MIRA INFORM REPORT
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Report Date : |
31.03.2012 |
IDENTIFICATION DETAILS
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Name : |
LEEM PRODUCTS CO., LTD. |
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Formerly Known As : |
LEEM PRODUCTS CO. |
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Registered Office : |
688-14, Gojan-dong, Namdong-gu, Incheon, Korea, 118B-6L, Namdong
Industrial Complex 2-danji, Zip Code 405-820 |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
14.12.1988 |
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Com. Reg. No.: |
139-81-00326 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Manufacture of Other Sound Equipment |
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No. of Employees
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22 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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a1 |
a1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
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Company
Name |
LEEM PRODUCTS
CO., LTD. (Korean company
Name : “(주)임산업”) |
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Registered Address |
688-14, Gojan-dong, Namdong-gu, |
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Building |
118B-6L, Namdong Industrial Complex 2-danji |
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Zip Code |
405-820 |
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Tel |
+82-32-816-7100~6 |
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Fax |
+82-32-816-7108~9 |
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E-mail |
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Website |
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Trading Address |
118B-6L, Namdong Industrial Complex
2-danji, 688-14, Gojan-dong, Namdong-gu, (New Address System : 118B-6L, 595,
Nunghur Daero, Namdong-gu, |
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Tel |
+82-32-816-7100~6 |
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Fax |
+82-32-816-7108~9 |
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Other Address-Factory Ⅱ |
141B-11L, Namdong Industrial Complex,
720-11, Gojan-dong, Namdong-gu, |
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Tel |
+82-32-816-7100 |
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Fax |
+82-32-816-7108 |
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Type |
Export |
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Industry |
Manufacture of Other Sound Equipment |
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Main Business |
Amplifiers, Audio Mixers, Speakers, Microphones, Stage Cable, Sequence
Power, Console Mixer, Power Amplifier, Powered Mixer, Out Board, Di Box,
Portable Amp, Multi Amp, Guitar Amp, Bass Amp, Uhf Wireless, Vhf Wireless,
Mired Mic, Mic Accessory, Mix Cable, Multi Roll Cable, Speaker Cable, Digital
Multi Cable, Connectors, Microphone Stand, Music Stand, Bracker, ABS Rack
Case, Hard Rack Case |
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Established (mm/dd/yyyy) |
12/14/1988 |
The Subject owns
the premises of registered HQ address.
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Audio and visual equipment(52161500) |
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Sell |
Accessories for stringed instruments(60131506) |
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Sell |
Microphones(52161520) |
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Sell |
Musical instrument parts and accessories(60131500) |
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Sell |
Loudspeakers(52161512) |
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Sell |
Headphone jack adapters(52161604) |
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Name |
Leem Ick-Chan |
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Address |
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Date of Birth |
12/04/1950 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
150,000,000 |
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Employees |
22 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Korea Exchange Bank-Namdong Industrial
Complex Branch |
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Corporate Registered No. |
110111-0600688 |
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Business Registered No. |
139-81-00326 |
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Permit & Licenses |
10/1994 CE Mark (TUV) 2005 ISO 9001 Int’l Trade No.: 982197 |
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Shareholder Position |
(*) This list is based as of 12/31/2008. |
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Company History |
11/10/1981 Established as LEEM PRODUCTS CO. 12/14/1988 Incorporated as
the present name 07/08/2008 Increased capital to 150,000,000
KRW from 100,000,000 KRW |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Leem Ick-Chan |
Male |
Korean |
07/14/1998 |
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Director |
Mr. |
Leem Ick-Cheol |
Male |
Korean |
07/14/1998 |
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Director |
Mr. |
Leem Moo-Sung |
Male |
Korean |
07/14/1998 |
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Director |
Mr. |
Leem Ick-Kwon |
Male |
Korean |
12/23/1998 |
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Auditor |
M/S. |
Shin Myung-Hae |
Female |
Korean |
03/14/2000 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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2009 |
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2008 |
9,327,534,222 |
9,860,406,499 |
(-)247,102,790 |
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2007 |
8,664,433,292 |
10,366,752,504 |
540,177,985 |
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2006 |
9,325,064,420 |
9,320,438,369 |
360,094,880 |
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2005 |
10,461,269,770 |
9,804,305,219 |
454,190,757 |
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2004 |
10,295,187,805 |
10,685,165,191 |
364,981,976 |
The latest financials are not available, and the Subject Company does not
have any obligations to release its financials to the public.
