|
Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TAESUNG AFFORESTATION INDUSTRY CO., LTD. |
|
|
|
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Registered Office : |
39, Geumgok-dong, Bundang-gu, Seongnam-si, Gyeonggi-do, Korea 463-804 |
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|
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Country : |
South Korea |
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|
|
|
Financials (as on) : |
31.12.2009 |
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|
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Date of Incorporation : |
25.10.1995 |
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Com. Reg. No.: |
213-86-16460 |
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|
|
|
Legal Form : |
Co., Ltd by
shares |
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|
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Line of Business : |
Wholesale of Seeds and seedling |
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|
|
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No. of Employees : |
10 |
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 |
TAESUNG AFFORESTATION INDUSTRY CO., LTD. (Korean Company Name : “태성녹화산업(주)”) |
|
Registered Address |
39, Geumgok-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea |
|
Zip Code |
463-804 |
|
Tel |
+82-31-719-2838 |
|
Fax |
+82-31-719-2837 |
|
E-mail |
ts@taesung21.com;tsung2@chol.com |
|
Website |
www.taesung21.com |
|
Trading Address |
39, Geumgok-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea (New Address System : 45, Soetgol-ro,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea) |
|
Tel |
+82-31-719-2838 |
|
Fax |
+82-31-719-2837 |
|
Type |
Import/Export |
|
Industry |
Wholesale of Seeds and seedling |
|
Main Business |
Seed, Turf-Seed, Grass, Constructional
Materials, Herbicide, Fertilizer, Agricultural Chemicals |
|
Established (mm/dd/yyyy) |
10/25/1995 |
Mr. Yun Jung-Seo owns the
premises of registered HQ address.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Flower seeds and bulbs and seedlings and
cuttings(10151900) |
|
Sell |
Shells and casings(31261600) |
|
Sell |
Netting(11162110) |
|
Sell |
Garden tools(27112000) |
|
Name |
Yoon Jung-Seo |
|
Address |
39-6, Geumgok-dong, Bundang-gu, Seongnam-si,
Gyeonggi-do, Korea |
|
Date of Birth |
04/24/1962 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
250,000,000 |
|
Employees |
10 |
|
Formation |
Co., Ltd by shares |
|
Bank Details |
Woori Bank- Gaepodong Branch 14-5, Gaepo-dong, Gangnam-gu, Seoul 135-240
Korea Tel: +82-2-3412-4681 Fax: +82-2-3412-4685 Industrial Bank of Korea-Daechi Station
Branch Shinhan Bank-Bundang Branch |
|
Corporate Registered No. |
110111-1208390 |
|
Business Registered No. |
213-86-16460 |
|
Permit & Licenses |
Int’l Trade No.: 11225588 |
|
Shareholder Position |
N/A |
|
Company History |
10/25/1995 Incorporated as
the present name 12/02/2007 Disorganized according to the
Commercial Law(Article 520, 2-1) 02/15/2008 Continued the subject entity
and business again |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Yoon Jung-Seo |
Male |
Korean |
10/28/1998 |
|
Director |
Mr. |
Yoon Jung-Kil |
Male |
Korean |
10/28/1998 |
|
Director |
Mr. |
Yoon Jung Kown |
Male |
Korean |
10/28/1998 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
|
|
|
|
2010 |
4,708,000,000 |
|
|
|
2009 |
3,079,000,000 |
2,719,000,000 |
75,000,000 |
|
2008 |
3,050,000,000 |
2,438,000,000 |
120,000,000 |
|
2007 |
2,877,000,000 |
|
|
|
2006 |
2,145,000,000 |
1,538,000,000 |
57,000,000 |
|
2005 |
1,784,000,000 |
1,431,000,000 |
25,000,000 |
|
2004 |
1,880,000,000 |
1,215,000,000 |
(-)304,000,000 |
The latest financials are not available, and the Subject Company does not
have any obligations to release its financials to the public.
|
Authorized Capital(KRW) |
2,000,000,000 |
|
Paid-Up Capital(KRW) |
250,000,000 |
|
Total Issues Shares |
25,000 |
Balance
Sheet
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Total Assets |
|
2,719,000,000 |
2,438,000,000 |
|
Current Assets |
|
|
|
|
-Quick Assets |
|
|
|
|
-Inventories |
|
|
|
|
Fixed Assets |
|
|
|
|
-Investment |
|
|
|
|
-Tangibles |
|
|
|
|
-Intangibles |
|
|
|
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Total Liabilities |
|
1,784,000,000 |
1,578,000,000 |
|
Current Liabilities |
|
|
|
|
Fixed Liabilities |
|
|
|
|
Capital Stock |
|
|
|
|
Capital Surplus |
|
|
|
|
Profit Surplus |
|
|
|
|
Capital Adjustment |
|
|
|
|
Total Equity |
|
935,000,000 |
860,000,000 |
|
Liab. & Shareholder’s Equity |
|
2,719,000,000 |
2,438,000,000 |
Income
Statement
|
|||
|
Unit : Korean Won |
As of 12/31/2010 |
As of 12/31/2009 |
As of 12/31/2008 |
|
Sales |
|
3,079,000,000 |
3,050,000,000 |
|
Cost of Sold Goods |
|
|
|
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Gross Profit |
|
|
|
|
Selling & Admin. Expenses |
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|
|
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Operating Income |
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|
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Non-Operating Income |
|
|
|
|
Non-Operating Expenses |
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|
|
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Ordinary Income |
|
|
|
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Special Income |
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|
|
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Income Before Taxes |
|
|
|
|
Income Taxes Expenses |
|
|
|
|
Net Income |
|
75,000,000 |
120,000,000 |
|
Main Products & Services |
Wholesale of Seeds and seedling |
|
Customers |
Seoul Worldcup Gymnasium and other Soccer
Gyms In Korea, Domestic Golf Courses etc. |
|
Competitors |
SYNGENTA SEEDS CO., LTD. 18TH FL., SC FIRST BANK MAIN OFFICE, 100,
GONGPYEONG-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-398-5650 FAX:+82-2-3210-0597 HYUNDAI SEED CORPORATION 418-1, SAMSEONG-RI, GANAM-MYEON, YEOJU-GUN,
GYEONGGI-DO, KOREA TEL:+82-31-882-1731 FAX:+82-31-882-1556 HAESUNG SEED PLUS CO., LTD. 2106-1, DAEJEO 2-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-973-9697 FAX:+82-51-941-9866 |
(Activity & Markets)
The Subject imports
from USA.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
|
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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.