|
Report Date : |
15.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
MASTEX INC. |
|
|
|
|
Registered Office : |
656-36, Seongsu1-ga1-dong, Seongdong-gu, Seoul, Korea Rm.802, Halla
Eco Valley 133-821 |
|
|
|
|
Country : |
South Korea |
|
|
|
|
Financials (as on) : |
31.12.2012 |
|
|
|
|
Date of Incorporation : |
01.09.1999 |
|
|
|
|
Com. Reg. No.: |
120-81-85786 |
|
|
|
|
Legal Form : |
Co., Ltd by Shares |
|
|
|
|
Line of Business : |
Manufacture of Underwear and Night Clothes |
|
|
|
|
No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
Slow but Correct |
|
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 |
Basic
|
Company Name |
MASTEX INC. |
|
Registered Address |
656-36, Seongsu1-ga1-dong, Seongdong-gu, Seoul, Korea |
|
Building |
Rm.802, Halla Eco Valley |
|
Zip Code |
133-821 |
|
Tel |
+82-2-589-5900 |
|
Fax |
+82-2-589-5938 |
|
Trading Address |
Rm.802, Halla Eco Valley, 656-36, Seongsu1-ga1-dong, Seongdong-gu,
Seoul, Korea (New Address System : 25, Ttukseom-ro 1-gil, Seongdong-gu, Seoul,
Korea) |
|
Tel |
+82-2-589-5900 |
|
Fax |
+82-2-589-5938 |
|
Type |
Export |
|
Industry |
Manufacture of Underwear and Night Clothes |
|
Main Business |
Womens Underwear, Polyester Fabrics, Nylon Fabrics, Knit Fabrics,
Buying Office Business |
|
Sub
Business |
Weaving of Man-Made Fiber Fabrics |
|
Established (mm/dd/yyyy) |
01/09/1999 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Underpants(53102303) |
|
Sell |
Womens pajamas or nightshirts or robes(53102604) |
|
Buy |
Buttons(53141505) |
|
Buy |
Synthetic fabrics(11161800) |
|
Buy |
Fabrics and leather materials(11160000) |
|
Buy |
Cotton(11121802) |
|
Name |
Kim Sung-Min |
|
Address |
Suite C-3101, 100, Jeongjail-ro,
Bundang-gu, Seongnam-si, Gyeonggi-do, Korea |
|
Date of Birth |
9/26/1956 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
100,000,000 |
|
Employees |
30 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
Shinhan Bank-Yangjae Dong Branch |
|
Corporate Registered No. |
110111-1631129 |
|
Business Registered No. |
120-81-85786 |
|
Permit & Licenses |
Int’l Trade No.: 11634887 |
|
Shareholder Position |
N/A |
|
Company History |
01/09/1999 Incorporated as the present name 03/26/2001 Moved to 8th Fl., Taeseok
Bldg., 275-5, Yangjae 2-dong, Seocho-gu, Seoul, Korea from 945-1, Daechi-dong, Gangnam-gu, Seoul, Korea 10/25/2012 moved to the present HQ address from 8th Fl., Taeseok
Bldg., 275-5, Yangjae 2-dong, Seocho-gu, Seoul, Korea |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Kim Sung-Min |
Male |
Korean |
01/09/1999 |
|
Director |
Mr. |
Park Kyung-Shin |
Male |
Korean |
01/28/2011 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
31,927,000,000 |
9,302,000,000 |
1,616,000,000 |
|
|
2011 |
35,841,000,000 |
8,177,000,000 |
2,038,000,000 |
|
2010 |
31,792,000,000 |
4,563,000,000 |
1,825,000,000 |
|
2009 |
22,037,820,000 |
|
1,106,200,000 |
|
2008 |
13,276,930,000 |
|
139,500,000 |
|
2007 |
13,667,510,000 |
|
525,240,000 |
|
2006 |
13,163,260,000 |
|
160,000,000 |
|
2005 |
8,666,000,000 |
|
|
|
2004 |
3,735,000,000 |
|
|
|
Authorized Capital(KRW) |
400,000,000 |
|
Paid-Up Capital(KRW) |
100,000,000 |
|
Total Issues Shares |
20,000 |
|
Balance Sheet |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Total Assets |
9,302,000,000 |
8,177,000,000 |
4,563,000,000 |
|
Current Assets |
5,915,000,000 |
6,616,000,000 |
3,990,000,000 |
|
-Quick Assets |
- |
- |
- |
|
-Inventories |
- |
- |
- |
|
Fixed Assets |
3,387,000,000 |
1,561,000,000 |
573,000,000 |
|
-Investment |
- |
- |
- |
|
-Tangibles |
- |
- |
- |
|
-Intangibles |
- |
- |
- |
|
Total Liabilities |
2,572,000,000 |
3,063,000,000 |
1,486,000,000 |
|
Current Liabilities |
2,572,000,000 |
3,063,000,000 |
1,486,000,000 |
|
Fixed Liabilities |
- |
- |
- |
|
Capital Stock |
133,000,000 |
100,000,000 |
100,000,000 |
|
Capital Surplus |
- |
- |
- |
|
Profit Surplus |
- |
- |
- |
|
Capital Adjustment |
- |
- |
- |
|
Total Equity |
6,730,000,000 |
5,114,000,000 |
3,077,000,000 |
|
Liab. & Shareholder’s Equity |
9,302,000,000 |
8,177,000,000 |
4,563,000,000 |
|
Income Statement |
|||
|
Unit : Korean Won |
As of 12/31/2012 |
As of 12/31/2011 |
As of 12/31/2010 |
|
Sales |
31,927,000,000 |
35,841,000,000 |
31,792,000,000 |
|
Cost of Sold Goods |
27,058,000,000 |
30,184,000,000 |
26,782,000,000 |
|
Gross Profit |
4,869,000,000 |
5,657,000,000 |
5,010,000,000 |
|
Selling & Admin. Expenses |
3,664,000,000 |
3,506,000,000 |
3,025,000,000 |
|
Operating Income |
1,205,000,000 |
2,151,000,000 |
1,985,000,000 |
|
Non-Operating Income |
1,131,000,000 |
1,049,000,000 |
760,000,000 |
|
Non-Operating Expenses |
544,000,000 |
915,000,000 |
668,000,000 |
|
Income Before Taxes |
1,792,000,000 |
2,285,000,000 |
2,078,000,000 |
|
Income Taxes Expenses |
176,000,000 |
247,000,000 |
253,000,000 |
|
Net Income |
1,616,000,000 |
2,038,000,000 |
1,825,000,000 |
|
Main Products & Services |
Womens Underwear, Polyester Fabrics, Nylon Fabrics, Knit Fabrics,
Buying Office Business |
|
Competitors |
SSANGBANGWOOL &
TRYGROUP(110111-3891169) GOOD PEOPLE CO., LTD.(110111-0939326) BYC CO., LTD.(110111-0005995) 1104-1, DAERIM 2-DONG, YEONGDEUNGPO-GU,
SEOUL, KOREA TEL:+82-2-840-3114 FAX:+82-2-840-3193 |
|
Sales/ Unit :Mil KRW |
2012 |
201 |
2010 |
|
Export |
|
|
|
|
Domestic |
|
|
|
|
Total |
|
|
|
The Subject exports to Hong Kong and USA.
Not Available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.06 |
|
|
1 |
Rs.101.15 |
|
Euro |
1 |
Rs.84.95 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.