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Report Date : |
15.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
SHINWHA FOIL CO., LTD. |
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|
|
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Registered Office : |
Rm. 710, Olympia Officetel 196-1, Jamsilbon-dong,
Songpa-gu, Seoul, Korea 138-759 |
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|
|
|
Country : |
South Korea |
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|
|
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Financials (as on) : |
31.12.2009 |
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|
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Date of Incorporation : |
07.01.1987 |
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Com. Reg. No.: |
219-81-04346 |
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|
|
|
Legal Form : |
Co., Ltd by shares |
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|
|
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Line of Business : |
Wholesale of Materials for Recycling and Other Specialized
Goods |
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|
|
|
No. of Employees : |
1 |
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 |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
South Korea |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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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 |
SHINWHA FOIL
CO., LTD. (Korean Company
Name : “신화호일(주)”) |
|
Registered Address |
196-1, Jamsilbon-dong, Songpa-gu, Seoul,
Korea |
|
Building |
Rm. 710, Olympia Officetel |
|
Zip Code |
138-759 |
|
Tel |
+82-2-421-3347 |
|
Fax |
+82-2-421-3423 |
|
E-mail |
swfoil@hanafos.com;shinwha@kotis.net |
|
Website |
www.swfoil.com |
|
Trading Address |
Rm. 710, Olympia Officetel, 196-1,
Jamsilbon-dong, Songpa-gu, Seoul, Korea |
|
Tel |
+82-2-421-3347 |
|
Fax |
+82-2-421-3423 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Materials for Recycling and Other Specialized Goods
n.e.c. |
|
Main Business |
Aluminium Foil, Packing Material, Dry Pack on Roll, Flexible Film |
|
Sub
Business |
Cookies & Beverage |
|
Established (mm/dd/yyyy) |
01/07/1987 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Packaging paper(14121504) |
|
Sell |
Lamination film(44102001) |
|
Sell |
Packaging films(24141514) |
|
Name |
Kim Ki-Wook |
|
Address |
Suite 13-507, Jamsil-dong, Songpa-gu,
Seoul, Korea |
|
Date of Birth |
05/05/1950 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
150,000,000 |
|
Employees |
1 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Shinhan Bank-Beobjo Town Branch Woori Bank-Jamsil Nam Branch |
|
Corporate Registered No. |
110111-0515853 |
|
Business Registered No. |
219-81-04346 |
|
Permit & Licenses |
Int’l Trade No.: 870405 |
|
Shareholder Position |
N/A |
|
Company History |
04/1982 Established as SHINWHA CORPORATION(sole Proprietorship) 01/07/1987 Incorporated as
SHINWHA TRADING CO., LTD. 03/20/2001 Changed company name to the
present name 09/09/2010 Increased capital to 150,000,000 KRW from 50,000,000 KRW |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Ki-Wook |
Male |
Korean |
03/20/1993 |
|
Director |
M/S. |
Jung Jin-Yi |
Female |
Korean |
03/20/1993 |
|
Auditor |
M/S. |
Yoon Sang-Soon |
Female |
Korean |
03/20/1993 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2010 |
|
|
|
|
2009 |
2,397,000,000 |
1,357,000,000 |
56,000,000 |
|
2008 |
1,799,000,000 |
1,193,000,000 |
20,000,000 |
|
2007 |
2,233,000,000 |
|
|
|
2006 |
2,274,000,000 |
1,240,000,000 |
-473,000,000 |
|
2005 |
3,885,000,000 |
1,879,000,000 |
- |
|
2004 |
6,144,000,000 |
|
|
|
2003 |
2,340,000,000 |
|
|
The 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) |
150,000,000 |
|
Total Issued Shares |
15,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
|
1,357,000,000 |
1,193,000,000 |
|
Current Assets |
|
1,332,000,000 |
1,164,000,000 |
|
-Quick Assets |
|
464,000,000 |
396,000,000 |
|
-Inventories |
|
869,000,000 |
768,000,000 |
|
Fixed Assets |
|
25,000,000 |
29,000,000 |
|
-Investment |
|
9,000,000 |
13,000,000 |
|
-Tangibles |
|
1,000,000 |
1,000,000 |
|
-Intangibles |
|
15,000,000 |
15,000,000 |
|
Total Liabilities |
|
2,001,000,000 |
1,893,000,000 |
|
Current Liabilities |
|
1,965,000,000 |
1,861,000,000 |
|
Fixed Liabilities |
|
37,000,000 |
32,000,000 |
|
Capital Stock |
|
50,000,000 |
50,000,000 |
|
Capital Surplus |
|
- |
- |
|
Profit Surplus |
|
-694,000,000 |
-750,000,000 |
|
Capital Adjustment |
|
- |
- |
|
Total Equity |
|
-644,000,000 |
-700,000,000 |
|
Liab. & Shareholder’s Equity |
|
1,357,000,000 |
1,193,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
|
2,397,000,000 |
1,799,000,000 |
|
Cost of Sold Goods |
|
1,905,000,000 |
1,337,000,000 |
|
Gross Profit |
|
492,000,000 |
462,000,000 |
|
Selling & Admin. Expenses |
|
332,000,000 |
328,000,000 |
|
Operating Income |
|
160,000,000 |
134,000,000 |
|
Non-Operating Income |
|
36,000,000 |
35,000,000 |
|
Non-Operating Expenses |
|
140,000,000 |
148,000,000 |
|
Income Before Taxes |
|
56,000,000 |
20,000,000 |
|
Income Taxes Expenses |
|
- |
- |
|
Net Income |
|
56,000,000 |
20,000,000 |
|
Main Products & Services |
Printed and Laminated Flexible Film Printed Aluminium foil Backed with Paper Plain Aluminium foil Backed with Paper Plain Aluminium foil from 6 micron Printed Aluminium foil hard temper for
blister packing Dry tattoo in roll Rotogravure Printing Machine Packaging Machine |
|
Competitors |
IPAK CO., LTD. 835-2, WONSI-DONG, DANWON-GU, ANSAN-SI,
GYEONGGI-DO, KOREA TEL:+82-31-489-2600 FAX:+82-31-492-5006 DAEHYUN ST CO., LTD. 178-4, SEOGEUN-RI, PALTAN-MYEON,
HWASEONG-SI, GYEONGGI-DO, KOREA TEL:+82-31-353-6024 FAX:+82-31-353-6037 BSP INTERNATIONAL CO. RM. 915, SEONREUNG DAEWOO I-VILLE, 890-49,
DAECHI 4-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-557-2057 FAX:+82-2-557-2059 |
(Activity &
Markets)
The Subject exports
to Bangladesh, Iran, Pakistan and Saudi Arabia.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.87 |
|
|
1 |
Rs.83.59 |
|
Euro |
1 |
Rs.72.37 |
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.