|
Report Date : |
16.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
NAJIN STEEL CO., LTD. |
|
|
|
|
Registered Office : |
Rm. 2030, Hyundai World Tower 907, Mok 5-dong, Yangcheon-gu, Seoul, Korea 158-735 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2009 |
|
|
|
|
Date of Incorporation : |
21.05.1998 |
|
|
|
|
Com. Reg. No.: |
211-86-29300 |
|
|
|
|
Legal Form : |
Co., Ltd by
shares |
|
|
|
|
Line of Business : |
Manufacture of Basic Cut Products of Iron or Steel to
Non-rectangular Shapes |
|
|
|
|
No. of Employees : |
14 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
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
|
Company Name |
NAJIN STEEL CO., LTD. (Korean Company Name : “나진스틸(주)”) |
|
Registered Address |
907, Mok 5-dong, Yangcheon-gu, Seoul,
Korea |
|
Building |
Rm. 2030, Hyundai World Tower |
|
Zip Code |
158-735 |
|
Tel |
+82-2-2646-6611 |
|
Fax |
+82-2-2646-6621 |
|
E-mail |
soongue100@naver.com;kjsteelbs@kornet.net;jangwon7777@hanmail.net |
|
Trading Address |
Rm. 2030, Hyundai World Tower, 907, Mok
5-dong, Yangcheon-gu, Seoul, Korea |
|
Tel |
+82-2-2646-6611 |
|
Fax |
+82-2-2646-6621 |
|
Other Address-Gimhaen Branch |
52-3, Gamno-ri ,Sangdong-myeon, Gimhae-si,
Gyeongsangnam-do, Korea |
|
Tel |
+82- 55-337-6770 |
|
Fax |
+82-55-337-6773 |
|
Type |
Export |
|
Industry |
Manufacture of Basic Cut Products of Iron or Steel to Non-rectangular
Shapes |
|
Main Business |
Aluminum Steel Sheet, Electro Galvanized Iron(EGI)Sheet, Cold Rolled
Steel Sheet Fabrication |
|
Established (mm/dd/yyyy) |
05/21/1998 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Sheet(30102500) |
|
Sell |
Electro Galvanized Iron(EGI) Sheet |
|
Name |
Roh Tae-Sik |
|
Address |
Rm. 201, 121-136, Dangsan-dong,
Yeongdeungpo-gu, Seoul, Korea |
|
Date of Birth |
07/27/1953 |
|
Title |
President & CEO / Trustee |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
800,000,000 |
|
Employees |
14 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Industrial Bank of Korea-Deungchon Dong
Branch S.C. First Bank of Korea-Dosan-Ro Branch |
|
Corporate Registered No. |
110111-1548481 |
|
Business Registered No. |
211-86-29300 |
|
Permit & Licenses |
Int’l Trade No.: 11526847 |
|
Shareholder Position |
N/A |
|
Company History |
05/21/1998 Incorporated as KYUNGJIN STEEL
CO., LTD. 12/30/2000 Increased capital to 200,000,000
KRW from 50,000,000 KRW 12/28/2001 Increased the authorized shares
to 200,000 shares from 40,000 shares 12/29/2001 Increased capital to
500,000,000 KRW from 200,000,000 KRW 04/16/2003 Moved to the present address
from 605-4, Mok 3-dong, Yangcheon-gu, Seoul, Korea 04/16/2003 Changed company name to the
present name 03/25/2004 Increased capital to
800,000,000 KRW from 500,000,000 KRW 07/04/2012 Decided to start the Corporate
Reviving procedure by Seoul Central District Court 03/29/2013 Approved of Corporate Reviving
Plan by Seoul Central District Court |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO / Trustee |
Mr. |
Roh Tae-Sik |
Male |
Korean |
05/21/1998 |
|
Director |
Mr. |
Kim Young-Il |
Male |
Korean |
12/01/2005 |
|
Auditor |
Mr. |
