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Report Date : |
03.09.2012 |
IDENTIFICATION DETAILS
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Name : |
SAM YOUNG SYNTHETIC CO., LTD. |
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Formerly Known As : |
WOOKMYUNG SPECIAL
TEXTILE CO., LTD |
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Registered Office : |
592-1, Bong-dong,
Yeongcheon-si, Gyeongsangbuk-do, Korea, Zip Code 770-140 |
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Country : |
South Korea |
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Date of Incorporation : |
25.04.1988 |
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Com. Reg. No.: |
505-81-20607 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacturer of Regenerated Organic Fibers |
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No. of Employees : |
23 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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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
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
SAM YOUNG SYNTHETIC CO., LTD. (Korean Company Name : “삼영합섬(주)”) |
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Registered Address |
592-1, Bong-dong,
Yeongcheon-si, Gyeongsangbuk-do, Korea |
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Zip Code |
770-140 |
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Tel |
+82-54-335-9797~8 |
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Fax |
+82-54-335-9799 |
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E-mail |
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Trading Address |
592-1, Bong-dong,
Yeongcheon-si, Gyeongsangbuk-do, Korea |
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Tel |
+82-54-335-9797~8 |
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Fax |
+82-54-335-9799 |
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Type |
Export/Import |
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Industry |
Manufacture of
Regenerated Organic Fibers |
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Main Business |
Regenerated
Polyester Staple Fiber |
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Established
(mm/dd/yyyy) |
04/25/1988 |
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Activity |
Detailed Products
(UNSPSC) |
|
Sell |
Polyester
fibers(11151503) |
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Sell |
Synthetic
fabrics(11161800) |
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Sell |
Textile working
machinery and equipment and accessories(23121600) |
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Buy |
Spunbonded
nonwovens(11162201) |
|
Name |
Kwak Dong-Yook |
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Address |
Suite 211-801, 591,
Jungang-daero, Buk-gu, Daegu, Korea |
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Date of Birth |
12/03/1949 |
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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) |
700,000,000 |
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Employees |
23 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Korea Exchange Bank
of Korea-Nowon Branch |
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Corporate
Registered No. |
1747110-001177 |
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Business Registered
No. |
505-81-20607 |
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Permit &
Licenses |
Int’l Trade No.:
25001996 |
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Shareholder
Position |
N/A |
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Company History |
04/25/1988
Incorporated as WOOKMYUNG SPECIAL TEXTILE CO., LTD. 12/05/1992 Changed
company name to the present name |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kwak Dong-Yook |
Male |
Korean |
03/13/2009 |
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Director |
Mr. |
Lee Ok-Soon |
Male |
Korean |
03/13/2009 |
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Auditor |
Mr. |
Jung Yong-Bum |
Male |
Korean |
03/13/2009 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2007 |
7,821,000,000 |
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|
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2006 |
8,000,000,000 |
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2005 |
8,000,000,000 |
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2004 |
8,834,000,000 |
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2003 |
8,224,000,000 |
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The latest & full
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) |
800,000,000 |
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Paid-Up
Capital(KRW) |
700,000,000 |
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Total Issues Shares |
70,000 |
|
Main Products &
Services |
Regenerated
Polyester Staple Fiber |
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Competitors |
INVISTA KOREA INC. 19TH FL., KUMGANG
TOWER, 889-13, DAECHI 4-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-550-5200 FAX:+82-2-550-5277 DO BEST CO., LTD. 105-112, GONGDEOK-DONG, MAPO-GU, SEOUL, KOREA TEL:+82-2-3271-3800
FAX:+82-2-3271-3899 SOLSANG INTERNATIONAL CORP. RM. 711, DAEYOUNG BLDG., 44-1, YEOEUIDO-DONG, YEONGDEUNGPO-GU, SEOUL,
KOREA TEL:+82-2-318-1137 FAX:+82-2-318-1170 |
(Activity &
Markets)
Not Available.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.72 |
|
UK Pound |
1 |
Rs.87.95 |
|
Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
---- |
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.