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Report Date : |
04.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
TOP IMEX CORPORATION |
|
|
|
|
Registered Office : |
456, Gongdeok-dong, Mapo-gu, Seoul |
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Country : |
South Korea |
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Date of Incorporation : |
20.10.1999 |
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Com. Reg. No.: |
105-04-13303 |
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|
|
|
Legal Form : |
Sole Proprietorship |
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|
|
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Line of Business : |
Wholesale of Other Industrial Machinery and Equipment |
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|
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No. of Employees : |
1 |
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 |
TOP IMEX CORPORATION (Korean Company Name : “탑아이멕스”) |
|
Registered Address |
456, Gongdeok-dong,
Mapo-gu, Seoul, Korea |
|
Building |
Rm. 2204, Renaissance Tower |
|
Zip Code |
121-020 |
|
Tel |
+82-2-3272-6501 |
|
Fax |
+82-2-3272-6503 |
|
E-mail |
|
|
Trading Address |
Rm. 2204,
Renaissance Tower, 456, Gongdeok-dong, Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-3272-6501 |
|
Fax |
+82-2-3272-6503 |
|
Type |
Export/Import |
|
Industry |
Wholesale of Other Industrial Machinery and Equipment |
|
Main Business |
Compressors, Copper Tube, Timer, Bando Hoist & Crane |
|
Established (mm/dd/yyyy) |
10/20/1999 |
The Subject Company
occupies the premises of registered HQ address by leasing base.
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Compressors(40151600) |
|
Sell |
Hoists(24101602) |
|
Sell |
Electronic component parts and raw materials and accessories(32131000) |
|
Name |
Choi Kwang-Suk(Mobile
: +82-11-201-5388) |
|
Title |
Owner |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
1 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
Korea Exchange Bank-Mapo Nam Branch |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
105-04-13303 |
|
Permit & Licenses |
Int’l Trade No.: 11698531 |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
10/20/1999 Established as the present name 11/30/2002 Awarded US$1 Million Export Top
Prize |
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Choi Kwang-Suk |
Male |
Korean |
10/20/1999 |
Financials
|
Year / Un2012it : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
|
|
|
|
2008 |
|
|
|
|
2007 |
|
|
|
|
2006 |
882,000,000 |
|
|
|
2005 |
1,311,000,000 |
|
|
|
2004 |
|
|
|
|
2003 |
900,000,000 |
|
|
The latest &
full 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 |
|
Main Products & Services |
Electrical Components, Electric Chain
Hoist, Bobbin-Less Winding Machine, Copper Tubes and Cutting Tools |
|
Competitors |
K.S. COMPRESSOR CO., LTD. 747-5, CHONAM-RI, GWANGYANG-EUP,
GWANGYANG-SI, JEOLLANAM-DO, KOREA TEL:+82-61-762-7100 FAX:+82-61-762-7102 KOREA COMPRESSOR CO., LTD. 453-7, GUSEONG-DONG, DONGNAM-GU,
CHEONAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-556-6335 FAX:+82-41-557-6336 HANKUK RELAY CO., LTD. 150-55, GAJWA 1-DONG, SEO-GU, INCHEON,
KOREA TEL:+82-32-576-4951 FAX:+82-32-576-0350 |
The Subject exports
to Chile, China, Taiwan, India, Jordan, Mexico and Australia.
Not Available.
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.95 |
|
|
1 |
Rs.83.80 |
|
Euro |
1 |
Rs.70.49 |
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.