MIRA INFORM REPORT
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Report Date : |
22.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
Hydex corporation |
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|
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Registered Office : |
802-215, Doosan We`ve The State, Jung 2-dong, Wonmi-gu, Bucheon-si,
Gyeonggi-do, 420-022 |
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Country : |
South Korea |
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Date of Incorporation : |
27.10.2009 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale of Construction and Mining Machinery and Equipment |
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No. of Employees : |
3 |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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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 |
HYDEX
CORPORATION (Korean Company
Name : “하이덱스”) |
|
Registered Address |
802-215, Doosan We`ve The State, Jung
2-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea |
|
Zip Code |
420-022 |
|
Tel |
+82-70-8821-4543 |
|
Fax |
+82-32-620-3537 |
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E-mail |
|
|
Website |
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Trading Address |
802-215, Doosan We`ve The State, Jung
2-dong, Wonmi-gu, Bucheon-si, Gyeonggi-do, Korea |
|
Tel |
+82-70-8821-4543 |
|
Fax |
+82-32-620-3537 |
|
|
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|
Type |
Export |
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Industry |
Wholesale of Construction and Mining Machinery and Equipment |
|
Main Business |
Excavator, Hydraulic Hammer, Hydraulic Breaker |
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|
|
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Established (mm/dd/yyyy) |
10/27/2009 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Crushers and breakers and grinders(20101700) |
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Sell |
Rock breakers(20101711) |
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Sell |
Hydraulic pumps(40151533) |
|
Sell |
Heavy equipment components(22101700) |
|
Sell |
Lifting equipment and accessories(24101600) |
|
Name |
Jeong Kye-Ho |
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Title |
Owner |
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Sex |
Male |
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Nationality |
Korean |
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Capital (KRW) |
Not Applicable to
the Sole Proprietorship |
|
Employees |
3 |
|
Formation |
Sole Proprietorship |
|
Bank Details |
N/A |
|
Corporate Registered No. |
Not Applicable to the Sole Proprietorship |
|
Business Registered No. |
131-31-*****(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.: 14140185 |
|
Shareholder Position |
The owner has 100% shares. |
|
Company History |
10/27/2009 Established as the present name |
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Owner |
Mr. |
Jeong Kye-Ho |
Male |
Korean |
10/27/2009 |
The 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 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 |
Excavator, Hydraulic Hammer, Hydraulic Breaker |
|
Competitors |
EVERDIGM CORP. 332-3, JANGGWAN-RI, JINCHEON-EUP,
JINCHEON-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-530-3300 FAX:+82-43-530-3318 DAEMO
ENGINEERING CO., LTD. 2BA-515, SIHWA INDUSTRIAL COMPLEX, 2178-5,
JEONGWANG 2-DONG, SIHEUNG-SI, GYEONGGI-DO, KOREA TEL:+82-31-488-6011 FAX:+82-31-496-0067 MSB CORPORATION 123B-4L, NAMDONG INDUSTRIAL COMPLEX, 693-3,
GOJAN-DONG, NAMDONG-GU, INCHEON, KOREA TEL:+82-32-821-6980~3 FAX:+82-32-818-1698 |
The Subject exports
to Algeria.
Not Available.
-----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.04 |
|
|
1 |
Rs.83.95 |
|
Euro |
1 |
Rs.70.93 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.