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Report Date : |
26.12.2013 |
IDENTIFICATION DETAILS
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Name : |
POLMAC CO., LTD. |
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Registered Office : |
945-2, Daechi 2-dong, Gangnam-gu, Seoul, Korea, Rm. 802, Semyeong Bldg., Zip code 135-846 |
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Country : |
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Date of Incorporation : |
09.03.2007 |
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Com. Reg. No.: |
120-87-35973 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesaler of other chemical materials and chemical products such as
polypropylene(PP) & plastic
resins |
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No. of Employees : |
02 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 : |
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 – 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 |
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Moderate |
B1 |
|
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 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 |
POLMAC CO., LTD. (Korean Company Name : “(주)폴맥”) |
|
Registered Address |
945-2, Daechi 2-dong, Gangnam-gu, Seoul, Korea |
|
Building |
Rm.
802, Semyeong Bldg. |
|
Zip Code |
135-846 |
|
Tel |
+82-2-3452-6078 |
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Fax |
+82-2-3452-6076 |
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E-mail |
|
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Trading
Address |
Rm. 802, Semyeong Bldg., 945-2, Daechi
2-dong, Gangnam-gu, Seoul, Korea (New address System : 945-2, Daechi 2-dong, Gangnam-gu, Seoul, Korea) |
|
Tel |
+82-2-569-4030 |
|
Fax |
+82-2-3452-6076 |
|
Type |
Export |
|
Industry |
Wholesale
of Other Chemical Materials and Chemical Products |
|
Main Business |
Polypropylene(PP) |
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Established (mm/dd/yyyy) |
03/09/2007 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Plastic resins(13111059) |
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Sell |
Polypropylene PP(13102022) |
|
Name |
Chang
Young-Bae(Steve) |
|
Address |
Suite 15-707, 500, Daechi-dong,
Gangnam-gu, Seoul, Korea |
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Date of Birth |
12/12/1964 |
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Title |
Representative Director |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
50,000,000 |
|
Employees |
2 |
|
Formation |
Co.,
Ltd by Shares |
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Bank Details |
Korea Exchange Bank |
|
Corporate Registered No. |
110111-3634741 |
|
Business Registered No. |
120-87-35973 |
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Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
03/09/2007 Incorporated as the present name 12/30/2008 Moved to the present HQ address
from Rm.
902, Semyeong Bldg., 945-2, Daechi 2-dong, Gangnam-gu, Seoul, Korea |
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|
|
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
Representative Director |
Mr. |
Chang
Young-Bae(Steve) |
Male |
Korean |
03/09/2010 |
|
Auditor |
Mr. |
Seo Doo-Won |
Male |
Korean |
03/09/2010 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2009 |
10,616,000,000 |
1,157,000,000 |
153,000,000 |
The full &
latest financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
50,000,000 |
|
Total Issued Shares |
10,000 |
|
Main Products & Services |
Polypropylene(PP) |
|
Competitors |
CRESCO CORPORATION LTD. RM. 407, GWANGHWAMUN OFFICIA, 163, SINMUNNO
1-GA, JONGNO-GU, SEOUL, KOREA TEL:+82-2-3276-3777 FAX:+82-2-3276-3779 SAMMIN CORPORATION RM. 408, DAEGWANG BLDG., 7-15, NONHYEON
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-547-2556 FAX:+82-2-547-2559 JUNGWOO CORPORATION 2ND FL., JEONG-U BLDG., 1552-8, SEOCHO
3-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-523-9661 FAX:+82-2-523-9671 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
KOSPOL MULSAN CO., LTD.(110111-2282426) |
(Activity & Markets)
The Subject exports
to Iran.
Not Available.
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
UK Pound |
1 |
Rs.101.10 |
|
Euro |
1 |
Rs.84.65 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.