MIRA INFORM REPORT
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Report Date : |
31.03.2012 |
IDENTIFICATION DETAILS
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Name : |
PUBLIC PROCUREMENT SERVICE |
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Registered Office : |
920, Dunsan-dong, Seo-gu, |
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Country : |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
17.01.1949 |
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Legal Form : |
Government Entity |
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Line of Business : |
Government Entity of Procurement Services |
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No. of Employees
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1,590 |
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RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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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 |
PUBLIC PROCUREMENT SERVICE (Trade Name : PPS) (Korean Name : “조달청”) |
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Registered Address |
920, Dunsan-dong, Seo-gu, (New Address System : 189, Chungsa-ro, Seo-gu, |
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Zip Code |
302-120 |
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Tel |
+82-42- 481-4114 |
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Fax |
+82-42-472-2297 |
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E-mail |
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Website |
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Trading Address |
920, Dunsan-dong, Seo-gu, |
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Tel |
+82-1588-0800 |
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Fax |
+82-42-472-2247 |
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Other Address-Quality Management Div. |
855, Dongcheon-dong,
Suji-gu, Yongin-si, |
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Tel |
+82-31-260-8631∼8648 |
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Other Address-Seoul Branch |
520-3, Banpo-dong, Seocho-gu,
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Tel |
+82-2-590-8811 |
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Other Address-Busan
Branch |
1010-6, Geumgok-dong,
Buk-gu, |
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Tel |
+82-51-330-6551 |
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Other Address-Gyeongsangnam
Branch |
201, Sinwol-dong,
Uichang-gu, Changwon-si, |
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Tel |
+82-55-239-6731 |
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Other Address-Chungbuk
Branch |
417, Bokdae-dong, Heungdeok-gu,
Cheongju-si, |
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Tel |
+82-43-230-7731 |
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Other Address-Jeonbuk
Branch |
1533, Inhu-dong
2-ga, Deokjin-gu, Jeonju-si,
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Tel |
+82-63-240-6526 |
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Other Address-Jeju
Branch |
662, Donam-dong, Jeju-si,
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Tel |
+82-64-728-5703~5708 |
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Type |
Export/Import |
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Industry |
Government Entity of Procurement Services |
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Established (mm/dd/yyyy) |
01/17/1949 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Procurement Services |
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Name |
Choi Kyu-Yun |
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Date of Birth |
01/02/1956 |
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Title |
Administrator |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
Not Applicable to
the Government Entity |
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Employees |
1,590 |
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Formation |
Government Entity |
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Bank Details |
N/A |
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Corporate Registered No. |
Not Applicable to the Government Entity |
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Business Registered No. |
Not Applicable to the Government Entity |
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Permit & Licenses |
N/A |
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Shareholder Position |
The |
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Company History |
On January 17th, 1949 when the Korean
government was established, PPS as a central procuring agency for the The POFS was consolidated with the Office
of Foreign Procurement, and was hereafter renamed as the Office of Foreign
Supply. On October 2, 1961, it was expanded to include domestic procurement
and works contract in its capacity, becoming a central procuring agency.
