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Report Date : |
20.04.2013 |
IDENTIFICATION DETAILS
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Name : |
HANDOL PUMPS LTD. |
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Registered Office : |
423-6, Nonhyeon-dong, Namdong-gu, Incheon, Korea 405-848 |
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Country : |
South Korea |
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Date of Incorporation : |
12.03.1993 |
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Com. Reg. No.: |
139-81-24099 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Pumps for Liquids |
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No. of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
Slow but correct |
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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) |
|
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 is currently the world's 12th largest economy. 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. Korea's export focused economy was hit hard by the 2008 global
economic downturn, but quickly rebounded in subsequent years, reaching 6.3%
growth in 2010. The US-South Korea Free Trade Agreement was ratified by both
governments in 2011 and went into effect in March 2012. Throughout 2012 the
economy experienced sluggish growth because of market slowdowns in the United
States, China, and the Eurozone. The incoming administration in 2013, following
the December 2012 presidential election, is likely to face the challenges of
balancing heavy reliance on exports with developing domestic-oriented sectors,
such as services. 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 |
HANDOL PUMPS
LTD. (Korean Company
Name : “(주)한돌펌프”) |
|
Registered Address |
423-6, Nonhyeon-dong, Namdong-gu, Incheon,
Korea |
|
Zip Code |
405-848 |
|
Tel |
+82-32-818-0105 |
|
Fax |
+82-32-818-0109 |
|
E-mail |
handol@handolpumps.com |
|
Website |
www.hdpump.co.kr |
|
Trading Address |
423-6, Nonhyeon-dong, Namdong-gu, Incheon,
Korea (New Address System : 296,
Seunggicheon-ro, Namdong-gu, Incheon, Korea) |
|
Tel |
+82-32-818-0105 |
|
Fax |
+82-32-818-0109 |
|
Type |
Export/Import |
|
Industry |
Manufacture of Pumps for Liquids |
|
Main Business |
High Pressure Multistage Turbine Pumps, Chemical Process Pumps, Medium
Pressure Multistage Pump, Heavy Duty API Process Pump, Paper Stock/Process
Pump, Horizontal Non-Clog Process Pump, Self-Priming Process Pump, Double
Suction Process Pump, Vertical Mixed Flow Pump |
|
Established (mm/dd/yyyy) |
03/12/1993 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Gear pumps(40151551) |
|
Sell |
Diaphragm pumps(40151548) |
|
Sell |
Sanitary pumps(40151519) |
|
Sell |
Screw Pumps(40151558) |
|
Sell |
Centrifugal pumps(40151503) |
|
Sell |
Pumps(40151500) |
|
Name |
Lee Bong-Joo |
|
Address |
Suite 990-501, 244, Surisan-ro, Gunpo-si,
Gyeonggi-do, Korea |
|
Date of Birth |
11/30/1948 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
670,000,000 |
|
Employees |
20 |
|
Formation |
Co., Ltd by Shares Venture Business |
|
Bank Details |
Industrial Bank of Korea-Namdong Industrial
Complex Branch |
|
Corporate Registered No. |
1201110-083361 |
|
Business Registered No. |
139-81-24099 |
|
Permit & Licenses |
11/1996 KT Mark 04/03/2000 CE Mark 12/30/2001 ISO 9001 2010 ISO 9001 Int’l Trade No.: 14004687 |
|
Shareholder Position |
N/A |
|
Company History |
04/01/1993 Incorporated as the present name 07/1998 Designated as a Venture Business 10/2005 Designated as an INNO-BIZ Company 03/27/2006 Increased the authorized shares
to 100,000 shares from 60,000 shares 03/28/2006 Increased capital to 670,000,000
KRW from 570,000,000 KRW 10/20/2011 Designated as a Venture Business
again |
|
|
|
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Lee Bong-Joo |
Male |
Korean |
10/05/1999 |
|
Director |
Mr. |
Lee Ki-San |
Male |
Korean |
10/05/1999 |
|
Director |
Mr. |
Lee Ji-Hoon |
Male |
Korean |
05/22/2012 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
6,022,000,000 |
14,101,000,000 |
102,000,000 |
|
|
03/2011 |
3,550,000,000 |
6,769,000,000 |
384,000,000 |
|
03/2010 |
3,961,000,000 |
5,637,000,000 |
380,000,000 |
|
03/2009 |
3,686,000,000 |
|
|
|
03/2008 |
3,433,000,000 |
|
|
|
03/2007 |
1,938,000,000 |
|
|
|
03/2006 |
2,178,000,000 |
|
|
|
03/2005 |
2,181,000,000 |
|
|
|
03/2004 |
1,145,000,000 |
|
|
|
03/2003 |
1,573,000,000 |
|
|
The full financials
are not available, and the Subject Company does not have any obligations to
release its financials to the public.
|
Authorized Capital(KRW) |
1,000,000,000 |
|
Paid-Up Capital(KRW) |
670,000,000 |
|
Total Issued Shares |
67,000 |
|
Main Products & Services |
High Pressure Multistage Turbine Pumps, Chemical Process Pumps, Medium
Pressure Multistage Pump, Heavy Duty API Process Pump, Paper Stock/Process
Pump, Horizontal Non-Clog Process Pump, Self-Priming Process Pump, Double
Suction Process Pump, Vertical Mixed Flow Pump |
|
Competitors |
KSC CO., LTD. 977-3, GEUMSAN-RI, WAEGWAN-EUP,
CHILGOK-GUN, GYEONGSANGBUK-DO, KOREA TEL:+82-54-972-3000 FAX:+82-54-972-0333 DELPHI KOREA CORP. 408-1, MABUK-DONG, GIHEUNG-GU, YONGIN-SI, GYEONGGI-DO,
KOREA TEL:+82-31-899-5000 FAX:+82-31-899-5429 CHANG-IL MACHINE CO., LTD. 61-13, PALYONG-DONG, CHANGWON-SI,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-297-2333 FAX:+82-55-292-2497 |
(Activity & Markets)
The Subject deals
with the companies in Germany, Indonesia and China.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
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.