|
Report Date : |
02.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SINIL INDUSTRY
CORPORATION CO., LTD. |
|
|
|
|
Registered Office : |
Rm. 1304, E&C Dream Tower 46, Yangpyeongdong 3-ga,
Yeongdeungpo-gu, Seoul, Korea 150-103 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Date of Incorporation : |
11.01.1974 |
|
|
|
|
Com. Reg. No.: |
107-81-13974 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Manufacture of Other Insulated Wire and Cable |
|
|
|
|
No. of Employees : |
10 |
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 : |
Slow |
|
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 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 |
SINIL INDUSTRY
CORPORATION CO., LTD. (Korean Company
Name : “신일공업(주)”) |
|
Registered Address |
46, Yangpyeongdong 3-ga, Yeongdeungpo-gu,
Seoul, Korea |
|
Building |
Rm. 1304, E&C Dream Tower |
|
Zip Code |
150-103 |
|
Tel |
+82-2-2628-0041 |
|
Fax |
+82-2-2628-0040 |
|
E-mail |
sinil@korea.com |
|
Website |
www.sinil.com |
|
Trading Address |
Rm. 1304, E&C Dream Tower, 46,
Yangpyeongdong 3-ga, Yeongdeungpo-gu, Seoul, Korea |
|
Tel |
+82-2-2628-0041 |
|
Fax |
+82-2-2628-0040 |
|
Other Address-Yongin Factory |
503-7, Yubang-dong, Cheoin-gu, Yongin-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-334-3260 |
|
Fax |
+82-31-334-3260 |
|
Other Address-Anseong Factory |
82-1, Sanbuk-ri, Iljuk-myeon, Anseong-si,
Gyeonggi-do, Korea |
|
Tel |
+82-31-673-4142 |
|
Fax |
+82-31-673-4121 |
|
Other Address-Branch |
552-2, Dangsan-dong 3-ga, Yeongdeungpo-gu, Seoul,
Korea |
|
Tel |
|
|
Fax |
|
|
Type |
Export/Import |
|
Industry |
Manufacture of Other Insulated Wire and Cable |
|
Main Business |
Communication Materials, Heat Shrinkable Sleeve |
|
Sub
Business |
|
|
Established (mm/dd/yyyy) |
11/01/1974 |
The Subject owns
the premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cable splicing kits(39121718) |
|
Name |
Kim Soon-Il |
|
Address |
Suite 422-1902, 42, Dangsan-dong
5-ga, Yeongdeungpo-gu, Seoul, Korea |
|
Date of Birth |
11/23/1963 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
500,000,000 |
|
Employees |
10 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Kookmin Bank-Dangsan Dong Branch Woori Bank-Youngdungpo Seo Branch |
|
Corporate Registered No. |
110111-0171390 |
|
Business Registered No. |
107-81-13974 |
|
Permit & Licenses |
07/27/2001 ISO 9001 by ZURICH 08/25/2002 ISO 9001 by ICR Int’l Trade No.: 11365378 |
|
Shareholder Position |
N/A |
|
Company History |
11/01/1974 Incorporated as the present name 02/27/2001 Increased the authorized shares
to 500,000 shares from 8,000 shares 02/28/2001 Increased capital to 200,000,000
KRW from 50,000,000 KRW 11/27/2003 Increased capital to 350,000,000
KRW from 200,000,000 KRW 03/26/2005 Increased capital to 500,000,000
KRW from 350,000,000 KRW 10/27/2006 Moved to the present HQ address
from 552-2, Dangsan-dong 3-ga, Yeongdeungpo-gu, Seoul, Korea |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Soon-Il |
Male |
Korean |
09/20/2002 |
|
Director |
M/S. |
Kim Soon-Joo |
Female |
Korean |
09/29/2005 |
|
Director |
M/S. |
Lee Won-Sun |
Female |
Korean |
09/29/2005 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2010 |
1,650,000,000 |
|
|
|
2009 |
1,650,000,000 |
|
|
|
2008 |
1,885,000,000 |
|
|
|
2007 |
2,710,000,000 |
|
|
|
2006 |
3,026,000,000 |
5,451,000,000 |
130,000,000 |
|
2005 |
2,601,000,000 |
5,016,000,000 |
105,000,000 |
|
2004 |
2,248,000,000 |
5,212,000,000 |
55,000,000 |
|
2003 |
3,016,000,000 |
5,046,000,000 |
166,000,000 |
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) |
5,000,000,000 |
|
Paid-Up Capital(KRW) |
500,000,000 |
|
Total Issued Shares |
50,000 |
|
Main Products & Services |
Joint closure system for non-pressurised
telephone network Heat-shrinkable cable sleeves for CATV
network |
|
Customers |
KT CORPORATION(110111-1468754) |
|
Competitors |
LS CABLE LTD. 12TH FL., LS TOWER, 1026-6, HOGYE 1-DONG,
DONGAN-GU, ANYANG-SI, GYEONGGI-DO, KOREA TEL:+82-2-2189-9114 FAX:+82-2-2189-9259 TSC MEMSYS CO., LTD. 60-29, GASAN-DONG, GEUMCHEON-GU, SEOUL,
KOREA TEL:+82-2-3282-1900 FAX:+82-2-858-8529 UB PRECISION CO., LTD. 603, JEIL-RI, YANGJI-MYEON, CHEOIN-GU,
YONGIN-SI, GYEONGGI-DO, KOREA TEL:+82-31-330-3100 FAX:+82-31-330-3033 |
(Activity & Markets)
The Subject deals
with the companies in China, India, Iran, and Saudi Arabia.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.83 |
|
|
1 |
Rs.89.22 |
|
Euro |
1 |
Rs.72.48 |
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.