Since then, it has procured enormous amounts of goods necessary for
implementing the government's economic development programs without
impediments. It has also fulfilled the use of limited financial resources in
an efficient manner. Indeed, it has done a superb job of laying the
administrative infrastructure, which was the driving force of In 1967, PPS added a new function of
stabilizing supply and demand, and prices for major foreign raw materials and
basic necessities. With these functions in place, PPS was able to stabilize
the national economy during the international resources crisis in the late
1970s and during the 1997 Asian currency crisis. PPS established Korea ON-line E-Procurement
System(KONEPS) in 2002 and it has been benchmarked by the international
community including the United Nations and the World Bank. The UN has
presented the Public Service Award to PPS in June 2003, recognizing its
innovations of the procurement system to be transparent and efficient. Furthermore, in Nov 2004, UN selected
KONEPS as the Best Practice Model in terms of e-Procurement and in April
2005, UN/CEFACT recognized KONEPS e-Procurement procedures as the
international standards. |
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Job Description |
Title |
Name |
Sex |
Nationality |
Date of Birth |
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Administrator |
Mr. |
Choi Kyu-Yun |
Male |
Korean |
01/02/1956 |
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Vice Administrator |
Mr. |
Min Hyung-Jong |
Male |
Korean |
02/05/1958 |
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Director-Electric Procurement |
Mr. |
Kim Hee-Moon |
Male |
Korean |
- |
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Director-International Procurement |
Mr. |
Lee Ki-Man |
Male |
Korean |
- |
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Director-Procurement Business |
Mr. |
Koo Ja-Jyun |
Male |
Korean |
- |
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Director-Facility Business |
Mr. |
Cheon Ryong |
Male |
Korean |
- |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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1,466,700,000,000 |
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2009 |
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1,418,434,000,000 |
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2008 |
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1,375,983,000,000 |
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Authorized Capital(KRW) |
Not Applicable to the Government Entity |
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Paid-Up Capital(KRW) |
Not Applicable to the Government Entity |
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Total Issued Shares |
Not Applicable to the Government Entity |
Balance
Sheet
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Unit : Million Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
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Total Assets |
1,466,700 |
1,418,434 |
1,375,983 |
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Current Assets |
1,100,350 |
1,051,395 |
1,002,172 |
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-Quick Assets |
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-Inventories |
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Fixed Assets |
366,350 |
367,040 |
373,811 |
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-Investment |
9,674 |
9,395 |
9,128 |
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-Tangibles |
353,484 |
356,106 |
363,541 |
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-Intangibles |
3,192 |
1,539 |
1,142 |
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Total Liabilities |
56,327 |
57,766 |
15,374 |
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Current Liabilities |
16,327 |
17,766 |
15,374 |
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Fixed Liabilities |
40,000 |
40,000 |
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Capital Stock |
1,021,397 |
930,912 |
880,225 |
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Capital Surplus |
234,861 |
234,861 |
256,806 |
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Profit Surplus |
154,114 |
194,894 |
223,578 |
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Capital Adjustment |
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Total Equity |
1,410,372 |
1,360,667 |
1,360,609 |
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Liab. & Shareholder’s Equity |
1,466,699 |
1,481,433 |
1,375,983 |
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Main Products & Services |
The Subject is the central procurement agency
of the Korean government providing goods, services, public works, and
information in the best possible manner to enable public organizations to
conduct their business and thereby best serve the citizen. Domestic and foreign procurement for public
institutions - More specifically, it purchases and
supplies goods amounting to an annual volume of USD 14 billion, which is
approximately 46% of total public purchases Contracts for the government's major
construction projects - Its contract volume stands at USD
14billion, which is approximately 39% of the entire public works. PPS also
reviews designs of construction projects and provides construction management
services for public institutions which lack professional engineers Stockpile and supply of raw materials - PPS stockpiles major raw materials such
as aluminum, copper, lead, zinc, tin, and construction materials. It also
make them available with short-and long-term supply and demand of goods, and
stabilization of consumer prices in mind, thereby supporting a stable
development of the national economy Coordination and audit of government
property matters - PPS efficiently manages approximately
12milion units of government properties, which amounts to USD 7.8 billion as
of 2007. It is in charge of matters regarding managing government property,
Management and operation of KONEPS. |
(Subsidiaries,
Joint-Venture & Affiliates)
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Overseas Branch |
EMBASSY OF THE PROCUREMENT DEPARTMENT 60 BUCKINGHAM GATE, TEL:+44-20-7828-4051 FAX:+44-20-7233-7649 EMBASSY OF THE TEL:+86-10-6531-0845 FAX:+86-10-8531-0847 EMBASSY OF THE 2-5, 1-CHOME MINAMIAZABU, MINATO-KU, TEL:+81-3-5476-3276 FAX:+81-3-3451-6925 CONSULATE GENERAL OF THE 455 TEL:+1-312-822-0443 / 1-312-822-9485 FAX:+1-312-822-9389 CONSULATE GENERAL OF THE TEL:+1-646-674-6048 FAX:+1-646-674-6055 |
(Activity &
Markets)
The Subject deals
with the companies in
Not Available.
--
FOREIGN EXCHANGE RATES
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Currency |
Unit
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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.