsan, Korea

Zip Code

680-070

Tel

+82-52-265-0331~2

Fax

+82-52-276-0330

E-mail

Jy0331@ecojy.co.kr

Website

www.ecojy.co.kr

Trading Address

67-12, Yongjam-dong, Nam-gu, Ulsan, Korea

(New Address System : 583-87, Yongjam-ro, Nam-gu, Ulsan, Korea)

Tel

+82-52-265-0331~2

Fax

+82-52-276-0330

Type

Export/Import

Industry

Disposal of Non-Hazardous Waste

  Main Business

Disposal of Non-Hazardous Waste, Ocean Freight Services, Ship Repairing Services

Established (mm/dd/yyyy)

08/12/1988

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Recycling services(76121801)

 

 

CEO’s

 

Name

Hwang Jin-Wook

Address

Suite 101-1302, 734, Gulhwa-ri, Beomseo-eup, Ulju-gun, Ulsan, Korea

Date of Birth

02/24/1960

Title

President & CEO

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

1,350,000,000

Employees

17

Formation

Co., Ltd by Shares

Bank Details

Citibank, Korea-Ulsan Branch

Woori Bank

Corporate Registered No.

181211-0009718

Business Registered No.

610-81-07717

Permit & Licenses

Int’l Trade No.: 17002600

Shareholder Position

N/A

Company History

08/12/1988 Incorporated as JO YANG INDUSTRIAL CO., LTD.

08/23/2006 Moved to the present HQ addres from 22B-1L, Sunam Jigu, Seonam-dong, Nam-gu, Ulsan, Korea

02/14/2012 Changed company name to the present name

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Hwang Jin-Wook

Male

Korean

01/14/2010

Director

Mr.

Kim Kyu-Tae

Male

Korean

01/14/2010

Director

Mr.

Lee Hae-Sung

Male

Korean

01/14/2010

Auditor

Mr.

Kim Il-Joo

Male

Korean

01/14/2010

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

 

 

 

2010

 

 

 

2009

6,081,000,000

 

 

2008

5,856,000,000

 

 

2007

6,993,000,000

 

 

2006

4,797,000,000

 

 

2005

4,415,000,000

 

 

2004

4,147,000,000

 

 

2003

4,077,000,000

 

 

The latest 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)

3,600,000,000

Paid-Up Capital(KRW)

1,350,000,000

Total Issued Shares

135,000

 

 

Balance Sheet

 

Unit : Korean Won

As of 12/31/2011

As of 12/31/2010

As of 12/31/2009

Total Assets

 

7,151

5,122

Current Assets

 

4,485

2,367

-Quick Assets

 

4,463

2,343

-Inventories

 

22

24

Fixed Assets

 

2,666

2,755

-Investment

 

1,388

1,211

-Tangibles

 

1,020

1,280

-Intangibles

 

19

25

Total Liabilities

 

4,193

2,487

Current Liabilities

 

4,129

2,385

Fixed Liabilities

 

64

102

Capital Stock

 

1,350

1,350

Capital Surplus

 

 

 

Profit Surplus

 

1,609

1,286

Capital Adjustment

 

 

 

Total Equity

 

2,959

2,636

Liab. & Shareholder’s Equity

 

7,151

5,122

 

 

Income Statement

 

Unit : Korean Won

As of 12/31/2011

As of 12/31/2010

As of 12/31/2009

Sales

 

6,081

5,856

Cost of Sold Goods

 

4,730

4,380

Gross Profit

 

1,350

1,476

Selling & Admin. Expenses

 

1,188

1,282

Operating Income

 

162

194

Non-Operating Income

 

188

275

Non-Operating Expenses

 

4

214

Income Before Taxes

 

346

255

Income Taxes Expenses

 

23

42

Net Income

 

323

213

 

 

Products, Technologies, Services Description

 

Main Products & Services

Disposal of Non-Hazardous Waste, Ocean Freight Services, Ship Repairing Services

 

Trade Partners & Competitors

 

Competitors

WOORI MATERIALS RECYCLING CO., LTD.

848, SONGDONG-RI, DAESONG-MYEON, NAM-GU, POHANG-SI, GYEONGSANGBUK-DO, KOREA

TEL:+82-54-278-8591  FAX:+82-54-278-8594

 

SEJONG MAJOR INTERNATIONAL CO., LTD.

RM. 424, DREAM CITY, 3-2, SONGDO-DONG, YEONSU-GU, INCHEON, KOREA

TEL:+82-32-851-8858  FAX:+82-32-851-8868

 

B.A MATERIALS, INC.

RM. 103, MS-VILLE, 629-87, YONGHYEON 5-DONG, NAM-GU, INCHEON, KOREA

TEL:+82-32-889-9223  FAX:+82-32-889-9225

 

 

Related Parties

(Subsidiaries, Joint-Venture & Affiliates)

 

Affiliates

SUNYANG CO., LTD.(181211-0024899)

 

 

Sales by Region

 (Activity & Markets)

 

Not Available.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.56.01

UK Pound

1

Rs.87.85

Euro

1

Rs.70.54

 

 

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.