MIRA INFORM REPORT

 

 

Report Date :

20.03.2012

 

IDENTIFICATION DETAILS

 

Name :

CHEM CORPORATION

 

 

Registered Office :

Suite 204-1203, Geoyeo 2 Danji Hyosung APT. 291, Geoyeo-dong, Songpa-gu, Seoul, Korea 138-902

 

 

Country :

South Korea

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Wholesales of Chemicals, Synthetic Resin and Other Plastic Materials

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Undetermined

Payment Behaviour :

Unknown

Litigation :

--

 

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 30, 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 Information

 

Company Name

CHEM CORPORATION

(Korean Company Name : “N/A”)

Registered Address

291, Geoyeo-dong, Songpa-gu, Seoul, Korea

Building

Suite 204-1203, Geoyeo 2 Danji Hyosung APT.

Zip Code

138-902

Tel

+82-70-7681-7382

Fax

+82-2- 404-3875

Trading Address

Suite 204-1203, Geoyeo 2 Danji Hyosung APT., 291, Geoyeo-dong, Songpa-gu, Seoul, Korea

Tel

+82-70-7681-7382

Fax

+82-2- 404-3875

Type

Export/Import

Industry

Wholesales of Chemicals, Synthetic Resin and Other Plastic Materials

  Main Business

Uncoated Polyester Film for Metallic Yarn

  Sub Business

 

Established (mm/dd/yyyy)

N/A

The region the subject is located is a residential apartment area, instead of commercial or industrial area.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Polyester films(13111210)

 

 

CEO’s

 

Name

N/A

Address

N/A

Date of Birth

N/A

Title

Owner

Sex

N/A

Nationality

N/A

 

 

Profiles

 

Capital (KRW)

Not Applicable to the Sole Proprietorship

Employees

N/A

Formation

Sole Proprietorship

Bank Details

N/A

Corporate Registered No.

Not Applicable to the Sole Proprietorship

Business Registered No.

N/A. (The numbers are kept by the National Tax Service confidentially.)

Because the subject’s full Business Registered No., for checking through the National Tax Service whether the subject is still existing or not, is not available, so we cannot confirm if the subject exist or not legally.)

Permit & Licenses

N/A

Shareholder Position

The owner has 100% shares.

Company History

N/A

In our research, we found that the subject’s name is “CHEM CORPORATION”, instead of “1 CHEM CORP.”

 

The premises(Building : 101.95m2, Land : 47,866m2/27,940.5m2)) at Suite 204-1203, Geoyeo 2 Danji Hyosung APT., 291, Geoyeo-dong, Songpa-gu, Seoul, Korea have been owned  by Mr. Lee Sang-Rok(DOB : 06/18/1965) since 10/25/2006.

It has been pledged as a collateral amounting 276,000,000 KRW under Gaerong Station Branch of Shinhan Bank(110111-0303183) as of 06/02/2006, 48,000,000 KRW as of 11/10/2006, 72,000,000 KRW as of 06/17/2009.

 

In our research through the official sources including the Supreme Court Registry at which every Co Ltd type of Company should be registered, we could not find the subject company under the subject company name. So we submit the report as a Sole Proprietorship Type of Company as long as the subject company exists.

 

Because the subject’s Business Registered No., for checking through the National tax Service whether the subject is still existing or not, is not available, so we cannot confirm if the subject exist or not legally.

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Owner

 

 

 

 

 

 

 

Financials

 

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)

Not Applicable to the Sole Proprietorship

Paid-Up Capital(KRW)

Not Applicable to the Sole Proprietorship

Total Issues Shares

Not Applicable to the Sole Proprietorship

 

 

Products, Technologies, Services Description

 

Technologies Acquired

Uncoated Polyester Film for Metallic Yarn

 

Trade Partners & Competitors

 

Customers

LOREX INDUSTRIES

Competitors

CHEMZONE, INC.

RM. 608, TOPS VENTURE TOWER, 1591-3, SEOCHO 3-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-3474-9294  FAX:+82-2-3474-9296

 

J.I.C. LIMITED

RM. 403, 607-214, BANGHWA 1-DONG, GANGSEO-GU, SEOUL, KOREA

TEL:+82-2-2666-0245  FAX:+82-2-2666-0645

 

MAN & BIZ CORP.

RM. 1014, JONGNO OFFICETEL, 58-1, NAKWON-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-3676-5888  FAX:+82-2-3676-0135

 

 

Sales by Region

(Activity & Markets)

 

The Subject deals with the companies in Pakistan and USA.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.12

UK Pound

1

Rs.79.37

Euro

1

Rs.66.00

 

 

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.