|
Report Date : |
17.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
EVERLITE KOREA
CO., LTD. |
|
|
|
|
Registered Office : |
534, Itaewon 2-dong, Yongsan-gu, Seoul |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2008 |
|
|
|
|
Date of Incorporation : |
30.03.2004 |
|
|
|
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Com. Reg. No.: |
106-86-27295 |
|
|
|
|
Legal Form : |
Co., Ltd by shares |
|
|
|
|
Line of Business : |
Wholesale of Synthetic Rubber and Plastics Materials |
|
|
|
|
No. of Employees : |
9 |
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 : |
Unknown |
|
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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 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 |
EVERLITE KOREA
CO., LTD. (Korean Company
Name : “한국에버라이트(주)”) |
|
Registered Address |
534, Itaewon 2-dong, Yongsan-gu, Seoul,
Korea |
|
Building |
5th Fl., Cheonwoo Bldg. |
|
Zip Code |
140-861 |
|
Tel |
+82-2-749-6763 |
|
Fax |
+82-2-749-6764 |
|
E-mail |
everlite@chol.com |
|
Website |
everlitekr.en.ec21.com |
|
|
|
|
Trading Address |
5th Fl., Cheonwoo Bldg., 534, Itaewon
2-dong, Yongsan-gu, Seoul, Korea (New Address System : 206,
Noksapyeong-daero, Yongsan-gu, Seoul, Korea) |
|
Tel |
+82-2-749-6763 |
|
Fax |
+82-2-749-6764 |
|
|
|
|
Type |
Export |
|
Industry |
Wholesale of Synthetic Rubber and Plastics Materials |
|
Main Business |
High Density Polyethylene, Phthalic Anhydride, Plasticizer, SBR,
Software Development |
|
Sub
Business |
Wholesale of Other Chemical Materials and Chemical Products |
|
Established (mm/dd/yyyy) |
03/30/2004 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Polystyrene resin(13111023) |
|
Sell |
High Density Polyethylene HDPE(13102017) |
|
Sell |
Polyvinyl Chloride PVC(13102030) |
|
Sell |
Polypropylene PP(13102022) |
|
Name |
Oh Se-Jin(Stanley J.) |
|
Address |
Suite 104-103, 807, Hannam-dong,
Yongsan-gu, Seoul, Korea |
|
Date of Birth |
11/22/1967 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
150,000,000 |
|
Employees |
9 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Woori Bank-Hanam Dong Branch |
|
Corporate Registered No. |
110111-2983983 |
|
Business Registered No. |
106-86-27295 |
|
Permit & Licenses |
Int’l Trade No.: 30048049 |
|
Shareholder Position |
N/A |
|
Company History |
03/30/2004 Incorporated as the present name 05/30/2009
Moved to Rm. 501, Hannamdong JY Tower, 739-16, Hannam-dong, Yongsan-gu, Seoul,
Korea from 124-7, Itaewon-dong, Yongsan-gu, Seoul, Korea 10/29/2010 Increased capital to
150,000,000 KRW from 100,000,000 KRW 11/24/2011 Moved to the present HQ address
from Rm. 501, Hannamdong JY Tower, 739-16, Hannam-dong, Yongsan-gu, Seoul,
Korea |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Oh Se-Jin(Stanley J.) |
Male |
Korean |
02/01/2007 |
|
Director |
M/S. |
Lim Yeom-Soon |
Female |
Korean |
02/01/2007 |
|
Auditor |
Mr. |
Kim Jung-Beom |
Male |
Korean |
02/01/2007 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
79,999,000,000 |
9,728,000,000 |
1,076,000,000 |
|
2010 |
63,457,000,000 |
8,166,000,000 |
458,000,000 |
|
2009 |
33,074,000,000 |
4,691,000,000 |
358,000,000 |
|
2008 |
|
|
|
|
2007 |
29,951,000,000 |
4,068,000,000 |
204,000,000 |
|
2006 |
20,304,000,000 |
2,234,000,000 |
150,000,000 |
|
2005 |
13,017,000,000 |
1,796,000,000 |
103,000,000 |
|
2004 |
3,000,000,000 |
|
|
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) |
400,000,000 |
|
Paid-Up Capital(KRW) |
150,000,000 |
|
Total Issued Shares |
30,000 |
|
Balance Sheet |
|||
|
Unit : Million Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
|
|
2,360 |
|
Current Assets |
|
|
1,937 |
|
-Quick Assets |
|
|
1,914 |
|
-Inventories |
|
|
23 |
|
Fixed Assets |
|
|
423 |
|
-Investment |
|
|
18 |
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
405 |
|
Total Liabilities |
|
|
1,553 |
|
Current Liabilities |
|
|
1,540 |
|
Fixed Liabilities |
|
|
13 |
|
Capital Stock |
|
|
100 |
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
707 |
|
Capital Adjustment |
|
|
|
|
Total Equity |
|
|
807 |
|
Liab. & Shareholder’s Equity |
|
|
2,360 |
|
Income Statement |
|||
|
Unit : Million Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
|
|
27,505 |
|
Cost of Sold Goods |
|
|
24,270 |
|
Gross Profit |
|
|
3,235 |
|
Selling & Admin. Expenses |
|
|
2,110 |
|
Operating Income |
|
|
1,125 |
|
Non-Operating Income |
|
|
862 |
|
Non-Operating Expenses |
|
|
1,619 |
|
Income Before Taxes |
|
|
367 |
|
Income Taxes Expenses |
|
|
70 |
|
Net Income |
|
|
297 |
|
Main Products & Services |
PLASTICS (POLYMERS) HIGH DENSITY POLYETHYLENE(HDPE) LOW DENSITY POLYETHYLENE(LDPE) LINEAR LOW DENSITY POLYETHYLENE(LLDPE) POLYPROPYLENE(PP) POLYPROPYLENE(PP) ETHYLENE VINYL CHLORIDE(PVC) POLY OXY METHYLENE(POM) POLY AMIDE 6,66 (NYLON 6,66) POLYPROPYLENE COMPOUNDS(PP CPD) GENERAL PURPOSE POLYSTYRENE(HIPS) HIGH IMPACT POLYSTYRENE(HIPS) ABS & SAN RESIN POLYESTER CHIP for BOTTLE & YARN PSF CHEMICALS POLYOL & TDI 80/20 PLASTICS FILM (PVC, PET, NYLON) PLASTICS SHEET (PC, PP, ABS) WHITE OIL (PARAFFIN OIL) PLASTICIZERS (DOP, DBP, DINP, DIDP, DOA) PHTHALIC ANHYDRIDE (PA) MALEIC ANHYDRIDE (MA) POLYACRYLAMIDE (PAM) KOH & K2CO3 PE & PP WAX RUBBER (SBR,NBR & BR) ZINC OXIDE TIO2 LABSA OTHERS FISHING EQUIPMENTS such as NET, WIRE TIRE for CARS (NEW, USED & RETREATED) BATTERY for CAR, SHIP & INDUSTRY DENTAL MATERIALS |
|
Competitors |
WOORI P & C CORPORATION 7TH FL., HIGLO BLDG., 914-1, DAECHI 4-DONG,
GANGNAM-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 JW & Y CORPORATION RM. 903, HYODEOK BLDG., 32, EULJIRO 1-GA,
JUNG-GU, SEOUL, KOREA TEL:+82-2-773-4062 FAX:+82-2-773-4063 |
The subject exports
to Brazil, China, Columbia and Peru.
Not Available.
--------
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.39 |
|
|
1 |
Rs.89.89 |
|
Euro |
1 |
Rs.77.72 |
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.