MIRA INFORM REPORT

 

 

Report Date :

10.12.2013

 

IDENTIFICATION DETAILS

 

Name :

JR TRADING CO., LTD.

 

 

Formerly Known as: 

Shinsun Bonfood Co., Ltd.

 

 

Registered Office :

102-2607, Hanhwa Obelisk, 555, Dohwa-dong, Mapo-gu, Seoul, Korea, Zip Code 121-779

 

 

Country :

South korea

 

 

Date of Incorporation :

14.11.1996

 

 

Com. Reg. No.:

603-81-30414

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

·         Trader of agricultural food ingredients & additives

·         Trader of marine products from various fisheries of the globe such as Hoki, horsemackerel Sardine, Mackerel, Blue Whiting.

·         processing  of fish filet and crab meat such as Cod, Snow Crab, King Crab, Hoki 

 

 

No. of Employees :

04

 

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 – September 30th, 2013

 

Country Name

Previous Rating

(30.06.2013)

Current Rating

(30.09.2013)

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

 

Basic

 

Company Name

JR TRADING CO., LTD.

(Korean Company Name : “(주)제이알트레이딩”)

Registered Address

102-2607, Hanhwa Obelisk, 555, Dohwa-dong, Mapo-gu, Seoul, Korea

Zip Code

121-779

Tel

+82-2-701-5411~2

Fax

+82-2-701-5409

Website

www.jrtradings.com

Trading Address

102-2607, Hanhwa Obelisk, 555, Dohwa-dong, Mapo-gu, Seoul, Korea

Tel

+82-2-701-5411~2

Fax

+82-2-701-5409

Type

Export/Import

  Main business

·         Trader of agricultural food ingredients & additives

·         Trader of marine products from various fisheries of the globe such as Hoki, horsemackerel Sardine, Mackerel, Blue Whiting.

·         processing  of fish filet and crab meat such as Cod, Snow Crab, King Crab, Hoki 

Established (mm/dd/yyyy)

11/14/1996

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Fresh aquatic invertebrates(50121705)

Sell

Live crabs(10101805)

Sell

Fresh shellfish(50121611)

Sell

Cereal flour(50221102)

Sell

Shelf stable aquatic invertebrates(50121707)

Sell

Seafood(50120000)

 

 

CEO’s

 

Name

Ryu Je-Joong

Address

Suite 109-203, 222, Seolleung-ro, Gangnam-gu, Seoul, Korea

Date of Birth

11/27/1968

Title

Representative Director

Sex

Male

Nationality

Korean

 

 

Profiles

 

Capital (KRW)

200,000,000

Employees

4

Formation

Co., Ltd by Shares

Bank Details

Korea Exchange Bank-Shinpyung Branch

Industrial Bank of Korea-Myungdo Branch

Corporate Registered No.

1801110-218057

Business Registered No.

603-81-30414

Permit & Licenses

Int’l Trade No.: 12060191

Shareholder Position

N/A

Company History

11/14/1996 Incorporated as Shinsun Mulsan Co., Ltd.

11/10/2003 Changed company name to Shinsun Bonfood Co., Ltd.

11/12/2004 Moved to the present HQ address from 16-3, Nonhyeon-dong, Gangnam-gu, Seoul, Korea

03/31/2012 Changed company name to the present name

 

 

 

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

Representative Director

Mr.

Ryu Je-Joong

Male

Korean

03/31/2003

Auditor

M/S.

Kim Duck-Sun

Female

Korean

03/31/2005

 

 

Financials

 

The 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)

2,500,000,000

Paid-Up Capital(KRW)

200,000,000

Total Issued Shares

40,000

 

 

Products, Technologies, Services Description

 

Main Products & Services

Agricultural Food Ingredients :

Wheat Flour, Sugar, corn starch, yeast food, glycerin mono fatty acids ester, food colors

 

Marine Products :-

Hoki, horsemackerel Sardine, Mackerel, Blue Whiting, Cod, Snow Crab, King Crab

 

Trade Partners & Competitors

 

Competitors

DAEHWA CO., LTD.

590-5, HAAN 1-DONG, GWANGMYEONG-SI, GYEONGGI-DO, KOREA

TEL:+82-2-897-2100  FAX:+82-2-897-2545

 

CSK TRADING CO., LTD.

RM. 301, GUNGHYEON BLDG., 1579-5, SEOCHO 3-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-597-5915  FAX:+82-2-597-5918

 

HANS CORPORATION

RM. 201, HYOJIN BLDG., 1540-5, SEOCHO 3-DONG, SEOCHO-GU, SEOUL, KOREA

TEL:+82-2-521-2536  FAX:+82-2-521-2445

 

 

Sales by Region

(Activity & Markets)

 

The Subject deals with the companies in New Zealand, Vietnam and China.

 

 

Court Action

 

Not Available.

 

 

News Clipping

 

--

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.79

UK Pound

1

Rs.100.01

Euro

1

Rs.83.82

 

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.