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Report Date : |
04.06.2013 |
IDENTIFICATION DETAILS
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Name : |
GE WATER & PROCESS TECHNOLOGIES LIMITED |
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Registered Office : |
605, Yongje-dong, Iksan-si, Jeollabuk-do, Korea 570-350 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
29.08.1991 |
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Com. Reg. No.: |
403-81-07502 |
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Legal Form : |
Limited Company |
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Line of Business : |
Manufacture of All Other Chemical Products n.e.c |
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No. of Employees : |
60 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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 – 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 |
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Low |
A2 |
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Moderate |
B1 |
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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 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 |
Basic
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Company Name |
GE WATER & PROCESS TECHNOLOGIES LIMITED |
|
Registered Address |
605, Yongje-dong, Iksan-si, Jeollabuk-do, Korea |
|
Zip Code |
570-350 |
|
Tel |
+82-63-835-6480 |
|
Fax |
+82-63-835-6484 |
|
E-mail |
gewptkorea@ge.com |
|
Website |
www.gewater.com |
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Trading Address |
605, Yongje-dong, Iksan-si, Jeollabuk-do, Korea |
|
Tel |
+82-63-835-6480 |
|
Fax |
+82-63-835-6484 |
|
Other Address |
Rm. 1304, BYC Bldg., 648-1, Yeoksam 1-dong, Gangnam-gu, Seoul, Korea |
|
Tel |
+82-2-3452-6417 |
|
Fax |
+82-2-3452-6418 |
|
Type |
Export/Import |
|
Industry |
Manufacture of All Other Chemical Products n.e.c. |
|
Main Business |
Cooling & Boiler Product |
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Established (mm/dd/yyyy) |
08/29/1991 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Water treatment consumables(47101600) |
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Sell |
Water and wastewater treatment supply and disposal |
|
Name |
Cho Yoon-Han |
|
Address |
Suite 114-804, 88, Woninjae-ro, Yeonsu-gu,
Incheon, Korea |
|
Date of Birth |
06/08/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
590,000,000 |
|
Employees |
60 |
|
Formation |
Limited Company Foreign Direct Investment Corporation |
|
Bank Details |
Citibank, Korea-Yeoksam Branch |
|
Corporate Registered No. |
214914-0019634 |
|
Business Registered No. |
403-81-07502 |
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Permit & Licenses |
09/2009 ISO 9001/ISO 14001 Int’l Trade No.: 498997 |
|
Shareholder Position |
GE Betz International, Inc. has 100%
shares. |
|
Company History |
08/29/1991 Incorporated with 100% investment of Hurcules Inc-USA 10/25/1993 Registered as a Foreign Direct Investment Corporation 07/12/1996 Changed company name to Betz Dearbon Korea Co., Ltd. 04/28/2002 The subject’s shares held by Hurcules Inc-USA sold to GE Betz International, Inc. 07/16/2002 Changed company name to GE Betz Korea co., Ltd. 12/11/2006 GE Betz Korea co., Ltd. has been closed and changed the
company type to Limited Liability Company, and incorporated as the present
name |
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|
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Cho Yoon-Han |
Male |
Korean |
09/28/2012 |
|
Director |
Mr. |
Bradley Bruce Becker |
Male |
USA |
05/31/2012 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
21,511,000,000 |
14,748,000,000 |
1,951,000,000 |
|
|
2011 |
22,192,000,000 |
18,328,000,000 |
2,260,000,000 |
|
2010 |
20,065,000,000 |
16,363,000,000 |
2,236,000,000 |
|
Authorized Capital(KRW) |
Not Applicable to Limited Company |
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Paid-Up Capital(KRW) |
590,000,000 |
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Total Issued Shares |
Not Applicable to Limited Company |
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Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
14,748,000,000 |
18,328,000,000 |
16,363,000,000 |
|
Current Assets |
9,788,000,000 |
13,895,000,000 |
11,929,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
4,960,000,000 |
4,433,000,000 |
4,434,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
4,845,000,000 |
3,633,000,000 |
3,928,000,000 |
|
Current Liabilities |
4,845,000,000 |
3,633,000,000 |
3,438,000,000 |
|
Fixed Liabilities |
- |
- |
490,000,000 |
|
Capital Stock |
590,000,000 |
590,000,000 |
590,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
9,903,000,000 |
14,695,000,000 |
12,435,000,000 |
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Liab. & Shareholder’s Equity |
14,748,000,000 |
18,328,000,000 |
16,363,000,000 |
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Income Statement |
|||
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Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
21,511,000,000 |
22,192,000,000 |
20,065,000,000 |
|
Cost of Sold Goods |
11,936,000,000 |
12,671,000,000 |
10,866,000,000 |
|
Gross Profit |
9,575,000,000 |
9,521,000,000 |
9,199,000,000 |
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Selling & Admin. Expenses |
8,674,000,000 |
7,720,000,000 |
8,490,000,000 |
|
Operating Income |
901,000,000 |
1,801,000,000 |
709,000,000 |
|
Non-Operating Income |
1,680,000,000 |
1,392,000,000 |
2,404,000,000 |
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Non-Operating Expenses |
153,000,000 |
141,000,000 |
151,000,000 |
|
Income Before Taxes |
2,428,000,000 |
3,053,000,000 |
2,962,000,000 |
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Income Taxes Expenses |
477,000,000 |
793,000,000 |
726,000,000 |
|
Net Income |
1,951,000,000 |
2,260,000,000 |
2,236,000,000 |
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Main Products & Services |
Chemicals for water & water waste
treatment |
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Detailed Products Spec. |
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Technologies Acquired |
|
|
Suppliers |
The Subject is using tools, vehicles and
computers by leasing from GE Capital Korea. |
|
Customers |
YEOCHUN NCC CO., LTD.(110111-1839096) S-OIL CORPORATION(110111-0189955) GS-CALTEX CORPORATION(110111-0078819) |
|
Competitors |
JUNYOUNG CORPORATION 6TH FL., GREEN POINT BLDG., 655-12,
SINSA-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-547-8595 FAX:+82-2-547-8598 NAMDUCK MOOLSAN CO., LTD. RM. 1014, YEOUIDO DEPT. STORE, 36-2,
YEOUIDO-DONG, YEONGDEUNGPO-GU, SEOUL, KOREA TEL:+82-2-3774-0900 FAX:+82-2-3774-0901 KEMIRA KOREA CORPORATION 13TH FL., YEOSAM BLDG., 648-23, YEOKSAM
1-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-318-3770 FAX:+82-2-318-3776 |
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Affiliates |
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Overseas Office |
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Liaison Office |
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Overseas Branch |
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Joint Venture |
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Subsidiary |
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Corporate Ownership |
GE BETZ INTERNATIONAL, INC. |
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Major Shareholders |
GE BETZ INTERNATIONAL, INC. |
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Cooperative Enterprise |
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Sales/ Unit :Mil KRW |
2012 |
2011 |
2010 |
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Export |
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Domestic |
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Total |
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The Subject exports to Japan and China.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.57 |
|
|
1 |
Rs.86.15 |
|
Euro |
1 |
Rs.73.64 |
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 |
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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.