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Report Date : |
13.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
EATON AUTOMOTIVE CONTROLS LIMITED |
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Registered Office : |
446-5, Mogok-dong, Pyeongtaek-si, Gyeonggi-do, Korea, Zip Code 459-040 |
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Country : |
South Korea |
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Financials (as on) : |
31.12.2010 |
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Date of Incorporation : |
03.12.1997 |
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Com. Reg. No.: |
622-81-19079 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Wholesaler of Auto Parts |
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No. of Employees : |
64 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 – 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 |
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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 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 |
EATON
AUTOMOTIVE CONTROLS LIMITED (Korean
Company Name : “이튼오토모티브콘트롤스(유)”) |
|
Registered Address |
446-5, Mogok-dong, Pyeongtaek-si, Gyeonggi-do, Korea |
|
Zip Code |
459-040 |
|
Tel |
+82-31-610-7475 |
|
Fax |
+82-31-666-7201 |
|
Trading
Address |
446-5, Mogok-dong, Pyeongtaek-si,
Gyeonggi-do, Korea (New Address System : 15, Sandan-ro 16beon-gil, Pyeongtaek-si,
Gyeonggi-do, Korea) |
|
Tel |
+82-31-610-7475 |
|
Fax |
+82-31-666-7201 |
|
Type |
Export/Import |
|
Industry |
Wholesales of Auto Parts |
|
Main Business |
Drive Motor, Main Control Valve, Remote
Control Valve |
|
Established (mm/dd/yyyy) |
12/03/1997 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Valves(40141600) |
|
Sell |
Control valves(40141609) |
|
Name |
Kim Chang-Bum |
|
Address |
Suite 103-1101, 58, Banpo-daero, Seocho-gu,
Seoul, Korea |
|
Date of Birth |
08/26/1959 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
10,718,000,000 |
|
Employees |
64 |
|
Formation |
Limited
Liability Company |
|
Bank Details |
Korea Exchange Bank-Songtan Branch |
|
Corporate Registered No. |
131314-0001550 |
|
Business Registered No. |
622-81-19079 |
|
Permit & Licenses |
Int’l
Trade No.: 12075748 |
|
Shareholder Position |
EATON INTERNATIONAL CORPORATION(USA) has
1005 shares. |
|
Company History |
12/03/1997 Incorporated as EATON AUTOMOTIVE
CONTROLS CO., LTD. 12/31/2012 Changed company type to Limited
Liability Company
from Co., Ltd by Shares, and Merged into Eaton Limited(110111-0796221) 12/31/2012 The Subject has been
disorganized. |
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|
|
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Job
Description |
Title |
Name |
Sex |
Nationality |
Inauguration
Date |
|
President
& CEO |
Mr. |
Kim Chang-Bum |
Male |
Korean |
12/03/1997 |
|
Director |
Mr. |
Kim Hyun-Soo |
Male |
Korean |
12/03/1997 |
|
Director |
Mr. |
Cutis James Huchins |
Male |
USA |
12/03/1997 |
|
Director |
Mr. |
Ray Tang |
Male |
Chinese |
12/03/1997 |
|
Year / Unit
: KRW |
Sales |
Assets |
Net Income |
|
2010 |
20,542,000,000 |
44,579,000,000 |
2,854,000,000 |
|
2009 |
15,021,000,000 |
41,878,000,000 |
-191,000,000 |
|
2008 |
15,475,000,000 |
40,931,000,000 |
-2,106,000,000 |
The full and latest
financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
Not
Applicable to Limited Liability Company |
|
Paid-Up Capital(KRW) |
10,718,000,000 |
|
Total Issued Shares |
Not
Applicable to Limited Liability Company |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of
12/31/2010 |
As of
12/31/2009 |
As of
12/31/2008 |
|
Total Assets |
44,579,000,000 |
41,878,000,000 |
40,931,000,000 |
|
Current Assets |
38,616,000,000 |
34,370,000,000 |
29,424,000,000 |
|
-Quick
Assets |
36,995,000,000 |
32,190,000,000 |
27,818,000,000 |
|
-Inventories |
1,621,000,000 |
2,179,000,000 |
1,606,000,000 |
|
Fixed
Assets |
5,963,000,000 |
7,508,000,000 |
11,507,000,000 |
|
-Investment |
2,000,000 |
2,000,000 |
3,554,000,000 |
|
-Tangibles |
4,244,000,000 |
5,804,000,000 |
6,179,000,000 |
|
-Intangibles |
- |
- |
- |
|
-Others |
1,717,000,000 |
1,703,000,000 |
1,774,000,000 |
|
Total Liabilities |
6,326,000,000 |
6,478,000,000 |
5,340,000,000 |
|
Current Liabilities |
4,137,000,000 |
4,756,000,000 |
3,396,000,000 |
|
Fixed Liabilities |
2,189,000,000 |
1,722,000,000 |
1,944,000,000 |
|
Capital Stock |
10,718,000,000 |
10,718,000,000 |
10,718,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
27,536,000,000 |
24,682,000,000 |
24,873,000,000 |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
38,254,000,000 |
35,400,000,000 |
35,591,000,000 |
|
Liab. & Shareholder’s Equity |
44,579,000,000 |
41,878,000,000 |
40,931,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of
12/31/2010 |
As of
12/31/2009 |
As of
12/31/2008 |
|
Sales |
20,542,000,000 |
15,021,000,000 |
15,475,000,000 |
|
Cost of Sold Goods |
14,797,000,000 |
14,406,000,000 |
12,921,000,000 |
|
Gross Profit |
5,745,000,000 |
615,000,000 |
2,555,000,000 |
|
Selling & Admin.
Expenses |
5,264,000,000 |
4,573,000,000 |
5,794,000,000 |
|
Operating Income |
481,000,000 |
-3,958,000,000 |
-3,239,000,000 |
|
Finance Income |
3,859,000,000 |
5,878,000,000 |
14,637,000,000 |
|
Finance Expenses |
2,230,000,000 |
3,779,000,000 |
12,699,000,000 |
|
Income Before Taxes |
2,111,000,000 |
-1,859,000,000 |
-1,301,000,000 |
|
Income Taxes Expenses |
20,000,000 |
-1,668,000,000 |
805,000,000 |
|
Income from
Continuous Business |
2,090,000,000 |
-191,000,000 |
-2,106,000,000 |
|
Income from Stopped
Business |
763,000,000 |
- |
- |
|
Net Income |
2,854,000,000 |
-191,000,000 |
-2,106,000,000 |
|
Suppliers |
EATON CORPORATION(USA) |
|
Customers |
EATON
LIMITED(110111-0796221) |
|
Competitors |
GKR CO., LTD. 4-1, DAEMANG-RI, GOA-EUP, GUMI-SI,
GYEONGSANGBUK-DO, KOREA TEL:+82-70-7791-0333 FAX:+82-54-482-4676 BROS CO., LTD. 940, WANGAM-DONG, JECHEON-SI,
CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-644-7188 FAX:+82-43-644-7180 OMRON ELECTRONICS KOREA CO., LTD. 21TH FL., B-DONG, KYOBO TOWER, 1303-22,
SEOCHO 4-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-3483-7789 FAX:+82-2-3483-7788 |
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
EATON LIMITED(110111-0796221) EATON CORPORATION EATON LP EATON FILTRATION EATON INDUSTRIES MANUFACTURING GMBH EATON PHOENIXTEC MMPL CO., LTD. |
(Activity & Markets)
Not Available.
Not Available.
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.27 |
|
UK Pound |
1 |
Rs.91.16 |
|
Euro |
1 |
Rs.77.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.