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Report Date : |
14.06.2013 |
IDENTIFICATION DETAILS
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Name : |
WORLD ENERGY COMPANY LIMITED |
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Registered Office : |
3rd Fl., 662-2, Daeyami-dong, Gunpo-si, Gyeonggi-do, Korea 435-060 |
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Country : |
South Korea |
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Date of Incorporation : |
20.02.2004 |
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Com. Reg. No.: |
124-86-17946 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Manufacture of Industrial Refrigerators and Refrigerating
Equipment |
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No. of Employees : |
23 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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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
|
Company Name |
WORLD ENERGY
COMPANY LIMITED (Korean Company
Name : “(주)월드에너지”) |
|
Registered Address |
3rd Fl., 662-2, Daeyami-dong, Gunpo-si,
Gyeonggi-do, Korea |
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Zip Code |
435-060 |
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Tel |
+82-31-501-2702 |
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Fax |
+82-31-501-2705 |
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E-mail |
shoh@worldenergy.kr |
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Website |
www.worldenergy.co.kr |
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Trading Address |
3rd Fl., 662-2, Daeyami-dong, Gunpo-si,
Gyeonggi-do, Korea (New Address System : 7, Daeya 1-ro,
Gunpo-si, Gyeonggi-do, Korea) |
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Tel |
+82-31-501-2702 |
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Fax |
+82-31-501-2705 |
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Type |
Export/Import |
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Industry |
Manufacture of Industrial Refrigerators and Refrigerating Equipment |
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Main Business |
Heat Pump, Absorption Heat Pump, Heat Pump System, Waste Heat Recovery
System |
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Established (mm/dd/yyyy) |
02/20/2004 |
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Activity |
Detailed Products (UNSPSC) |
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Sell |
Heat exchangers(40101802) |
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Name |
Ryu Jin-Sang |
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Address |
Suite 382-203, 34, Ogeum-ro, Gunpo-si,
Gyeonggi-do, Korea |
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Date of Birth |
10/24/1955 |
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Title |
President & CEO |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
220,000,000 |
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Employees |
23 |
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Formation |
Co., Ltd by Shares |
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Bank Details |
Industrial bank of Korea-Sanbon Station
Branch |
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Corporate Registered No. |
1348110-092015 |
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Business Registered No. |
124-86-17946 |
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Permit & Licenses |
03/2007 UL Mark |
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Shareholder Position |
N/A |
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Company History |
02/20/2004 Incorporated as the present name 11/30/2012 Moved to the present HQ address
from 897-68, Geongeon-dong, Sangrok-gu, Ansan-si, Gyeonggi-do, Korea |
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Ryu Jin-Sang |
Male |
Korean |
11/30/2012 |
|
Director |
M/S. |
Lee Ja-Kyung |
Female |
Korean |
11/30/2012 |
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Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
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2011 |
8,917,000,000 |
2,753,000,000 |
106,000,000 |
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2010 |
12,655,000,000 |
3,527,000,000 |
468,000,000 |
|
2009 |
2,658,000,000 |
796,000,000 |
26,000,000 |
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2008 |
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2007 |
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2006 |
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2005 |
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2004 |
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The latest &
full financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
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Authorized Capital(KRW) |
500,000,000 |
|
Paid-Up Capital(KRW) |
220,000,000 |
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Total Issued Shares |
44,000 |
|
Main Products & Services |
Heat Pump, Absorption Heat Pump, Heat Pump System, Waste Heat Recovery
System |
|
Competitors |
DOOWON CLIMATE CONTROL CO., LTD. SAN 16-1, WONNAM-RI, EUMBONG-MYEON,
ASAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-546-2000 FAX:+82-41-541-6032 ZEUS CO., LTD. 164-1, BUSAN-DONG, OSAN-SI, GYEONGGI-DO,
KOREA TEL:+82-31-377-9500 FAX:+82-31-377-3305 KWANGSHIN MACHINE INDUSTRY CO., LTD. 180-12, OGOK-RI, CHILWON-MYEON, HAMAN-GUN,
GYEONGSANGNAM-DO, KOREA TEL:+82-55-589-8000 FAX:+82-55-589-8040 |
(Activity &
Markets)
Not Available.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.58.41 |
|
|
1 |
Rs.91.62 |
|
Euro |
1 |
Rs.78.12 |
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 |
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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 |
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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 |
|
-- |
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.