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Report Date : |
14.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHEMTOWN CO., LTD. |
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|
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Registered Office : |
446-2, Bangbae 2-dong, Seocho-gu, Seoul, Korea Rm. 701, Agriculture,
Fisheries & Livestock News Bldg. 137-818 |
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Country : |
South Korea |
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Date of Incorporation : |
09.11.2001 |
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Com. Reg. No.: |
113-81-72911 |
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Legal Form : |
Co., Ltd by shares |
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Line of Business : |
Wholesale of Other Chemical Materials and Chemical Products |
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No. of Employees : |
3 |
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 : |
No Complaints |
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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 |
|
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 |
CHEMTOWN CO., LTD. |
|
Registered Address |
446-2, Bangbae 2-dong, Seocho-gu, Seoul, Korea |
|
Building |
Rm. 701, Agriculture, Fisheries & Livestock News Bldg. |
|
Zip Code |
137-818 |
|
Tel |
+82-2-865-6014 |
|
Fax |
+82-2-865-6018 |
|
E-mail |
jinhyang@chemtown.co.kr;essechem@hanmail.net |
|
Trading Address |
Rm. 701, Agriculture, Fisheries & Livestock News Bldg., 446-2,
Bangbae 2-dong, Seocho-gu, Seoul, Korea |
|
Tel |
+82-2-865-6014 |
|
Fax |
+82-2-865-6018 |
|
Type |
Export |
|
Industry |
Wholesale of Other Chemical Materials and Chemical Products |
|
Main Business |
Plasticizers, Phthalic Anhydride, Polyethylene |
|
Established (mm/dd/yyyy) |
11/09/2001 |
The Subject Company occupies the premises of
registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Plasticizers(12162000) |
|
Sell |
Aromatic or heterocyclic compounds(12352005) |
|
Sell |
Polyethylene(13111016) |
|
Sell |
Resins(13111000) |
|
Sell |
Polyolefin foam(13111301) |
|
Name |
Lim Dong-Su |
|
Address |
Suite 303-1706, 1714, Sillim-dong,
Gwanak-gu, Seoul, Korea |
|
Date of Birth |
02/27/1965 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
500,000,000 |
|
Employees |
3 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Korea Exchange Bank-Yoido Branch |
|
Corporate Registered No. |
110111-2371675 |
|
Business Registered No. |
113-81-72911 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
11/09/2001 Incorporated as ESSE CHEMICALS
CORPORATION 02/25/2009 Moved to the present HQ address
from Rm.1103, 103-8, Guro-dong, Guro-gu, Seoul, Korea 02/25/2009 Changed company name to the present name 02/25/2009 Increased the authorized shares to 1,000,000 shares from
40,000 shares 02/26/2009 Increased capital to 500,000,000 KRW from 50,000,000 KRW |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Lim Dong-Su |
Male |
Korean |
11/22/2010 |
|
Auditor |
M/S. |
Lim Na-Young |
Female |
Korean |
03/31/2004 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
32,180,000,000 |
3,669,000,000 |
409,000,000 |
|
|
2010 |
47,077,000,000 |
2,663,000,000 |
541,000,000 |
|
2009 |
31,857,000,000 |
2,078,000,000 |
263,000,000 |
|
2008 |
25,318,340,000 |
1,134,327,000 |
177,820,000 |
|
2007 |
12,570,815,000 |
786,171,000 |
55,803,000 |
|
2006 |
5,233,243,000 |
619,747,000 |
31,315,000 |
|
2005 |
3,516,000,000 |
|
|
|
2004 |
8,114,000,000 |
|
|
|
2003 |
3,343,000,000 |
|
|
The latest & 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 |
100,000 |
|
Main Products & Services |
Plasticizers, Phthalic Anhydride, Polyethylene |
|
Detailed Products Spec. |
|
|
Technologies Acquired |
|
|
Suppliers |
|
|
Customers |
|
|
Competitors |
SAMI TRADING INC. B-707, SAMSUNG TRAPALACE, 559, DOHWA-DONG,
MAPO-GU, SEOUL, KOREA TEL:+82-2-3272-9912 FAX:+82-2-3272-9971 WOORI P & C CORPORATION RM. 905, OLYMPIA BLDG., 196,
JAMSILBON-DONG, SONGPA-GU, SEOUL, KOREA TEL:+82-2-3432-2800 FAX:+82-2-3432-4695 HANYONG CORPORATION RM. 814, MILLIANA 2-CHA OFFICETEL, 79-5, GARAKBON-DONG,
SONGPA-GU, SEOUL, KOREA TEL:+82-2-3401-9850 FAX:+82-2-3401-9870 |
|
Sales/ Unit :Mil KRW |
2011 |
2010 |
2009 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject exports to China and Thailand.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.54 |
|
UK Pound |
1 |
Rs.88.05 |
|
Euro |
1 |
Rs.72.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.