MIRA INFORM REPORT

 

 

Report Date :

26.03.2012

 

IDENTIFICATION DETAILS

 

Name :

TAEGANG IND. CO., LTD.

 

 

Registered Office :

837-26, Yeoksam 1-dong, Gangnam-gu

 

 

Country :

South Korea

 

 

Date of Incorporation :

09.08.1982

 

 

Com. Reg. No.:

220-81-21078

 

 

Legal Form :

Co., Ltd by shares

 

 

Line of Business :

Wholesale of Dyes, Pigments and Related Products

 

 

No. of Employees :

1

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

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 – 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

 

Company Name

TAEGANG IND. CO., LTD.

(Korean Company Name : “(주)태강실업”)

Registered Address

837-26, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea

Building

Rm. 701, Samil Plaza Officetel

Zip Code

135-768

Tel

+82-2-556-8882

Fax

+82-2-552-8343

E-mail

taeggkor@kornet.net

Trading Address

Rm. 701, Samil Plaza Officetel, 837-26, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea

Tel

+82-2-556-8882

Fax

+82-2-552-8343

Type

Export

Industry

Wholesale of Dyes, Pigments and Related Products

  Main Business

Titanium Dioxide, Ferrous Sulphate, Pentaerythritol, Sodium Formate

  Sub Business

Wholesale of Other Chemical Materials and Chemical Products

Established (mm/dd/yyyy)

08/09/1982

Mr. Kim Jung-Suk, Representative Director, owns the premises of registered HQ address.

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Titanium dioxide(12171604)

Sell

Ferrous sulfate(51131503)

Sell

Inorganic metal salts(12352302)

 

 

CEO’s

 

Name

Kim Jung-Suk

Address

Suite 822, 1338-1, Seocho-dong, Seocho-gu, Seoul, Korea

Date of Birth

01/25/1946

Title

Representative Director

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

50,000,000

Employees

1

Formation

Co., Ltd by shares

Bank Details

Industrial Bank of Korea-Samseong Dong Branch

Corporate Registered No.

110111-0324741

Business Registered No.

220-81-21078

Permit & Licenses

Int’l Trade No.: 950167

Shareholder Position

Name

Shares

%

KIM JUNG-SUK

7,050

70.50

YANG YOUNG-JA

2,450

24.50

KIM KYUNG-AH

500

5.00

TOTAL

10,000

100.00

Company History

08/09/1982 Incorporated as the present name

09/27/1993 Moved to the present HQ address

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Kim Jung-Suk

Male

Korean

12/02/1998

Auditor

M/S.

Jang Eun-Jin

Female

Korean

03/27/2007

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2010

 

 

 

2009

 

 

 

2008

 

 

 

2007

 

 

 

2006

 

 

 

2005

 

 

 

2004

3,082,000,000

375,000,000

95,000,000

2003

3,535,000,000

220,000,000

101,000,000

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)

60,000,000

Paid-Up Capital(KRW)

50,000,000

Total Issues Shares

10,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Titanium Dioxide KA-100 Anatase (normal grade)

Titanium Dioxide KA-300 Textile fiber grade

Penta erythritol 95% or 98%

Nitro Cellulose

Spin finish oil

Gas cylinder for chair and all types of gas spindle

Health clean bidet (electric or mechemical type)

Golf bag builted in carter

PVC flooring

All kind of special paints

 

 

Trade Partners & Competitors

 

Competitors

COSMO CHEMICAL CO., LTD.

1534-5, SEOCHO 3-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-32-451-6100  FAX:+82-32-451-6119

 

WE INTERNATIONAL CO., LTD.

RM. 1402, BYEOKSAN GWANGHWAMUN SIDAE OFFICETEL, 74, NAESU-DONG, JONGNO-GU, SEOUL, KOREA

TEL:+82-2-2195-4281~3  FAX:+82-2-2185-4280

 

NANO CO., LTD.

1108-1, BONGGOK-RI, SABONG-MYEON, JINJU-SI, GYEONGSANGNAM-DO, KOREA

TEL:+82-55-762-8887  FAX:+82-55-755-6755

 

 

Sales by Region (Activity & Markets)

 

The Subject exports to Bangladesh, Sri Lanka, China, India, Malaysia, Pakistan and Thailand.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.90

UK Pound

1

Rs.80.77

Euro

1

Rs.67.40

 

 

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.