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Report Date : |
04.10.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAMDONG TEXTILE
CO., LTD. |
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Registered Office : |
Rm. 401, Samdong Bldg., 167, Hyoje-dong, Jongno-gu, Seoul,
Korea |
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Country : |
South Korea |
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|
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Date of Incorporation : |
05.02.2009 |
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Com. Reg. No.: |
101-86-44867 |
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Legal Form : |
Co., Ltd by Shares |
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Line of Business : |
Wholesale of Textiles |
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No. of Employees : |
13 |
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 |
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Payment Behaviour : |
No complaints |
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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 |
SAMDONG TEXTILE
CO., LTD. (Korean Company
Name : “(주)삼동텍스타일”) |
|
Registered Address |
167, Hyoje-dong,
Jongno-gu, Seoul, Korea |
|
Building |
Rm. 401, Samdong Bldg. |
|
Zip Code |
110-850 |
|
Tel |
+82-2-765-5071 |
|
Fax |
+82-2-747-7107 |
|
Trading Address |
Rm. 401, Samdong
Bldg., 167, Hyoje-dong, Jongno-gu,
Seoul, Korea (New Address System : 45, Jong-ro 39-gil, Jongno-gu,
Seoul, Korea) |
|
Tel |
+82-2-765-5071 |
|
Fax |
+82-2-747-7107 |
|
Type |
Export |
|
Industry |
Wholesale of Textiles |
|
Main
Business |
Cotton Fabrics, Woven Fabrics |
|
Established (mm/dd/yyyy) |
02/05/2009 |
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Cotton fibers(11151507) |
|
Sell |
Synthetic fabrics(11161800) |
|
Name |
Park Chan-Tae |
|
Address |
Suite 36-1004, 44, Ogeum-dong,
Songpa-gu, Seoul, Korea |
|
Date of Birth |
12/02/1957 |
|
Title |
President & CEO |
|
Sex |
Male |
|
Nationality |
Korean |
|
Capital (KRW) |
100,000,000 |
|
Employees |
13 |
|
Formation |
Co., Ltd by Shares |
|
Bank Details |
N/A |
|
Corporate Registered No. |
1101114-038364 |
|
Business Registered No. |
101-86-44867 |
|
Permit & Licenses |
N/A |
|
Shareholder Position |
N/A |
|
Company History |
02/05/2009 Incorporated as the present name |
|
|
|
Management
|
Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Date |
|
President & CEO |
Mr. |
Park Chan-Tae |
Male |
Korean |
02/23/2012 |
|
Director |
Mr. |
Park Chan-Eul |
Male |
Korean |
02/23/2012 |
|
Auditor |
Mr. |
Kuk Joong-Ki |
Male |
Korean |
02/23/2012 |
Financials
|
Year / Unit : KRW |
Sales |
Assets |
Net Income |
|
|
|
|
|
|
2011 |
|
|
|
|
2010 |
|
|
|
|
2009 |
|
|
|
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) |
400,000,000 |
|
Paid-Up Capital(KRW) |
100,000,000 |
|
Total Issued Shares |
20,000 |
|
Main Products & Services |
Cotton Fabrics, Woven Fabrics |
|
Competitors |
COTTON KOREA
CO., LTD. RM. 306, GWANGDONG
BLDG., 164, HYOJE-DONG, JONGNO-GU, SEOUL, KOREA TEL:+82-2-741-9915 FAX:+82-2-741-9597 TAEBONG CO.,
LTD. 684-2,
ILGOK-DONG, BUK-GU, GWANGJU, KOREA TEL:+82-62-571-6470 FAX:+82-62-571-8946 CHAWOO TRADING
CO., LTD. 6TH FL.,
CHAWOO BLDG., 411-2, DOGOK 2-DONG, GANGNAM-GU, SEOUL, KOREA TEL:+82-2-776-8177 FAX:+82-2-571-4196 |
The Subject exports
to Taiwan, Argentina and UK.
Not Available.
----
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.61.93 |
|
UK Pound |
1 |
Rs.100.43 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NLM |
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.