MIRA INFORM REPORT

 

 

Report Date :

18.10.2013

 

IDENTIFICATION DETAILS

 

Name :

ALUFORMS KOREA CO., LTD.

 

 

Registered Office :

288-3, Oseon-ri, Geumwang-eup, Eumseong-gun, Chungcheongbuk-do, Korea 369-906

 

 

Country :

South Korea

 

 

Date of Incorporation :

11.09.2001

 

 

Com. Reg. No.:

305-81-50457

 

 

Legal Form :

Co., Ltd by Shares

 

 

Line of Business :

Manufacture of Structural Metal Sheet Products and Ornamental Metal Works Used on Building

 

 

No. of Employees :

17

 

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

 

Basic Information

 

Basic

 

Company Name

ALUFORMS KOREA CO., LTD.

Registered Address

288-3, Oseon-ri, Geumwang-eup, Eumseong-gun, Chungcheongbuk-do, Korea

Zip Code

369-906

Tel

+82-43-882-7257

Fax

+82-43-882-7259

E-mail

aluforms@hanmail.net

Website

www.aluforms.net

Trading Address

288-3, Oseon-ri, Geumwang-eup, Eumseong-gun, Chungcheongbuk-do, Korea

(New Address System : 749-10, Chogeum-ro 752beon-gil, Geumwang-eup, Eumseong-gun, Chungcheongbuk-do, Korea)

Tel

+82-43-882-7257

Fax

+82-43-882-7259

Type

Export/Import

Industry

Manufacture of Structural Metal Sheet Products and Ornamental Metal Works Used on Building

  Main Business

Brick Panel

Established (mm/dd/yyyy)

11/09/2001

 

 

Detailed Products

 

Activity

Detailed Products (UNSPSC)

Sell

Siding and exterior wall materials(30151800)

 

 

CEO’s

 

Name

Song Young-Suk

Address

220, Lufd Kurusu Way, Dulles, Georgia, USA

Date of Birth

06/23/1957

Title

President & CEO

Sex

Male

Nationality

USA

 

 

Profiles

 

Capital (KRW)

1,000,645,000

Employees

17

Formation

Co., Ltd by Shares

Foreign Direct Investment Corporation

Bank Details

Kookmin Bank-Chungju Corporate Finance Branch

Corporate Registered No.

1601110-127393

Business Registered No.

305-81-50457

Permit & Licenses

N/A

Shareholder Position

N/A

Company History

11/09/2001 Incorporated as the present name

12/03/2004 Registered as a Foreign Direct Investment Corporation

03/28/2005 Moved to the present HQ address from 260, Sindae-ri, Bugi-myeon, Cheongwon-gun, Chungcheongbuk-do, Korea

 

 

 

 

Detailed Information

 

Management

 

Job Description

Title

Name

Sex

Nationality

Inauguration Date

President & CEO

Mr.

Song Young-Suk

Male

USA

11/25/2004

Director

Mr.

Yoon Kyung-Ho

Male

Korean

03/28/2011

Director

Mr.

Song Myung-Suk

Male

Korean

08/09/2013

Auditor

Mr.

Park Byung-Woo

Male

Korean

08/09/2013

 

Financials

 

Year / Unit : KRW

Sales

Assets

Net Income

2012

 

 

 

2011

 

 

 

2010

 

 

 

2009

 

 

 

2008

1,713,000,000

3,230,000,000

-920,000,000

2007

6,231,000,000

4,548,000,000

188,000,000

2006

6,110,000,000

5,300,000,000

182,000,000

2005

 

 

 

2004

 

 

 

2003

 

 

 

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)

2,500,000,000

Paid-Up Capital(KRW)

1,000,645,000

Total Issued Shares

200,129

 

 

Products, Technologies, Services Description

 

Main Products & Services

Brick Panel

 

 

Trade Partners & Competitors

 

Competitors

BENE TECH CO., LTD.

3RD FL., YANGJIN BLDG., 34-145, ITAEWON 1-DONG, YONGSAN-GU, SEOUL, KOREA

TEL:+82-2-711-0830  FAX:+82-2-711-0832

 

TEC-WALL KOREA CO., LTD.

27, SINYANG-RI, SAENGGEUK-MYEON, EUMSEONG-GUN, CHUNGCHEONGBUK-DO, KOREA

TEL:+82-43-882-8568  FAX:+82-43-882-8569

 

 

News Clipping

 

Not Available.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.61.58

UK Pound

1

Rs.98.51

Euro

1

Rs.83.49

 

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.