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Report Date : |
06.02.2013 |
IDENTIFICATION DETAILS
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Name : |
SH POLYCHEM CORP. |
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Registered Office : |
467-24, Dogok 2-dong, Gangnam-gu, Seoul, Korea, Rm. 302, Woosung
Character 199 Officetel, Zip Code 135-856 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2009 |
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Date of Incorporation : |
18.02.2008 |
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Com. Reg. No.: |
105-87-18029 |
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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 |
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No. of Employees : |
01 employee |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 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 |
SH POLYCHEM
CORP. (Korean Company Name
: “(주)에스에이치폴리켐”) |
|
Registered Address |
467-24, Dogok 2-dong, Gangnam-gu, Seoul,
Korea |
|
Building |
Rm. 302, Woosung Character 199 Officetel |
|
Zip Code |
135-856 |
|
Tel |
+82-2-3143-1406 |
|
Fax |
+82-2-3143-1407 |
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E-mail |
|
|
Website |
|
|
Trading Address |
Rm. 302, Woosung Character 199 Officetel,
467-24, Dogok 2-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-3143-1406 |
|
Fax |
+82-2-3143-1407 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
Polyurethane Hardener, Paint Material, Paint Additives |
|
Established (mm/dd/yyyy) |
02/18/2008 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Resins(13111000) |
|
Sell |
Chemistry reagents or solutions(41116105) |
|
Sell |
Polyurethane resins(13111061) |
|
Sell |
Chemicals including Bio Chemicals and Gas
Materials(12000000) |
|
Name |
Chung Sang-Hoon(Stanly) |
|
Address |
Suite 120-1003, 54, Sunae-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea |
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Date of Birth |
02/17/1966 |
|
Title |
President & CEO |
|
Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
50,000,000 |
|
Employees |
1 |
|
Formation |
Co., Ltd by Shares |
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Bank Details |
Suhyup Bank |
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Corporate Registered No. |
110111-3842469 |
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Business Registered No. |
105-87-18029 |
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Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
02/18/2008 Incorporated as the present name 04/16/2010 Moved to the present HQ address
from 200-30, Donggyo-dong,
Mapo-gu, Seoul, Korea |
|
|
|
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Chung Sang-Hoon (Stanly) |
Male |
Korean |
02/18/2008 |
|
Director |
Mr. |
Lee Chan-Joo |
Male |
Korean |
02/18/2008 |
|
Director |
M/S. |
Seo Moon-Ja |
Female |
Korean |
02/18/2008 |
|
Auditor |
M/S. |
Lee Soo-Mi |
Female |
Korean |
02/18/2008 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2009 |
1,772,000,000 |
381,000,000 |
25,000,000 |
|
2008 |
900,000,000 |
67,000,000 |
14,000,000 |
The 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 Issues Shares |
10,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
|
381,000,000 |
67,000,000 |
|
Current Assets |
|
271,000,000 |
57,000,000 |
|
-Quick Assets |
|
254,000,000 |
57,000,000 |
|
-Inventories |
|
17,000,000 |
- |
|
Fixed Assets |
|
110,000,000 |
10,000,000 |
|
-Investment |
|
|
|
|
-Tangibles |
|
- |
- |
|
-Intangibles |
|
- |
- |
|
Total Liabilities |
|
293,000,000 |
3,000,000 |
|
Current Liabilities |
|
291,000,000 |
2,000,000 |
|
Fixed Liabilities |
|
1,000,000 |
1,000,000 |
|
Capital Stock |
|
50,000,000 |
50,000,000 |
|
Capital Surplus |
|
- |
- |
|
Profit Surplus |
|
39,000,000 |
14,000,000 |
|
Capital Adjustment |
|
- |
- |
|
Total Equity |
|
89,000,000 |
64,000,000 |
|
Liab. & Shareholder’s Equity |
|
381,000,000 |
67,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
|
1,772,000,000 |
900,000,000 |
|
Cost of Sold Goods |
|
1,656,000,000 |
839,000,000 |
|
Gross Profit |
|
116,000,000 |
61,000,000 |
|
Selling & Admin. Expenses |
|
90,000,000 |
56,000,000 |
|
Operating Income |
|
26,000,000 |
5,000,000 |
|
Non-Operating Income |
|
30,000,000 |
39,000,000 |
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Non-Operating Expenses |
|
28,000,000 |
28,000,000 |
|
Income Before Taxes |
|
28,000,000 |
16,000,000 |
|
Income Taxes Expenses |
|
3,000,000 |
2,000,000 |
|
Net Income |
|
25,000,000 |
14,000,000 |
|
Main Products & Services |
Chemicals, Food Additives and Toxic
Chemicals Polyurethane Hardner |
|
Customers |
PENINSULA POLYMERS LLC. 920 EAST 14TH AVE SUITE 201 NORTH KANSAS
CI, USA |
|
Competitors |
YEEYOUNG CERACHEM CO., LTD. RM. 722, SUSEO HYUNDAI VENTURE VILLE, 713,
SUSEO-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-420-0331 FAX:+82-2-424-1877 HAXION SPECIALTY CHEMICALS KOREA CO., LTD. 580-3, HWASAN-RI, ONSAN-EUP, ULJU-GUN,
ULSAN, KOREA TEL:+82-52-231-5174 FAX:+82-52-231-5028 YOUNG-HI CHEMICALS LTD. RM. 401, JUNGANG BLDG., 411-18, DOGOK
2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-572-8516 FAX:+82-2-572-8516 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Overseas Office |
SH POLYCHEM
CORP.(CANADA OFFICE) NO.902, 28,
WILLIAM CARSON CRES. TORONTO, ON, CANAADA, M2P 2HI TEL:+1-647-350-7334 |
(Activity & Markets)
The Subject deals
with the companies in Singapore and USA.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.29 |
|
UK Pound |
1 |
Rs.83.96 |
|
Euro |
1 |
Rs.71.88 |
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 |
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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 |
|
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.