|
Report Date : |
01.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
ILSHIN
MACHINERY WORKS |
|
|
|
|
Registered Office : |
1234-186, Eupnae-dong, Buk-gu, Daegu, Korea |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
11.08.1990 |
|
|
|
|
Com. Reg. No.: |
702-847 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Manufacture of Industrial Machinery for Washing, Dyeing, Finishing
and Processing Industrial Machinery of Fiber |
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|
|
|
No. of Employees : |
4 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
-
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.
Source
: CIA
|
Company Name |
ILSHIN
MACHINERY WORKS (Korean
Company Name : “일신기계”) |
|
Registered Address |
1234-186, Eupnae-dong,
Buk-gu, Daegu, Korea |
|
Zip Code |
702-847 |
|
Tel |
+82-53-324-3828 |
|
Fax |
+82-53-322-3829 |
|
E-mail |
ilshin@iswinder.com |
|
Website |
www.iswinder.com |
|
Trading Address |
1234-186, Eupnae-dong,
Buk-gu, Daegu, Korea |
|
Tel |
+82-53-324-3828 |
|
Fax |
+82-53-322-3829 |
|
Type |
Export |
|
Industry |
Manufacture of Industrial Machinery for Washing, Dyeing,
Finishing and Processing Industrial Machinery of Fiber |
|
Main Business |
Winder for Leno Yarn, Soft Winder, Automatic Weft Pirn Winder, Automatic Sewing Thread Winder |
|
Established (mm/dd/yyyy) |
08/11/1990 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Winding or reeling or spooling machines(23121503) |
|
Sell |
Winders(23151904) |
|
Name |
Kim Young-Hwan |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital
(KRW) |
Not
Applicable to the Sole Proprietorship |
|
Employees |
4 |
|
Formation |
Sole Proprietorship |
|
Bank
Details |
Daegu Bank-Samduck Dong Branch |
|
Corporate
Registered No. |
Not
Applicable to the Sole Proprietorship |
|
Business
Registered No. |
504-26-98651 |
|
Permit
& Licenses |
N/A |
|
Shareholder
Position |
The
owner has 100% shares. |
|
Company
History |
08/11/1990
Established as the present name |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Kim Young-Hwan |
Male |
Korean |
08/11/1990 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2010 |
|
|
|
|
2009 |
|
|
|
|
2008 |
|
|
|
|
2007 |
|
|
|
|
2006 |
857,000,000 |
|
|
|
2005 |
405,000,000 |
|
|
|
2004 |
349,000,000 |
86,000,000 |
19,000,000 |
|
2003 |
241,000,000 |
54,000,000 |
13,000,000 |
The
latest & full 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 |
|
Main Products & Services |
Winder for Leno Yarn, Soft Winder, Automatic Weft Pirn Winder, Automatic Sewing Thread Winder |
|
Competitors |
SUNSTAR PRECISION CO., LTD. 178-67, GAJWA 1-DONG, SEO-GU,
INCHEON, KOREA TEL:+82-32-580-5800 FAX:+82-32-571-4546 A. M. S. CORPORATION RM. 708, HYUNDAI TOWER, 7-28,
SINCHEON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-3431-1692 FAX:+82-2-3431-1695 TAEWON S & G LTD. 478-3, ONCHEON 1-DONG,
DONGNAE-GU, BUSAN, KOREA TEL:+82-51-558-1911~4 FAX:+82-51-555-3561 |
Not Available.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.72 |
|
|
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.65 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.