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Report Date : |
13.04.2013 |
IDENTIFICATION DETAILS
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Name : |
NEWCHEM GLOBAL INC. |
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Registered Office : |
Rm. 1110, Masters Tower Bldg. 553, Dohwa-dong, Mapo-gu, Seoul, Korea 121-748 |
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Country : |
South Korea |
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Date of Incorporation : |
02.12.2009 |
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Com. Reg. No.: |
107-87-28969 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesale of Other Chemical Materials and Chemical
Products |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
|
Country Name |
Previous Rating (31.03.2011) |
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.
Source : CIA
|
Company
Name |
NEWCHEM GLOBAL
INC. (Korean Company
Name : “(주)뉴켐글로벌”) |
|
Registered Address |
553, Dohwa-dong, Mapo-gu, Seoul, Korea |
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Building |
Rm. 1110, Masters Tower Bldg. |
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Zip Code |
121-748 |
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Tel |
+82-2-3775-1517~8 |
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Fax |
+82-2-3775-1519 |
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E-mail |
newchem@newchemglobal.com |
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Trading Address |
Rm. 1110, Masters Tower Bldg., 553,
Dohwa-dong, Mapo-gu, Seoul, Korea (New Address System : Rm. 1110, Masters
Tower Bldg., 331, Dokmak-ro, Mapo-gu, Seoul, Korea) |
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Tel |
+82-2-3775-1517~8 |
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Fax |
+82-2-3775-1519 |
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Type |
Export |
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Industry |
Wholesale of Other Chemical Materials and Chemical Products |
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Main Business |
DEG, Acetone, PA, Phenol, MA, MPG, PS, EPS, Fertilizer |
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Established (mm/dd/yyyy) |
12/02/2009 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Chemistry reagents or solutions(41116105) |
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Sell |
Chemicals including Bio Chemicals and Gas
Materials(12000000) |
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Sell |
Chemical fertilizers and plant
nutrients(10171600) |
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Name |
Cho Sung-Woo(Steve) |
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Address |
Suite 335-2501, 35, Jamsil-dong,
Songpa-gu, Seoul, Korea |
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Date of Birth |
05/11/1964 |
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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) |
200,000,000 |
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Employees |
3 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
N/A |
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Corporate Registered No. |
110111-4232007 |
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Business Registered No. |
107-87-28969 |
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Permit & Licenses |
Int’l Trade No.: 30661701 |
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Shareholder Position |
N/A |
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Company History |
12/02/2009 Incorporated as the present name 12/15/2011 Moved to the present HQ address
from Rm.
2201, S-trenue, 26-1, Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Cho Sung-Woo |
Male |
Korean |
12/02/2009 |
|
Director |
Mr. |
Jung Jae-Hyun |
Male |
Korean |
12/02/2009 |
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Auditor |
M/S. |
Yong Eun-Kyung |
Female |
Korean |
12/02/2009 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
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2010 |
25,000,000,000 |
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2009 |
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The 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) |
200,000,000 |
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Total Issues Shares |
40,000 |
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Main Products & Services |
DEG, Acetone, PA, Phenol, MA, MPG, PS, EPS, Fertilizer |
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Competitors |
DOUGLAS CHEM INC RM. 812, DAEWOO BLDG. BOKAP-DONG, 167,
NAESU-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-6272-7130 FAX:+82-2-6272-7131 MYOUNGJI CHEMICAL CO., LTD. RM. 1001, DAEWOO OFFICETEL, 45-5,
YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-761-6660 FAX:+82-2-761-0337 CHEMICAL NETWORKS CO., LTD. 753-14, WONSAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-237-6111 FAX:+82-52-237-6110 |
(Activity &
Markets)
The Subject exports
to India and China.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.44 |
|
|
1 |
Rs.83.77 |
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Euro |
1 |
Rs.71.33 |
INFORMATION DETAILS
|
Report
Prepared by : |
SDA |
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.