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Authorized Capital(KRW) |
200,000,000 |
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Paid-Up Capital(KRW) |
150,000,000 |
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Total Issued Shares |
30,000 |
Balance
Sheet
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Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
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Total Assets |
9,860,406,499 |
10,366,752,504 |
9,320,438,369 |
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Current Assets |
4,424,789,536 |
5,695,688,546 |
4,819,291,576 |
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-Quick Assets |
3,343,001,282 |
4,739,567,610 |
4,087,149,838 |
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-Inventories |
1,081,788,254 |
956,120,936 |
732,141,738 |
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Fixed Assets |
5,435,616,963 |
4,671,063,958 |
4,501,146,793 |
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-Investment |
1,779,067,612 |
869,380,836 |
597,290,755 |
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-Tangibles |
3,544,912,291 |
3,605,046,062 |
3,707,218,978 |
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-Intangibles |
111,637,060 |
196,637,060 |
196,637,060 |
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Total Liabilities |
3,113,015,711 |
2,632,827,995 |
2,179,139,572 |
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Current Liabilities |
2,403,423,223 |
2,233,083,385 |
1,748,372,466 |
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Fixed Liabilities |
709,592,488 |
399,744,610 |
430,767,106 |
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Capital Stock |
150,000,000 |
100,000,000 |
100,000,000 |
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Capital Surplus |
- |
- |
- |
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Profit Surplus |
7,329,463,069 |
7,576,565,859 |
7,036,387,874 |
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Capital Adjustment |
(-)732,072,281 |
57,358,650 |
4,910,923 |
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Total Equity |
6,747,390,788 |
7,733,924,509 |
7,141,298,797 |
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Liab. & Shareholder’s Equity |
9,860,406,499 |
10,366,752,504 |
9,320,438,369 |
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Current
Liabilities |
2,403,423,223 |
2,233,083,385 |
1,748,372,466 |
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Trade Payables |
425,321,387 |
673,539,021 |
560,596,862 |
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Short-Term Borrowings |
1,765,005,688 |
1,285,203,696 |
865,524,901 |
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Account Payables |
88,057,914 |
93,796,651 |
220,845,263 |
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Advance Receipts |
95,105,531 |
40,533,734 |
68,293,171 |
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Withholdings |
10,149,910 |
10,282,660 |
9,793,650 |
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Accrued Income Tax |
- |
16,718,850 |
15,584,280 |
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Accrued Expenses |
3,935,580 |
1,786,688 |
1,922,263 |
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VAT Withhold |
15,847,213 |
26,222,085 |
5,812,076 |
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Short-Term Borrowings to
Shareholders/ Executives/ Employees |
- |
85,000,000 |
- |
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Fixed
Liabilities |
709,592,488 |
399,744,610 |
430,767,106 |
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Long-Term Borrowings |
300,000,000 |
- |
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Leasehold Deposit Received |
192,500,000 |
187,500,000 |
232,500,000 |
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Provision for Severance &
Retirement |
234,629,999 |
228,619,373 |
214,831,359 |
Income
Statement
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Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
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Sales |
9,327,534,222 |
8,664,433,292 |
9,325,064,420 |
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Cost of Sold Goods |
7,355,346,474 |
6,935,156,275 |
7,510,124,743 |
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Gross Profit |
1,972,187,748 |
1,729,277,017 |
1,814,939,677 |
