|
Report Date : |
27.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEO TEXTILE CO., LTD. |
|
|
|
|
Registered Office : |
115-13, Gongdeok-dong, Mapo-gu, Seoul, Korea,
Rm.401, Yedam Bldg., Zip Code 121-801 |
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|
|
|
Country : |
South Korea |
|
|
|
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Date of Incorporation : |
12.07.2004 |
|
|
|
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Com. Reg. No.: |
105-86-69180 |
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|
|
|
Legal Form : |
Co., Ltd by Shares |
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|
|
|
Line of Business : |
Wholesaler and Retailer of Textile |
|
|
|
|
No. of Employees : |
01 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Small Company |
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|
|
|
Payment Behaviour : |
Unknown |
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|
|
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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 |
|
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 |
NEO TEXTILE CO., LTD. (Korean Company Name : “(주)네오섬유”) |
|
Registered Address |
115-13,
Gongdeok-dong, Mapo-gu, Seoul, Korea |
|
Building |
Rm.401, Yedam Bldg. |
|
Zip Code |
121-801 |
|
Tel |
+82-2-711-0382 |
|
Fax |
+82-2-711-0384 |
|
Trading Address |
Rm.401,
Yedam Bldg., 115-13, Gongdeok-dong, Mapo-gu, Seoul, Korea |
|
Tel |
+82-2-711-0382 |
|
Fax |
+82-2-711-0384 |
|
Type |
Export/Import |
|
Industry |
Wholesales and Retails of Textile |
|
Established (mm/dd/yyyy) |
07/12/2004 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Threads(11151600) |
|
Sell |
Synthetic yarn(11151709) |
|
Sell |
Yarns(11151700) |
|
Name |
Kim Yi-Soo |
|
Address |
Suite 111-1001, 459, Hongje-dong,
Seodaemun-gu, Seoul, Korea |
|
Date of Birth |
04/02/1975 |
|
Title |
Representative Director |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
100,000,000 |
|
Employees |
1 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Nonghyup Bank |
|
Corporate Registered No. |
1101113-047481 |
|
Business Registered No. |
105-86-69180 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
07/12/2004 Incorporated as the present name 07/16/2005 Moved to the present HQ address
from 404, Gongdeok-dong, Mapo-gu, Seoul, Korea 09/06/2005 Increased capital to 100,000,000
KRW from 50,000,000 KRW |
|
|
|
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
Representative Director |
Mr. |
Kim Yi-Soo |
Male |
Korean |
07/12/2004 |
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
2006 |
3,326,000,000 |
523,000,000 |
6,000,000 |
|
2005 |
4,367,000,000 |
373,000,000 |
33,000,000 |
|
2004 |
1,154,000,000 |
138,000,000 |
19,000,000 |
The full &
latest financials are not available, and the Subject Company does not have any
obligations to release its financials to the public.
|
Authorized Capital(KRW) |
200,000,000 |
|
Paid-Up Capital(KRW) |
100,000,000 |
|
Total Issued Shares |
20,000 |
|
Main Products & Services |
Textile |
|
Competitors |
SM TECH TEX CO., LTD. 394-1, YANGSAN-RI, BEOLGOK-MYEON,
NONSAN-SI, CHUNGCHEONGNAM-DO, KOREA TEL:+82-41-734-2511 FAX:+82-41-734-2411 DOWON TRADING CO., LTD. RM. 1317, KRANTZ TECHNO, 5442-1, SANGDAEWON
2-DONG, JUNGWON-GU, SEONGNAM-SI, GYEONGGI-DO, KOREA TEL:+82-31-777-8939 FAX:+82-31-777-8941 WORLIGHT CO., LTD. 2ND FL., SEGWANG BLDG., 242-3, YANGJAE
2-DONG, SEOCHO-GU, SEOUL, KOREA TEL:+82-2-529-8464 FAX:+82-2-529-8463 |
(Activity & Markets)
Not Available.
Not Available.
--
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.61 |
|
UK Pound |
1 |
Rs.83.98 |
|
Euro |
1 |
Rs.71.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.