|
Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
JINSUNG CHEMICAL |
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|
|
|
Registered Office : |
1354-2, Jeongwang 3-dong, Siheung-si, Gyeonggi-do, 1Ma-303, Sihwa Industrial
Complex, 429-852 |
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|
|
|
Country : |
South Korea |
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|
|
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Date of Incorporation : |
06.04.1998 |
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|
|
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Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
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|
|
|
No. of Employees : |
15 |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 currently is among the world's 20 largest economies. 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. With the global economic downturn in late 2008, South Korean GDP growth slowed to 0.3% in 2009. In the third quarter of 2009, the economy began to recover, in large part due to export growth, low interest rates, and an expansionary fiscal policy, and growth was 3.6% in 2011. In 2011, the US-South Korea Free Trade Agreement was ratified by both governments and is projected to go into effect in early 2012. 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 |
JINSUNG CHEMICAL (Korean Company
Name : “진성화학”) |
|
Registered Address |
1354-2, Jeongwang 3-dong, Siheung-si,
Gyeonggi-do, Korea |
|
Building |
1Ma-303, Sihwa Industrial Complex |
|
Zip Code |
429-852 |
|
Tel |
+82-31-433-9855 |
|
Fax |
+82-31-319-9851 |
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E-mail |
|
|
Trading Address |
1Ma-303, Sihwa Industrial Complex, 1354-2,
Jeongwang 3-dong, Siheung-si, Gyeonggi-do, Korea |
|
Tel |
+82-31-433-9855 |
|
Fax |
+82-31-319-9851 |
|
Type |
Import |
|
Industry |
Manufacture of Synthetic Colouring Matter, Tanning Materials and Other
Coloring Agents |
|
Main Business |
Acid Dyestuff |
|
Established (mm/dd/yyyy) |
04/06/1998 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Dyes(12171500) |
|
Name |
Shin Chung-Sang |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
15 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
Shinhan Bank-Ansan Branch |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
133-02-***** (The full numbers are kept by the
National Tax Service confidentially.) Because the subject’s full Business
Registered No., for checking through the National Tax Service whether the
subject is still existing or not, is not available, so we cannot confirm if
the subject exist or not legally.) |
|
Permit & Licenses |
Int’l Trade No.: 11508340 |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
04/06/1998 Established as the present name |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Shin Chung-Sang |
Male |
Korean |
04/06/1998 |
Financials
The financials are
not available, and the Subject Company does not have any obligations to release
its financials to the public.
Financial Description
|
Authorized Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Paid-Up Capital(KRW) |
Not Applicable to the Sole Proprietorship |
|
Total Issued Shares |
Not Applicable to the Sole Proprietorship |
Products, Technologies,
Services Description
|
Main Products & Services |
Acid Dyestuff |
Trade Partners
& Competitors
|
Customers |
|
|
Competitors |
JIN WOONG INDUSTRIAL CO., LTD. 619-1, GANAP -RI, GWANGJEOK-MYEON,
YANGJU-SI, GYEONGGI-DO, KOREA TEL:+82-31-837-6005 FAX:+82-31-837-6006 RHEESOO DYES & CHEMICALS CO., LTD. 6TH FL., YEONGSANG BLDG., 397-17,
DAEBANG-DONG, DONGJAK-GU, SEOUL, KOREA TEL:+82-2-825-8541 FAX:+82-2-824-4294 TAEKWANG DYESYUFFS & CHEMICAL CO., LTD. 4649-1, GANGDONG-DONG, GANGSEO-GU, BUSAN,
KOREA TEL:+82-51-973-4105 FAX:+82-51-973-4108 |
Related Parties
(Subsidiaries, Joint-Venture & Affiliates)
|
Affiliates |
ZARA FINETECH CO., LTD.(135511-0233391) |
The Subject imports
from India and China.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared by
: |
PDT |
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.