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Selling & Admin. Expenses |
1,716,706,514 |
1,481,128,491 |
1,458,609,913 |
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Operating Income |
255,481,234 |
248,148,526 |
356,329,764 |
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Non-Operating Income |
418,831,363 |
543,967,097 |
405,900,115 |
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Non-Operating Expenses |
920,438,677 |
192,029,358 |
309,006,709 |
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Income Before Taxes |
(-)246,126,080 |
600,086,265 |
453,223,170 |
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Income Taxes Expenses |
976,710 |
59,908,280 |
93,128,290 |
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Net Income |
(-)247,102,790 |
540,177,985 |
360,094,880 |
Cash
Flows
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Unit : Korean Won |
As of 12/31/2008 |
As of 12/31/2007 |
As of 12/31/2006 |
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Cash Flows from Operating |
(-)286,712,438 |
(-)655,609,085 |
(-)133,306,491 |
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-Net Income |
(-)247,102,790 |
540,177,985 |
360,094,880 |
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-Exp. without Cash Outflow |
745,897,285 |
268,801,010 |
183,801,907 |
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-Revenue without Cash Inflows |
(-)11,380,100 |
(-)377,573,219 |
(-)172,645,841 |
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-Changes in Asset/ & Liability |
(-)774,126,833 |
(-)1,087,014,861 |
(-)504,557,437 |
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Cash Flows from Investing |
164,008,466 |
189,092,878 |
440,083,067 |
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-Cash Inflow from Investing |
993,804,364 |
530,540,766 |
715,832,418 |
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-Cash Outflows for Investing |
(-)829,795,898 |
(-)341,447,888 |
(-)275,749,351 |
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Cash Flows from Financing |
534,637,702 |
423,799,500 |
(-)520,977,864 |
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-Cash Inflows from Financing |
961,578,000 |
423,799,500 |
842,681,049 |
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-Cash Outflows from Financing |
(-)426,940,298 |
- |
(-)1,363,658,913 |
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Increase/Decrease in Cash |
411,933,730 |
(-)42,716,707 |
(-)214,201,288 |
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Cash at the Beginning of Year |
179,437,806 |
222,154,513 |
436,355,801 |
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Cash at the End of Year |
591,371,536 |
179,437,806 |
222,154,513 |
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Main Products & Services |
Sequence Power Console Mixer Power Amplifier Powered Mixer Speaker Powered Speaker Portable Speaker Out Borad Wired Mic Mic Accessories Uhf Wireless Vhf Wireless Multi Amp Digital Multi Cable Mic Cable Brand Name : HOT LINE, POWER TECH, LEEM |
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Suppliers |
CRAAFT AUDIO CMBH( DB TECHNOLOGY( CAD( SOUND SORPRATION GROUP( SEED GROUP( |
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Competitors |
BEST SOUND ELECTRONICS CO., LTD. 58B-4L, NAMDONG INDUSTRIAL COMPLEX, 626-3,
GOJAN-DONG, NAMDONG-GU, TEL:+82-32-500-1700~7 FAX:+82-32-554-6205~6 INTER M CORPORATION 226-9, DEOKJEONG-DONG, YANGJU-SI, TEL:+82-31-860-7111~8 FAX:+82-31-858-1905 BLUECOM CO., LTD. 11-80, SONGDO-DONG, YEONSU-GU, TEL:+82-32-810-0500 FAX:+82-32-810-0600 |
(Subsidiaries, Joint-Venture & Affiliates)
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Affiliates |
SANGJU LEEM SOUND CO., LTD.( (70.0% held by the subject company) (100.0% held by the subject company) |
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Overseas Office |
NO. 311 STANDARD WORKSHOP, |
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Cooperative |
-Technical Support from MCCANNON( -Insured company DONGBU INSURANCE CO., LTD.(110111-0095285) SAMSUNG FIRE & MARINE INSURANCE CO., LTD.(110111-0005078) |
(Activity & Markets)
The Subject exports
to
Not Available.
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.51.16 |
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|
1 |
Rs.81.72 |
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Euro |
1 |
Rs.68.34 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.