MIRA INFORM REPORT
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Report Date : |
20.10.2012 |
IDENTIFICATION DETAILS
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Name : |
DANA KOREA CO., LTD. |
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Formerly Known As : |
SUNSHINE TRADING CO. |
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Registered Office : |
353-1, Seogyo-dong, Mapo-gu, Seoul, Koream Rm. 1703, Seogyo Tower
Officetel, Zip Code 121-760 |
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Country : |
South korea |
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Date of Incorporation : |
22.10.2002 |
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Com. Reg. No.: |
105-86-45757 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesaler of Basic Metals |
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No. of Employees : |
07 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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South Korea |
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 |
South Korea - ECONOMIC OVERVIEW
South Korea over the past four decades has demonstrated incredible
growth and global integration to become a high-tech industrialized economy. In
the 1960s, GDP per capita was comparable with levels in the poorer countries of
Africa and Asia. In 2004, South Korea joined the trillion dollar club of world
economies, and currently is among the world's 20 largest economies. Initially,
a system of close government and business ties, including directed credit and
import restrictions, made this success possible. The government promoted the
import of raw materials and technology at the expense of consumer goods, and
encouraged savings and investment over consumption. The Asian financial crisis
of 1997-98 exposed longstanding weaknesses in South Korea''s development model
including high debt/equity ratios and massive short-term foreign borrowing. GDP
plunged by 6.9% in 1998, and then recovered by 9% in 1999-2000. Korea adopted
numerous economic reforms following the crisis, including greater openness to
foreign investment and imports. Growth moderated to about 4% annually between
2003 and 2007. With the global economic downturn in late 2008, South Korean GDP
growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began
to recover, in large part due to export growth, low interest rates, and an
expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South
Korea Free Trade Agreement was ratified by both governments and is projected to
go into effect in early 2012. The South Korean economy''s long term challenges
include a rapidly aging population, inflexible labor market, and heavy reliance
on exports - which comprise half of GDP.
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Source : CIA |
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Company
Name |
DANA KOREA CO., LTD. (Korean Company Name : “다나코레아(주)”) |
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Registered Address |
353-1, Seogyo-dong, Mapo-gu, Seoul, Korea |
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Building |
Rm. 1703, Seogyo Tower Officetel |
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Zip Code |
121-760 |
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Tel |
+82-2-3143-4070 |
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Fax |
+82-2-3143-4233 |
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E-mail |
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Website |
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Trading Address |
Rm. 1703, Seogyo Tower Officetel, 353-1,
Seogyo-dong, Mapo-gu, Seoul, Korea |
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Tel |
+82-2-3143-4070 |
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Fax |
+82-2-3143-4233 |
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Type |
Export/Import |
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Industry |
Wholesale of Basic Metals |
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Main Business |
PVC Film Laminated Metal Sheet, Pre-painted Metal Sheet, Filter,
Electronic Component Parts, Plastic Resin |
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Sub
Business |
Wholesale of Synthetic Rubber and Plastics Materials |
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Established (mm/dd/yyyy) |
10/22/2002 |
Mr. Kim Yong-Chan, president & CEO, owns the premises of registered HQ address.
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Filters(40161500) |
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Sell |
Electronic Components and Supplies(32000000) |
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Sell |
Plate(30102200) |
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Sell |
Iron plate(30102203) |
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Name |
Kim Yong-Chan |
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Address |
Rm.134-301, 901, Mok-dong,
Yangcheon-gu, Seoul, Korea |
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Date of Birth |
07/16/1962 |
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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) |
1,200,000,000 |
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Employees |
7 |
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Formation |
Co., Ltd by shares |
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Bank Details |
Korea Exchange Bank-Yeonnam Dong Branch |
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Corporate Registered No. |
110111-2635831 |
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Business Registered No. |
105-86-45757 |
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Permit & Licenses |
Int’l Trade No.: 45054266 |
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Shareholder Position |
N/A |
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Company History |
04/01/2000 Established as SUNSHINE TRADING CO.(Sole
Proprietorship) 10/22/2002
Incorporated as the present name 01/02/2008
Increased the authorized shares to 500,000 shares from 40,000 shares 01/03/2008
Increased capital to 300,000,000 KRW from 50,000,000 KRW 12/29/2010
Increased capital to 400,000,000 KRW from 300,000,000 KRW 11/19/2011
Increased the authorized shares to 5,000,000 shares from 500,000 shares 01/02/2012
Split off the par value nto 500 KRW from 5,000 KRW 04/14/2012
Increased capital to 1,200,000,000 KRW from 400,000,000 KRW |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
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President & CEO |
Mr. |
Kim Yong-Chan |
Male |
Korean |
10/22/2002 |
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Director |
Mr. |
Park Jong-Cheon |
Male |
Korean |
10/22/2002 |
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Director |
Mr. |
Kim Young-Tak |
Male |
Korean |
04/12/2012 |
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Director |
Mr. |
Hong Ki-Bong |
Male |
Korean |
04/12/2012 |
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Auditor |
M/S. |
Yang Jung-Ah |
Female |
Korean |
03/14/2005 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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2010 |
32,600,000,000 |
6,425,000,000 |
958,000,000 |
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2009 |
23,366,000,000 |
4,537,000,000 |
487,000,000 |
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2008 |
16,319,320,000 |
1,625,000,000 |
339,230,000 |
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2007 |
7,231,400,000 |
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71,010,000 |
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2006 |
6,078,180,000 |
681,000,000 |
71,740,000 |
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2005 |
4,322,000,000 |
582,000,000 |
21,450,000 |
|
2004 |
2,491,000,000 |
|
11,100,000 |
The full &
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) |
2,500,000,000 |
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Paid-Up Capital(KRW) |
1,200,000,000 |
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Total Issues Shares |
2,400,000 |
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Main Products & Services |
PVC Film Laminated Metal Sheet Pre-painted Metal Sheet Electronic Component Parts Plastic Resin Filter |
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Competitors |
TAE WOONG CO., LTD. 1462-1, SONGJEONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-329-5000 FAX:+82-51-329-5001 ROAD INTERNATIONAL CO., LTD. RM. 823, SUSEO HYUNDAI VENTURE VILLE, 713, SUSEO-DONG,
GANGNAM-GU, SEOUL, KOREA TEL:+82-2-563-6161 FAX :+82-2-563-6162 GUM SUNG INDUSTRIAL CO., LTD. 649-1, NAKSAN-RI, WAEGWAN-EUP, CHILGOK-GUN,
GYEONGSANGBUK-DO, KOREA TEL:+82-53-592-4040 FAX:+82-53-592-2332 |
(Activity & Markets)
The Subject exports to Middle East, Pakistan, Hong Kong, Indonesia,
Singapore, Vietnam, India and China.
Not Available.
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.52.96 |
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UK Pound |
1 |
Rs.85.45 |
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Euro |
1 |
Rs.69.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.