Sul Dong-Woo |
Male |
Korean |
06/15/2001 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
28,593,550,000 |
9,418,000,000 |
240.980,000 |
|
2008 |
30,463,000,000 |
9,225,000,000 |
421,000,000 |
|
2007 |
22,704,000,000 |
6,987,000,000 |
453,000,000 |
|
2006 |
17,968,000,000 |
6,931,000,000 |
261,000,000 |
|
2005 |
20,177,000,000 |
6,932,000,000 |
212,000,000 |
|
2004 |
22,882,000,000 |
6,776,000,000 |
319,000,000 |
|
2003 |
14,091,000,000 |
6,044,000,000 |
194,000,000 |
|
Authorized Capital(KRW) |
1,000,000,000 |
|
Paid-Up Capital(KRW) |
800,000,000 |
|
Total Issues Shares |
160,000 |
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Total Assets |
9,418,000,000 |
9,225,000,000 |
6,987,000,000 |
|
Current Assets |
|
6,537,000,000 |
4,158,000,000 |
|
-Quick Assets |
|
4,902,000,000 |
2,700,000,000 |
|
-Inventories |
|
1,635,000,000 |
1,458,000,000 |
|
Fixed Assets |
|
2,688,000,000 |
2,828,000,000 |
|
-Investment |
|
261,000,000 |
- |
|
-Tangibles |
|
1,657,000,000 |
2,009,000,000 |
|
-Intangibles |
|
584,000,000 |
638,000,000 |
|
Total Liabilities |
6,641,000,000 |
6,610,000,000 |
4,792,000,000 |
|
Current Liabilities |
|
4,626,000,000 |
3,030,000,000 |
|
Fixed Liabilities |
|
1,984,000,000 |
1,762,000,000 |
|
Capital Stock |
|
800,000,000 |
800,000,000 |
|
Capital Surplus |
|
- |
- |
|
Profit Surplus |
|
1,815,000,000 |
1,394,000,000 |
|
Capital Adjustment |
|
- |
- |
|
Total Equity |
2,777,000,000 |
2,615,000,000 |
2,194,000,000 |
|
Liab. & Shareholder’s Equity |
9,418,000,000 |
9,225,000,000 |
6,987,000,000 |
|
Unit : Korean Won |
As of 12/31/2009 |
As of 12/31/2008 |
As of 12/31/2007 |
|
Sales |
28,593,550,000 |
30,463,000,000 |
22,704,000,000 |
|
Cost of Sold Goods |
|
23,996,000,000 |
19,559,000,000 |
|
Gross Profit |
|
6,466,000,000 |
3,145,000,000 |
|
Selling & Admin. Expenses |
|
4,075,000,000 |
3,044,000,000 |
|
Operating Income |
|
2,392,000,000 |
101,000,000 |
|
Non-Operating Income |
|
268,000,000 |
1,378,000,000 |
|
Non-Operating Expenses |
|
2,239,000,000 |
864,000,000 |
|
Ordinary Income |
|
421,000,000 |
615,000,000 |
|
Special Income |
|
- |
- |
|
Income Before Taxes |
|
421,000,000 |
615,000,000 |
|
Income Taxes Expenses |
|
- |
163,000,000 |
|
Net Income |
240.980,000 |
421,000,000 |
453,000,000 |
|
Main Products & Services |
Aluminum Steel Sheet Electro Galvanized Iron(EGI)Sheet |
|
Competitors |
DAWOO STEEL TRADING CO., LTD. D-2109, MOKDONG TWIN VILL, MOK 5-DONG, YANGCHEON-GU,
SEOUL, KOREA TEL:+82-2-2646-8027~9 FAX:+82-2-2646-8012~3 SUNGHO STEEL CO., LTD. 823, CHIMSAN 1-DONG, BUK-GU, DAEGU, KOREA TEL:+82-53-356-3587 FAX:+82-53-351-7577 HAN MOO INC. RM. 724, SUSEO HYUNDAI VENTURE VILLE, 713,
SUSEO-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-3474-5154 FAX:+82-2-3474-5032 |
(Subsidiaries,
Joint-Venture & Affiliates)
|
Overseas Branch |
There is a local corporation (Pakistan)
which was established in 2006. |
(Activity &
Markets)
The Subject exports to Middle East and South East Asia..
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.62 |
|
|
1 |
Rs.83.69 |
|
Euro |
1 |
Rs.71.41 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.