MIRA INFORM REPORT

 

 

Report Date :

24.09.2012

 

 

IDENTIFICATION DETAILS

 

Name :

DALI TRADE CORP.

 

 

Registered Office :

555, Dohwa-dong, Mapo-gu, Seoul, Korea, Rm.O-712, Mapo Hanwha Obelisk Officetel, Zip Code 121-040

 

 

Country :

South Korea

 

 

Date of Incorporation :

12.01.2009

 

 

Com. Reg. No.:

105-87-27324

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Wholesale of Other Chemical Materials and Chemical Products

 

 

No. of Employees :

01 employee

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

Slow but Correct

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

 

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.

 

Source : CIA

 

Basic

 

Company Name

DALI TRADE CORP.

(Korean Company Name : “(주)달리트래이드”)

Registered Address

555, Dohwa-dong, Mapo-gu, Seoul, Korea

Building

Rm.O-712, Mapo Hanwha Obelisk Officetel

Zip Code

121-040

Tel

+82-70-8780-5652

Fax

+82-2-6918-4627

Trading Address

Rm.O-712, Mapo Hanwha Obelisk Officetel, 555, Dohwa-dong, Mapo-gu, Seoul, Korea

Tel

+82-70-8780-5652

Fax

+82-2-6918-4627

Type

Export

Industry

Wholesale of Other Chemical Materials and Chemical Products

  Main Business

Propylene Glycol

Established (mm/dd/yyyy)

01/12/2009

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Alcohols or its substitutes(12352104)

 

 

CEO’s

 

Name

Lee Sang-Kyu

Address

Suite 501-303, 35, Hugok-ro, Ilsanseo-gu, Goyang-si, Gyeonggi-do, Korea

Date of Birth

01/27/1964

Title

Representative Director

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

50,000,000

Employees

1

Formation

Co., Ltd by Shares

Bank Details

N/A

Corporate Registered No.

1101114-026814

Business Registered No.

105-87-27324

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

01/12/2009 Incorporated as the present name

06/10/2011 Moved to the present HQ address from Rm.O-704, Mapo Hanwha Obelisk Officetel, 555, Dohwa-dong, Mapo-gu, Seoul, Korea

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Lee Sang-Kyu

Male

Korean

01/12/2009

Auditor

M/S.

Lee Kyung-Ok

Female

Korean

03/30/2012

 

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2011

21,747,000,000

2,444,000,000

304,000,000

2010

15,959,000,000

1,055,000,000

136,000,000

The 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)

200,000,000

Paid-Up Capital(KRW)

50,000,000

Total Issues Shares

10,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Propylene Glycol

 

 

Trade Partners & Competitors

 

Customers

STANDARD MANUFACTURING COMPANY PVT LTD

4 DAYAL SINGH MANSION, SHAHRA-E-QUAID-E-AZAM, LAHORE LANDMARKS: DAYAL SINGH MANSION, SHAHRA-E-QUAID-E-AZAM, PAKISTAN

TEL:+92-42-37122558, 37122559, 37122560 FAX:+92-42-37233479

 

MARRIANA INTERNATIONAL

ABDULLAH SQUARE, 43/1/H, BLOCK-6, MAIN RAZI ROAD, P.E.C.H.S. KARACHI-75400, PAKISTAN

TEL:+92-21-4536424-30 FAX:+92-21-4531717 & 4557379

Competitors

YANGWOO CHEMICAL CO., LTD.

RM. 702, KOREA CITY AIR TERMINAL, 159-6, SAMSEONG 1-DONG, GANGNAM-GU, SEOUL, KOREA

TEL:+82-2-551-1476  FAX:+82-2-551-1470

 

DONG RYUNG CHEMICALS CO., LTD.

5TH FL., SEHYEON BLDG., 1581-7, SEOCHO 3-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-525-6060  FAX:+82-2-525-8080

 

ROK CHEM CORPORATION

RM. 806, HYUNDAI UIBO APT., 642-33, GURO 1-DONG, GURO-GU, SEOUL, KOREA

TEL:+82-70-4255-4884  FAX:+82-2-718-3309

 

 

Sales by Region

(Activity & Markets)

 

The Subject exports to Kuwait, Saudi Arabia and Pakistan.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

---

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.91

UK Pound

1

Rs.87.60

Euro

1

Rs.70.01

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.